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<br /> . <br /> " .......~,,: - <br /> AGREEMENT IN REGARD TO JOINT FUNDING <br /> THIS AGREEMENT, made this 9tt.. day of llftt ,,~,~ I, , 1976 <br /> by and between the Housi.ng and Redevelopment Authority of New <br /> Brighton~ Minnesota, hereinafter referred to as 'IHRA" and the <br /> city of New Brighton, hereinafter referred to as "CITY- , <br /> witnesseth: <br /> WHEREAS, HRA is engaged in the planning and execution of <br /> certain redevelopment and other projects for the improvement <br /> of areas in the City of New Brighton, and <br /> WHEREAS, present funding is inadequate for HRA to complete <br /> these projects in a timely manner, and <br /> WHEREAS, CITY is desireous of assisting in the timely <br /> completion of the projects of HRA for the benefit of the <br /> residents of New Brighton, and <br /> WHEREAS, the Executive Director of HRA also holds the <br /> position of Building and Planning Coordinator of CITY, <br /> NOW, THEREFORE, in consideration of the mutual covenants <br /> and promises contained herein, the parties agree as follows: <br /> 1. CITY shall pay to HRA the sum of Sixteen Thousand <br /> Dollars ($16,000.00) on or before April 15, 1976. <br /> 2. CITY shall pay all salary compensation and additional <br /> employee benefits for the Building and Planning <br /> Coordinator/Executive Director as provided for in <br /> Resolution #1650 of CITY and in Section 240 of the <br /> 1966 Code of Ordinances of the City of New Brighton. <br /> 3. HRA shall pay to CITY a monthly amount equal to 35% <br /> of the monthly amount paid by CITY to the Building <br /> and Planning Coordinator/Executive Director according <br /> to Paragraph (2) above. <br /> 4. This agreement shall be retroactive to January 1, 1976 <br /> and shall continue through December 31, 1976. <br /> 5. The execution of this agreement shall be authorized <br /> by resolution of the governing bodies of the parties <br /> to this agreement. <br /> .' <br /> HOUSING & REDEVELOPMENT AUTHORITY OFi <br /> . ,NE ,BRIGHTON <br /> . <br /> ! <br /> Richard 'W. Daniels, Chqirman <br /> i <br /> Director.: <br />