HomeMy WebLinkAboutEDA RES 2009-07
COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2009-07
RESOLUTION APPROVING A SECOND AMENDMENT TO AMENDED AND
RESTATED CONTRACT FOR PRIVATE REDEVELOPMENT BETWEEN THE
COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, THE
CITY OF COLUMBIA HEIGHTS AND HUSET PARK DEVELOPMENT
CORPORATION
BE IT RESOLVED By the Bom-d of Commissioners ("Bom-d") of the Columbia Heights
Economic Development Authority ("Authority") as follows:
Section 1.
Recitals.
1.01. The 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 Millilesota Statutes, Sections 469.001 to 469.047 ("I-IRA Act").
1.02. The Authority, the City of Columbia Heights ("City") and Huset Park Development
Corporation (the "Redeveloper") entered into a into a Contract for Private Redevelopment dated as
of October 25, 2004, as amended by a First Amendment thereto dated Junc 16, 2008 (the
"Contract"), setting f01th 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 parties have determined a need to modify the Contract in certain respects, and
have caused to be prepared a Second Amendment to Amended and Restated Contract for Private
Redevelopment (the "Amended Contract").
1.04. The Board has reviewed the Amended Contract and fmds 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 Amended Contract as presented to the Bom-d 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 Amended Contract and any documents referenced therein reqniring execution by
the Authority, and to cany out, on behalf of the Authority its obligations thereunder.
Approved by the Board of Commissioners of the Columbia Heights Economic Development
Authority tins 9th day of February 2009.
Motion By: \Z.e~ 'L-"'^'~4
Second By: willlCH'\iI-S
Roll Call: (W ~
ATIEST:
Executif~st
President- Gmy 1. eterson
2