1998 HRA Resolution 0671
HRA RESOLUTION NO. 671
RESOLUTION APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT WITH
GRAMERCY PARK COOPERATIVE OF RICHFIELD
WHEREAS
, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (the “Authority”) has properly created and is administering its
Redevelopment District (the “District”) pursuant to Minnesota Statutes Chapter 469 in
an effort to encourage the development and redevelopment of certain designated areas
within the City of Richfield; and
WHEREAS
, among the development activities proposed to be assisted by the
Authority in the District are the development of housing facilities; and
WHEREAS
, there has been presented before the Authority a form of Contract for
Private Redevelopment (“Contract”) between the Authority and Gramercy Park
Cooperative at Lake Shore Drive, setting forth the parties respective responsibilities in
developing the facility; and
WHEREAS
, the Authority has reviewed the contract and finds that the execution
of the same and the Authority’s performance of its obligations thereunder are in the
best interest of the Authority and its residents.
NOW, THEREFORE, BE ITRESOLVED
, by the Richfield Housing and
Redevelopment Authority in and for the City of Richfield, Minnesota as follows:
1.That the proposed development within the District is not economically
feasible without the assistance to be provided.
2.That the contract, as presented to the Authority, is hereby in all respects
approved, subject to insubstantial modifications which may be
subsequently approved by the board’s chair and the Authority’s legal
counsel.
3.That the proper Authority officers are hereby authorized to execute the
contract on behalf of the Authority and to carry out, on behalf of the
Authority, the Authority’s obligations thereunder.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 20th day of July, 1998.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary