HomeMy WebLinkAbout05-15 - ADMIN Resolution - Economic Development Authority - 2005/11/21ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
EDA RESOLUTION NO: 05-15
RESOLUTION APPROVING FIRST AMENDMENT OF
LEASE BETWEEN THE
ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
AND ST. LOUIS PARK STEP
WHEREAS, the St. Louis Park Economic Development Authority (the "Authority") and
St. Louis Park STEP ("STEP") have executed that certain lease dated December 6, 2004 (the
"Lease"); and
WHEREAS, the original term of the Lease is December 1, 2004 through June 30, 2005;
and
WHEREAS, the term of the Lease has been extended for the "additional monthly term"
as provided for in the Lease, therefore providing for a new expiration date of December 31,
2005;and
WHEREAS, the Authority has caused to be prepared the First Amendment to Lease
between the Authority and St. Louis Park STEP (the "First Amendment'); and
WHEREAS, STEP has submitted a letter to the Authority requesting an extension of the
term of the Lease because STEP has been unable to locate a new facility to purchase that meets
its needs and price range.
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 the approval of the First Amendment is in the public
interest because the EDA does not have immediate need of the building subject to
the Lease between the Authority and St. Louis Park STEP, and that permitting the
extension of the term of the Lease as provided in the First Amendment will provide
St. Louis Park STEP additional time within which to seek an appropriate facility for
providing its services.
2. The Authority approves the First Amendment in substantially the form on file in
City Hall. The President and Executive Director are authorized and directed to
execute the First Amendment, subject to modifications that do not the alter the
substance of the transaction and are approved by those officials, provide that
execution of the First Amendment by those officials will be conclusive evidence of
their approval.
EDA Resolution No. 05-15 -2-
Approved by the Board of Commissioners of the St. Louis Park Economic Development
ity this 21st day of November, 2005.
for Administration: Adopted by the Economic Development
Authority Nov ber 21„2005
Director President
Attest
/I��� Mown�Is��i
EDA Resolution No. 05-15 -3-
FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE, dated as of the
2005 by and between ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY,
hereinafter referred to as "Landlord", and ST. LOUIS PARK STEP, a Minnesota non profit
corporation, hereinafter referred to as "Tenant'.
RECITALS
WHEREAS, the Landlord and Tenant (the "Parties") have executed that certain lease
dated December 6, 2004 (the "Lease"); and
WHEREAS, Tenant has submitted a letter to the Landlord requesting an extension of the
term of the Lease because Tenant has been unable to locate a new facility to purchase that meets
its needs and price range; and
WHEREAS, the original term of the Lease is December 1, 2004 through June 30, 2005;
and
WHEREAS, the Landlord extended the term of the Lease for the "additional monthly
term" as provided for in the Lease, therefore providing it for a new expiration date of December
31, 2005;
WHEREAS, the Landlord requires the use of a portion of the Leased Premises subject to
the Lease for storage of equipment and materials and access thereto;
THEREFORE, IT IS AGREED by and between the Parties that the Lease is amended
as provided hereafter.
FIRST AMENDMENT TO LEASE
1. Paragraph La. Term, of the Lease between the Landlord and Tenant is amended
to provide that the Term is extended to and shall expire on March 31, 2007.
2. Landlord reserves approximately 3,630 square feet of space in the easterly portion
of the Leased Premises, commonly described as the "addition" for the purpose of
temporarily storing City equipment and materials ("Landlord Storage Area").
Landlord may at such reasonable times and after consultation with the Tenant,
enter into the Leased Premises for the purpose of utilizing the Landlord Storage
Area, or to construct or install walls, access doors, or related facilities to
physically separate the Landlord Storage Area from the portion of the Leased
Premises available for use by Tenant.
3. All other terms and conditions of the Lease shall remain in full force and effect
unless the Parties agree to amend such terms as provided for in the Lease.
EDA Resolution No. 05-15 -4-
IN WITNESS WHEREOF, the Landlord and Tenant caused this First Amendment to
Lease to be executed in the form and manner sufficient to bind them at law, as of the day and
year first above written.
Dated: 2005. TENANT:
ST. LOUIS PARK STEP
10
STATE OF MINNESOTA )
ss.
COUNTY OF HENNEPIN )
On this day of 2005, before me, a Notary Public within for
said County, personally appeared to me personally known, who
being by me duly sworn, did say that he is the of St. Louis Park STEP, a
Minnesota non profit corporation, and that he signed the foregoing document pursuant to
authority granted _ by said corporation.
Notary Public
Dated: 2005. LANDLORD:
ST. LOUIS PARK ECONOMIC
DEVELOPMENT AUTHORITY
Its: Executive Director
M
Its: President
STATE OF MINNESOTA )
) ss.
COUNTY OF HENNEPIN )
On this day of 2005, before me, a Notary Public within
for said County, personally appeared and
, to me personally known, who being each by
me duly sworn, each did say that they are respectively the President and Executive Director of
the ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY, a public body
corporate and politic under the laws of the State of Minnesota, on its behalf.
Notary Public