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10/13/2020 Resolutions 2020-254RESOLUTION 2020-254 A RESOLUTION APPROVING AN APPROVING A REDEVELOPMENT CONTRACT AUTHORIZING THE EXECUTION OF A REDEVELOPMENT CONTRACT WITH J& L WESTWARD, LLC, THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND AND THE CITY OF GRAND ISLAND; APPROVING THE USE OF TAX INCREMENT FINANCING., EVIDENCED BY A NOTE OR OTHER OBLIGATION, IN A PRINCIPAL AMOUNT NOT TO EXCEED $359,625 FOR THE PURPOSE OF PAYING THE COSTS OF ACQUIRING, PROPERTY AND OTHER NECESSARY ACTIVITIES CONTAINED IN A REDEVELOPMENT PLAN FOR CRA AREA #25 AS APPROVED BY THE CITY OF GRAND ISLAND, APPROVING THE FORM AND CERTAIN DETAILS OF THE NOTE; TAKING OTHER ACTIONS AND MAKING OTHER COVENANTS AND AGREEMENTS IN CONNECTION WITH THE FOREGOING; AND RELATED MATTERS. BE IT RESOLVED BY THE MAYOR AND CITY COUNCII. OF THE CITY OF GRAND ISLAND, NEBRASKA: ARTICLE I FINDINGS AND DETERMINATIONS Section 1.1. Findings and Determinations. The Mayor and member of the City Council of Grand Island, Nebraska (the "City") hereby find and determine as follows: (a) The Community Development Authority of the City of Grand Island, Nebraska (the "Authority"), pursuant to the Plan Resolution (hereinafter defined), approved the J Site Specific Redevelopment Plan City of Grand Island Redevelopment Area #25 (CAAP) Plan July 2020 (the "Redevelopment Plan") under and pursuant to which the Authority shall undertake from time to time to redevelop and rehabilitate the Redevelopment Area (hereinafter defined). (b) The Redevelopment Area lies within Hall County Sanitary Improvement District Number 5(SID #5), which district was created and approved by the Hall County, Nebraska District Court on December 18, 2018. (c) The Redevelopment Area, was formerly owned by, leased to or otherwise possessed by the United States under the jurisdiction of the United States Secretary of Defense and was part of the Cornhusker Army Ammunition Plant. (d) The City adopted ordinance #9645, on August 22, 2017, expressing the intent of the City to annex the Redevelopment Area when the same shall become eligible for annexation. (e) It is in the best interests of the City that City approve the Redevelopment Contract, a copy of which is attached hereto and marked as E�chibit "A" and that the Authority be appointed by the City to implement the Redevelopment Plan. (� Pursuant to the Redevelopment Plan, the Authority has previously obligated itself and/or will hereafter obligate itself to provide a portion of the financing to acquire property at the cost and expense Approved as to Form tt October 12, 2020 tt City Attorney of the Redeveloper, a portion of the cost of the property (as defined in the Redevelopment Contract hereinafter identified) in the Redevelopment Area (the "Project Costs"), including, without limitation) the cost of acquiring, constructing, reconstructing, improving, extending, rehabilitating, installing, and completing the acquisition of the Project Site (as defined in the Redevelopment Contract), (collectively, the "Project"), as more fully described in the Redevelopment Contract (hereinafter defined). (g) The Authority is authorized by the Redevelopment Law (hereinafter defined) to issue bonds for the purpose of paying the costs and expenses of the Project. (h) The Mayor and Clerk are autharized and directed to execute, on behalf of the City the Redevelopment Contract, a copy of which is attached hereto as E�►ibit "A". ARTICLE II MISCELLANEOUS Section 2.1. General and Specific Authorizations; Ratification of Prior Actions. Without in any way limiting the power, authority or discretion elsewhere herein granted or delegated, the City hereby (a) authorizes and directs the Authority, Finance Directar, Planning Director and all other officers, officials, employees and agents of the City and Authority to carry out or cause to be carried out, and to perform such obligations of the City and such other actions as they, or any of them, in consultation with Special Counsel, shall consider necessary, advisable, desirable or appropriate in connection with this Resolution, including without limitation the execution and delivery of all related documents, instruments, certifications and opinions, and (b) delegates, autharizes and directs the Finance Director the right, power and authority to exercise his or her independent judgment and absolute discretion in (1) determining and finalizing all terms and provisions to be carried by the Note not specifically set forth in this Resolution and (2) the taking of all actions and the making of all arrangements necessary, proper, appropriate, advisable or desirable in order to effectuate the funding of the Note. The execution and delivery by the Finance Director or by any such other officers, officials, employees or agents of the City of any such documents, instruments, certifications and opinions, or the doing by them of any act in connection with any of the matters which are the subject of this Resolution, shall constitute conclusive evidence of both the Autharity's and their approval of the terms, provisions and contents thereof and of all changes, modifications, amendments, revisions and alterations made therein and shall conclusively establish their absolute, unconditional and irrevocable authority with respect thereto from the Authority and the authorization, approval and ratification by the Autharity of the documents, instruments, certifications and opinions so executed and the actions so taken. All actions heretofore taken by the Finance Director and all other officers, officials, employees and agents of the Authority, including without limitation the expenditure of funds and the selection, appointment and employment of Special Counsel and financial advisors and agents, in connection with issuance and sale of the Note, together with all other actions taken in connection with any of the matters which are the subject hereof, be and the same is hereby in all respects autharized, adopted, specified, accepted, ratified, approved and confirmed. -2- Section 2.2 Benefits of Resolution Limited to the Authority. With the exception of rights or benefits herein expressly conferred, nothing expressed or mentioned in or to be implied from this Resolution ar the Note is intended ar should be construed to confer upon or give to any person other than the Authority any legal or equitable right, remedy or claim under or by reason of or in respect to this Resolution or any covenant, condition, stipulation, promise, agreement or provision herein contained. The Resolution and all of the covenants, conditions, stipulations, promises, agreements and provisions hereof are intended to be and shall be for and inure to the sole and exclusive benefit of the City and the Authority. Section 2.3. No Personal Liability. No officer or employee of the Authority shall be individually or personally liable for the funding of the principal of the Note. Nothing herein contained shall, however, relieve any such officer or employee from the performance of any duty provided or required by law. Section 2.4 Partial Invalidity. If any one or more of the covenants or agreements or portions thereof provided in this Resolution on the part of the City, the Autharity or the Registrar to be performed should be determined by a court of competent jurisdiction to be contrary to law, then such covenant ar covenants, or such agreement ar agreements, or such portions thereof, shall be deemed severable from the remaining covenants and agreements or portions thereof provided in this Resolution and the invalidity thereof shall in no way affect the validity of the other provisions of this Resolution ar of the Note, but the Owner of the Note shall retain all the rights and benefits accorded to them hereunder and under any applicable provisions of law. If any provisions of this Resolution shall be held or deemed to be or shall, in fact, be inoperative or unenforceable or invalid as applied in any particular case in any jurisdiction or jurisdictions or in all jurisdictions, or in all cases because it conflicts with any constitution ar statute or rule of public policy, or for any other reason, such circumstances shall not have the effect of rendering the provision in question inoperative or unenforceable or invalid in any other case or circumstance, or of rendering any other provision ar provisions herein contained inoperative ar unenforceable or invalid to any extent whatever. Section 2.5. Law and Place of Enforcement of this Resolution. The Resolution shall be construed and interpreted in accordance with the laws of the State. All suits and actions arising out of this Resolution shall be instituted in a court of competent jurisdiction in the State except to the extent necessary for enfarcement, by any trustee or receiver appointed by or pursuant to the provisions of this Resolution, or remedies under this Resolution. Section 2.6. Effect of Article and Section Headings and Table of Contents. The headings or titles of the several Articles and Sections hereof, and any table of contents appended hereto or to copies hereof, shall be solely for convenience of reference and shall not affect the meaning, construction, interpretation or effect of this Resolution. Section 2.7. Repeal of Inconsistent Resolution. Any Resolution of the City and any part of any resolution, inconsistent with this Resolution is hereby repealed to the extent of such inconsistency. Section 2.8. Publication and Effectiveness of this Resolution. This Resolution shall take effect and be in full force from and after its passage by the City of Grand Island. Section 2.9 Authority to Execute Redevelopment Contract a. The Mayor is authorized and directed to execute the Redevelopment Contract in the forms presented (Attachment A) with such changes as the Mayor, in his discretion deems proper. x� Adopted by the City Council of the City of Grand Island, Nebraska, October 13, 2020. �--- �c. Roge . Steele, ayor Attest: �n���� RaNae Edwards, City Clerk �