Resolution 85-01 - Laserfiche WebLink

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RESOLUTION AUTHORIZING AN AMENDMENT TO THE COOPERATION AGREEMENT WHEREAS, the Housing and Redevelopment Authority of Pequot Lakes, Minnesota, has developed and does administer a low-rent housing project consisting of 60 dwelling units; and WHEREAS, the Housing and Redevelopment Authority of Pequot Lakes, Minnesota, did enter into a Cooperative Agreement with the City of Pequot Lakes , Minnesota, on the 9th day of March, 1970 , in connection with such project; and WHEREAS, The Housing and Redevelopment Authority of Pequot Lakes, Minnesota, did enter into an amended Cooperative Agreement, dated May 12 , 1980 , with the City of Pequot Lakes ,, Minnesota, in connection with such Project; and WHEREAS, the City of Pequot Lakes, Minnesota, at a regular meeting on September 12 , 1983 , did request an amendment to the Cooperation Agreement to increase the annual payment in lieu of taxes from 5 percent to 10 percent of the collected rents; and WHEREAS, the Housing and Redevelopment Authority is in agree- ment with this requested increase of the annual payment in lieu of taxes from 5 percent to 10 percent; NOW, THEREFORE, BE IT RESOLVED: 1. That the City of Pequot Lakes , Minnesota, is requesting an amendment to the Amended Cooperation Agreement, increasing the payments in lieu of taxes from 5 percent to 10 percent , beginning in the year 1984 , subject to review and change annually and providing said payment shall not exceed 10 percent. 2 . That all other agreements entered into, in the original Cooperation Agreement and amendments thereto, shall remain in effect. 3. That the Mayor be , and is hereby authorized and directed to execute said amendment to the Amended Cooperation Agreement , in quadruplicate, on behalf of said City and the City Clerk is hereby authorized and directed to attest to the same.