HomeMy WebLinkAbout20-107 - ADMIN Resolution - City Council - 2020/08/17Resolution No. 20-107
Resolution approving a development agreement in connection with housing
improvements within the South Cedar Trails Homeowners Association Housing
Improvement Area
Be it resolved by the City Council of the City of St. Louis Park as follows:
Section 1. Recitals.
1.01. The City of St. Louis Park (the “city”) is authorized under Minnesota Statutes,
Sections 428A.11 to 428.21, as amended (the "Act"), to establish by ordinance a h ousing
improvement area within which housing improvements are made or constructed and the costs
of the improvements are paid in whole or in part from fees imposed within the area.
1.02. The City Council of the city (the “council”) adopted a Housing Improvement Area
policy on July 16, 2001 (the “HIA Policy”).
1.03. By Ordinance No. 2587-20, adopted June 15, 2020 (the "Enabling Ordinance"), the
council established the South Cedar Trails Homeowners Association Housing Improvement Area
(the “Housing Improvement Area”) in order to facilitate certain improvements to property known
as South Cedar Trails (the "Property”) and approved a Housing Improvement Fee (the “Fee”) by
Resolution 11-134, all in accordance with the HIA Policy and the Act.
1.04. The city and the South Cedar Trails Homeowners Association, Inc. (the
“Association”), have been engaged in informal discussion regarding the construction of certain
improvements to the Property and a proposed loan from the city to the Association of funds
legally available for such purpose (the “Loan”).
1.05. The council has been presented with a Development Agreement (the
“Agreement”) proposed to be entered into between the city and the Association as provided in
the Enabling Ordinance, reflecting the final terms of the Loan and final project costs related to
constructing the Housing Improvements (as described in the Agreement).
1.06. The council has reviewed the Agreement and finds that the execution thereof by
the city and performance of the city’s obligations thereunder are in the best interest of the city
and its residents.
Section 2. Development Agreement Approved.
2.01. The Agreement as presented to the council is hereby in all respects approved,
subject to modifications that do not alter th e substance of the transaction and that are
approved by the mayor and city manager, provided that execution of the document by such
officials shall be conclusive evidence of approval.
2.02. The mayor and city manager are hereby authorized to execute the Agreement on
behalf of the city and to carry out on behalf of the city, the city’s obligations thereunder.
DocuSign Envelope ID: 98CBD0E6-A8FC-456B-A1E9-8DEEA34EE8F3
Resolution No. 20-107 2
Reviewed for administration: Adopted by the City Council August 17, 2020
Thomas K. Harmening, city manager Jake Spano, mayor
Attest:
Melissa Kennedy, city clerk
DocuSign Envelope ID: 98CBD0E6-A8FC-456B-A1E9-8DEEA34EE8F3