HomeMy WebLinkAboutEDA RES 2010-10EDA Resolution 201.0 -10
Second Amendment to "Contract for Private Redevelopment by and Between the
Columbia Heights Economic Development Authority, Columbia Heights, Minnesota
and Greater Metropolitan Housing Corporation" dated November 27, 2007
WHEREAS, the Columbia Heights Economic Development Authority (EDA) entered
into an agreement entitled, "Contract for Private Redevelopment by and Between the
Columbia Heights Economic Development Authority, Columbia I-leights, Minnesota and
Greater Metropolitan Housing Corporation, dated as of November 27, 2010, as amended
by a First Amendment dated January 27, 2009 (the Agreement), and
WHERAS, the Agreement contract outlined the terms and conditions for redevelopment
of property addressed as 3805 Second Street, and
WHEREAS, the end result of the redevelopment is the construction and sale of two
single family homes by Greater Metropolitan Housing Corporation, and
WHEREAS, Section 4.3 (a) "Completion of Construction" requires a commencement
date of May 1, 2010 and a construction completion date of December 31, 2010,
WHEREAS, due to economic conditions causing declining sales prices the
redevelopment project has been delayed, and
WHEREAS, the parties have determined to modify the Agreement in order to
accommodate a change in the construction schedule and certain other details.
NOW THEREFORE BE IT RESOLVED, by the board of commissioners of the
Columbia Heights Economic Development Authority as follows:
1. The FDA approves a Second Amendment to the Agreement in substantially the
form on file in City Hall.
2. The FDA's president and executive director are authorized and directed to
execute the Second Amendment, with changes that do not alter the substance of the
transaction; provided that execution of the document by those officials will be conclusive
evidence of their approval.
Passed this 22 "`� day of June, 2010.
Offered by: Diehm
Second by: Szurek
Roll Call: All ayes
Executive Dire tor, W ter R. Fehst
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