HomeMy WebLinkAboutEDA RES 2005-15
COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2005-15
RESOLUTION APPROVING A SECOND AMENDMENT 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 I. Recitals.
1.0 I. The Authority and New Heights Development, LLC (the "Redeveloper") entered into
a Contract for Private Redevelopment dated September 22, 2003, as amended by First Amendment
thereto dated April 26, 2005 (the "Contract"), setting forth the terms and conditions of
redevelopment of certain property within the Redevelopment Project, generally located east of
Central Avenue, between 47th and 49th Avenues.
1.02. The parties have determined a need to amend the Contract further, 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 Second Amendment to the Contract and finds that the
execution thereof and performance of the Authority's obligations thereunder are in the best interest
of the City and its residents.
Section 2. Authority Ap\Jroval; Further Proceedings.
2.01. The Second 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 Second 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 of the Second 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 22nd day of November, 2005. J yl~ t .
President, r:96n Murzyn r.
ATTEST: ~
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Secretary- ~ryl Bakken
SJB.271123vl
CL205.20