Title
RESOLUTION AUTHORIZING TERMINATION OF PRE-DEVELOPMENT AGREEMENT WITH TRUE NORTH GOODWILL NORTHERN MINNESOTA AND NORTHWESTERN WISCONSIN
Body
RESOLVED, by the Duluth Economic Development Authority (“DEDA”) that the proper DEDA officials are hereby authorized to enter into a termination agreement, substantially in the form of that attached hereto as Exhibit A, with True North Goodwill Northern Minnesota and Northwestern Wisconsin, terminating the Pre-Development Agreement (DEDA Contract No. 24 860 028) and the Memorandum of Option.
FURTHER RESOLVED, that DEDA’s Executive Director may take all such necessary actions, including the execution of any agreements, to terminate the implementation of the project.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize the termination of the Pre-Development Agreement between the Duluth Economic Development Authority (DEDA) and True North Goodwill Northern Minnesota and Northwestern Wisconsin and the Memorandum of Option for the True North Goodwill Resource Center Project at the Atlas Industrial Park. True North Goodwill has determined that the proposed project is not feasible and will not proceed. Execution of the termination agreement will formally conclude the contractual relationship and release both parties from further obligations. DEDA’s Executive Director will take action to terminate the grants DEDA received for Minnesota Department of Employment and Economic Development for this project. DEDA staff will continue to market this property for sale and development.