HomeMy WebLinkAboutResolution 26-64 Approving an Estoppel Certificate for Fairway Commons, Limited PartnershipCITY OF FALCON HEIGHTS
COUNCIL RESOLUTION
luly 8,2026
No.26-64
A RESOLUTION AUTHORIZING AN ESTOPPEL CERTIFICATE FOR FAIRWAY
COMMONS, LIMITED PARTNERSHIP
WHEREAS, on June 24,2021, the City of Falcon Heights entered into an Encroachment, lJse,
and Maintenance Agreementwith Buhl, GTA GR LLC (Amber Union) authorizing the
encroachment upon City property for the construction and maintenance of certain parking
improvements associated with the Amber Union redevelopmenf subject to the City's right to
terminate the agreement with twelve (L2) months' written notice; and
WHEREAS, the City has been asked to provide an estoppel certificate relating to the
Encroachment, Use, and Mainteneince Agreement in connection with the closing of equity and
debt financing for the Fairway Commons affordable housing development located at1670
Larpenteur Avenue Wesf and
WHEREAS, U.S. Bancorp Community Development Corporatioru the investing partrer for
Fairway Commons, requires the estoppel certificate for financing purposes; and
WHEREAS, the City Administrator, with the concurrence of the City Attorney, has
administratively executed the Estoppel Certificate due to project timing needs and because the
certificate confirms only existing, unchanged terms of the Encroachmenf Use, and Maintenance
Agreemen! and
WHEREAS, the Estoppel Certificate confirms that the Parking Encroachment Agreement
remains in fuIl force and effect, has not been amended, modified, supplemented, or terminated,
and that no default exists under the agreemen! and
WHEREAS, the Estoppel Certificate also confirms the City will provide copies of any notice of
termination under the agreement to Fairway Commons, Limited Partrership, and U.S. Bancorp
Community Development Corporation at the specified addresses.
NOW THEREFORE BE IT RESOLVED by the Council of the City of Falcon Heights,
Minnesota:
1. The Estoppel Certificate for Fairway Commons, Limited Partrrership, is approved as
administratively executed by the City Administrator; and
2. The City Council authorizes the City Administrator and City staff to take any additional
actions necessary to implement this approval.
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Moved by:G.'-s\ a$sovr Approved
Randy
Mayor
July 8,2026
GUSTAFSON
MAY
MOGEN
WASSENBERG
MIELKE
'r In Favor
O Against
Attested by:
Jdck Linehan
City
July 8,2026
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