HomeMy WebLinkAboutRES 20-085 APPROVING SECOND AMENDMENT TO CONTRACT FOR PRIVATE REDEVELOPMENT BETWEEN THE HRA AND DORANRESOLUTION 20-085
RESOLUTION APPROVING SECOND AMENDMENT TO
CONTRACT FOR PRIVATE REDEVELOPMENT
BETWEEN THE HOUSING AND REDEVELOPMENT
AUTHORITY OF ST. ANTHONY, MINNESOTA, THE CITY
OF ST. ANTHONY VILLAGE, DORAN SLV, LLC, DORAN
ST. ANTHONY, LLC, AND DORAN SLV II, LLC
BE IT RESOLVED BY the City Council ("Council") of the City of St. Anthony Village,
Minnesota (the "City") as follows:
Section 1. Recitals.
1.01. Pursuant to its authority under Minnesota Statutes, Sections 469.001 to 469.047
and 469.174 to 469.1794, as amended, the Housing and Redevelopment Authority of St.
Anthony, Minnesota (the "Authority") has undertaken a program to promote the development
and redevelopment of land identified as the Northwest Quadrant which is underutilized within
the City, and in this connection created its Redevelopment Project Area No. 3 (hereinafter
referred to as the "Project") in an area (the "Project Area") located in the City pursuant to the
Act, and previously established Tax Increment Financing District No. 3-5, a redevelopment TIF
district (the "TIF District"), made up of property in the Project Area.
1.02. The Authority, the City, and Doran SLV, LLC executed a Contract for Private
Redevelopment, dated as of December 10, 2019, as amended by a First Amendment thereto dated as
of June 23, 2020 (as so amended, the "Contract"), providing, among other things, for the
construction of certain improvements (the "Minimum Improvements") on the property legally
described in the Contract and located within the TIF District (the "Redevelopment Property").
1.03. Due to changes in circumstances caused by the COVID-19 pandemic and other
factors, the parties have negotiated and propose to execute a Second Amendment to the Contract
(the "Second Amendment") to extend the deadlines for the commencement and completion of
construction of the Minimum Improvements, and to acknowledge certain partial assignments of
Doran SLV, LLC's rights and obligations under the Contract to Doran St. Anthony, LLC and to
Doran SLV II, LLC.
Section 2. Second Amendment Approved.
2.01. The Second Amendment as presented to the Council is hereby in all respects
approved, subject to modifications that do not alter the substance of the transaction and that are
approved by the Mayor and City Clerk, provided that execution of the Second Amendment by
such officials shall be conclusive evidence of approval.
2.02. The Mayor and City Clerk are hereby authorized to execute on behalf of the City
the Second Amendment and any documents referenced therein requiring execution by the City,
and to carry out, on behalf of the City, its obligations thereunder.
2.03. City staff and consultants are authorized to take any actions necessary to carry out
the intent of this resolution.
Approved this 24th day of November, 2020, by the City Council of the City of St.
Anthony Village, Minnesota.
ATTEST:
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