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HomeMy WebLinkAboutResolution No. 2004-56CITY OF COLUMBIA HEIGHTS RESOLUTION NO. 2004-56 RESOLUTION APPROVING A CONTRACT FOR PRIVATE REDEVELOPMENT BETWEEN THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, THE CITY OF COLUMBIA HEIGHTS AND SCHAFER RICHARDSON, INC OR A RELATED ENTITY BE IT RESOLVED By the City Cottncil ("Council") of the City of Colmnbia Heights, Minnesota ("City") as follows: Section 1. Recitals. 1.01. The Columbia Heights Economic Development Authority ("Authority") has determined a need to exercise the powers of a housing and redevelopment authority, pursuant to Minnesota Statutes, Sections. 469.090 to 469.108 ("EDA Act"), and is currently administering the Downtown CBD RedevelOPment Project ("Redevelopment Project") pursuant to Minnesota Statutes, Sections 469.001 to 469.047 ("HRA Act"). 1.02. The Authority, the City and Schafer Richardson, Inc. or a related entity (the "Redeveloper") have proposed to enter into a into a Contract for Private Redevelopment (the "Contract"), setting forth the terms and conditions of redevelopment of certain property within the Redevelopment Project, generally located east of University Avenue and south and west of Huset Park. 1.03. The Council has reviewed the Contract and finds that the execution thereof and performance of the City's obligations thereunder are in the best interest of the City and its residents. Section 2. City Approval; Further Proceedings. 2.01. The Contract as presented to the Council is hereby in all respects approved, subject to modifications that do not alter the substance of the transaction and that are approved by the Mayor and City Manager, provided that execution of the docmnents .by such officials shall be conclusive evidence of approval. 2.02. The Mayor and City Manager are hereby authorized to execute on behalf of the City the Contract and any documents referenced therein requiring execution by the City, and to carry out, on behalf of the City its obligations theretmder. Dated this 27~n day of September 2004. Offered by: Seconded by: Roll Call: Ericson Kelzenberg Ayes: Wyckoff, Williams, Ericson, Kelzenberg Nay: Nawrocki ATTES~F:~ - ,~ Pafflcia Muscovitz, CMC Deputy City Clerk/Council Secretary rJ' ykoff ~