HomeMy WebLinkAboutResolution - HRA 97-2 - Project Management Agreement - Edenvale Family Housing Limited Partnership - 12/16/1997 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR
THE CITY OF EDEN PRAIRIE, EDEN PRAIRIE, MINNESOTA
RESOLUTION NO. HRA 97-2
RESOLUTION AUTHORIZING THE EXECUTION OF THE PROJECT MANAGEMENT
AGREEMENT BY AND BETWEEN THE HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF EDEN PRAIRIE ("AGENCY") AND
EDENVALE FAMILY HOUSING LIMITED PARTNERSHIP ("DEVELOPER")
WHEREAS, the Developer is the owner of certain real property located in the City of
Eden Prairie on which the Developer is to construct a 32-unit family affordable housing project
to be occupied by low-income persons as described in the Project Management Agreement; and
WHEREAS, to assist the Developer in the construction of the project, the Agency has
agreed to provide a loan to the Developer pursuant to the Project Management Agreement; and
WHEREAS, the Agency has also agreed to provide tax increment financing to reimburse
the Developer for certain qualified costs pursuant to Minnesota Statutes §§ 469.174 to 469.179
• as amended; and
WHEREAS, the Agency and Developer desire to enter into a written agreement with
regard to the development and operation of the project;
NOW, THEREFORE, BE IT RESOLVED:
1. The Project Management Agreement is approved substantially in the form
submitted and the Agency is authorized to enter into said Agreement.
2. The Project Management Agreement is directed to be executed in the name and
on behalf of the Agency by its Chairperson and its Administrator. In the absence of the
Chairperson and its Administrator, the document authorized by this Resolution may be executed
by the Acting Chairperson and designee of the Administrator, respectively.
3. The approvals hereby given to the document referred to above include approval
of such additional details therein as may be necessary and appropriate and such modifications
thereof, deletions therefrom and additions thereto as may be necessary and appropriate and
approved by the Agency's counsel and the officials authorized herein to execute such document
prior to its execution; and said officials are hereby authorized to approve said changes on behalf
of the Agency. The execution of any instrument by the appropriate officer or officers of the
Agency herein authorized shall be conclusive evidence of the approval of such document in
accordance with the terms thereof.
•
4. The Resolution shall take effect immediately.
Passed by the Housing and Redevelopment Authority in and for the City this day
of CP&r , 1997.
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