HomeMy WebLinkAbout25-17 - ADMIN Resolution - Economic Development Authority - 2025/06/16
EDA Resolution No. 25-17
Approving a transit oriented communities program grant agreement with
Hennepin County
Be it resolved by the board of commissioners (the board) of the St. Louis Park Economic
Development Authority (the authority) as follows:
Section 1. Recitals; authorization.
(a) Hennepin County, Minnesota (the county) established the
Southwest Light Rail Transit Community Works project (SWCW) to provide an
organizational structure and process for coordinating light rail transit
engineering, land use and other related planning activities to support
development of the corridor. The county has created their Hennepin County
Housing and Redevelopment Authority Transit Oriented Communities Program
whereby applications were accepted for consideration of funding from the
county’s Bottineau and Southwest Community Works program (the program).
The county board of commissioners has awarded up to $300,000 from the
program to the authority (the grant) to support the acquisition of a mixed-used
development located at 4601 Highway 7, 4725 Highway 7, and 3130 Monterey
Drive and adjacent to the Metro Green Line Extension Beltline Boulevard Station,
consisting of 380 housing units and 19,500 square feet of commercial space (the
property), in the City of St. Louis Park, Minnesota (the city).
(b) The county has prepared a program grant agreement (the grant agreement), by
and between the county and the authority, pursuant to which the county shall give the
authority the grant to finance a portion of the acquisition cost of the property.
(c) The board has reviewed the grant agreement and finds that the execution
thereof and performance of the authority’s obligations thereunder are in the best interest of
the city and its residents.
Section 2. Approval of documents.
(a) The board approves the grant agreement in substantially the form presented to
the board, together with any related documents necessary in connection therewith, including
without limitation all documents, exhibits, certifications, or consents, referenced in or attached
to the grant agreement (the documents).
(b) The board hereby authorizes the president and executive director, in their
discretion and at such time, if any, as they may deem appropriate, to execute the documents
on behalf of the authority, and to carry out, on behalf of the authority, the authority’s
obligations thereunder when all conditions precedent thereto have been satisfied. The
documents shall be in substantially the form on file with the authority and the approval hereby
given to the documents includes approval of such additional details therein as may be
necessary and appropriate and such modifications thereof, deletions therefrom and additions
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thereto as may be necessary and appropriate and approved by legal counsel to the authority
and by the officers authorized herein to execute said documents prior to their execution; and
said officers are hereby authorized to approve said changes on behalf of the authority. The
execution of any instrument by the appropriate officers of the authority herein authorized shall
be conclusive evidence of the approval of such document in accordance with the terms hereof.
This resolution shall not constitute an offer and the documents shall not be effective until the
date of execution thereof as provided herein.
(c) In the event of absence or disability of the officers, any of the documents
authorized by this resolution to be executed may be executed without further act or
authorization of the board by any duly designated acting official, or by such other officer or
officers of the board as, in the opinion of the city attorney, may act in their behalf. Upon
execution and delivery of the documents, the officers and employees of the board are hereby
authorized and directed to take or cause to be taken such actions as may be necessary on
behalf of the board to implement the documents.
Section 3. Effective date. This resolution shall be effective upon approval.
Reviewed for administration: Adopted by the Economic Development
Authority June 16, 2025:
Karen Barton, executive director Sue Budd, president
Attest:
Melissa Kennedy, secretary
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