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2004 HRA RESOLUTION 04-08 Resolution 04-08 June 8, 2004 . Commissioner Freiberg introduced the following and moved its adoption: RESOLUTION AMENDING THE GOLDEN RIDGE PRIVATE DEVELOPMENT AGREEMENT AND APPROVING PLANS WHEREAS, on December 9, 2003, the Housing and Redevelopment Authority (HRA) adopted Resolution 03-11, Approving Conditional Sale Of Certain Real Property For A Housing Development Pursuant To The Golden Valley Housing Program (Golden Ridge Development); and WHEREAS, Section 3.2, Planning Approvals, in paragraph two of said agreement calls for the creation of a town home association as part of the City planning approval process, which was subsequently not required by the City; and WHEREAS, Section 4.1, Approval of Development Plans, of said agreement, calls for the HRA to approve development plans for this project following the City planning review process, which has been completed. NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment Authority in and for the City of Golden Valley (HRA) that: . 1. The Amendment to Golden Ridge Development Agreement, attached hereto as Exhibit A, is hereby approved, and the Chair and the Director of the HRA are hereby authorized to execute said amendment; and 2. As there is no change to the development plans included as Exhibit C of the Development Agreement, the HRA reaffirms its approval of said plans; and 3. The.Building Materials and Landscaping as outlined in the attached Exhibit B are hereby approved. ~- colt D. Grayson. Chair ATTEST: ~~ Thomas D. Burt, D' or . Motion for the adoption of the foregoing resolution was seconded by Commissioner Shaffer and upon a vote taken thereon, the following voted in favor thereof: Freiberg, Grayson, Loomis, Shaffer and Tremere; and the following voted against the same: none; the following was absent: none, whereupon said resolution was declared duly passed and adopted, signed by the Chair and his signature attested by the Director. . . . Resolution 04-08 (Con't.) June 8, 2004 EXHIBIT A AMENDMENT TO GOLDEN RIDGE DEVELOPMENT AGREEMENT THIS AMENDMENT, effective as of June ,2004, is made and entered into by and between the Housing and Redevelopment Authority in and for the City of Golden Valley, a public body corporate established and existing under Minnesota Statutes, Section 469.001 et seq., with its principal offices at 7800 Golden Valley Road, Golden Valley, Minnesota 55427(the "HRA"), and BULLSEYE DEVELOPMENT, LLC, a Minnesota limited liability company, with its principal office at 1920 Winnetka Avenue, Golden Valley, Minnesota 55427 ("Developer"). WHEREAS, the HRA and Developer entered into the Golden Ridge Development Agreement ("Development Agreement") as of December 9,2003, which Development Agreement provides for the development of certain property in the city of Golden Valley by the construction of 16 housing units. WHEREAS, the parties wish to amend the Development Agreement; NOW, THEREFORE, in consideration of the foregoing, and in consideration of the mutual terms and conditions contained in the Development Agreement, the parties hereby amend the second paragraph of Section 3.2 thereof to read as follows: "Developer acknowledges and agrees that as a part of its planning approvals with the city, it will cause declarations or covenants to be recorded against the development property which provide for party walls in the townhomes proposed to be built as well as other common issues involving the townhome owners, all in conformance with the Minnesota statutes and city requirements." IN WITNESS WHEREOF, the BRA has caused this Agreement to be duly executed in its name and behalf and Developer has caused this Agreement to be duly executed in its name and behalf, as of the date first above written. THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF GOLDEN VALLEY By: ~/L--- Its:/' Chair And: Its: Director . . . STATE OF MINNESOTA ) ) SS. COUNTY OF HENNEPIN ) BULLSEYE DEVELOPMENT LLC By: Its: President The foregoing instrument was acknowledged before me this day of ,2004, by Scott D. Grayson, Chair and Thomas D. Burt, Director, of THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF GOLDEN VALLEY, on behalf of the organization. STATE OF MINNESOTA ) ) SS. COUNTY OF HENNEPIN ) Notary Public The foregoing instrument was acknowledged before me this day of , 2004, by William Bergquist, President of BULLSEYE DEVELOPMENT LLC, a Minnesota limited liability company, on behalf of the company. DRAFTED BY: Best & Flanagan LLP (ADB) 225 South Sixth Street, Suite 4000 Minneapolis, Minnesota 55402-4690 009999/001400/305668_1 Notary Public . . . EXHIBIT B Golden Ridge Development - Building Materials and Landscaping The Developer of Golden Ridge has platted the development property into a 16 unit subdivision (two single family lots and 14 duplex - common wall lots). Eight (8) of the duplex lots will be sold by the Developer to Twin Cities Habitat for Humanity to construct and sell eight (8) twin-home common wall duplex units for single family occupancy. The Developer will construct and sell six (6) twin-home common wall duplex units and two (2) single family homes for single family occupancy. All the units (Developer and Habitat) will have exterior walls of similar materials and colors so as to blend and appear consistent as one development. The front or street facing sides of all units will have some prominent common element or theme that will aesthetically tie all the units together. One of these common elements will be pillars supporting the posts or columns of the front porch and entryway areas of the same brick and stone facing. They will all be of a similar height and shape so as to show a consistent element throughout the development. Brick and stone facing will accent the front. The remainder of the walls will be covered with vinyl siding and/or stucco or a stucco type low maintenance material. The footprint of the homes will comply with and fall within the buildable areas of each lot as defined by the PUD. The interior floor plans are customized to the homebuyer requirements. Homebuyers are encouraged to select finishes and amenities such as: hardwood floors, carpet, tile, counter-top material, kitchen and bathroom appliance materials and features, fireplaces, three/four season porches, deck and patio materials. Most of the differences in the units will be the interior amenities selected by the homebuyer and very little choice will be given to the buyer in the exterior design and finish. The sunroom/deck/patio choices will be about the only exterior differences. All lots will be backfilled to final grade and landscape specs for seeding or sod. Shrubs and trees will be planted to accent each unit and will conform to the overall landscape plan.