10-03 HRA Resolution Conditionally Designating Global One Commercial as Developer of a Portion of the Golden Hills Redevelopment Area
Resolution 10-03
March 9, 2010
Commissioner Freiberg introduced the following and moved its adoption:
RESOLUTION CONDITIONALLY DESIGNATING GLOBAL ONE COMMERCIAL
AS DEVELOPER OF A PORTION OF THE GOLDEN HILLS REDEVELOPMENT
AREA
(MnDOT Parcel 38, East of the Golden Hills Shopping Center)
WHEREAS, the Minnesota Department of Transportation (MnDOT)
acquired for the construction of 1-394 certain surplus property referred to as
MnDot Parcel 38 and located east of Golden Hills Shopping Center, in the
Golden Hills Redevelopment Area; and
WHEREAS, Global One Commercial would like to redevelop this parcel
with a six-story, 165-room hotel with an attached one-story bank facility and a
six-story 138-unit apartment building with parking for these facilities totaling 270
enclosed and 112 surface spaces; and
WHEREAS, the HRA is willing to discuss with MnDOT the purchase of its
parcel, and discuss with Global One Commercial the sale of the MnDOT parcel
for redevelopment purposes.
NOW, THEREFORE, BE IT RESOLVED, by the HRA as follows:
1. Global One Commercial is conditionally designated as developer of the
MnDOT Property (Parcel 38) east of the Golden Hills Shopping Center.
2. The HRA understands that Global One Commercial will undertake all
planning and development efforts to construct a project that meets the
requirements of the HRA and City, and Global One Commercial shall enter into a
negotiated development agreement with the HRA, which development
agreement shall contain terms satisfactory to the HRA.
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 may rescind this
designation at any time in its sole and absolute discretion. Subject to the
foregoing, the HRA agrees to continue to discuss the development with Global
One Commercial until such time as the HRA determines to terminate such
discussions in its sole and absolute discretion.
4. No zoning consideration such as a change in zoning, PUD classification
or variance are granted or implied by this action.
5. This designation is effective as of the date hereof and, unless
previously terminated by the HRA in its sole in absolute discretion, shall
automatically terminate and be of no force or effect at such time as the
development agreement between Global One Commercial and the HRA is
executed by all parties, or November 1, 2010, whichever occurs earlier.
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Paula Pentel, Chair
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Thomas D. BU: ;;;(
Motion for the adoption of the foregoing resolution was seconded by Shaffer; and
upon a vote taken thereon, the following voted in favor thereof Freiberg, Shaffer
and Pentel the following voted against the same: Loomis, whereupon said
resolution was declared duly passed and adopted, signed by the Chair and his
signature attested by the Director.