Title
RESOLUTION AUTHORIZING THE PROPER CITY OFFICIALS TO ENTER INTO A FOURTH AMENDMENT TO GENERAL FUND APPROPRIATION BOND MASTER GRANT AGREEMENT WITH THE MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT (DEED) FOR THE DULUTH REGIONAL EXCHANGE DISTRICT PROJECT.
Body
CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to enter into a fourth amendment to general fund appropriation bond master agreement (Grant Agreement) with the Minnesota department of employment and economic development (DEED), substantially the same as the attached Document A, for the release of funding for the Duluth regional exchange district project no. 7, referred to as the medical entity east parking ramp, in the amount of $14,000,000.00.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes the execution of a fourth amendment to the general fund appropriation bond master grant agreement (Grant Agreement) with the Minnesota department of employment and economic development (DEED) for the Duluth regional exchange district (RED) to release funding for RED Project No. 7 described as a parking ramp with up to 400 parking stalls to serve medical entity east, to be constructed pursuant to an agreement with St. Luke’s Hospital of Duluth in the amount of $14,000,000.00.