HomeMy WebLinkAboutResolution - 90-117 - Approving Amended Assumption Agreement - Parkway Apartments - 04/17/1990 RESOLUTION NO. 0 -/ /7
• RESOLUTION AUTHORIZING CONSENT TO
TRANSFER OF PROJECT FINANCED BY
HOUSING DEVELOPMENT REVENUE NOTE
(PARKWAY APARTMENTS LIMITED
PARTNERSHIP PROJECT) , SERIES 1985
BE IT RESOLVED by the City Council of the City of Eden
Prairie, Minnesota as follows:
Pursuant to a Resolution adopted on March 13, 1990, (the
"Resolution") the City authorized transfer of the multi-family
housing project known as Parkway Apartments from the original
developer Parkway Apartments Limited Partnership to Parkway
Properties of Eden Prairie, Inc. ("Parkway") and from Parkway to
Equity Financial or the Equity Group. Since the date of the
Resolution, it now appears the project may instead be sold to an
entity affiliated with Welsh Companies, Inc. or a partnership the
general partnership of which is an affiliate or subsidiary of
Welsh Companies, Inc. ("Welsh") . The City hereby approves the
transfer of the Project to Welsh and includes Welsh in all
approvals set forth in the Resolution.
Adopted April 17, 1990.
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