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HomeMy WebLinkAboutResolution 87-45RESOLUTION NO. 87-45 AUTHORIZING THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF COLUMBIA HEIGHTS TO PROCEED WITH EXECUTION OF A CONTRACT FOR PRIVATE REDE- VELOPMENT BY AND BETWEEN THE HOUSING AND REDEVELOPMENT AUTHORITY AND THE ROTTLUND COMPANY, INC. WHEREAS: The Housing and Redevelopment Authority in and for the City of Columbia Heights on May 21, 1987 adopted Resolution 87-8 approving the execution of a Redevelopment Contract between the HRA and the Rottlund Company, Inc.; and WHEREAS: The Housing and Redevelopment Authority's approval of the Redevelopment Contract was contingent upon the following occurrences: 1. The City Council concurrence with HRA approval of the Redevelopment Contract. 2. The City Council making available bond proceeds or other City funds in an amount sufficient to pay the costs of the Agency's activities. 3. The City Council approval of the Modification to the Downtown CBD Revitalization Plan relating to the Redevelopment Project, and the establishment of the Sullivan Lake Tax Increment Financing District and the adoption of the proposed Tax Increment Financing Plan. NOW, THEREFORE, BE tT RESOLVED by the City Council of the City of Columbia Heights that the Housing and Redevelopment Authori:ty in and for the City of Columbia Heights is hereby authorized to execute a Contract for Private Redevelopment by and between the HRA and the Rotttund Company, Inc. BE IT FURTHER RESOLVED that the City Council's authorization is contingent upon the HRA~s preparation and submission of a final draft of the Contract for Private Redevelopment prior to execution for approval by the City Council in a form satisfactory to the City Attorney. BE IT FURTHER RESOLVED that this Resolution shall be effective upon execution of the Development Agreement between the HRA of Columbia Heights and the Passed thisbil~h^ - day of June, 1987. Offered by: Paul son Seconded by: Petkoff b~_.t~ ./~..//~a ~ Roll call: Paulson, Petkoff, Peterson- aye Cac~F~n - a i. wrock nay Mayor-'Bm~a~e G. Nawrocki ,9/-Anne Student, Cou[~-c~T-t Secretary