CC RES 03-060 A RESOLUTION APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT WITH AMCON CONSTRUCTION COMPANY LLC AND AUTHORIZING THE EXECUTION AND RECORDING THEREOF

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THE CITY OF ST. ANTHONY VILLAGE RESOLUTION 03 - 060 • RESOLUTION APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT WITH AMCON CONSTRUCTION COMPANY LLC AND AUTHORIZING THE EXECUTION AND RECORDING THEREOF WHEREAS, the City of St. Anthony Village is redeveloping the site commonly referred to as the Stonehouse site ("Development Property"); and WHEREAS, on May 13, 2003 the City Council ("Council") approved Resolution #2003- 037 authorizing the City to enter into a Pre-Redevelopment Contract with Amcon Construction Company LLC ("the Developer") for the redevelopment of the Development Property; and WHEREAS, the Developer agreed to construct a total of 26,000 sq/ft of retail space which would include a new Municipal Liquor Store, a restaurant and additional retail space; and WHEREAS, the Developer provided the Council with four(4) options on how to proceed with the redevelopment of the Development Property; and WHEREAS, on June 24, 2003, the Council approved Resolution #2003-047, approving redevelopment option #4 for the Development Property which consists of the City retaining ownership of a portion of the land and owning its own Municipal Liquor Store and selling the remaining land to the Developer for development of a restaurant pad and additional retail space; • and WHEREAS, The Developer and the City have participated in negotiations concerning the proposed development of certain property by the Developer on the Development Property and the means by which the Development will commence; and WHEREAS, the Council believes that the redevelopment of the Development Property, and fulfillment generally of the terms of this Agreement, are in the vital and best interests of the City and in accord with the public purposes and provisions of applicable federal, state and local laws. NOW, THEREFORE, BE IT RESOLVED, by the City Council of St. Anthony Village as follows: 1. That the Purchase and Development Agreement by and between the City and Amcon Construction Company LLC is hereby approved by the Council, and the Mayor and City Manager are authorized and directed to execute it contingent upon City Attorney approval and deliver and record the same. 2. That the City Manager is hereby authorized to approve such modifications to the Purchase and Development Agreement as shall not, in his opinion, substantially alter or impair the rights and obligations of the City as set forth in the agreement presented to the Council for approval. • 3. That the Purchase and Development Agreement shall not be deemed effective and enforceable against the City until executed by the Mayor and City Manager in accordance herewith.