1993-48757
HRA RESOLUTION NO. 487
RESOLUTION OF THE HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF RICHFIELD,
MINNESOTA APPROVING CONTRACT FOR PRIVATE
REDEVELOPMENT WITH RICHFIELD STATE AGENCY, INC.
WHEREAS, the Housing and Redevelopment Authority in and for
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the City of Richfield, Minnesota (the Authority ) has properly
created and is administering its Redevelopment District (the
"District") pursuant to Minn. Stat. Chapter 469 in an effort to
encourage the development and redevelopment of certain
designation areas within the City of Richfield; and
WHEREAS, among the development activities proposed to be
assisted by the Authority in the District involve the development
of a medical office facility; and
WHEREAS, there has been presented before the Authority a
form of Contract for Private Redevelopment ("Contract") among the
Authority and Richfield State Agency, Inc., setting forth the
parties respective responsibilities in developing the medical
office facility; and
WHEREAS, the Authority has reviewed the Contract and finds
that the execution of the same and the Authority's performance of
its obligations thereunder are in the best interest of the
Authority and its residents.
NOW, THEREFORE, HE iT RESOLVED by the Board of Commissioners
of the Authority as follows:
1. That the Contract, as presented to the Authority, is
hereby in all respects approved, subject to non-material
modifications which may be subsequently approved by the Board
Chair and the Authority's legal counsel.
2. That the proper Authority officers are hereby authorized
to execute the Contract on behalf of the Authority and to carry
out, on behalf of the Authority, the Authority's obligations
thereunder.
3. The HRA will execute said contract subject to HRA
approval of a parking easement agreement for the proposed
development which will address the parking concerns of the HRA
Commissioners.
Adopted by the Hoard of Commissione of the Housing and
Redevelopment Authority in and for the ty of Rich ield,
Minnesota this 15th day of November, 9
omas E. arms, Chairperson
ATT~ST: ~~~
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Vern uettin Secretary