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HomeMy WebLinkAboutEDA RES 2015-20RESOLUTION NO. 2015-20 RESOLUTION APPROVING FIRST AMENDMENT TO SITE LEASE AGREEMENT AND EASEMENT AGREEMENT FOR CELL TOWER ANTENNA BE IT RESOLVED By the Board of Commissioners (" "board ") of the Columbia Heights Economic Development Authority ("Authority") as follows: Section I. Recitals. 1.01. The Authority previously entered into a Site Lease Agreement with APT Minneapolis, Inc., dated December 4, 1996 (the "Lease"), for the installation and maintenance of a cell tower antenna on rooftop space located at the building known as Parkview Villa North (the "Facility"), 1,02. Subsequent to entering into the Lease, APT Minneapolis, Inc. transferred its interest in the cell tower antenna and Lease to T-Mobile Central LLC (the "Tenant"), 1.03. The Housing and Redevelopment Authority in and for the City of Columbia Heights (tire 'TIR-A") now intends to convey the Facility to Aeon ("Aeon"), but to allow the Authority to retain its interest in the Lease through a First Amendment to Site Lease Agreement (the "First Amendment'"),, which will ensure the receipt of lease proceeds by the Authority for an, additional 11- year terms. 1.04. Because the HRA will convey its ownership interest in the Facility to Aeon, the Authority and Aeon will also enter into an Easement Agreement (the '13asement"), pursuant to which the Authority will retain its leasehold interest in the Facility for the term of the First Amendment. 1.05. The Board has detennined that execution of tire First Amendment and Easement as described in this resolution is in the best interest of the City and its residents. Section 2, First Amendment and Easement Approved; Further Proceedings. 2.01. 'The First Amendment and Easement as presented to the Board are 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 Agreement by such officials shall be conclusive evidence of approval. 2.02. Authority staff and consultants are authorized and directed to deliver the executed First Amendment and Easement to the HRA in connection with the conveyance of the Facility to Aeon. Approved by the Board of Commissioners of the Columbia Heights Economic Development Authority this 21 st day of September, 2015, Ad -- NJA 0 P Presi t resi t B III I— - --2-L Secretary