Laserfiche WebLink
Item No: 091 <br />�T i6 Meeting Date: Auqust 28 2017 <br />MOUNDSI, VfE— Type of Business: Council Business <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: James Ericson, City Administrator <br />Item Title/Subject: Resolution 8822 Approving Consent to Partnership Change in Silver <br />Lake Commons Project <br />Discussion: <br />The City entered into an agreement regarding the development and operation of the project <br />commonly known as Silver Lake Commons in December of 1998. One of the City's partners in <br />that development agreement was the Mounds View Family Limited Partnership. Recently, that <br />partnership has undergone a restructuring which has resulted in a new allocation of partnership <br />interests among the partners of that organization. The City has been notified of this change, and <br />has been asked to sign an "Acknowledgment and Consent" to such changes. The attached <br />resolution authorizes city staff to execute this document. Based upon the City's review of the <br />information provided, the change in corporate structure of the partnership does not impact any of <br />the duties or obligations under the existing agreement. <br />Recommendation: <br />Approve Resolution 8822 granting consent to a partnership change in the Silver Lake <br />Commons project. <br />Respectfully submitted, <br />James Ericson <br />City Administrator <br />506522V I AMB MU210-17 <br />