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HomeMy WebLinkAboutContract 220222oz Grant No. SG006-166 - :~ SECOND AMENDMENT OF METROPOLITAN LIVABLE COMMUNITIES ACT LIVABLE COMMUNITIES DEMONSTRATION ACCOUNT DEVELOPMENT GRANT PROGRAM GRANT AGREEMENT THIS AGREEMENT is made and entered into by the Metropolitan Council ("Council") and the City of Columbia Heights ("Grantee"). WHEREAS, on February 9, 2007 the Council and the Grantee entered into a grant agreement identified as Council Grant No. SG006-1.66 under which the Council provided $974,369.00 in Livable Communities Demonstration Account grant program funds to the Grantee to help support the Grantee's Grand Central Lofts project; and WHEREAS, the Grantee's project was described as a 15-acre redevelopment of a vacant Kmart store site that was planned to occur in two phases, the second of which phases was expected to begin in 2007 and include the construction of 47,698 square feet of new retail, office and restaurant space and a publicly owned two-story 230-stall. parking ramp; and WHEREAS, the grant agreement identified the construction of the 230-stall public parking ramp as the purpose for which the grant funds could be used; and WHEREAS, in August 2008, the Grantee requested aone-year extension. of the grant agreement to allow more time for the project to be completed; and WHEREAS, on October 24, 2008 the Grantee and Grand Central Commons LLC entered into an Easement and Maintenance Agreement for the construction, maintenance and use of the parking ramp which granted a public parking easement in favor of the Grantee regarding tl~e parking ramp; and WHEREAS, on December 5, 2008, the Grantee and the Council executed an amendment to Grant No. SG006-166 which changed the December 31, 2008 "End Date" of the grant agreement to December 31, 2009; and WHEREAS, on January 29, 2009 the Grantee requested a change to the end use of the redevelopment project for which the grant funds were awarded indicating that the proposed commercial, retail, restaurant and office space would be reduced from 47,698 square feet to 35,000 square feet (a 27 percent reduction) and the 230-stall parking ramp would be reduced to a 180- stall parking ramp (a 22 percent reduction); and Page 1 of 3 Page s WHEREAS, at its March 11, 2009 meeting, the Metropolitan Council's governing body authorized an amendment to the project description contained in Attachment A of Grant No. SG006-166 to reflect a reduction of the size of the project's commercial space, a reduction in the size of the parking ramp associated with the project, and a reduction in the amount of the grant from $974,369.00 to $760,008.00; and WHEREAS, the Metropolitan Council's governing body noted in its March 11, 2009 action that the Grantee could, if it chose to do so, continue to proceed under the terms of the original grant agreement; and WHEREAS, the Grantee has chosen to accept a reduced grant amount and proceed with the project as currently proposed which includes the construction of a 180-stall parking ramp. NOW THEREFORE, pursuant to Paragraph 4.03 of Grant No. SG006-166, as amended on December 5, 2008, and in consideration of the promises and covenants contained in this agreement, the Council and the Grantee agree to further amend Grant No. SG006-166 as follows: The "Grant Amount" identified at Page 1 of the grant agreement and referenced in Paragraph 2.01 is reduced from $974,369.00 to $760,008.00. 2. An amended project summary that describes eligible uses of the grant funds as approved by the Council is attached to this agreement and is incorporated into the grant agreement as Attachment A. The amended project summary replaces the project summary contained in the original grant agreement. The Council and the Grantee further agree that: (1) the Grantee will ensure the October 24, 2008 Easement and Maintenance Agreement for the construction, maintenance and use of the parking ramp continues to grant a public parking easement in favor of the Grantee regarding the 180-stall parking ramp; and (2) the December 31, 2009 "End Date" of the grant agreement is not changed. Except for these modifications, the provisions of Grant No. SG006-166, as amended on December 5, 2008, shall remain in force and effect without change. IN WITNESS WHEREOF, the Grantee and the Council have caused this agreement to be executed by their duly authorized representatives. This agreement is ffectve on the date of final execution by the Council. -, (~ Approved as to form: METROPfOLI~'A~1 COJdNCIL ,~` , ° _ _ BY Associate General Counsel Date Guy`Peter~on, Director Community Development Division _~~~ Page 2 of 3 Pages CITY OF CO MBIA~HEI(~HTS By Mary retersoniviayor Date a. ~ ' ~ h '~{ 'f _ ~' .. By m _ Walter R. Fehst, 4:ity Manager {P f Date ~¢' r SG006166LCDAAA 03/19/09 Page 3 of 3 Pages AMENDED PROJECT SUMMARY Grantee: City of Columbia Heights SG006-166 Project Name: Grand Central Lofts Project Location: 49`h and Central Avenue, Columbia Heights Council District: 2 Project Description: LCDA funds have been awarded for the second phase of the 15-acre redevelopment of the vacant K-Mart site located at the intersection of 47th Avenue N.E. and Central Avenue in Columbia Heights. The second phase, expected to begin in 2009, includes construction of 35,000 square feet of new retail, office and restaurant space in two buildings. LCDA funds are designated for construction of a two-story 1.80-stall parking ramp, which is privately owned but for which public access is guaranteed through an easement and maintenance agreement between the City of Columbia Heights and the property owner. Advisory Committee Comments on Demonstration, Innovation, Catalyst Elements of this Project: This project demonstrates redevelopment of an aging corridor to maximize commercial development in a small community and connect commercial uses with housing. The funding request is the right catalyst to move the project forward. Fundin Amount Re nested - __ _ Amount Awarded 12/]3/2006 Amended Award Amount --- Use .of Funds Contribute to the construction of a two- level, 180-stall privately-owned parking $974,369 $974,369 $760,008 ramp with public access guaranteed through an easement agreement between the City of Columbia Heights and the property owner. Previous LCA Grants Received For This Or Related Project: None. Development Timeline: Task Start Date End Date Parking ramp construction Spring 2009 12/31/2009