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FRUM:NYEMASTER LAW FIRM TO. 515 278 0394 <br /> JUN 13. 1991 10:16AM #628 P.02 <br /> • RESOLUTION <br /> RESOLUTION APPROVING FINANCING <br /> AGREEMENT WITH IOWA REALTY CO. <br /> WHEREAS, Iowa Realty is the owner of a tract of land located <br /> generally west of 142nd Street and south of Hickman Road; and <br /> WHEREAS, the City has established pursuant to Chapter 403 of <br /> the Code of Iowa, the Clive Urban Renewal Area (the "Urban Renewal <br /> Area ") encompassing the property owned by Iowa Realty, <br /> Council has approved an urban renewal plan for th Urban Renewal <br /> Area; and <br /> WHEREAS, the City and Iowa Realty recognize and agree that <br /> construction of certain improvements and infrastructure is <br /> necessary to facilitate the future development of the Urban Renewal <br /> Area and the surrounding area as an integral part of the City; and <br /> WHEREAS, Iowa Realty Co. and the City of Clive, Iowa, have <br /> negotiated a Financing Agreement relating to such issues, a copy <br /> of said Agreement being attached hereto. <br /> WHEREAS, the City believes that the development of the Urban <br /> Renewal Area and the fulfillment generally of the Financing <br /> Agreement, are in the vital and best interests of the City and its <br /> residents and in accord with the public purposes and provisions of <br /> all applicable State and local laws; and <br /> WHEREAS, Iowa Realty is willing to develop its property in <br /> accordance with the uses specified in the urban renewal plan for <br /> the Urban Renewal Area and in accordance with the Financing <br /> Agreement; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF CLIVE, IOWA: <br /> That the attached Financing Agreement with Iowa <br /> Realty Co. be and is hereby approved and accepted by this <br /> City Council together with any modifications or <br /> amendments deemed necessary or desirable by City staff, <br /> and the Mayor is hereby authorized and directed to <br /> execute said Agreement on behalf of the City of Clive, <br /> Iowa; and the City Clerk is hereby authorized and <br /> directed to attest to the signature of the Mayor and to <br /> affix the City seal to the same. <br /> PASSED AND APPROVED this / / day of \ 4 ; , ✓. , 1991. <br /> /0131. <br /> • . c =ne ,•• ox, M: y• <br /> ATTEST: <br /> I : 4► <br /> Mar orie0S. Roberts, City -'erk <br />