HomeMy WebLinkAboutCC RES 05-069 RESOLUTION AMENDING TO DEVELOPMENT AGREEMENT BETWEEN THE CITY OF ST. ANTHONY AND AMCON, LLC Meeting Sheet
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104347
Box: 31
Folder: RES 2005
Document: CC RES 05-069 RESOLUTION AMENDING TO
DEVELOPMENT AGREEMENT BETWEEN THE CIN OF ST. ANTHONY
AND AMCON, LLC
• CITY OF ST. ANTHONY
RESOLUTION 05-069
AMENDMENT TO DEVELOPMENT AGREEMENT
BETWEEN CITY OF ST. ANTHONY AND AMCON, LLC.
WHEREAS, the City Council and Amcon St. Anthony, LLC ("Amcon'� entered
into a Development Agreement dated November 3, 2003, for the
area known as St. Anthony Marketplace (the "Development
Agreement'; and
WHEREAS, the Development Agreement obligated Amcon to construct a 6000
square foot restaurant on a particular out lot with a lease
commencement date not later than September 1, 2004; and
WHEREAS, in June 2005, Amcon requested an amendment to the Development
Agreement changing and reducing the 6000 square foot restaurant
on the out lot to a 4500 square foot retail center, and a payment of
$150,000 in lieu of lost future property tax revenue, which request
was denied by the City Council; and
® WHEREAS, on August 16, 2005, Amcon presented the planning commission a
plan with a 4500 square foot restaurant on the out lot instead of
the proposed 6000 square foot restaurant; and
WHEREAS, construction of the restaurant is proposed to commence late
summer/ early fall 2005; and
WHEREAS, the developer will compensate the City of St. Anthony $50,000
upon execution of the amendment of the developers agreement;
and
WHEREAS, the building is to be completed and have a certificate of occupancy
by June 1, 2006, or the city has recapture rights of the property.
NOW, THEREFORE, BE IT RESOLVED by the City Council of St. Anthony to approve the
amendment to the Development Agreement with Amcon to allow
for a 4500 square restaurant on the out lot
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Adopted this 23"d day of Aucjust, 2005.
Mayor
ATTEST:
City Clerk
Review for Administration:
Ci y Manager
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