04-925r
99
HRA RESOLUTION NO. 925
RESOLUTION AMENDING BUSINESS SUBSIDY AGREEMENT WITH CITY BELLA,
ACCEPTING AND AGREEING TO ADMINISTER AND DISTRIBUTE
METROPOLITAN COUNCIL GRANT FUNDS, AND APPROVING AGREEMENT WITH
CITY BELLA.
WHEREAS, the Metropolitan Council did on December 17, 2003 award a Livable
Communities Demonstration Account grant to the City of Richfield in the amount of
$500,000, and
'WHEREAS, the purpose of the grant was to assist the City Bella mixed-use
development to achieve certain goals as described in the grant application, and
WHEREAS, the City Council has accepted the Grant and authorized the
execution of the Grant Agreement with Metropolitan Council, and
WHEREAS, the City Council has requested that the HRA distribute and
administer the Grant so as to accomplish the purposed for which the Grant was made,
and to fulfill the requirements of the Grant Agreement, and
WHEREAS, the distribution of such funds to City Bella constitutes a "Business
Subsidy" under Minnesota Statutes, sections 116J.993 through 116J.995 (the "Business
Subsidy Act"), and
WHEREAS, in compliance with the provisions of the Business Subsidy Act, the
HRA has held a public hearing on the proposed amendment, and
WHEREAS, in compliance with the Business Subsidy Act, the HRA has
requested and obtained the approval of the proposed amendment by the Richfield City
Council, and
WHEREAS, the HRA has reviewed the terms of a proposed agreement between
the HRA and City Bella entitled Agreement Regarding Grant Funds, which includes an
amendment to the business subsidy agreement between said parties.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota, as follows:
1. The HRA hereby accepts the Grant Funds, and agrees to distribute and
administer the same in accordance with the provisions of the Grant
Agreement between the City and the Metropolitan Council, and the terms
of the Agreement Regarding Grant Funds.
2. The amendment to the business subsidy agreement in the form contained
in the Agreement Regarding Grant Funds is approved.
3. The Agreement Regarding Grant Funds is hereby approved, and the Chair
and Executive Director are directed to execute the same on behalf of the
HRA.
Adopted by the Housing and Redevelopment Authority in and for the City
of Richfield, Minnesota this 21st day of June, 2004.
ATTEST:
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Kristal Stokes, Secretary