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• CITY OF ST. ANTHONY <br /> RESOLUTION NO. 07-067 <br /> RESOLUTION RELATING TO A SIXTH AMENDMENT TO A REDEVELOPMENT <br /> AGREEMENT BY AND AMONG THE CITY OF SAINT ANTHONY, MINNESOTA, <br /> THE HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT <br /> ANTHONY, MINNESOTA, AND APACHE REDEVELOPMENT, LLC (THE <br /> "DEVELOPER"),DATED DECEMBER 19,2003. <br /> WHEREAS,the City of St. Anthony (the"City") and the St. Anthony Housing and <br /> Redevelopment Authority (the "Authority") entered into the referenced <br /> agreement regarding an area located in the northwest portion of the City(the <br /> "Agreement"); and <br /> WHEREAS, pursuant to the Agreement, the Developer agreed to develop a development in <br /> multiple Phases or Elements, including the Phase IB For Sale Housing <br /> Development or Element consisting of an initial 128 units of for sale housing, <br /> subject to final plans to be approved by the City; and <br /> WHEREAS,under Section 10.1 of the Redevelopment Agreement(as amended by the Fifth <br /> • Amendment to Redevelopment Agreement dated November 11, 2006 (the"Fifth <br /> Amendment")), the Developer agreed to commence construction of the Phase <br /> IB-1 For Sale Housing Development by September 1, 2007, and the Developer <br /> has failed to do so;and <br /> WHEREAS, under Section 10.1 of the Redevelopment Agreement(as amended by the Fifth <br /> Amendment),the Developer agreed to commence construction of the Phase I1B-2 For <br /> Sale Housing Development by September 1,2008;and <br /> WHEREAS,due to current market conditions and financing requirements,the Developer has <br /> requested that Section 10.1 of the Redevelopment Agreement be amended to require <br /> construction to commence on Phase IB-1 by September 1,2008,and on Phase M-2 by <br /> September 1,2009;and <br /> WHEREAS,a Sixth Amendment to the Agreement has been prepared to address these issues. <br /> NOW,THEREFORE, BE IT RESOLVED, by the City of St. Anthony, Minnesota as <br /> follows: <br /> That the Mayor and City Manager are authorized to enter into a Sixth Amendment to <br /> Redevelopment Agreement by and among the City of Saint Anthony, Minnesota,the <br /> • Housing and Redevelopment Authority of the City of Saint Anthony, Minnesota, and <br /> Apache Redevelopment, LLC. <br />