HomeMy WebLinkAboutResolution - 2003-27 - Capital Pointe - Granting Extension to the Development Agreement - 02/04/2003 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY,NIINNESOTA
RESOLUTION NO. 2003-27
A RESOLUTION GRANTING EXTENSION TO THE DEVELOPER'S AGREEMENT
FOR GE CAPITAL/GE FLEET SERVICES CAPITAL POINTE
BY CAPITAL POINTE
WHEREAS, Capital Pointe, LLC, has received City Council approval for construction of
a 360,000 square foot office fully described in a Developer's Agreement dated November 4,
1997; and
WHEREAS, a condition of said Developer's Agreement states that if Developer does not
proceed with the project within twenty-four(24)months of the date of Agreement, Developer
would not oppose City Council action to revoke the approval action,thus restoring the status of
the property before the project was approved; and
WHEREAS,the twenty-four(24)month period ended on November 4, 2001; and
WHEREAS,Developer has not proceeded with Agreement at this time, and has
requested approval of an extension to the Developer's Agreement until November 4, 2004; and
WHEREAS,the City Council has reviewed said extension request at its February 4,
2003 meeting.
NOW,THEREFORE,BE IT HEREBY RESOLVED BY THE CITY COUNCIL
OF THE CITY OF EDEN PRAIRIE,that the extension of the Developer's Agreement be
granted for an additional twenty-four(24)month period, ending November 4, 2004.
ADOPTED by the Eden Prairie City Council on February 4, 2003.
Tyr uM'e7A,Mayor
ATTEST:
Kathleen Porta, City Clerk