HomeMy WebLinkAboutResolution 038-2007 RESOLUTION NO. 38-07
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 30 acres of real property located in Wiese Addition to the
City of Brookings, South Dakota, for the price of Forty three thousand five hundred
sixty dollars and zero cents ($43,560.00) per acre.
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; and
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 Re • ution.
Passed and approved on the 8th day of a , 2007. /
1
CITY of,
••• CZ;.eoo Sco D. M erman, Mayor
Attu,�, 4`�? /` G
',.--ornes, City Clerk