2016-013 - Laserfiche WebLink

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(e) The City makes no warranties or representations regarding the amount or availability of the Abatements. (f) In accordance with Section 469.1813, subdivision 8 of the Abatement Act, in no case shall the Abatement, together with all other abatements approved by the City under the Abatement Act and paid in any one year exceed the greater of 10%of the City's net tax capacity for that year or$200,000. 4. Approval of MIF. The City Council hereby accepts the MIF Grant in the amount awarded by DEED and, subject to approval by DEED of the City's application for the MIF Grant, hereby approves (i) entering into the Grant Agreement with DEED, (ii) entering into the MIF Loan Agreement with the Developer, and (iii) loaning the proceeds of the MIF Grant pursuant to the MIF Loan Agreement and any related documents referred to therein or necessary in connection therewith. 5. Execution of Documents. The City Council hereby approves (i) the Abatement Agreement, (ii) subject to approval by DEED of the City's application for the MIF Grant, the MIF Loan Agreement and the Grant Agreement, and (iii) any related documents referred to therein or necessary in connection therewith (collectively, the "Documents"). The Mayor and City Administrator are hereby authorized and directed to execute the Documents to which the City is a party, on behalf of the City, and to carry out, on behalf of the City, the City's obligations thereunder. In the event of absence or disability of such officers, any of the Documents authorized by this Resolution to be executed may be executed without further act or authorization of the Council by any duly designated acting official, or by such other officer or officers of the City as, in the opinion of the City Attorney, may act in their behalf. 6. Finalizing Documents. The approval hereby given to the Documents includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the City and by the officers authorized herein to execute said Documents prior to their execution; and said officers are hereby authorized to approve said changes on behalf of the City. The execution of any instrument by the appropriate officers of the City herein authorized shall be conclusive evidence of the approval of such Document in accordance with the terms hereof. 7. Conflicting Provisions. In the event of a conflict between the content of this resolution and the Documents,the terms of the Documents shall prevail. 8. Effective Date. This resolution is effective upon execution in full of the Abatement Agreement. APPROVED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS ON THIS 11TH DAY OF APRIL,2016. David Grant, Mayor AT ST: Amy Dietl, Ci Clerk