HomeMy WebLinkAbout19-060 - ADMIN Resolution - City Council - 2019/06/17Resolution No. 19-060
Resolution approving a First Amendment to the
Preliminary Redevelopment Agreement between the
St. Louis Park Economic Development Authority and,
the City of St. Louis Park and Beltline Development LLC
Be it resolved by the City Council (the “Council”) of the City of St. Louis Park, Minnesota
(the “City”) as follows:
Recitals.
Pursuant to its authority under Minnesota Statutes, Sections 469.090 to 469.1082, as
amended, the St. Louis Park Economic Development Authority (the “Authority”) administers its
Redevelopment Project No. 1 (the “Project”), for the purpose of facilitating the redevelopment
of certain substandard property within the Project.
The City and the Authority own certain property (the “Property”) within the Project,
which Property has been the subject of certain preliminary negotiations with Beltline
Development LLC (the “Developer”) for purposes of constructing a mixed-use (multi-family
residential and commercial) development on the Property and related parking, including a
parking ramp serving in part as a park and ride facility for Metro Transit’s proposed Southwest
Light Rail Transit Beltline station (the “Development”).
1.03. The City, the Authority, and the Developer executed a Preliminary Development
Agreement, dated as of February 5, 2018 (the “Agreement”), providing for the performance of
certain activities on the part of the parties in preparation for the negotiation of a definitive
Purchase and Redevelopment Contract in connection with the Property.
1.04. The parties have negotiated and propose to execute a First Amendment to the
Agreement (the “First Amendment”) to extend the deadline for the completion of these
preliminary activities for a period of up to twelve months.
Section 2. First Amendment Approved.
2.01. The First Amendment 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 First Amendment
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 First Amendment and any documents referenced therein requiring execution by the
City, and to carry out, on behalf of the City, its obligations thereunder.
2.03. City staff and consultants are authorized to take any actions necessary to carry out
the intent of this resolution.
DocuSign Envelope ID: CF183422-191A-4E4E-8473-89AF694093F0
Resolution No. 19-060 2
Reviewed for Administration: Adopted by the City Council June 17, 2019
Thomas K. Harmening, City Manager Jake Spano, Mayor
Attest:
Melissa Kennedy, City Clerk
DocuSign Envelope ID: CF183422-191A-4E4E-8473-89AF694093F0