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• CITY OF ST. ANTHONY <br /> RESOLUTION 05-069 <br /> AMENDMENT TO DEVELOPMENT AGREEMENT <br /> BETWEEN CITY OF ST. ANTHONY AND AMCON, LLC. <br /> WHEREAS, the City Council and Amcon St. Anthony, LLC ("Amcon'� entered <br /> into a Development Agreement dated November 3, 2003, for the <br /> area known as St. Anthony Marketplace (the "Development <br /> Agreement'; and <br /> WHEREAS, the Development Agreement obligated Amcon to construct a 6000 <br /> square foot restaurant on a particular out lot with a lease <br /> commencement date not later than September 1, 2004; and <br /> WHEREAS, in June 2005, Amcon requested an amendment to the Development <br /> Agreement changing and reducing the 6000 square foot restaurant <br /> on the out lot to a 4500 square foot retail center, and a payment of <br /> $150,000 in lieu of lost future property tax revenue, which request <br /> was denied by the City Council; and <br /> ® WHEREAS, on August 16, 2005, Amcon presented the planning commission a <br /> plan with a 4500 square foot restaurant on the out lot instead of <br /> the proposed 6000 square foot restaurant; and <br /> WHEREAS, construction of the restaurant is proposed to commence late <br /> summer/ early fall 2005; and <br /> WHEREAS, the developer will compensate the City of St. Anthony $50,000 <br /> upon execution of the amendment of the developers agreement; <br /> and <br /> WHEREAS, the building is to be completed and have a certificate of occupancy <br /> by June 1, 2006, or the city has recapture rights of the property. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of St. Anthony to approve the <br /> amendment to the Development Agreement with Amcon to allow <br /> for a 4500 square restaurant on the out lot <br /> • <br />