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CITY OF ST. ANTHONY VILLAGE <br /> <br /> RESOLUTION 19-093 <br /> <br /> RESOLUTION APPROVING CONTRACT FOR PRIVATE <br />REDEVELOPMENT WITH DORAN SLV, LLC. <br /> <br /> WHEREAS, the City of St. Anthony Village (the “City”) and the Housing and <br />Redevelopment Authority of St. Anthony, Minnesota (the “Authority”) have heretofore approved the <br />establishment of Tax Increment Financing District No. 3-5 (the "TIF District") within Redevelopment <br />Project No. 3 ("Project"), and have adopted a tax increment financing plan for the purpose of financing <br />certain improvements within the Project; and <br /> <br /> WHEREAS, to facilitate the redevelopment of certain property within the Project and TIF <br />District, the City, the Authority, and Doran SLV, LLC (the “Redeveloper”) have negotiated a <br />Contract for Private Redevelopment (the “Agreement”) which provides for the construction by the <br />Redeveloper of a rental housing facility and associated parking on the Redevelopment Property, <br />and the issuance by the Authority of its Tax Increment Revenue Note (Silver Lake Village Project) <br />to the Redeveloper. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY the City Council of the City of St. Anthony <br />Village as follows: <br /> <br /> 1. The Agreement is hereby in all respects approved, subject to approval of the <br />Agreement by the Authority and further subject to modifications that do not alter the substance of the <br />transaction and that are approved by the Mayor and City Clerk, provided that execution of the <br />Agreement by such officials shall be conclusive evidence of approval. <br /> <br /> 2. City staff and officials are authorized to take all actions necessary to perform the <br />City’s obligations under the Agreement as a whole, including without limitation execution of any <br />documents to which the City is a party referenced in or attached to the Agreement, all as described in <br />the Agreement. <br /> <br /> 3. This resolution shall be effective upon approval. <br /> <br />Adopted by the City of St. Anthony Village this 10th day of December, 2019. <br /> <br /> ______________________________ <br /> Jerome O. Faust, Mayor <br /> <br />ATTEST: ______________________________ <br /> Nicole Miller, City Clerk <br /> <br /> <br /> Reviewed for Administration: ______________________________ <br /> Mark Casey, City Manager <br />165