15-1212r HRA RESOLUTION NO. 1212
RESOLUTION APPROVING AGREEMENTS WITH THE HOUSING AND
REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RICHFIELD AND
INLAND DEVELOPMENT PARTNERS,LLC
WHEREAS, the City of Richfield, Minnesota(the "City") is the owner of certain property located within
the City (the "Properties") and intends to convey such Properties to the Housing and Redevelopment Authority in
and for the City of Richfield,Minnesota(the"Authority")by the end of November 2016;and
WHEREAS, Inland Development Partners, LLC, a Minnesota limited liability company(the "Developer")
has proposed purchasing the Properties from the Authority for the purpose of developing an approximately 300 unit
apartment building thereon(the"Project"); and
WHEREAS, prior to moving forward with the Project, the Developer has requested that its consultants
enter the Properties to conduct geotechnical testing, environmental assessments, and other related studies and to
conduct land surveys of the Properties to determine the suitability of the Properties for the development of the
Project; and
WHEREAS, the Authority has been presented with a Preliminary Development Agreement (the
"Preliminary Development Agreement") proposed to be entered into between the Authority, the City, and the
Developer, which sets forth the Developer's intentions and the conditions under which the Developer will
undertake the Project; and
WHEREAS, the Authority has also been presented with a Right of Entry Agreement(the "Right of Entry
Agreement")proposed to be entered into between the Authority,the City, and the Developer, pursuant to which the
City and the Authority will allow the Developer and its employees,consultants, agents, and contractors to enter the
Properties to conduct the proposed testing and studies; and
WHEREAS, the Authority has reviewed the Preliminary Development Agreement and the Right of Entry
Agreement and finds that the execution thereof by the Authority and performance of the Authority's obligations
thereunder are in the best interest of the City and its residents;and
NOW,THEREFORE,BE IT RESOLVED, by the Housing and Redevelopment Authority in and for the
City of Richfield, Minnesota as follows:
1. The Preliminary Development Agreement and the Right of Entry Agreement presented to the
Authority and on file with the Community Development Director are hereby in all respects approved, subject to
modifications that do not alter the substance of the transaction and that are approved by the Authority Chair and
Executive Director; provided that execution of such documents by such officials shall be conclusive evidence of
approval.
2. The Authority Chair and Executive Director are hereby authorized to execute the Preliminary
Development Agreement and the Right of Entry Agreement on behalf of the Authority and to carry out on behalf of the
Authority the Authority's obligations thereunder.
Adopted by the Housing and Redevelopment Authority in and for the City of Richfield, Minnesota this
19th day of October,2015.
Ih .
Mary Supple, N air
ATTEST:
Doris Rubenstein, Secretary