HomeMy WebLinkAboutEDA RES 2009-22COLUMBIA I4EIGHTS ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2009 -22
RESOLUTION APPROVING A THIRD AMENDMENT TO AMENDED AND
RESTATED CONTRACT FOR PRIVATE REDEVELOPMENT BETWEEN THE
COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, TIIE
CITY OF COLUMBIA HEIGHTS AND HUSET PARK DEVELOPMENT
CORPORATION
Recitals
Section 1.
1.01. The Authority has determined a need to exercise,the powers of a Dousing 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 Minnesota
Statutes, Sections 469.001 to 469.047 ("HRA Act ").
1.02. The Authority, the City of Columbia Heights ( "City") and Huset Park Development
Corporation (the "Redeveloper ") entered uito a into An Amended and Restated Contract for Private
Redevelopment dated as of August 1, 2007, as amended by a First Amendment thereto dated June 16, 2008
and a Second Amendment thereto dated as of February 9, 2009 (the "Contract"), setting forth the terms and
conditions of redevelopment of cer[ahi property within the Redevelopment Project, generally located east of
University Avenue and south and west of f luset Park.
1.03. The parties have determined a need to modify the Contract in certain respects, and have
caused to be prepared a Third Amendment to Amended and Restated Contract for Private Redevelopment
(the "Amended Contract ").
1.04. The Board has reviewed the Amended 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. Authority Approval; further Proceedings.
2.01. The Amended Contract as presented to the Board 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 oil behalf of the
Authority the Amended Contract and any documents referenced therein requiring execution by the Authority,
and to carry out, on behalf of the Authority its obligations thereunder.
Passed this 25'1' day of August 2009
Offered By: Dielnn
Second By: Kelzenberg
Roll Call: All ayes
ATTEST:
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Secretary, Shelley H on