HomeMy WebLinkAbout20-EDA-335EDA RESOLUTION 20 -EDA -335
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
A RESOLUTION APPROVING AN AMENDMENT TO THE LOAN ORIGINATION
AGREEMENT WITH THE CENTER FOR ENERGY AND ENVIRONMENT
BE IT RESOLVED by the Board of Commissioners (the "Board") of the Mounds View
Economic Development Authority (the "Authority") as follows:
Section 1. Recitals.
1.01. The Authority is authorized pursuant to Minnesota Statutes, Sections 469.090 to
469.1081 (the "EDA Act"), to participate in providing certain loan programs (collectively, the
"Loans").
1.02. The Authority, on December 11, 2017, approved a Loan Origination Agreement
with the Center for Energy and Environment, a non-profit corporation formed under the laws of
the State of Minnesota.
1.03. The Authority has determined that an amendment is necessary in order to add anew
loan program assisting home owners and commercial businesses in inspecting and repairing their
sewer lines.
1.04. The Authority has negotiated the terms of the amendment to the Loan Origination
Agreement (the "Amendment"), a copy of which is attached as Exhibit A to this resolution
including the program guidelines and budget.
1.05. The Board has reviewed the Amendment and finds that the execution thereof by the
Authority and performance of the obligations thereunder are in the best interest of the Authority,
the City and its residents.
Section 2. Authorization.
2.01. The recitals set forth in this Resolution are incorporated into and made apart of this
Resolution.
2.02. The Board hereby approves the Amendment in substantially the form presented to
the Board on the date below and further subject to any modifications that do not alter the substance
of the transaction and that are approved by the Authority's attorney.
2.03. The proper Authority officials, staff and consultants are authorized to execute the
Amendment and to take any and all other steps necessary or convenient in order to carry out the
obligations under the Amendment, as well as to fulfill the intent of this Resolution.
637009v2MU205-13
EDA Resolution No. 20 -EDA -335
Page 2
Adopted on the 10th day of February, 2020.
Carol A. Mueller, President
Attest:
NylOtljj
quid, Executive Director
(SEAL)
2
637009v2MU205-13
EXHIBIT A
Amendment 2 to the Loan Origination Agreement
[to be added]
FEW
637009v2MU205-13
AMENDMENT 2 to the LOAN ORIGINATION AGREEMENT
Between
ECONOMIC DEVELOPMENT AUTHORITY in and for the CITY OF MOUNDS VIEW
And
CENTER FOR ENERGY AND ENVIRONMENT
City of Mounds View Home Improvement Loan Program
The Agreement made the day of , 2020 by and between the Economic Development
Authority in and for the CITY OF MOUNDS VIEW, with offices at 2401 Mounds View Blvd,
Mounds View, MN 55112, (the "Authority"), and CENTER FOR ENERGY AND
ENVIRONMENT, with its offices at 212 Yd Avenue North, Suite 560, Minneapolis, Minnesota
55401 ("CEE") is hereby amended.
1. Services/Scope of Work of the agreement shall read:
1.1 CEE shall, as directed by the Authority, develop and deliver the City of Mounds
View Loan Programs (hereinafter the "Program") which are more fully described in
Exhibit A2, attached hereto. All activities delivered under the Program shall be
coordinated with the Authority's designated representative, who shall be the Finance
Director or the Assistant City Administrator.
2. Compensation of the agreement shall read:
2.1 The Authority shall compensate CEE for services provided under this agreement
according to the following schedule and more fully described in Exhibit B2 attached
hereto:
Loan Origination Fee for all Residential Loans $750
Loan Origination Fee for all Commercial Loans $1050
Annual Administration Fee $2,500
Post Installation Inspection Fee $100
Amendment 2 One Time Set -Up Fee $1,500
The Annual Administration Fee shall be payable on January 1St of each year the contract
is active.
5. Term and Termination of the agreement shall read:
5.1 Unless earlier terminated as provided in the following paragraphs, this Agreement
shall become effective on March 1, 2020 and continue through December 31, 2022.
All other sections of the contract shall remain as written in the original and amended agreements.
M:\Administration\Economic Development\Brian\EDA\Staff Reports\2020\2.10.20\6A.att2 Amendment 2 2020- Mounds View.doc
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IN WITNESS WHEREOF, the parties hereunder set their hands as of the date written below:
ECONOMIC DEVELOPMENT
AUTHORITY of MOUNDS VIEW
By
Mayor/EDA President
Date / /0 1,=,2e -).P- 0
CENTER FOR ENERGY AND
ENVIRONMENT
Date
#2833
By lf4 '!')- j
Ci Administrator
TAX ID 41-1647799
M:\Administration\Economic Development\Brian\EDA\Staff Reports\2020\2.10.20\6A.att2 Amendment 2 2020- Mounds View.doc
2/10/2020