08-1029r
HRA RESOLUTION NO.1 029
AUTHORIZING THE TERMINATION OF THE OPTION AGREEMENT FOR
KENSINGTON PARK
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (HRA) entered into a Contract for Private Development as amended
and supplemented (Contract) with Lyndale Gateway, LLC for the construction of
Kensington Park; and
WHEREAS, Exhibit C to the Contract was an Option Agreement; and
WHEREAS, the construction of Kensington Park has been completed under the
terms of a Contract for Private Development as amended and supplemented.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority in and for the City of Richfield, the Option Agreement is hereby terminated.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 14th day of January 2008.
.CvflV<<LtfIt ~
e M. Sandahl, Chairperson