Laserfiche WebLink
0 <br />On October 28, 2004, the City Council and. Housing and Redevelopment Authority (HRA) <br />approved an amendment to the Development Agreement with Apache Redevelopment LLC for <br />an extension on the timeline for redevelopment of Phase II. The extension date approved for <br />execution ora contract addendum was July 1, 2005. <br />As you recall, the Phase II development is comprised of the senior condo/co-op, the high-end <br />town homes and additional stacked flats and were to be located on the properties located along <br />Stinson Boulevard and the existing 39°i Avenue. Due to the extensive time that the Developer <br />has needed to expend on expediting and finalizing all the components of Phase I of the <br />development and additional time required to obtain appraisals and negotiate acquisition of the <br />Phase 11 properties, they are requesting an extension of the above-mentioned timeline for <br />execution of the contract addendum (Phase 11 contract). <br />The Developer is committed to completing Phase 11 of the development and is requesting that <br />the City Council and HRA approve an extension for completion of the Phase 11 Development <br />Agreement to November 30, 2005. <br />Please contact me at 651-697-8506 with any questions. <br />cc: File <br />LEADERS IN PUBLIC FINANCE <br />3060 Centre Pointe Drive Phone: 651.-697-8506 Fax: 651-697-8555 <br />Roseville, MN 55113-1105 skvilvang@ehlers-inc.com <br />,, , <br />EHLERS& <br />ASSOCIAI"HS INC <br />To: <br />Mike Morrison —City Manager <br />From: <br />Stacie Kvilvang — Associate Financial Advisor <br />Date: <br />June 23, 2005 <br />Subject: <br />Extension of Time Line for Phase II Development <br />— Northwest Quadrant <br />Redevelopment <br />On October 28, 2004, the City Council and. Housing and Redevelopment Authority (HRA) <br />approved an amendment to the Development Agreement with Apache Redevelopment LLC for <br />an extension on the timeline for redevelopment of Phase II. The extension date approved for <br />execution ora contract addendum was July 1, 2005. <br />As you recall, the Phase II development is comprised of the senior condo/co-op, the high-end <br />town homes and additional stacked flats and were to be located on the properties located along <br />Stinson Boulevard and the existing 39°i Avenue. Due to the extensive time that the Developer <br />has needed to expend on expediting and finalizing all the components of Phase I of the <br />development and additional time required to obtain appraisals and negotiate acquisition of the <br />Phase 11 properties, they are requesting an extension of the above-mentioned timeline for <br />execution of the contract addendum (Phase 11 contract). <br />The Developer is committed to completing Phase 11 of the development and is requesting that <br />the City Council and HRA approve an extension for completion of the Phase 11 Development <br />Agreement to November 30, 2005. <br />Please contact me at 651-697-8506 with any questions. <br />cc: File <br />LEADERS IN PUBLIC FINANCE <br />3060 Centre Pointe Drive Phone: 651.-697-8506 Fax: 651-697-8555 <br />Roseville, MN 55113-1105 skvilvang@ehlers-inc.com <br />