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HomeMy WebLinkAboutResolution 16-041 Resolution 16-041 A Resolution Authorizing the transfer of real property to Brookings Economic Development Corporation, Inc. for Economic Development Purposes Be It Resolved by the City Council of the City of Brookings, South Dakota as follows: Whereas, the Brookings Economic Development Corporation, Inc. desires to: A. Purchase approximately 16.5 acres of real property located in the south-east corner of the Svennes Industrial Park to the City of Brookings, South Dakota, for the price of Thirty-Two Thousand, Eight Hundred Twelve Dollars & Fifty Cents ($32,812.50) per acre for a total price of Five Hundred Forty-One Thousand, Four Hundred Six Dollars & Twenty-Five Cents ($541,406.25). Whereas, for the express purpose of furthering economic growth and development of the City of Brookings, South Dakota the Brookings Economic Development Corporation, Inc. agrees to sell, convey or otherwise transfer said property to a legal entity which is, or will be, conducting business in the City of Brookings, South Dakota, and Whereas, it is in the best interests of the City of Brookings that the City provide its economic development assistance in this matter to aid and assist with the completion of the aforesaid transaction which will further economic development in the City of Brookings; and Whereas, the City is authorized to enter into this transaction as an economic development activity under the laws of the State of South Dakota; Now Therefore, It Is Hereby Resolved by the City Council of the City of Brookings, South Dakota, as follows: A. That the City convey title to, and hold, the above-described property to the Brookings Economic Development Corporation, Inc. for the purposes of furthering economic growth and development of the City of Brookings, South Dakota; and B. That the Mayor, City Clerk and City Manager are authorized to execute the required documents in accordance with this Resolution. Passed and approved on the 26t" day of April, 2016. CITY OF BROOKINGS � ��'�'�'( 9 �iTr�„ �i�--, � � �°�'T�"��fi, Tim Reed, Mayor � G�' ✓d,Y ' ��,o o, '�Gr �-� Shari Thornes, City Cler PLAT OF BLOCK 11 AND LOTS 1 AND 2, IN BLOCK 11 OF FREELAND ADDITION, TO THE CITY OF BROOKINGS, BROOKINGS COUNTY, SOUTH DAKOTA. 70.05'� ►�g'35'13'E 97t.85' 961.60� . � 4 LIIE �r 0 n � � � � '`� Z � j O O Q ~ SCME: 1'— 200' • NBB�J9�20�E 402.24' � �j� Y � —� ��ryy• C n �_____'—_',___``— U O ~m � Mf o� � r----- LOT 2 � � U ¢ � �I �w a.i� �s(tas.aos s.F.) � g o� � w � .- � ¢ `v� v�'i ` NBB J9'40 E 902.42 I ,� U'' m w � � � $ $ I � I � _ i � i � � i i ; �gi � � LOT 1 � u� �a.oi u�s(ses,s2�s.F.) 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