HomeMy WebLinkAbout89-1 - ADMIN Resolution - Economic Development Authority - 1989/03/06RESOLUTION NO, 89-1 EDA
EDA - March 6, 1989
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RESOLUTION AUTHORIZING THE CANCELLATION
OF THAT AMENDED AND RESTATED AGREEMENT FOR PURCHASE
AND SALE OF REAL ESTATE
DATED SEPTEMBER 2, 1987
BY AND BETWEEN
THE HOUSING AND REDEVELOPMENT AUTHORITY OF
ST. LOUIS PARK, MINNESOTA, SELLER,
AND
OAKMONT DEVELOPMENT LIMITED PARTNERSHIP, PURCHASER
WHEREAS, the Housing and Redevelopment Authority of the City of
St. Louis Park, Minnesota assigned its interest in that Amended and
Restate Agreement for Purchase and Sale of Real Estate dated September
2, 1987 by and between The Housing and Redevelopment Authority of St.
Louis Park, Minnesota, Seller, and Oakmont Development Limited
Partnership, Purchaser ("Agreement"); and
WHEREAS, Oakmont Development Limited Partnership has failed to
close and commence construction pursuant to the terms of the Agreement.
NOW, THEREFORE, be it resolved by the Economic Development
Authority of St. Louis Park, Minnesota, that its attorney is hereby
authorized to commence cancellation of the Agreement.
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Adopted by the Economic Development Authority of St. Louis Park,
Minnesota on March 6 , 1989.
Acting President
Attest:
William C. Dixon, Executive Director
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