HomeMy WebLinkAbout21-35 - ADMIN Resolution - Economic Development Authority - 2021/11/01EDA Resolution No. 21-35
Resolution approving an agreement between the St. Louis Park
Economic Development Authority, Daikin Applied Americas Inc., and
Super Radiator Coils Limited Partnership
Whereas, the St. Louis Park Economic Development Authority (the “Authority”) owns
certain real property located at 7015 Walker Street (the “Subject Property”) in the City of St. Louis
Park, Minnesota (the “City”); and
Whereas, Daikin Applied Americas Inc. and Super Radiator Coils Limited Partnership (the
“Grantees”) desire to install three monitoring wells (the “Monitoring Wells”) on the Subject
Property for the purpose of assisting the Grantees in characterization of the groundwater
hydraulics and groundwater chemistry in the area of an adjacent property located at 6714
Walker Street in the City; and
Whereas, the Board of Commissioners of the Authority (the “Board”) has reviewed a
certain agreement (the “Agreement”) between the Authority and the Grantees that details the
terms and conditions to which the Authority will provide the Grantees with access to the Subject
Property for the purpose of installing and maintaining the Monitoring Wells; and
Whereas, the Board finds that the approval and execution of the Agreement is 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 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 the
Agreement on behalf of the Authority.
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 1, 2021
Karen Barton, executive director Tim Brausen, president
Attest:
Melissa Kennedy, secretary
DocuSign Envelope ID: 4170C448-18C6-4F3B-A4CF-8524455BA6F4