02-873r
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HRA RESOLUTION NO. 873
RESOLUTION APPROVING THE CONCEPT PLAN
FOR GRAMERCY CORPORATION
FOR CITY BELLA
BE IT RESOLVED By the Housing and Redevelopment Authority in and for the
City of Richfield, Minnesota, (the "HRA") as follows:
Section 1. Recitals.
1.01. On or about April 15, 2002, the HRA and Gramercy Corporation (the
"Redeveloper") entered into that certain document entitled, Amended and
Restated Contract for Private Redevelopment (the "Contract").
1.02. The Contract provided that a Concept Plan be prepared by Redeveloper
and approved by the HRA as a precondition to certain of the HRA's
obligations under the Contract
1.03. The elements to be contained in a Concept Plan are described in Section
2.5.1 of the Contract.
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1.04. In addition to the requirements of Section 2.5.1, Section 2.5.4 of the
Contract requires that certain preconditions be met by the Redeveloper
prior to Concept Plan approval.
1.05. The Redeveloper has presented the HRA with a proposed Concept Plan
for the City Bella Project, and has asked that the Concept Plan be
approved.
1.06. The HRA has reviewed the Concept Plan, finds the same to be in
compliance with the provisions of Section 2.5.1, and further finds that the
preconditions contained in Section 2.5.4 have been met based on certain
written representations of the Redeveloper.
Section 2. HRA Approval: Further Proceedinqs.
2.01. The HRA approves the Concept Plan.
2.02. The Executive Director and Chair are authorized to take all steps and do all
things necessary to carry into effect the provisions of this resolution.
Approved by the Board of Commissioners of the . 0 ing and Redevelopment
Authority in and for the City of Richfield, Minnesota thi 1 ay oft~_
Thomas E. Harms, Chair
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