RES 21-027 AUTHORIZING THE EXECUTION OF A REDEVELOPMENT AGREEMENT

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CITY OF ST. ANTHONY HENNEPIN COUNTY STATE OF MINNESOTA Council member �, 1 V Q ` I introduced the following resolution and moved its adoption: RESOLUTION 21-027 RESOLUTION AUTHORIZING THE EXECUTION OF A REDEVELOPMENT AGREEMENT BE IT RESOLVED by the City Council (the "Council") of the City of St. Anthony, Minnesota (the "City"), as follows: Section 1. Recitals. 1.01. The City has heretofore established Redevelopment Project Area No. 3 (the "Project Area") and adopted the Development Program therefor and adopted a Modification to the Development Program (the "Development Program Modification") for the Project Area and established the Lowry Grove TIF District (the "District") therein and adopted a Tax Increment Financing Plan (the "TIF Plan") therefor (the Development Program Modification and the TIF Plan are referred to collectively herein as the "Program and Plan"); all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.001 to 469.047 and Sections 469.174 to 469.1794, all inclusive, as amended, (the "Act") all as reflected in the Program and Plan. Section 2. Approval of Redevelopment Aereement. 2.01. There has been prepared and presented to the Council for its consideration a certain Redevelopment Agreement (the "Agreement") among the City, the St. Anthony Housing & Redevelopment Authority, and SA Senior Living LLC (the "Developer") stating the Developer's responsibilities and the terms and conditions of the City's assistance with the financing of a Project on the Development Property (as such terms are defined in the Agreement) within the District. 2.02. The Council hereby approves the Agreement, together with any related documents necessary in connection therewith (collectively, the "Development Documents") substantially in the form presented to the Council and hereby authorizes Mayor and City Manager, in their discretion and at such time, if any, as they may deem appropriate, to finalize and execute the same on behalf of the City, and to carry out, on behalf of the City, the City's obligations thereunder. 2.03. The approval hereby given to the Development Documents includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the City and by the officers authorized herein to execute said documents prior to their execution; and said officers are hereby authorized to approve said changes on behalf of the City. The execution of any instrument by the appropriate officers of the City herein authorized shall be conclusive evidence of the