Title
RESOLUTION AUTHORIZING A PRE-DEVELOPMENT AGREEMENT AND OPTION AGREEMENT WITH GOODWILL INDUSTRIES VOCATIONAL ENTERPRISES INC. FOR THE TRUE NORTH GOODWILL RESOURCE CENTER PROJECT
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RESOLVED, by the Duluth Economic Development Authority ("DEDA"), that the proper DEDA officials are hereby authorized to enter into a Pre-Development Agreement that includes an option agreement, substantially in the form of that attached hereto, with Goodwill Industries Vocational Enterprises Inc., now known as True North Goodwill Northern Minnesota and Northwestern Wisconsin, for the purposes of development of certain real property at Atlas Industrial Park, subject to the terms and conditions of a Development Agreement to be negotiated between the partes, located in the City of Duluth, County of St. Louis, State of Minnesota, pursuant to Minnesota Statutes 469.105., legally described as:
Lot 2, Block 3, ATLAS INDUSTRIAL PARK, and Lot 3, Block 3, ATLAS INDUSTRIAL PARK.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize a pre- development agreement with True North Goodwill Northern Minnesota and Northwestern Wisconsin (“Goodwill”) with an option to purchase two parcels in the Atlas Industrial Park. Goodwill intends to redevelop these two parcels at the Atlas Industrial Park to create a job training center for manufacturing. This will include an additional childcare center to provide service to area employers and employees. During the term of this agreement, Goodwill will apply for New Market Tax Credits for the proposed project and will perform additional analysis of the property in order to determine whether the property can be feasibly developed.
This option agreement will give Goodwill the opportunity to acquire the property for
$48,812 to implement the project if they should decide to proceed. During the option period, DEDA and Goodwill will negotiate a development agreement.