86-03HOUSING AND REDEVELOPMENT AUTHORITY
OF
CHANHASSEN, MINNESOTA
RESOLUTION
Dated September 18 r
Motion By W~itehill
1986
Resolution No. 86-3_
Seconded by Bohn
A RESOLUTION APPROVING ASSESSMENT AGREEMENT FOR LSR PROPERTIES
WHEREAS, LSR Properties, (the "Redeveloper"), owner of the following
described real property:
Lots i and 2, Block 2, Chanhassen Lakes Business Park,
Carver County, Minnesota,
have tendered to this Authority a proposed assessment agreement, pursuant to
Modification No. 5 to the Chanhassen Downtown Redevelopment Plan, providing for
the construction of certain improvements within the Chanhassen Downtown
Redevelopment Project Area.
NOW, THEREFORE, BE IT RESOLVED, as follows:
1. The proposed Assessment Agreement is hereby approved as consistent with the
Authority's Special Assessment Reduction Program.
2. The Chairman and Executive Director of the Authority are hereby directed and
authorized to execute on behalf of the Authority said assessment agreement
in the form attached hereto and made a part hereof, as Exhibit A.
3. The Chairman and Executive Director are hereby specifically authorized to
make assessment reduction payments pursuant to said assessment agreement on
the basis of the Minimum Market Value set forth in Section 3.3, and as com-
puted in Section 3.2 of said agreement.
4. The amount of the assessment reduction payment under said assessment
agreement is hereby determined to be $73,015.62 which amount is based upon
the Authority's determination that outstanding levied eligible assessments
total $73,015.62.
Passed and adopted this 18th day of September, 1986 by the Housing and
Redevelopment Authority of the City of Chanhassen, Minnesota.
ATTEST
Executive D~rector
Chairman
YES: Whitehill, Horn, Bohn and Swenson
NO: None
ABSENT: Robbins