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CITY OF ST. ANTHONY VILLAGE <br />RESOLUTION 19-093 <br />RESOLUTION APPROVING CONTRACT FOR PRIVATE <br />REDEVELOPMENT WITH DORAN SLV, LLC. <br />WHEREAS, the City of St. Anthony Village (the "City") and the Housing and <br />Redevelopment Authority of St. Anthony, Minnesota (the "Authority") have heretofore approved the <br />establishment of Tax Increment Financing District No. 3-5 (the "TIF District") within Redevelopment <br />Project No. 3 ("Project"), and have adopted a tax increment financing plan for the purpose of financing <br />certain improvements within the Project; and <br />WHEREAS, to facilitate the redevelopment of certain property within the Project and TIF <br />District, the City, the Authority, and Doran SLV, LLC (the "Redeveloper") have negotiated a <br />Contract for Private Redevelopment (the "Agreement") which provides for the construction by the <br />Redeveloper of a rental housing facility and associated parking on the Redevelopment Property, <br />and the issuance by the Authority of its Tax Increment Revenue Note (Silver Lake Village Project) <br />to the Redeveloper. <br />NOW, THEREFORE, BE IT RESOLVED BY the City Council of the City of St. Anthony <br />Village as follows: <br />1. The Agreement is hereby in all respects approved, subject to approval of the <br />Agreement by the Authority and further subject to modifications that do not alter the substance of the <br />transaction and that are approved by the Mayor and City Clerk, provided that execution of the <br />Agreement by such officials shall be conclusive evidence of approval. <br />2. City staff and officials are authorized to take all actions necessary to perform the <br />City's obligations under the Agreement as a whole, including without limitation execution of any <br />documents to which the City is a party referenced in or attached to the Agreement, all as described in <br />the Agreement. <br />3. This resolution shall be effective upon approval. <br />Adopted by the City of St. Anthony Village this 10 • ay of ecember, 2019. <br />J - rome O. Faust, Mayor <br />ATTEST: <br />-e 9/ze--1 <br />Nicole Miller, City Clerk <br />Reviewed for Administration: 444a/A /*---- <br />Ma a <br />Mark Casey, City ger <br />625521 v 1 SA730-2 <br />