HomeMy WebLinkAbout07-05 - ADMIN Resolution - Economic Development Authority - 2007/03/05EDA RESOLUTION NO. 07-05
RESOLUTION CONSENTING TO ALTERATIONS
TO THE PUBLIC PARKING RAMP MANAGED BY PNMC HOLDINGS
WHEREAS, the St. Louis Park Economic Development Authority (the "Authority") and
PNMC Holdings ("Park Nicollet") entered into that certain Contract for Private Redevelopment
dated as of March 30, 1993 (the "Contract"), that certain Tower Place Land Lease dated as of
October 19, 1993 (the "Land Lease"), and that certain Management Agreement dated as of June 20,
1994 (the "Management Agreement," hereinafter collectively with the Contract and the Land Lease
referred to as the "Ramp Documents"), setting forth the parties' respective responsibilities in the
construction and management of a public parking ramp (the "Ramp") located at 3800 Park Nicollet
Avenue in the City; and
WHEREAS, the Ramp Documents provide for improvements or alterations to the Ramp by
Park Nicollet at Park Nicollet's expense, so long as Park Nicollet submits plans and specifications
for the proposed alterations along with evidence of financing commitments to the Authority and the
Authority provides its prior written consent; and
WHEREAS, the Ramp Documents also give the Authority discretion to require a public
bidding process for alterations with a construction cost of over $25,000, which may be waived by
the Authority; and
WHEREAS, Park Nicollet has submitted plans and specifications and has provided
evidence of financing for certain proposed alterations to the Ramp (the "Alterations") at a cost
estimated to be greater than $25,000 but below the statutory public bidding threshold of $50,000,
has requested that the Authority provide its written consent to the Alterations, and has requested that
the Authority waive its discretionary authority to require a public bidding process for the
Alterations.
NOW THEREFORE BE IT RESOLVED by the Board of Commissioners of the St.
Louis Park Economic Development Authority as follows:
1. The Authority finds that Park Nicollet has satisfied the conditions precedent to
written consent to the Alterations by the Authority.
2. The Authority hereby consents to the construction of the Alterations by Park
Nicollet at Park Nicollet's sole expense. The Authority further consents to waive its discretionary
authority to require a public bidding process for the Alterations.
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pro d by the Board of Commissioners of the St. Louis Park Economic Development Authority
5th av of March 2007.
Administration: Adopted by the Economic Development Authority
arch 5, 2007
ector President
Attest
Secretary