HomeMy WebLinkAbout20-25 - ADMIN Resolution - Economic Development Authority - 2020/11/02EDA Resolution No. 20-25
Resolution approving Cooperative Construction Agreement between
the St. Louis Park Economic Development Authority and
the Metropolitan Council
Whereas, the St. Louis Park Economic Development Authority (the “Authority”) is currently
administering its Redevelopment Project No. 1 ("Project") pursuant to Minnesota Statutes,
Sections 469.001 to 469.047 ("HRA Act"), and is pursuing the establishment of a tax increment
financing district within the Project to finance a portion of the costs of expected mixed-use
development in connection with the planned Southwest Light Rail Transit (“SWLRT”) Beltline
Station; and
Whereas, the Authority, the City of St. Louis Park (the “City”), and Beltline Development
LLC (“Redeveloper”) have entered into a Preliminary Development Agreement dated as of
February 5, 2018, as amended, memorializing the parties’ preliminary agreements as to the
conveyance and redevelopment of certain Authority-owned property adjacent to the SWLRT
Beltline Station (the “Development”), as well as the redevelopment of certain other property
owned by the Redeveloper (the “Property”), in relevant part for the construction of a structured
parking facility (the “Ramp”) in which 268 parking stalls will be reserved for SWLRT park and ride
users, and 94 parking stalls will be for the use of other users of the Development; and
Whereas, the City previously submitted a Congestion Mitigation and Air Quality (“CMAQ”)
grant application to the Federal Transit Administration (“FTA”) to finance a portion of the costs of
construction of the Ramp, and FTA awarded a CMAQ grant in the amount of $6,453,054 (the
“Grant”) to be administered by the Metropolitan Council (“Met Council”) for the benefit of the
Authority as subrecipient of the Grant, and on October 21, 2019, the Authority adopted a
resolution approving a Subrecipient Agreement providing for disbursement of the Grant funds;
and
Whereas, Met Council and the Authority have negotiated a Cooperative Construction
Agreement (the “Agreement”) in the form presented to the Board of Commissioners of the
Authority, memorializing the terms, conditions, and specifications for construction of the Ramp,
which has been approved by Met Council by resolution on July 8, 2020; and
Whereas, the Board of Commissioners finds that the approval and execution of the
Agreement and performance of the Authority's obligations thereunder are in the best interest of
the City and its residents.
Now, therefore, be it resolved by the Board of Commissioners of the St. Louis Park
Economic Development Authority as follows:
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EDA Resolution No. 20-25 2
A. The Agreement as presented to the Board is hereby in all respects approved,
subject to modifications that do not alter the substance of the transaction and that are approved
by the President and Executive Director, provided that execution of the Agreement by such
officials shall be conclusive evidence of approval.
B. The President and Executive Director are hereby authorized to execute on behalf of
the Authority the Agreement and any documents referenced therein requiring execution by the
Authority, and to carry out on behalf of the Authority its obligations thereunder.
C. Authority staff and consultants are authorized to take any actions necessary to
carry out the intent of this resolution.
Reviewed for Administration: Adopted by the Economic Development
Authority November 2, 2020
Tom Harmening, executive director Rachel Harris, president
Attest:
Melissa Kennedy, secretary
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