01-0252R

RESOLUTION APPROVING DEDA AGREEMENT WITH ELLIOT BAYLEY FOR THE PURCHASE OF THE BRIDGEMAN-RUSSELL/BAYLEY BUILDING, PURSUANT TO DEDA RESOLUTION 01D-19

BY COUNCILOR STENBERG:

        RESOLVED, that pursuant to Resolution No. 99-0239, the agreement between the Duluth economic development authority (DEDA) and Elliot Bayley for the purchase of the Bridgeman-Russell/Bayley Building in the amount of $235,000, payable from DEDA Fund 0865, District No. 2, as approved by the DEDA board at its meeting of March 23, 2001, pursuant to DEDA Resolution No. 01D-19, a copy of which is on file in the office of the city clerk as Document No. _________________, is hereby approved.


STATEMENT OF PURPOSE:  This resolution's purpose is to approve DEDA's agreement with Elliot Bayley to purchase the easterly of the two buildings commonly referred to as the Bridgeman/Russell Building on West First Street between Lake Avenue and First Avenue West.