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HomeMy WebLinkAbout2016-62RESOLUTION NO. 2016 -62 A resolution of the City Council of Columbia Heights, Minnesota, Ratifying Approval of a Revised Development Contract for Plat of Huset Park Senior Living, Anoka County MN, Between the City of Columbia Heights and Columbia Heights Leased Housing Associates I, LLLP. WHEREAS, the City Council of Columbia Heights (the "City Council ") previously approved the Development Contract for Plat of Huset Park Senior Living (the "Contract ") on January 11, 2016, subject to modifications that do not alter the Contract; and WHEREAS, the Contract has not been fully executed; and WHEREAS, Columbia Heights Leased Housing Associates I, LLLP (the "Redeveloper ") has proposed to revise Section 8.1 and Exhibit B of the Contract to extend the letter of credit expiration date and completion dates due to financial delays. These revisions constitute a modification to the Contract, and as such requires the approval by the City Council; and WHEREAS, the City Council has reviewed he Contract as proposed to be revised and finds that the execution thereof and performance of the City's obligations thereunder are in the best interest for the City and its residents, and NOW, THEREFORE BE IT RESOLVED that the City Council authorizes the Mayor and the City Manager to execute the Development Contract for Plan of Huset Park Senior Living, Anoka County MN with Columbia Heights Leased Housing Associates I, LLLP on behalf of the City of Columbia Heights. ORDER OF THE CITY COUNCIL Passed this 111h day of July, 2016 Offered by: Schmitt Seconded by: Murzyn, Jr. Roll Call: All Ayes Gary L. Peterson, Mayor Attest: Katie Bruno, City Clerk Resolution 2016 -62