HomeMy WebLinkAbout2017 07-10 EDAPResolution Approving a First
Amendment to the Contract for
Development for Property located at
6250 Earle Brown Drive.
(Marriott Fairfield Inn & Suites)
EDA Meeting
July 10, 2017
Agenda Item 4.A
BACKGROUND
On March 28, 2016, the Economic Development Authority adopted Resolution No.
2016-09, a Resolution Accepting Rudra Management’s Letter of Intent for
Development of Lot 2, Block 1, Brooklyn Farm 2nd Addition and Authorizing the
Preparation of a Development Agreement (Phase II Embassy PUD). The
resolution authorized the following actions:
1.The Executive Director execution of the Letter of Intent with Minnesota
Hospitality Inc. for the development of a 4 story 83 room Marriott Fairfield Inn
& Suites consistent with the conceptual development plans of the approved
with the 2013 PUD amendment.
2.To proceed with the negotiations for the sales of this site, excluding the portion
of the lot containing the pond and trail, for $100,000, without provisions for a
10 year Tax Abatement Plan, as initially approved in 2007 for the Phase I and
II development.
3.To proceed with the preparation of a development agreement with terms,
conditions, and actions necessary for the conveyance and development of Lot
2, Block 1, Brooklyn Farms 2nd Addition.
BACKGROUND CONTINUED
•On May 23, 2016, the EDA approved Resolution No. 2016-14, Resolution
Approving a Contract for Private Development (Brooklyn Center Hotel
Group, LLC Embassy Suites Phase II).
•September 26, 2016 – EDA conducts public hearing to announce the terms
and conditions associated with the conveyance of a portion of 6250 Earle
Brown Drive to the Brooklyn Center Hotel Group, LLC - for development
of a new 82-Room Fairfield Inn and Suites Hotel; EDA adopts Resolution
No. 2016-21.
•On November 4, 2016 the conducts a public hearing to conducted a public
hearing to convey the pond parcel to the Brooklyn Center Housing and
Redevelopment Authority (HRA), the owner of Earle Brown Heritage
Center
•On November 15, 2016, the closing with Brooklyn Center Hotel Group for
the development of the Fairfield Inn & Suites Hotel is completed.
First Amendment to the Contract for Development
(Fairfield Inn and Suites Hotel)
•The amendment revises the commencement date for
construction to start from December 15, 2016 until
November 15, 2017 and substantial completion no later
than October 30, 2018
RECOMMENDATION
It is recommended that the Economic Development
Authority consider approval/adoption of a
Resolution Approving a First Amendment to the
Contract for Development for the Property located
at 6250 Earle Brown Drive.