CC PACKET 06282005 - Laserfiche WebLink

Home Browse Search

M FOURTH AMENDMENT TO REDEVELOPMENT AGREEMENT THIS FOURTH AMENDMENT TO REDEVELOPMENT AGREEMENT ("Fourth Amendment') is made and entered into this _ day of _._.._ 2005, by and between the CITE' OF SAINT ANTHONY, MINNESOTA, a Minnesota statutory city (the "City„) the HOUSING AND REDEVELOPMENTAUTHORITY OF TIME CITY OF SAINT ANTHONY, MINNESOTA, a public body corporate and politic organized and existing under the laws of the State of Minnesota (the "Authority"), and. APACHE REDEVELOPMENT, LLC, a Minnesota limited liability company (the "Developer"). RECITALS WHEREAS, the Developer, the City and the Authority have previously entered into a Redevelopment Agreement dated as of December 1.9, 2003 (the "Redevelopment Agreement") and the capitalized terms used in this Second Amendment shall have the meaning given them in the Redevelopment Agreement; WHEREAS, pursuant to the Redevelopment Agreement, the Developer agreed to develop a Development located in the Project Area in two Phases; WHEREAS, under Section 8.1 of Clic Redevelopment Agreement, the Developer and the Authority agreed to resolve certain issues concerning Phase 11 by negotiating and entering into a Phase 11 Contract Addendum. by May 31, 2004; WHEREAS, through a First Amendment to Redevelopment Agreement, dated May 13, 2004, and a Second Amendment to Redevelopment Agreement, dated November 9, 2004, the Developer, the City and the Authority extended the original deadline, under Section 8. t, for completion of the Phase hI Contract Addendum of May 31, 2004, until .Tune 30, 2005, and the deadline for providing pro formas, more detailed site plans and other Project Element information to April 15, 2005; WHEREAS, the Developer has provided pro formas, more detailed site plans and other Project Element information; and WHEREAS, the Developer has requested that the current deadline for completion of the Phase II Contract Addendum be extended. until. September 30, 2005. NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties hereto, each of them does hereby covenant and agree with the other as follows: 1. Section 8.1 of the Redevelopment Agreement is hereby amended to read as follows: "Section 8.1 Phase TiTiming. General Contract Structure. The Developer has been approved by the Authority to undertake Phase 1I of the Development, however the parties acknowledge that certain issues remain to be resolved prior to commencement of Phase I1. The Developer has agreed to the Developer Fee Hold Back as provided in Section 11.5, as