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RES 19-093 APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT WITH DORAN SLV, LLC.
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RES 19-093 APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT WITH DORAN SLV, LLC.
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SCHEDULE B <br />AUTHORIZING RESOLUTION <br />HOUSING AND REDEVELOPMENT AUTHORITY OF ST. ANTHONY, MINNESOTA <br />RESOLUTION NO. <br />RESOLUTION APPROVING CONTRACT FOR PRIVATE <br />REDEVELOPMENT AND AWARDING THE SALE OF, AND <br />PROVIDING THE FORM, TERMS, COVENANTS AND <br />DIRECTIONS FOR THE ISSUANCE OF ITS TAX <br />INCREMENT REVENUE NOTES TO DORAN SLV, LLC. <br />BE IT RESOLVED BY the Board of Commissioners ("Board") of the Housing and <br />Redevelopment Authority of St. Anthony, Minnesota (the "Authority") as follows: <br />Section 1. Recitals. Approval and Authorization; Award of Sale. <br />1.01. Recitals. (a) The Authority and the City of St. Anthony Village (the "City") have <br />heretofore approved the establishment of Tax Increment Financing District No. 3-5 (the "TIF <br />District") within Redevelopment Project No. 3 ("Project"), and have adopted a tax increment <br />financing plan for the purpose of financing certain improvements within the Project. <br />(b) To facilitate the redevelopment of certain property within the Project and TIF <br />District, the Authority, the City, and Doran SLV, LLC (the "Owner") have negotiated a Contract <br />for Private Redevelopment (the "Agreement") which provides for the construction by the Owner <br />of a two-phase rental housing facility and associated parking on the Redevelopment Property, <br />and the issuance by the Authority of one or two Tax Increment Revenue Notes (Silver Lake <br />Village Project) (the "Notes") to the Owner. <br />1.02. Approval of Agreement. (a) The Agreement is hereby in all respects approved, <br />subject to modifications that do not alter the substance of the transaction and that are approved by <br />the Chair and Executive Director, provided that execution of the Agreement by such officials shall <br />be conclusive evidence of approval. <br />(b) Authority staff and officials are authorized to take all actions necessary to perform <br />the Authority's obligations under the Agreement as a whole, including without limitation execution <br />of any documents to which the Authority is a party referenced in or attached to the Agreement, all <br />as described in the Agreement. <br />1.03. Issuance, Sale, and Terms of the Notes. (a) The Authority hereby authorizes the <br />Chair and Executive Director to issue the Notes in accordance with the Agreement. All <br />B-1 <br />623340v3SA730-2 <br />
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