HomeMy WebLinkAboutResolution 26-EDA-382 - 2026/02/09EDA RESOLUTION 26-EDA-382
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
A RESOLUTION APPROVING A SEVENTH 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 (A-2) and budget (A-3) has not changed except for adding
the LAHA Program, and a new budget of 160,000.
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.
Resolution 26-EDA-382
Page 2
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.
Adopted on the 9th day of February 2MA
Attest:
Nyle Zjj un rExecutive Director
(SEAL)
AMENDMENT 7 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 3rd 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 A7, 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 B7 attached
hereto:
Loan Origination Fee for all Residential Loans $775
LAHA Grant Orijzination Fee $600
Annual Administration Fee $5,000
Post Installation Inspection Fee $175
One Time LAHA Grant Set Up Fee $1,000
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 January 1, 2026 and continue through December 31, 2026.
All other sections of the contract shall remain as written in the original and amended agreements.
Amendment to the Loan Origination Agreement
EDA and CCC
Page Two
IN WITNESS WHEREOF, the parties hereunder set their hands as of the date written below:
ECONOM DEVELOPMENT CENTER FOR ENERGY AND
AUTHOR OF MOU DS VIEW ENVIRONMENT
By C, By
Sherp§ Guth , sident Stephanie Haddad, COO
Date - �) 01 0 a, jp Date 1 `1--4 2 (,
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By TAX ID 41-164-1647799
Nyle Z• round xecutive Director
Date ,R- t3 -anaJo