1999 HRA Resolution 0728
HRA RESOLUTION NO. 728
RESOLUTION APPROVING FIRST AMENDMENT TO CONTRACT FOR PRIVATE
REDEVELOPMENT URBAN VILLAGE
WHEREAS
, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (HRA) and Richfield State Agency, Inc. (“Redeveloper”) entered
into a Contract for Private Redevelopment dated as of November 1998 (“Contract”),
describing the parties’ respective responsibilities in redevelopment of the property
described in Exhibit A of the Contract; and
WHEREAS
, in the Contract, the HRA agreed to provide certain tax increment
financing assistance to the Redeveloper in order to make the redevelopment of the
Redevelopment Property financially feasible; and
WHEREAS
, in order to implement a program of financial assistance that will
make the redevelopment financially feasible, it is necessary to modify and amend the
Contract; and
WHEREAS
, the Redeveloper and the HRA staff and consultants have prepared
and presented to the Board a proposed amendment to the Contract and have fully
informed the Board of its contents; and
WHEREAS
, the Board has reviewed the proposed First Amendment, and is
satisfied as to its form and content.
NOW, THEREFORE, BE ITRESOLVED
by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota as follows:
1. The First Amendment is hereby approved.
2. The Chairperson and Acting Executive Director are hereby authorized to take
all actions and do all things necessary to carry out this approval.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 20th day of September, 1999.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary