HomeMy WebLinkAboutHRA Resolution No 4-2009HOUSING AND REDEVELOPI\iENT AUTHORITY IN AND FOR THE CITY OF
HASTINGS
RESOLUTION 4-2UU9
A RESOLUTION DIRECTING THE EXECUTION OF ASSIGNMENTS OF ALL
CURRENT AGREEMENTS AND SECURITY DOCUMENTS PERTAINING TO
EXISTING TAX INCREMENT DISTRICTS NO. 3 AND NO. 4 TO THE
HASTINGS ECONOMIC DEVELOPMENT AND REDEVELOPMENT
AUTHORITY
Dated September 10, 2009
Commissioner
adoption:
introduced the following resolution and moved its
WHEREAS: The Hastings City Council established flte Housing and Redevelopment
Authority in and for the City of Hastings (HRA) by Resolution on August 3, 1971; and
WHEREAS: The Hastings City Council established the Hastings Economic
Development and Redevelopment Authority (EDRA) by Resolution on September 1~,
2008, and by Resolution on November 16, 2008, both to be effective January 1, 2009;
and
WHEREAS: The above resolutions directed that the administration, control, authority,
operation and funding of programs and projects, and the property, agreements,
mortgages, bonds and obligations of the HRA shall be transferred to the EDRA as soon
as practical after January 1, 2009; and
WHEREAS: The HRA Board directed officials and staff to take actions necessary to
transfer all HRA assets, property and agreements to the EDRA by Resolution on Janu:uy
8, 2009; and
WHEREAS: The EDRA Board accepted the assets, property and agreements of the HRA
and covenants to perform the terms and conditions of loan, purchase, development and
lease agreements executed by the HRA, by Resolution on January 8, 2009.
NOW THEREFORE BE IT RESOLV"ED by the Board of Commissioners as follows:
1. The HRA shall assign, transfer and convey to the Hastings Economic
Development and Redevelopment Authority, a public body corporate and politic, under
flee laws of flee State of Minnesota, any and all rights, title, interests and obligations the
HRA may have, whatsoever, in Hastings Tax Increment Financing District No. 3
(Guardian Angels Housing District) and Hastings Tax Increment Financing District
No. 4, (Downtown Ri~~erfront Rede~~elopment District) including but not limited to all
contracts, purchase agreements, tax increment note agreements, loan agreements,
promissory notes, repayment agreements, mortgages, security agreements, assignments of
rents, fixture financing statements, subordination agreements, leases, demolition
agreements, development agreements, easements, cash on band, financial accounts.
accounts receivable and any other documents evidencing an interest owned by, or
obligation of, the HRA.
2. The Chairperson of the HRA is hereby authorized to execute on behalf of the
HRA all documents necess:uy to effectuate such assignments, transfers and conveyances.
Commissioner seconded the foregoing resolution and upon being put
to a vote, the follo~nnng commissioners voted in favor of the resolution:
Ayes:
Nays:
Absent:
Whereupon the Chairperson declared the Resolution duly adopted by the HRA Board of
Commissioners.
Pamela Holzem, its Chairperson
ATTEST:
John Crrossman, Director