HomeMy WebLinkAbout24-EDA-371EDA RESOLUTION 24-EDA-371
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
A RESOLUTION APPROVING A FIFTH AMENDMENT TO THE LOAN
ORIGINATION AGREEMENT WITH 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 extend
the term of the Agreement.
1.04. The Authority acknowledges that the terms of the amendment to the loan
origination agreement (the "Amendment"), a copy of which is attached as Exhibit A to this
resolution, which includes program guidelines and budget has not changed except for the
Termination Date.
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 a part 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.
EDA Resolution No. 24-EDA-371
Page 2
Adopted on the 12th day of February, 2024.
Gary Meehlhause, President
Attest:
NyIC Zi und, Executive Director
(SEAL,)
AMENDMENT 5 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 1 st day of January, 2018 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 3`d Avenue North, Suite 560, Minneapolis, Minnesota
55401 ("CEE") is hereby amended.
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 January 1, 2024 and continue through December 31, 2024.
All other sections of the contract shall remain as written in the original and amended agreements.
IN WITNESS WHEREOF, the parties hereunder set their hands as of the date written below:
ECONOMIC DEVELOPMENT
AUTHORITY of MOUNDS VIEW
-
Meehlhause, President
Date 02/12/2024
B �.;�
Y
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Ny Zik und, Mx cutive Director
Date 02/12/2024
CENTER FOR ENERGY AND
ENVIRONMENT
By :�j� 4--zk�
Stephanie Haddad, COO
Date ?—I 15 z
#4514
TAX ID 41-1647799