HomeMy WebLinkAboutResolution - 2001-94 - Project Management Agreement for Rolling hills Senior Housing Development - 06/05/2001 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY,MINNESOTA
RESOLUTION NO. 2001-94
A RESOLUTION APPROVING THE PROJECT MANAGEMENT AGREEMENT BY
AND BETWEEN THE CITY OF EDEN PRAIRIE AND SE ROLLING HILLS,LLC
RELATING TO THE ROLLING HILLS SENIOR HOUSING CAMPUS.
BE IT RESOLVED, by the City Council of the City of Eden Prairie, Minnesota (the
"City") as follows:
WHEREAS, SE Rolling Hills, LLC (the "Developer") is the owner of certain real
property located in the City described as Lot 1, Block 1, Rolling Hills Subdivision, Hennepin
County, Minnesota, on which the Developer proposes to construct a 142 unitsibeds facility for
the care of the elderly consisting of independent living units, assisted care units and
Alzheimer's/dementia care beds building(the"Project"); and
WHEREAS, the City has agreed to provide tax increment financing to reimburse the
Developer for certain qualified costs pursuant to Minnesota Statutes Section 469.174 to 469.179
as amended(the"Tax Increment Act"); and
WHEREAS, on March 20, 2001, the City approved the Tax Increment Financing Plan
and the establishment of Tax Increment Financing District No. 17 for the Project, commonly
referred to as the Rolling Hills Senior Housing Campus; and
WHEREAS, the City and the Developer desire to enter into a written agreement with
regard to the development and operation of the Project and have presented to this Council a
proposed Project Management Agreement by and between the City of Eden Prairie ("City") and
SE Rolling Hills, LLC ("Developer") hereinafter referred to as the Project Management
Agreement;
NOW THEREFORE, the City Council hereby approves the Project Management
Agreement and authorizes its execution.
ADOPTED by the City Council of the City of Eden Prairie s 5t'day of June, 1.
� ean L.Harris,Mayor
ATTEST:
— 1�w d. &
Ka een A.Porta, City Clerk
CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE
I, the undersigned,being the duly qualified and acting recording officer of the City of
Eden Prairie,Minnesota(the"City"),hereby certify that the attached resolution is a true copy of
Resolution No. 2001- , entitled: "RESOLUTION RELATING TO MULTIFAMILY
HOUSING AND HEALTHCARE FACILITY REVENUE BONDS (GNMA
COLLATERALIZED MORTGAGE LOAN—ROLLING HILLS PROJECT), SERIES 2001A
AND TAXABLE SERIES 2001B;AND MULTIFAMILY HOUSING AND HEALTHCARE
FACILITY REVENUE BONDS (ROLLING HILLS PROJECT), SUBORDINATE SERIES
2001C, SERIES 2001D AND SERIES 2001E;AUTHORIZING THE SALE AND ISSUANCE
OF THE BONDS AND ESTABLISHING THE SECURITY THEREFOR AND
AUTHORIZING THE EXECUTION OF DOCUMENTS"(the"Resolution"), on file in the
original records of the City in my legal custody;that the Resolution was duly adopted by the City
Council of the City at a meeting on June 5, 2001, and that the meeting was duly held by the City
Council and was attended throughout by a quorum,pursuant to call and notice of such meeting
given as required by law; and that the Resolution has not as of the date hereof been amended or
repealed.
I further certify that upon vote being taken on the Resolution at said meeting,the
following Councilmembers voted in favor thereof:
;voted
against the same: ;
abstained from voting thereon: ;
or were absent:
WITNESS my hand officially this_day of ,2001.
Kathleen Porta, City Clerk
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