2016-10H HRA ResolutionMOUND HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 16-10H
RESOLUTION APPROVING EARLY START
AGREEMENT REGARDING INDIAN KNOLL MANOR
WHEREAS, the property located at 2020 Commerce Boulevard ("the Property"), which includes
the Indian Knoll Manor apartment complex, is owned by the Housing and Redevelopment
Authority of and for the City of Mound ("HRA"); and
WHEREAS, the Property is subject to a Purchase Agreement between the HRA and Aeon; and
WHEREAS, the Property and adjacent property at 5524 Spruce Road owned by IKM Limited
Partnership ("Developer") are subject to a redevelopment project to include remodel/addition of
the existing apartment complex to add 6 new units and construction of 10 new townhomes ("the
Project');
WHEREAS, the Project has received Mound City Council approval of a preliminary plat,
(Resolution No. 16-81), a Conditional Use Permit -Planned Development Area (CUP -PDA),
expansion permits, and variances (Resolution No. 16-82); and
WHEREAS, a final plat has been submitted by the Developer and is scheduled for
consideration by the Mound City Council at its October 25, 2016 meeting along with a
development agreement; and
WHEREAS, Aeon, on behalf of the Developer, on October 7, 2016, submitted a written request
for permission to start work on the Indian Knoll Manor apartment complex, prior to acquiring the
Property, to avoid seasonal issues that would lead to increased project costs and also to
maintain a construction schedule that will allow for project completion in the summer of 2017;
and
WHEREAS, the scope of the activities the Developer is requesting approval by the HRA for an
early start includes interior demolition of Units 104 and 209, excavation for footings, forming and
pour footings, building the foundation wall and backfilling (collectively, the "Activities"); and
WHEREAS, the demolition of the units is to begin on or around November 2, 2016 with the rest of
the Activities to follow thereafter; and
WHEREAS, the HRA has reviewed the form of document entitled "Early Start Agreement
Regarding Indian Knoll Manor," attached hereto as Exhibit A, and has been recommended for
HRA approval by Staff; and
WHEREAS, it is the desire of the HRA to enter into said agreement to authorize the Activities.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment Authority of and
for the City of Mound, Minnesota, as follows:
The Early Start Agreement Regarding Indian Knoll Manor, in substantially the
form included as Exhibit A, is in all respects hereby approved. The HRA
Executive Director and HRA Attorney are hereby authorized to make such
revisions to the agreement as may be needed to finalize the agreement, provided
all such revisions are in keeping with the intent of this Resolution and the
agreement.
2. The Executive Director and Board Chair are hereby authorized and directed to
execute the agreement once it is finalized and to take all steps necessary to
carry out the obligations of the Authority thereunder.
Adopted by the Housing and Redevelopment Authority of and for the City of Mound, Minnesota,
this 11th day of October, 2016.
Chair Mark Wegscheid
Attest: Catherine Pausche, City Clerk
RESOLUTION NO. 16-10H
Exhibit A
(Form of Early Start Agreement Regarding Indian Knoll Manor)
(attached hereto)