HomeMy WebLinkAbout2007-013 EDAR1
Commissioner Dan Ryan introduced the following resolution and
moved its adoption:
EDA RESOLUTION NO. 2007 -13
RESOLUTION APPROVING AND AUTHORIZING EARLY CONSTRUCTION
UNDER DEVELOPMENT AGREEMENT BETWEEN THE ECONOMIC
DEVELOPMENT AUTHORITY, THE CITY OF BROOKLYN CENTER AND
BROOKLYN HOTEL PARTNERS, LLC
WHEREAS, the Economic Development Authority of the City of Brooklyn Center,
Minnesota (the "EDA has heretofore entered into a Development Agreement, as amended (the
"Development Agreement between the Economic Development Authority, the City of Brooklyn
Center (the "City and Brooklyn Hotel Partners, LLC, a Minnesota limited liability company (the
"Developer in connection with the Developer's proposed construction of a hotel development in
the City (the "Project and
WHEREAS, the Developer has requested that it be allowed to commence
construction of certain Project improvements on phase one of the development prior to the closing of
the acquisition of phase one by the Developer.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
of the City of Brooklyn Center as follows:
Section 1. Board of Commissioners does hereby approve the early start of
construction on phase one Lot 1, Block 1, Brooklyn Farm Second Addition (the "Property") by the
Developer, provided that such construction be limited only to certain site preparation work, including
only earth moving, grading, general site preparation and utility work (collectively, the "Work and
further provided that prior to the commencement of the Work, Developer provide to the EDA and the
City the following:
a. A written agreement signed by Developer agreeing to perform the Work in
accordance with the terms of the Development Agreement, including without
limitation all indemnities and such other protections as the Executive
Director of the EDA may, in his sole discretion, require.
b. A written commitment for construction financing in form and substance
acceptable to the Executive Director of the EDA and consistent with the
requirements of the Development Agreement.
c. Written approval of the EDA of the grading plans for phase one of the Project
and a grading permit and such other permits and approvals as may be
necessary for the Work issued by the City or other governing authorities or
entities and all applicable utility companies.
EDA RESOLUTION NO. 2007 -13
d. Copies of all signed contracts and subcontracts for the Work (the
"Contracts
e. Certificates of insurance as specified in Article VIII of the Development
Agreement.
f. Signed consents and waivers in favor of the EDA and the City in form and
substance acceptable to the Executive Director of the EDA from each
contractor and subcontractor performing the Work whereby all contractors
and subcontractors under the Contracts agree that (i) payment for all work
performed by them will be the sole responsibility of the Developer, and (ii)
all liens and claims they may have for the cost of the Work against the EDA,
the City and /or the Property are waived and released.
Notwithstanding the foregoing to the contrary, no such Work shall be commenced if
the Executive Director of the EDA determines that there exists good reason to withhold and/or deny
approval for the commencement of the Work, including without limitation, the failure or likely
failure of the Developer, as determined by the Executive Director of the EDA in his sole discretion,
to timely perform and observe all of its obligations and responsibilities under the Development
Agreement.
July 23, 2007
Date President
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner
Mark Yelich
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Kay Lasman, Dan Ryan, and Mark Yelich;
and the following voted against the same: Mary 0' Connor;
whereupon said resolution was declared duly passed and adopted.
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