1994-5038RA RESOLUTION NO. 503
RESOLUTION OF THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
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APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT
WITH CSM CORPORATION
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 Mi n. Stat. Chapter 469 in an effort to
encourage the development and redevelopment of certain designated
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 retail-commercial facilities; and
WHEREAS, there has been presented before the Authority a
form of Contract for Private redevelopment ("Contract") among the
Authority and CSM Corporation, setting forth the parties
respective responsibility in developing retail-commercial
facilities; 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, BE IT RESOLVED by the Housing and
Redevelopment Authority in and for the City of Richfield,
Minnesota as follows:
1. That the Contract, as presented to the Authority, is
herby in all respects approved, subject to insubstantial
modifications which may be subsequently approved by the Board
Chair and the Authority's legal counsel.
2. That the proper Authority officers are herby authorized
to execute the Contract on behalf of the Authority and to carry
out, on behalf of the Authority, the Authority's obligations
thereunder.
Adopted by
for the City of
the Housing and Redeye ment Authority in and
Richfield, Minnesota s 11th day of April 1994.
Thomas E. Harms, Cha person
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