HomeMy WebLinkAbout21-04 - ADMIN Resolution - Economic Development Authority - 2021/03/15EDA Resolution No. 21-04
Resolution approving amendment number one to 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 previously negotiated, approved, and executed a
Cooperative Construction Agreement (the “Agreement”), memorializing the terms, conditions, and
specifications for construction of the Ramp; and
Whereas, Met Council and the Authority have now proposed an Amendment Number One
to the Agreement (the “Amendment”) to clarify and revise certain agreed construction obligations
of each party, and Met Council has approved the Amendment in the form presented to the
Authority; and
Whereas, the Board of Commissioners finds that the approval and execution of the
Amendment 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:
A. The Amendment 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
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EDA Resolution No. 21-04 2
by the President and Executive Director, provided that execution of the Amendment 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 Amendment 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 March 15, 2021
Thomas K. Harmening, executive director Tim Brausen, president
Attest:
Melissa Kennedy, secretary
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