07-13-1998 EDA - Laserfiche WebLink

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RESOLUTION NO. 98-EDA-94 • MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING AN EXTENSION TO THE REQUIRED COMPLETION DATE FOR THE REQUIRED CONSTRUCTION OF A SINGLE FAMILY HOME AT 8265 SPRING LAKE ROAD BY PREFERRED BUILDERS,INC. WHEREAS, On January 30, 1998,the EDA sold the property located at 8265 Spring Lake Road through the Housing Replacement Program to Preferred Builders,Inc. subject to the construction of a 1900 square foot single family home; and WHEREAS,the Purchase and Redevelopment Agreement between the EDA and Preferred Builders, Inc. required the construction of a single family home to be completed by July 5, 1998, subject to Unavoidable Delays including adverse weather and delays by the local government authority; and WHEREAS,the City of Mounds View created a delay to the construction of the home due to an error in the Purchase and Redevelopment Agreement pertaining to the vacation of easements which required corrections on behalf of the city; and WHEREAS,the developer has indicated that in recent months the number of destructive storms have set back construction schedules for the builder as well as other contractors which has delayed efforts to complete construction of the home; and • WHEREAS, Preferred Builders, Inc. has obtained a building permit and has prepared the subject site for construction and has indicated construction will begin on or before July 15, 1998, and will be completed within 90 days. NOW THEREFORE,BE IT RESOLVED,that the Economic Development Authority of the City of Mounds View hereby recommends an extension to the completion date for the construction of a single family home located at 8265 Spring Lake Road as required by the Purchase and Redevelopment Agreement between the Mounds View Economic Development Authority and Preferred Builders, Inc. Adopted this 13th day of July, 1998. Duane McCarty, President ATTEST: Charles S. Whiting, Executive Director • EXHIBIT B