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MINUTES <br />CITY COUNCIL <br />SEPTEMBER 11, 2019 <br />Keis introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2019-9-102 — RECESSING THE CITY COUNCIL <br />MEETING AND CONVENING AS THE ECONOMIC <br />DEVELOPMENT A UTHORITY <br />The foregoing resolution was duly seconded by Montour. <br />Ayes (5). <br />Nays (0). Resolution adopted. <br />RELEASE OF 1995 <br />The City Administrator explained that in 1995, the City of Little Canada <br />MARKETPLACE <br />Economic Development Authority provided a loan to acquire, rehabilitate <br />CENTER <br />and enhance the Marketplace Center shooing center and entered into a <br />DEVELOPMENT <br />Development Agreement with Market Place Center, LLC. He explained <br />AGREEMENT <br />that city staff was contacted by representatives for Marketplace Center in <br />August requesting a release of the Development Agreement that was filed <br />on April 30, 1996. Staff has reviewed the Development Agreement and <br />other records related to this project and believes that all of the obligations <br />of the developer outlined in Section 4 of the Development Agreement <br />have been satisfied. He reported that there is no record of a termination <br />statement on file Ramsey County Property Records indicating that the <br />developer has satisfied the obligation of the Development Agreement and <br />stated that staff recommends EDA approval of a Certificate of Completion <br />indicating that the developer has satisfied all of the obligations of the <br />Development Agreement. <br />Montour introduced the following resolution and moved its adoption: <br />RES OL UTION NO. 2019-9-103 —APPROVE THE RELEASE OF THE <br />DEVELOPMENT AGREEMENT WITH MARKET PLACE CENTER <br />LIMITED LIABILITY COMPANY DATED DECEMBER 27, 1995 <br />The foregoing resolution was duly seconded by McGraw. <br />Ayes (5). <br />Nays (0). Resolution adopted. <br />M <br />