HomeMy WebLinkAboutCC RES 03-066 A RESOLUTION ACKNOWLEDGING SBT, LLC' S ACQUIESENCE TO THE NORTHWEST QUADRANT REDEVELOPMENT PROJECT Meeting Sheet
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Box: 31
Folder: RES 2003
Document: CC RES 03-066 A RESOLUTION ACKNOWLEDGING SBT, LLC'
5 ACQUIESENCE TO THE NORTHWEST QUADRANT REDEVELOPMENT
PROJECT
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• CITY OF ST. ANTHONY VILLAGE
RESOLUTION 03 - 066
A RESOLUTION ACKNOWLEDGING SBT, LLC'S ACQUIESCENCE
TO TAX INCREMENT FINANCING ASSISTANCE, PLANNED UNIT
DEVELOPMENT AND PLATTING A PORTION OF THE
THE NORTHWEST QUADRANT REDEVELOPMENT PROJECT
WHEREAS, Pratt-Ordway("Developer") made an application on August 22, 2003, for
proposed retail and residential development on certain property within the
Northwest Quadrant Redevelopment Project ("Application"). The Application
includes, but is not limited to establishment of a Redevelopment and Tax
Increment Financing District, and requests for Plat, and Planned Unit
Development plan approval; and
WHEREAS, the City intends on holding its public hearings on the TIF Plan, Plat, Planned Unit
Development Site Plan and to review any other requests by the Developer
required for the Project to proceed; and
• WHEREAS, following requisite approvals, and pursuant to City code, the City intends on
entering into a Development Agreement outlining the TIF Plan and a Planned
Unit Agreement with the Developer; and
WHEREAS, SBT, LLC, owns property located at 3930 Silver Lake Road NE("Property"),
which is adjacent to the Project. The Property is currently improved by a Cub
Foods store; and
WHEREAS, the City understands that the Developer and SBT entered into a Purchase
Agreement, in which Seller agreed to sell the Property to the Developer, as a
result of the expectation and belief that the City will condemn the Property in
order to allow the Project to proceed; and
WHEREAS, the City understands that the Purchase Agreement obligates the Developer to
require that any Development Agreement or Planned Unit Development
Agreement contain a provision requiring that the Property be purchased in lieu of
condemnation; and
WHEREAS, the City understands that SBT has potential objections to the Project and would
aggressively seek to protect and preserve its rights in the Property; and
WHEREAS, the Developer has requested that the City adopt this Resolution and the City
• understands that; (i) in reliance on this Resolution, SBT has agreed to withhold
objections(whether by silence or otherwise) to the approvals required for the
• Project to proceed(excluding special assessments); (ii) if a Redevelopment and
Tax Increment Financing District is established and Planned Unit Development
Agreement is executed, and the Project does not proceed, that development of all
or a portion of property within the Project, without being required to purchase the
Property, pursuant to the Purchase Agreement, at which time SBT would be
allowed to present any and all objections; and(iii) SBT would not be deemed to
have waived or be estopped from asserting objections to any subsequent
applications for approvals of any or a portion of the Project as a consequence of
its agreement not to object to the Project; and
WHEREAS, the City acknowledges that SBT is relying upon this Resolution to withhold its
objections to the approvals required for the Project.
NOW, THEREFORE, BE IT RESOLVED THAT:
1. The City acknowledges that SBT, LLC has agreed to withhold any objections to the
approvals required for the Project(except any special assessments), in reliance upon this
Resolution.
2. If the Developer does not proceed with the Project, whether or not in form as set forth in
the application made on or about August 22, 2003, or otherwise, and the property is not
purchased in lieu of condemnation; SBT shall not be deemed to have waived or be
• estopped from asserting objections at said time with respect to new applications and
public hearings required pursuant to the City code for any future development of property
within the Project.
3. Pursuant to Section 1655.07 Subdivision 2, of the City Code (and/or any amendment
thereto), new public hearings will be required if all or a portion of the Project is to be
developed without the obligation (in the PUD Agreement, Final Development Plan or
otherwise), to purchase the property in lieu of condemnation pursuant to the terms of the
Purchase Agreement, as the removal of said obligation is considered a Significant Change
under Section 1655.07 Subdivision 2.
Adopted this day of , 2003.
ay r
ATTEST:
City Clerk
• Reviewed for Administration:
City M ager