HomeMy WebLinkAbout2009-015 EDAR Commissioner Kay Lasman introduced the following resolution and
moved its adoption:
EDA RESOLUTION NO. 2009-15
RESOLUTION AUTHORIZING EXECUTION OF A SECOND AMENDMENT
TO REAL ESTATE OPTION AGREEMENT
A. WHEREAS, the Economic Development Authority of the City of Brooklyn Center,
Minnesota (the "Authority") and the United States of America, acting by and through the U.S.
General Services Administration (the "GSA") have heretofore entered into a Real Estate Option
Agreement (the "Option Agreement") providing for the Authority's conveyance of certain real
property to GSA for the purpose of constructing office space containing approximately 162,000
square feet of rentable space with a future onsite parking facility structure having a minimum of 200
spaces (the "Project") within the City of Brooklyn Center, Minnesota (the "City").
B. WHEREAS, the GSA has assigned its right and interest in the Option Agreement to
Barry Minneapolis, LLC (the "Developer").
C. WHEREAS, the Authority and the Developer entered into a First Amendment to Real
Estate Option Agreement dated effective as of June 19, 2009 to extend the term of the option granted
in the Option Agreement.
D. WHEREAS, the Authority and the Developer desire to amend the Option Agreement
pursuant to a Second Amendment to Real Estate Option Agreement (the "Amendment") to further
extend the term of the option granted in the Option Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of
Brooklyn Center, Minnesota, as follows:
1. The Board of Commissioners hereby approves the Amendment in substantially the
form submitted, and the Executive Director is hereby authorized and directed to execute the
Amendment on behalf of the Authority.
2. The approval hereby given to the Amendment includes approval of such additional
details therein as may be necessary and appropriate and such modifications thereof, deletions
therefrom and additions thereto as may be necessary and appropriate and approved by the Authority
officials authorized by this resolution to execute the Amendment. The execution of the Amendment
by the appropriate officer or officers of the Authority shall be conclusive evidence of the approval of
the Amendment in accordance with the terms hereo£
Sebtember 14, 2009
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, Tim Roche, Dan Ryan, and Mark Yelich;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.
EDA RESOLUTION N0. 2009-15
STATE OF MINNESOTA
COUNTY OF HENNEPIN
CITY OF BROOKLYN CENTER
I, the undersigned, being the duly qualified and acting Secretary of the Economic
Development Authority of the City of Brooklyn Center, Minnesota, DO HEREBY CERTIFY that I
have carefully compared the attached and foregoing extract of minutes with the original minutes of a
meeting of the Board of Commissioners of the City held on the date therein indicated, which are on
file and of record in my office, and the same is a full, true and complete transcript therefrom insofar
as the same relates to a Resolution Authorizing Execution of a Second Amendment to Real Estate
Option Agreement.
WITNESS my hand as such Secretary of the Board of Commissioners of the Economic
Development Authority of the City of Brooklyn Center, Minnesota this day of
2009.
Secretary