Laserfiche WebLink
Way of �1� Kznata <br />515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(651) 766 -4029 / FAX: (651) 766 -4048 <br />www. ci.little -canad a. mn. us <br />MEMORANDUM <br />TO: President Fahey & Members of the EDA <br />FROM: Joel Hanson, City Administrator <br />DATE: August 5, 2004 <br />RE: EDA Actions for Redevelopment Project with Sherman Associates <br />MAYOR <br />Michael L Fahey <br />COUNCIL <br />Jim LaValle <br />Matt Anderson <br />Rick Montour <br />Bill t3lesener <br />ADMINISTRATOR <br />Joel R. Hanson <br />Attached is some extension documentation regarding revisions to agreements involving The <br />Lodge and The Villas with Sherman & Associates. These are made necessary by revisions to <br />legal descriptions for the involved property whereby some property was removed from The <br />Lodge and added to the Villas to assist in the layout of that project. <br />The developer is now closing on the units in The Villas and we need to correct the supporting <br />documentation relative to development agreements and legal descriptions. <br />Tom Bray of Briggs & Morgan has been involved in the drafting and review of these documents <br />given his background with the project. He has informed me that these documents are appropriate <br />for our approval. <br />Staff would recommend approval of the following documents as presented with the President <br />and Secretary to be authorized to execute same on behalf of the EDA, subject to reimbursement <br />of legal fees by the Developer for the costs in preparation and review of these documents. (That <br />amount is about 53,700 and the attorney for Sherman Associates believes this will not be a <br />problem). The documents to be approved are as follows: <br />- Consent to Plat <br />- Amendment to Easement Agreement — The Villas & The Lodge <br />- First Amendment to Development Agreement — The Villas <br />- First Amendment to Memorandum of Development Agreement -- The Villas <br />- First Amendment to Assessment Agreement — The Villas <br />- First Amendment to Mortgage — The Villas <br />- EDA Subordination Agreement — The Villas <br />First Amendment to Memorandum of Development .Agreement - The Lodge <br />- Second Amendment to Development Agreement -- The Lodge <br />- First Amendment to Master Subordination Agreement and Estoppel Coficate - <br />The Lodae <br />