HomeMy WebLinkAboutResolution 099-2013 Resolution No. 99-13
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 purchase
approximately seven (7.0) acres of real property described as;the South one-half(36) of Block 1,
excluding Lot One (1) and the adjacent detention pond, of Foster Addition in the Northeast
Quarter(NEY4)of Section Nineteen (19), Township One Hundred Ten (110) North, Range Forty-
nine (49) West of the 5th P.M., City of Brookings, County of Brookings, State of South Dakota;
for the price of$43,560 dollars ($43,560) per acre; and
Whereas, for the express purpose of furthering economic growth and development of the City
of Brookings, South Dakota, Brookings Economic Development Corporation, Inc. agrees to sell,
convey or otherwise transfer said property to a business 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 the above-described property to Brookings Economic
Development Corporation, Inc. for sale of the above-described property in
accordance with the terms of this Resolution; 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 10th day of September, 2013.
CITY OF BROOKINGS
A 0.5.—0..e. ‘,,`, Tim Reed, Mayor
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Shari es, City Clerk
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