01-0714R REPLACEMENT
                                         
RESOLUTION APPROVING DEDA AGREEMENT WITH JAMES E. WILLIAMS PURSUANT TO DEDA RESOLUTION 01D-40.

BY COUNCILOR STENBERG:

        RESOLVED, that pursuant to Resolution No. 99-0239, the agreement between the Duluth economic development authority (DEDA) and James E. Williams in the amount of $225,000, payable from DEDA Capital Projects Fund No. 0865/District #3, as approved by the DEDA board at its meeting of October 1, 2001, pursuant to DEDA Resolution No. 01D-40, a copy of which is on file in the office of the city clerk as Public Document No. ___, is hereby approved.



STATEMENT OF PURPOSE:  The purpose of this resolution is to approve an agreement between DEDA and James E. Williams pursuant to the requirements of Resolution 99-0239.

The purpose of this agreement is to acquire property in Oneota III on a voluntary basis and to assist a local business to expand, all as further discussed in DEDA Resolution No. 01D-40 and its statement of purpose.