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HomeMy WebLinkAboutContract 2254Grant No. SG006-166 THIRD AMENDMENT AND SECOND EXTENSION 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. SG006-166 under which the Council provided $974,369.00 in Demonstration Account grant program funds to the Grantee to support the Grand Central Lofts project; and WHEREAS, on December 5, 2008 Grant No. SG006-166 was amended and the "End Date" was changed from December 31, 2008 to December 31, 2009 because the Grantee requested additional time within which to complete the project; and WHEREAS, on April 14, 2009 Grant No. SG006-166 was amended 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, on September 28, 2009 the Columbia Heights City Council adopted Resolution 2009-150 which states the project has not yet been constructed because of economic considerations and requests another extension to allow additional time within which to complete the project; and WHEREAS, Resolution 2009-150 indicates the Grantee expects the developer to start the project in 2010 and complete the project in 2011; and WHEREAS, pursuant to Paragraph 4.01 of Grant No. SG006-166 the grant agreement will terminate on its "End Date" of December 31, 2009; and WHEREAS, at its December 9, 2009 meeting the governing body of the Metropolitan Council approved the Grantee's request for a second extension subject to certain terms and conditions; and WHEREAS, the parties mutually agree that the grant agreement should be continued and extended beyond its December 31, 2009 End Date so the grant funds can be used for their intended purposes. Page 1 of 3 Pages 2254 NOW THEREFORE, pursuant to Paragraph 4.03 of Grant No. SG006-166 and in consideration of the promises and covenants contained in this agreement, the Council and the Grantee agree to amend and extend Grant No. SG006-166 as follows: 1. The "END DATE" identified at Page 1 of the Agreement and referenced in Paragraph 4.01, Term, is changed from December 31, 2009 to December 31, 2010, provided, however, that: a. The Grantee delivers to the Council documentation of full project financing by March 31, 2010. b. The Council shall not be responsible for any project expenses incurred prior to the delivery of documentation of full project financing, and no grant funds will be disbursed prior to the delivery of documentation of full project financing. c. The grant will terminate if documentation of full project financing is not delivered to the Council by March 31, 2010. Except for these modifications, the provisions of Grant No. SG006-166, as amended on December 5, 2008 and April 14, 2009, shall remain in force and effect without change and Grant No. SG006-1.66 shall be extended as provided in this agreement. IN WITNESS WHEREOF, the Grantee and the Council have caused this agreement to be executed by their duly authorized representatives. This agreement is effective on the date of final execution by the Council. Approved as to Form: .~~,, ' -_ - - ~`~~~' Associate L~neral Counsel METROPOLIT By: Guy Pete,,~son, Director Community Development Division Date: CITY OF COLUMBIA HEIHT .. _ v_. _. _ _.._ ~- Gar eters ,Mayor Date: ~ ,~.. --'~ "-_. Page 2 of 3 Pages sg006-166-Columbia heights-grand central lofts.doc a Walter R. Fehst, City Manager f Date: '' ~'? 11 / 18/2009 Page 3 of 3 Pages