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CITY OF FALCON HEIGHTS <br />l~ <br />No. R-86-10 <br />C O U N C I L R E S O L U T I O N <br />Date February 26, 1986 <br />A RESOLUTION RELATING TO <br />REVISED DEVELOPMENT PLANS OF STRATFORD INVESTMENTS, LTD. FOR <br />HAWRINS PROPERTY <br />RESOLVED, That <br />WHEREAS, Stratford Investments, Ltd. (the Developer) <br />has advised the City of certain required changes in the proposed <br />development of the Hawkins and Olson properties arising from <br />the current unavailability of the Olson property; and <br />WHEREAS, the Developer has increased the size and upgraded <br />the quality of the buildings to be constructed on the Hawkins <br />property thereby increasing the estimated market value and <br />assessed value previously anticipated for the project, which <br />fact has been corroborated by the Ramsey County Assessor; <br />and <br />WHEREAS, the aforesaid changes require certain modifications <br />in the Development Agreement currently being negotiated between <br />• the Developer and the City. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council <br />of the City of Falcon Heights that the Clerk-Administrator <br />and City Attorney be authorized to negotiate any necessary <br />.amendments to the Development Agreement relating to the Stratford <br />Office Condominium Project to reflect the increased market <br />and assessed values and, in addition, to negotiate a separate <br />agreement with the Developer for the purchase by the Developer <br />MOVed by Mayor Baldwin <br />Yeas <br />Seconded by <br />tf'`~BALDWIN <br />c.-~'C.`IERNIA <br />~~iARD <br />j/C'HENOWETH <br />Councilmember Ciernia <br />Nays <br />~I in Favor <br />Against <br />opted by COUncil February 26, 1986 <br />Approved by~ _~~~ ~-xJti, <br />yor <br />- ~ ~ .~ <br />Date <br />Attested by ~ ~. <br />er Administrator <br />Date <br />