HomeMy WebLinkAbout2005-141 Council Resolution•
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CITY OF LINO LAKES
RESOLUTION NO. 05-141
RESOLUTION APPROVING A FIRST AMENDMENT TO CONTRACT
FOR PRIVATE DEVELOPMENT BETWEEN THE LINO LAKES
ECONOMIC DEVELOPMENT AUTHORITY, THE CITY OF LINO LAKES
AND LEGACY HOLDINGS /LINO LAKES, LLC
BE IT RESOLVED By the City Council ( "Council ") of the City of Lino Lakes,
Minnesota ( "City ") as follows:
Section 1. Recitals.
1.01. The Lino Lakes Economic Development Authority ( "Authority ") administers
Development District No. 1 (the "Project)" pursuant to Minnesota Statutes, Sections
469.124 to 469.134 ( "Development District Act ").
1.02. The Authority, the City and Legacy Holdings /Lino Lakes, LLC (the
"Developer") entered into a into a Contract for Private Development dated December 20,
2004 (the "Contract "), setting forth the terms and conditions of redevelopment of certain
property within the Project, referred to generally as the Legacy at Woods Edge Project.
1.03. The parties have determined a need to amend the Contract in certain
respects, and in that regard the Council has reviewed a draft First Amendment to the
Contract and finds that the execution thereof and performance of the City's obligations
thereunder are in the best interest of the City and its residents.
Section 2. City Approval; Further Proceedings.
2.01. The First Amendment to the Contract as presented to the Council is hereby
in all respects approved, subject to modifications that do not alter the substance of the
transaction and that are approved by the Mayor and City Administrator, provided that
execution of the documents by such officials shall be conclusive evidence of approval.
2.02. The Mayor and City Administrator are hereby authorized to execute on
behalf of the City the Contract and any documents referenced therein requiring execution
by the City, and to carry out, on behalf of the City its obligations thereunder.
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• Approved by the City Council of the City of Lino Lakes, Minnesota this 13th day of
September, 2005.
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ATTEST:
Jean Vi • ° r, l eputy Clerk
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Jol'f Berg son, Mayor