HomeMy WebLinkAbout2007-019 EDAR1
1
Commissioner Kay Lasman
and moved its adoption:
EDA RESOLUTION NO. 2007 -19
introduced the following resolution
RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF A SECOND
AMENDMENT TO THE DEVELOPMENT AGREEMENT BETWEEN THE
ECONOMIC DEVELOPMENT AUTHORITY AND BROOKLYN HOTEL
PARTNERS, LLC
WHEREAS, the Economic Development Authority of Brooklyn Center,
Minnesota (the EDA) has heretofore entered into a development agreement (The Development
Agreement) between the EDA, the City of Brooklyn Center (The City) and Brooklyn Hotel
Partners, LLC, a Minnesota Limited Liability Company (The Developer) in connection with the
developers proposed construction of a hotel development in the City (The Project); and
WHEREAS, the EDA has caused to be prepared a Second Amendment to
Development Agreement between the EDA and the Developer providing for a later extended
closing date for the purchase and construction of Phase I of the Development; and
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Brooklyn Center, Minnesota as follows:
Section 1. The Board of Commissioners hereby approves the Second Amendment
to Development Agreement and the President and Executive Director are hereby authorized and
directed to execute the Second Amendment to Development Agreement on behalf of the EDA.
October 8, 2007
Date President
The motion for the adoption of the foregoing resolution was duly seconded by commissioner Dan Ryan
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.