04-9480r
RESOLUTION NO. 9480
RESOLUTION AUTHORIZING RICHFIELD HOUSING AND REDEVELOPMENT
AUTHORITY ("HRA")TO DISTRIBUTE AND ADMINISTER GRANT FUNDS,
APPROVING AGREEMENT BETWEEN HRA AND DEVELOPER, AND APPROVING
THE AMENDMENTS TO THE BUSINESS SUBSIDY AGREEMENT BETWEEN THE
HRA AND THE DEVELOPER.
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, this Council has accepted the Grant and authorized the execution of
the Grant Agreement with Metropolitan Council, and
WHEREAS, it is the desire of the Council that the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota (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 HRA has provided this Council with a proposed Agreement
Regarding Grant Funds between the HRA and City Bella, which includes an
amendment to the business subsidy agreement between said parties.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
Richfield, Minnesota, as follows:
1. The HRA is hereby authorized to receive the Grant Funds, and to
distribute and administer the same in accordance with the provisions of
the Grant Agreement with Metropolitan Council, and the terms of the
Agreement Regarding Grant Funds.
2. The amendment to the business subsidy agreement in substantially the
form contained in the Agreement Regarding Grant Funds is approved.
Adopted by the City Council of the City of Richfield, Minnesota this 8th day of
June, 2004.
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Martin J. KI , Mayor
ATTEST:
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Nancy Gibbs City Clerk
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