HomeMy WebLinkAbout1995-001 HRARCommissioner Barb Kalligher introduced the following resolution
and moved its adoption:
HM RESOLUTION NO. 95-01
RESOLUTION ACCEPTING STIPULATION TO AMEND ASSESSMENT
AGREEMENT ON EARLE BROWN COMMONS
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Brooklyn Center (the "HRA") and Earle Brown Commons Limited Partnership ("EBCLP I"),
entered into an agreement denominated Assessment Agreement and Certification of Assessor on
September 1, 1986 (the "Assessment Agreement"), and the Assessment Agreement was entered
into in relation to a tax increment financing of the redevelopment of certain real property located
in the Earle Brown Redevelopment District in the City of Brooklyn Center; and
WHEREAS, a dispute has arisen between Earle Brown Limited Partnership II (the
successor to EBCLP I) (the "Debtor") and the HRA; and
WHEREAS, the Debtor is the debtor in bankruptcy case no. 4-94-41148, now
pending in the United States Bankruptcy Court, District of Minnesota (the "Bankruptcy Case");
and
WHEREAS, the HRA and the Debtor have determined that it is in each of their
best interests to resolve this dispute amicably in order to avoid the expense of litigation and the
uncertainty attendant thereto through entering into the "Stipulation Among the Debtor, the City
of Brooklyn Center, the Housing and Redevelopment Authority in and for the City of Brooklyn
Center, Hennepin County Assessor, Hennepin County, and Independent School District Number
286" dated as of January 4, 1995, and to be filed in the Bankruptcy Case.
NOW, THEREFORE, BE IT RESOLVED by the HRA as follows:
The HRA declares that it approves that certain "Stipulation Among the Debtor,
the City of Brooklyn Center, the Housing and Redevelopment Authority in and for the City of
Brooklyn Center, Hennepin County Assessor, Hennepin County, and Independent School District
Number 286" dated as of January 4, 1995; that the HRA is authorized to enter into and perform
pursuant to its terms; and that its Chair is authorized to appear and execute such Stipulation and
the documents referenced therein on behalf of the HRA.
January 9, 1995
Date
U
dair
HRA RESOLUTION NO. 95-01
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Kristen Mann and upon vote being taken thereon, the following voted
in favor thereof:
Myrna Kragness, Barb Kalligher, Kristen Mann, Debra Hilstrom, and Kathleen Carmody;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
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