07-1023r
HRA RESOLUTION NO.1 023
EXTENDING THE PRELIMINARY AGREEMENT
WITH UNITED BANKER'S BANK
WHEREAS, United Banker's Bank (UBB) and the Richfield Housing and
Redevelopment Authority (HRA) entered into a Preliminary Agreement (Agreement),
April 16, 2007; and
WHEREAS, the Agreement is set to expire January 15, 2008; and
WHEREAS, in paragraph 4 of the Agreement provision is made for extension of
the Agreement; and
WHEREAS, UBB and the HRA desire to extend the Agreement for an additional
36-days or until February 20, 2008; and
WHEREAS, the purpose of the extension is for the parties to evaluate the status
of activities, and report to the HRA at its February 2008 meeting regarding the
appropriateness. of any further extensions.
NOW THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority that the Agreement is hereby extended until February 20, 2008.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 19th day of November, 2007.
~il(
e Sandahl, Chair
ATTEST:
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Nancy Gibb Ity Clerk