98-03 HRA Resolution
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Resolution 98-03
April 14, 1998
Commissioner Bakken introduced the following and moved its adoption:
RESOLUTION CONDITIONALLY DESIGNATING
UNITED PROPERTIES
AS DEVELOPER OF A PORTION OF
GOLDEN HILLS (CENTRAL) 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; and
WHEREAS, United Properties is interested in developing a portion of the
Golden Hills Central Redevelopment Area by constructing an office building of at
least 130,000 sq. ft. ("the project"); and
WHEREAS, the HRA wishes to conditionally designate United Properties
developer of that part of the redevelopment area bounded by Golden Hills Drive
on the south, Laurel Avenue on the north, Turners Crossroad on the east and
Xenia Avenue on the west.
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NOW, THEREFORE, BE IT RESOLVED, by the HRA as follows:
1. United Properties is hereby conditionally designated developer of that
part of the Golden Hills (Central) redevelopment area bounded by Golden Hills
Drive on the south, Laurel Avenue on the north, Turners Crossroad on the east
and Xenia Avenue on the west.
2. The HRA understands that United Properties will undertake all
planning and development efforts to construct the project on such property, and
United Properties 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 United Properties.
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. Subject
to the foregoing, the HRA agrees to commence negotiation of the development
agreement with United Properties until such time as it determines to terminate
such negotiations in its sole and absolute discretion.
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Resolution 98-03 - Continued
April 14, 1998
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 United Properties and the HRA is executed by
both parties, or July 31, 1998, whichever occurs earlier.
ATTEST:
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Motion for t adoption of the foregoing resolution was seconded by
Commissioner Micks; and upon a vote taken thereon, the following voted in
favor thereof: Anderson, Bakken, Johnson, LeSuer and Micks; and the
following voted against the same: none, whereupon said resolution was
declared duly passed and adopted, signed by the Chair and her signature
attested by the Director.
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