HomeMy WebLinkAboutResolution - HRA 2007-04 - Town Center Phase 1 TIF District #21 - 09/04/2007 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
HOUSING AND REDEVELOPMENT AUTHORITY
H.R.A. RESOLUTION NO. 2007-04
RESOLUTION APPROVING A DEVELOPMENT AGREEMENT
RELATING TO TOWN CENTER PHASE ONE TAX INCREMENT
FINANCING DISTRICT NO. 21 LOCATED WITHIN
REDEVELOPMENT PROJECT AREA NO. 6
BE IT RESOLVED by the Board of Commissioners (the "Board") of the Housing and
Redevelopment Authority in and for the City of Eden Prairie, Minnesota (the "Authority"), as
follows:
Section 1. Recitals.
1.01. On December 19, 2007 the Authority adopted a modification to the
Redevelopment Plan for Redevelopment Project Area No. 6, established Town Center Phase One
Tax Increment Financing District Tax Number 21 and adopted a Tax Increment Plan (the "TIF
Plan") therefore, all pursuant to and in conformity with applicable law, including Minnesota
Statutes, Sections 469.174 to 469.1799, all inclusive, as amended.
1.02 The Authority is now presented for consideration and approval a Development
Agreement between the Authority and Windsor Plaza, LLC (the "Development Agreement') as
contemplated by the TIF Plan.
Section 2. Approval of Development Agreement
2.01 The Authority hereby approves the Development Agreement between the
Authority and Windsor Plaza, LLC in substantially the form presented to and on file with the
Authority and authorize the Chairperson and Executive Director to execute the Development
Agreement in the name of the Authority.
Adopted by the Housing and Redevelopment Authority in d for the City of Eden Prairie,
Minnesota, this 4th day of September, 2007.
ung, C ai on
ATTEST:
Scott H. Neal, Executive Direc or