HomeMy WebLinkAboutResolution No. 2009-59CITY OF COLUMBIA HEIGHTS
RESOLUTION N0.2009-59
RESOLUTION APPROVING A FIRST AMENDMENT TO CONTRACT FOR PRIVATE
REDEVELOPMENT BETWEEN THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT
AUTHORITY, THE CITY OF COLUMBIA HEIGHTS
AND 37t" AND CENTRAL LLC
BE IT RESOLVED By the City Council (the "Council"} of the City Columbia Heights Minnesota,
(the "City") as follows:
Section 1. Recitals.
1.01. The City and the City of Columbia Heights Economic Development Authority (the
"Authority")and 37th and Central LLC (the "Redeveloper") entered into a Contract for Private
Redevelopment dated June 24, 2008 (the "Contract"), setting forth the terms and conditions of
redevelopment of certain properly within the Redevelopment Project, generally located west of Central
Avenue at 37`" Street.
1.02. The parties have determined a need to amend the Contract to facilitate the leasing of the
Minimum Improvements by granting an extension to the Redeveloper for the commencement of
construction to May 1, 2010 and completion of construction to January 1, 2011.
1.03. The Council has reviewed a First 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. City Approval; Further Proceedings.
2.01. The First Amendment to 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 documents by such officials shall be
~nni~h~ciye eyidan~e of apprn~~al,
2.02. The Mayor and City Manager are hereby authorized to execute on behalf of the City the
First Amendment to the Contract and any documents referenced therein requiring execution by the City,
and to cony out, on behalf of the City its obligations thereunder.
Passed this 11 `" day of May 2009
Offered by: Diehm
Second by: Williams
Roll call: Peterson, Williams, Nawrocki, Die:
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~~'atricia Muscovitz CMC City Clerk