01-841r
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HRA RESOLUTION NO. 841
RESOLUTION APPROVING
THIRD AMENDMENT
TO
CONTRACT FOR PRIVATE REDEVELOPMENT
WHEREAS, the HRA and Best Buy Company, Inc. did on or about March 28,
2000 enter into an agreement entitled, Contract for Private Redevelopment, (the
"Contract"), calling for the redevelopment of an area of land (the "Property") lying within
the City of Richfield; and
WHEREAS, said parties did on or about November 27, 2000 and February 20,
2001 enter into agreements amending the Contract; and
WHEREAS, events have required that additional modifications to the Contract
should be made; and
WHEREAS, the HRA has been presented with a proposed amendment to the
Contract entitled: Third Amendment to Contract for Private Redevelopment; and
WHEREAS, the HRA has reviewed and is familiar with the proposed amendment
to the Contract, and is satisfied that the terms thereof carry out the intentions of the
parties, and are necessary and appropriate for the Development.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota that:
1. The proposed Third Amendment is hereby in all respects approved.
2. The Executive Director and Board Chair are directed to take all steps and
do all things necessary to effectuate the provisions of the Third Amendment.
Adopted this 3rd day of December, 2001. ~~
Thomas E. Harms, Chairperson