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HRA RESOLUTION 20-08 <br /> <br />RESOLUTION APPROVING SECOND AMENDMENT TO CONTRACT <br />FOR PRIVATE REDEVELOPMENT BETWEEN THE HOUSING AND <br />REDEVELOPMENT AUTHORITY OF ST. ANTHONY, MINNESOTA, <br />THE CITY OF ST. ANTHONY VILLAGE, DORAN SLV, LLC, DORAN <br />ST. ANTHONY, LLC, AND DORAN SLV II, LLC <br /> <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. <br /> 1.01. Pursuant to its authority under Minnesota Statutes, Sections 469.001 to 469.047 <br />and 469.174 to 469.1794, as amended, the Authority has undertaken a program to promote the <br />development and redevelopment of land identified as the Northwest Quadrant which is <br />underutilized within the City, and in this connection created its Redevelopment Project Area No. <br />3 (hereinafter referred to as the “Project”) in an area (the “Project Area”) located in the City <br />pursuant to the Act, and previously established Tax Increment Financing District No. 3-5, a <br />redevelopment TIF district (the “TIF District”), made up of property in the Project Area. <br /> <br /> 1.02. The Authority, the City of St. Anthony Village, and Doran SLV, LLC executed a <br />Contract for Private Redevelopment, dated as of December 10, 2019 as amended by a First <br />Amendment thereto dated as of June 23, 2020 (as so amended, the “Contract”), providing, among <br />other things, for the construction of certain improvements (the “Minimum Improvements”) on the <br />property legally described in the Contract and located within the TIF District (the “Redevelopment <br />Property”). <br /> <br /> 1.03. Due to changes in circumstances caused by the COVID-19 pandemic and other <br />factors, the parties have negotiated and propose to execute a Second Amendment to the Contract <br />(the “First Amendment”) to extend the deadlines for the commencement and completion of <br />construction of the Minimum Improvements, and to acknowledge certain partial assignments of <br />Doran SLV, LLC’s rights and obligations under the Contract to Doran St. Anthony, LLC and to <br />Doran SLV II, LLC. <br /> <br /> Section 2. Second Amendment Approved. <br /> <br /> 2.01. The Second Amendment as presented to the Board is hereby in all respects <br />approved, subject to modifications that do not alter the substance of the transaction and that are <br />approved by the Chair and Executive Director, provided that execution of the Second <br />Amendment by such officials shall be conclusive evidence of approval. <br /> <br /> 2.02. The Chair and Executive Director are hereby authorized to execute on behalf of <br />the Authority the Second Amendment and any documents referenced therein requiring execution <br />by the Authority, and to carry out, on behalf of the Authority, its obligations thereunder.