HomeMy WebLinkAboutResolution 054-2007 RESOLUTION NO. 54-07
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 purchase
approximately 1.03 acres of real property described as Lot 7, Block 1, in the Telkamp Industrial
Addition to the City of Brookings, South Dakota, for a price of$15,000 per acre, and
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 the above-described property to the Brookings Economic
Development Corporation, Inc. for sale of the above-described property to a business; 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 14th day of August, 2007.
CI : _ . ' •OKINGS
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• t 1 sterman,Mayor
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hari Thornes,Brookings City C •rk