1995-56013p
HRA RESOLUTION N0.560
RESOLUTION OF THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT WITH MERIDIAN
PROPERTIES REAL ESTATE DEVELOPMENT L.L.C.
WHEREAS, the Housing and Redevelopment Authority in and for 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 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 commercial office facilities; and
WHEREAS, there has been presented before the Authority a form of Contract for
Private redevelopment ("Contract") among the Authority and Meridian Properties Real
Estate Development L.L.C. d/b/a TOLD Development Company, setting forth the
parties respective responsibility in developing commercial office 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 hereby 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 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.
Adopted by the Housing and Redevelopment ity in and for the City of
Richfield, Minnesota this 9th day of October, 1995.
Thomas E. Harms, Chair
ATTE~T:
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Vern Luettinger, Secretary .~•
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