96-04 HRA Resolution
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Resolution 96-4
December 11, 1996
Commissioner LeSuer introduced the following and moved its adoption:
RESOLUTION RENEWING THE CONDITIONAL DESIGNATION OF
CSM CORPORATION AS DEVELOPER OF A
PORTION OF THE GOLDEN HILLS
REDEVELOPMENT AREA
WHEREAS, the HRA in and for the City of Golden Valley (hereinafter
"HRA") and the City Council for the City of Golden Valley (hereinafter "City") have
approved the Golden Hills Redevelopment Plan as amended; and
WHEREAS, CSM Corporation is interested in developing a portion of the
Golden Hills Redevelopment Area by constructing hotel, retail and restaurant
facilities ("the project"); and
WHEREAS, the HRA, in Resolution 96-2 dated July 9, 1996, designated
CSM Corporation as developer of approximately 12 acres in the central portion
of the redevelopment area; and
WHEREAS, said designation terminated November 1, 1996 and the HRA
now wishes to renew said designation.
NOW, THEREFORE, BE IT RESOLVED, by the HRA as follows:
1. CSM Corporation is hereby conditionally designated developer of
approximately 12 acres of the Golden Hills Redevelopment Area.
2. The HRA understands that CSM Corporation will undertake all
planning and development efforts to construct the project on such property, and
CSM understands that it will have to meet the requirements of the HRA and City
and that it will enter into a negotiated development agreement with the HRA,
which development agreement shall contain terms satisfactory to the HRA and
CSM Corporation
3. The designation contained in this resolution is not an offer or an
agreement to sell the development property, or the grant of an option or any
other interest in the development property. The HRA reserves the right to
rescind the designation at any time in its sole and absolute discretion.
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Resolution 96-4 - Continued
December 11, 1996
4. This designation is effective as of the date hereof and shall
automatically terminate and be of no force or effect at such time as the
development agreement between CSM Corporation and the HRA is executed by
both parties, or June 1, 1997, whichever occurs earlier.
!hAJr~ !Y~Jw
Martha Micks, Vice Chair
ATTEST:
Motion for the adoption of the foregoing resolution was seconded by
Commissioner Anderson; and upon a vote taken thereon, the following voted in
favor thereof: Anderson, LeSuer, Micks and Russell; and the following voted
against the same: none; and the following was absent: Johnson, whereupon
said resolution was declared duly passed and adopted, signed by the Vice Chair
and her signature attested by the Director.