RESOLUTION NO. 6760
A
RESOLUTION OF THE GOVERNING BODY OF THE CITY OF
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WHEREAS, the City of Lawrence,
Kansas (the “City”), by the adoption of Ordinance No. 8234 on February 19, 2008, created a redevelopment district (the
“Redevelopment District”) consisting of a single
redevelopment project area, the boundaries of which are contiguous with the
boundaries of the Redevelopment District (the “Project Area”); and
WHEREAS, by the adoption of Ordinance No. 8253 on April 8,
2008, the City will adopt a
redevelopment project plan entitled “The Oread Redevelopment Tax Increment
Financing Project Redevelopment Project Plan” and dated February 22, 2008 (the
“Project Plan”) which provides for the redevelopment of the Project Area within the Redevelopment
District; and
WHEREAS, the City desires to enter into that certain
12th & Oread Tax Increment Financing District Redevelopment
Agreement (the “Development Agreement”) by and between the City and Oread Inn,
L.C., a limited liability corporation organized and existing under the laws of
the State of Kansas (the “Developer”), dated as of April 8, 2008, in order to
provide for the implementation of the Project Plan.
NOW, THEREFORE, BE IT RESOLVED BY
THE GOVERNING BODY OF THE CITY OF
Section 1. The
Development Agreement is hereby approved in substantially the form presented to
the governing body
of the City on this date. The Mayor is
hereby authorized and directed to execute the Development Agreement.
Section 2. The Mayor,
Clerk and the other officers and representatives of the City are hereby
authorized and directed to take such other action as may be necessary to carry
out the provisions of the Development Agreement.
Section 3. This Resolution shall become effective upon its adoption by the Governing
Body of the City.
ADOPTED by the Governing Body of the City of
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[SEAL] Mayor
Attest:
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City Clerk