HomeMy WebLinkAbout25-03 - ADMIN Resolution - Economic Development Authority - 2025/01/06
EDA Resolution No. 25-03
Approving livable communities subgrant agreement
with Louisiana Crossing, LLC
Whereas, the City of St. Louis Park, Minnesota (the “city”) is a participant in the livable
communities act (LCA) housing initiatives program (“LCA program”) for 2024 as determined by
the Metropolitan Council (the “council”); and
Whereas, the purpose of the LCA program is to help communities achieve development
goals that create more housing choice, support living wage job creation, and connect jobs,
housing, and regional amenities to create a more equitable region; and
Whereas, the St. Louis Park Economic Development Authority (the “authority”) applied
for and received a livable communities act pre-development grant in the amount of $293,500
for the Louisiana Crossing project; and
Whereas, the authority wishes to enter into a subgrant agreement with Louisiana
Crossing, LLC, a Minnesota limited liability company (the “subgrantee”) to develop the property
located at 3745 Louisiana Avenue South according to the purpose and goals of the LCA program
and as further described in the attachments hereto;
Now therefore be it resolved by the board of commissioners of the St. Louis Park
Economic Development Authority as follows:
A. The subgrant 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 subgrant
agreement by such officials shall be conclusive evidence of approval.
B. The president and executive director are hereby authorized to execute the
subgrant 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 January 6, 2025:
Karen Barton, executive director Sue Budd, president
Attest:
Melissa Kennedy, city clerk
Docusign Envelope ID: C311CF6B-6E93-4651-B9AB-00BFE7A3DE66