04-0214R

RESOLUTION APPROVING DEDA RESOLUTION 04D-39 AUTHORIZING AN AMENDMENT WITH GARFIELD BUSINESS PARK, LLC.

BY COUNCILOR GILBERT:

RESOLVED, that pursuant to the requirements of Resolution No. 99-0239, the Duluth economic development authority's (DEDA) approval of an amendment to development agreement with Garfield Business Park, LLC, modifying the time for performance, increasing the percentage of tax increment proceeds the developer is entitled to and allowing the issuance of a TIF note prior to completion of the first building, pursuant to DEDA Resolution No. 04D-39, adopted on March 16, 2004, 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 the action of the DEDA board of commissioners pursuant to its Resolution 04D-39 as is required by Resolution 02-0606.

The nature and purpose of the amendment are set forth in DEDA Resolution 04D-39 and its statement of purpose.