HomeMy WebLinkAboutContract 22012201
°F1 L..L ',. ,
FIRST AMENDMENT TO
CONTRACT FOR PRIVATE REDEVELOPMENT
THIS AGREEMENT, made on or as of the ~ day of May 2009, by and between the
COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, COLUMBIA HEIGHTS,
MINNESOTA, a public body corporate and politic (the "Authority"), established pursuant to
Minnesota Statutes, Sections 469.090 to 469.1081 (hereinafter referred to as the "Act"), the CITY
OF COLUMBIA HEIGHTS, a Minnesota municipal corporation (the "City"), and 37~H AND
CENTRAL LLC, a Minnesota limited liability company (the "Redeveloper").
WHEREAS, the City, the Authority and the Redeveloper entered into that certain Contract for
Private Redevelopment dated as of June 24, 2008 (the "Contract") providing for the redevelopment of
certain property described as the Redevelopment Property in the Contract; and
WHEREAS, under Section 4.3(a) of the Contract, the Redeveloper is obligated to cormmence
construction of the Minimum Improvements (as defined in that section) located on the
Redevelopment Property and substantially complete such construction by January 1, 2010; and
WHEREAS, the Redeveloper has requested the City and the Authority to extend the time for
commencement and completion of construction due to its inability to lease space in the
Redevelopment Property to tenants who fit the needs of the City due to the ongoing problems in the
credit markets; and
WHEREAS, the parties have determined a need to amend the Contract in order to allow the
Redeveloper sufficient time to lease the Redevelopment Property and construct the Minimum.
Improvements thereon.
NOW, THEREFORE, in consideration of the premises and the mutual obligations of the
parties hereto, each of them does hereby covenant and agree with the other as follows:
Section 4.3 of the Contract is amended read as follows:
Section 4.3. Completion of Construction. (a) Subject to Unavoidable Delays, the Redeveloper must
commence construction of the Minimum Improvements by May 1, 288-9 2010, and must substantially
complete construction of the Minimum Improvements by January 1, 28-1-8 2011.. All work with
respect to the Minimum Improvements to be constructed or provided by the Redeveloper on the
Redevelopment Property shall be in substantial conformity with the Construction Plans as submitted
by the Redeveloper and approved by the Authority and the City. If the Redeveloper is making
substantial progress with respect to the redevelopment project, and is unable to meet one or more of
the above-referenced deadlines, the Authority and the Redeveloper shall negotiate in good faith for a
reasonable period to extend the time in which necessary action(s) must be taken or occur, the lapse of
which time would otherwise constitute a default under this Agreement.
2. All other terms and conditions of the Contract shall remain fully in effect unless amended as
provided therein.
TN WITNESS WI-iEREOF, the Authority has caused this Amendment to be duly executed in
its name and behalf alid its seal to be hereunto duly affixed, and the City has caused this Amendment
to be duly executed in its name and behalf and its seal to be hereunto duly affixed, and the
Redeveloper has caused this Agreement to be duly executed in its name and behalf on or as of the date
first above written.
STATE OF MINNESOTA )
SS.
COUNTY OF ANOKA )
COLUMBIA HEIGHTS E MIC
DEVELOPME' AUT .GRIT
Its Prz"sident ~
By ,~
Its Executive Dire for
t ~ k k e foregoing instrument was acknowledged before me this 28`'' day of April, 2009, by
Th
~~- ~ .. ~' ~~4 =~-~ and ~.., f-~-~ ~-~ dr,~~ ,the President and Executive Director of the
Columbia Heights Economic Development Authority, a public body politic and corporate, on
behalf of the Authority.
PATR~CIA V. MU~C4YITZ
_ NOTARY PU6lJG MINNESOTA
My Exp! Q1,~i-~10
_~_ ,~ ~~
-~
. .~ _ ..
Notary Public gg
2
CITY
STATE OF MINNESOTA )
ss.
COUNTY OF ANOKA )
The foregoing instrument was acknowledged before me this I I th day of May, 2009, by
Gary Peterson and Walter R. Fehst, the Mayor and City Manager of the City of Columbia Heights,
a Minnesota municipal corporation, on behalf of the .
,~
~ ~ y
~~~ Notar Public
- :~T~1C6A V MUSC4YITZ ~, y
°'3`ARY PU6llC R~{~INE~OTA
'~~n Ot-X1.2010
,~ ,,~.~
$ ~., !
Y
Its City Manager
37TH AND CENTRAL LLC
STATE OF MINNESOTA )
ss.
COUNTY OF ~ 3<~~.~.,~ .` ~~.. )
By Christoph r Little
Its t~-~. 1 "'.~~
The foregoing instrument was acknowledged before me this ``day of April, 2009 by
Christopher Little, the ,~ ~ ~ ~ - ~~ ~ s , ~x ~ of 37th and Central LLC, a Mim~esota limited
liability company, on behalf of the company.
PATRICIA V. MUSGOVIT~
NOTARY PU~UC MI
~ Cow ~!-3t® 10
c
Notary Public
4