06-9789r
RESOLUTION NO. 9789
RESOLUTION APPROVING MAINTENANCE AGREEMENT
WITH RYAN COMPANIES US, INC.
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (the "Authority") is undertaking a redevelopment project called Cedar
Point, hereinafter called the "Project"; and
WHEREAS, the Project is included within The Richfield Redevelopment Project
Area, duly established by Resolution No. 8030, adopted on June 14, 1993 (the "Project
Area"); and
WHEREAS, The Authority and Ryan Companies US, Inc ("Ryan") entered into that
certain Contract for Private Development dated July 27, 2005, as amended by the First
Amendment to Contract for Private Development dated June 26, 2006 (the "Development
Agreement"); and
WHEREAS, the City and Ryan entered into the instrument entitled Agreement on
June 13, 2006, and amended on June 27,2006, in which the City agreed to construct
and/or install certain landscape plantings, irrigation systems and special retaining wall
treatments within the Intersection Project. The Public Improvements Agreement also
stated that the City would establish a special service district that will provide for payment of
the maintenance, repair, replacement and restoration of the public improvements.
WHEREAS, the City and Ryan desire to agree to the maintenance of the public
improvements required in the Agreement; and
WHEREAS, Exhibits A and B will be presented to the City Council for their review
and approval at a later date; and
WHEREAS, the City has reviewed the terms of a proposed agreement (the
"Maintenance Agreement") with Ryan, and has received the recommendation of City staff
regarding the terms of the Maintenance Agreement.
NOW, THEREFORE, BE IT RESOLVED by the City of Richfield, Minnesota as
follows:
1. The Maintenance Agreement is approved in substantially the form presented.
2. The Mayor and City Manager are authorized to execute the Maintenance
Agreement on behalf of the Council and to take all actions and do all things
that are reasonable necessary to the fulfillment of the City's obligations under
the Maintenance Agreement.
Approved by the City Council of the City of Richfield this 27 P
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ATTEST:
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