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HomeMy WebLinkAboutEDA RES 2005-08 COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2005-08 RESOLUTION APPROVING A FIRST Al\1ENDMENT TO CONTRACT FOR PRIVATE REDEVELOPMENT BETWEEN THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY AND NEW HEIGHTS DEVELOPMENT, LLC BE IT RESOLVED By the Board of Commissioners ("Board") of the Columbia Heights Economic Development Authority ("Authority") as follows: Section 1. Recitals. 1.01. The Authority and New Heights Development, LLC (the "Redeveloper") entered into a into a Contract for Private Redevelopment dated September 22, 2003 (the "Contract"), setting forth the tenns and conditions of redevelopment of certain propert~ within the Redevelopment Project, generally located east of Central Avenue, between 4ih and 491 Avenues. 1.02. The parties have determined a need to amend the Contract to facilitate the acquisition of certain easements needed for construction of streets to serve the development under the Contract, through acquisition of such easements by the City using its powers of eminent domain. 1.03. The Board has reviewed a First Amendment to the Contract and finds that the execution thereof and perfonnance of the Authority's obligations thereunder are in the best interest of the City and its residents. Section 2. Authority Approval; Further Proceedings. 2.01. The First Amendment to the Contract as presented to the Board is hereby in all respects approved, subject to modifications that do not alter the substance of the transaction and that are approved by the President and Executive Director, provided that execution of the documents by such officials shall be conclusive evidence of approval. 2.02. The President and Executive Director are hereby authorized to execute on behalf of the Authority the First Amendment to the Contract and any documents referenced therein requiring execution by the Authority, and to carry out, on behalf of the Authority its obligations thereunder. 2.03. Upon execution ofthe First Amendment, the Authority requests the City to promptly commence actions necessary to acquire the Easements (as defined in the First Amendment), using the "quick take" procedure under Minnesota Statutes, Chapter 117. Approved by the Board of Commissioners of the Columbia Heights Economic Development Authority this 26 day of April 2005. J-l ~ 9., preside~- Don Mu zyn, If. ' u~/.? ~ Secre ary- Cheryl Bakken SJB-261798v 1 CL205-20