90-137
.
.
.
RESOLUTION NO. 137-90
BY
RESOLUTION APPROVING CONTRACT FOR
TAX INCREMENT FINANCE DEVELOPMENT
AND BETWEEN THE CITY OF SHOREWOOD, MINNESOTA
AND SHERMAN-BOOSALIS INTERESTS, INC.,
A MINNESOTA CORPORATION
WHEREAS, the City Council of the City of Shorewood passed
Resolution No. 36-90 on 23 April 1990, Designating and Establishing
Development District No.1; Establishing Tax Increment Financing District
No. 1 Located Within Development District No.1; and Approving and
Adopting the Development District Program for Development District No. 1
Including Tax Increment Financing Plan for Tax Increment Financing
District No.1; and
WHEREAS, Subsection 2.06 of such Development Program provides for
the City to enter into a Development Agreement for the property included
in the Development District.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Shorewood as follows:
1. That the Contract attached hereto entitled "Contract for Tax
Increment Finance Development By and Between the City of Shorewood,
Minnesota and Sherman-Boosalis Interests, Inc., a Minnesota Corporation,"
is hereby approved.
2. That the Mayor and City Clerk are hereby authorized to
execute said Contract on behalf of the City Council.
ADOPTED BY THE CITY COUNCIL of the City of Shorewood this
10th day of December, 1990.
i
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" aurence E. Whittaker
City Administrator I Clerk
Roll Call Vote:
Ayes - Haugen, Brancel, Gagne, Stover, Watten
Nays - 0