HomeMy WebLinkAbout99-151 - ADMIN Resolution - City Council - 1999/12/20RESOLUTION NO. 99-151
RESOLUTION APPROVING A CONTRACT FOR PRIVATE REDEVELOPMENT
AMONG THE CITY, THE HOUSING AUTHORITY OF ST. LOUIS PARK AND
PPL LOUISIANA COURT LIMITED PARTNERSHIP
BE IT RESOLVED By the City Council ("Council") of the City of St Louis Park ("City")
as follows
Section 1 Recitals
1 01 The City has determined a need to provide certain financial assistance to PPL
Louisiana Court, Limited Partnership (the "Redeveloper") in order to acquire and rehabilitate
certain rental housing facilities in the City intended for low and moderate income persons (the
"Project")
1 02 There has been presented before the Council a Contract for Private Redevelopment
(the "Contract") among the City, the Housing Authority of St Louis Park ("Authority"), and the
Redeveloper, setting forth the terms and conditions of development of the Project and the City's
participation in that effort
1 03 The Council has reviewed the Contract and finds that the execution thereof and
performance of the City's obligations thereunder are in the best interest of the City and its residents
Section 2 City Approval, Further Proceedings
2 01 The Contract as presented to the Council is hereby in all respects approved, subject
to modifications that do not alter the substance of the transaction and that are approved by the
Mayor and City Manager, provided that execution of the documents by such officials shall be
conclusive evidence of approval
2 02 The Mayor and City Manager are hereby authorized to execute on behalf of the City
the Contract and any documents referenced therein requiring execution by the City, and to carry out,
on behalf of the City its obligations thereunder, all subject to final approval of the Contract by the
Authority
2 03 The Council further recommends that the Authority approve and execute the Contract
as soon as practicable after the date hereof
Attest
Reviewed for Administration
Ado.ted b, City Council December 20, 1999
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