HomeMy WebLinkAbout22-111 - ADMIN Resolution - City Council - 2022/08/01Resolution No. 22-111
Resolution approving a Development Agreement in connection with housing
improvements within the Bridgewalk Condominium 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 housing
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. 2652-22, adopted June 20, 2022 (the "Enabling Ordinance"), the
council established the Bridgewalk Condominium Homeowners’ Association Housing Improvement
Area (the “Housing Improvement Area”) in order to facilitate certain improvements to property
known as Bridgewalk Condominiums (the "Property”) and approved a Housing Improvement Fee
(the “Fee”) by Resolution 22-092, all in accordance with the HIA Policy and the Act.
1.04. The city and the Bridgewalk Condominium Homeowners’ Association (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. Subject to a determination by the City Clerk that there have not been filed with
the City Clerk objections to the Enabling Ordinance, prior to its effective date on August 4,
2022, or the fee resolution, prior to its effective date on August 4, 2022, from at least 45% of
unit owners in accordance with the Housing Improvement Act, the Agreement 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 document by such officials shall be conclusive evidence of approval.
DocuSign Envelope ID: BE917683-25E8-43C4-9511-BAC5C5AD7088
Resolution No. 22-111 2
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.
Reviewed for administration: Adopted by the City Council August 1, 2022
Kim Keller, city manager Jake Spano, mayor
Attest:
Melissa Kennedy, city clerk
DocuSign Envelope ID: BE917683-25E8-43C4-9511-BAC5C5AD7088