2016-13H HRA ResolutionMOUND HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 16-13H
RESOLUTION APPROVING AMENDMENT TO 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 IKM
Limited Partnership ("Developer") with Aeon as its general partner; and
WHEREAS, the Property and adjacent property at 5524 Spruce Road owned by 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
WHERAS, on October 11, 2016, the HRA approved Resolution No. 16-10H approving an Early
Start Agreement Regarding Indian Knoll Manor to allow demolition of Units 104 and 209,
excavation for footings, forming and pour footings, building the foundation wall and backfilling,
subject to conditions; 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 has requested an amendment to the Early Start
Agreement Regarding Indian Knoll Manor (hereinafter "Amendment') to undertake additional
improvements on the HRA property including (1) construction of a temporary parking lot and
preparation of staging site in the current parking lot and courtyard area; (2) demolition of the
single family home at 5524 Spruce Road; (3) site clearing, utility work, excavation, mechanical
and electrical work; and (4) laying the footings, building the foundation wall and backfilling for
the new townhomes ("Additional Activities); and
WHERAS, Section 2.0 of the Agreement allows for amendments to be considered in the same
manner as the Early Start Agreement Regarding Indian Knoll Manor; and
WHEREAS, it is the desire of the HRA to enter into said Amendment to authorize the Additional
Activities.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment Authority of and
for the City of Mound, Minnesota, as follows:
1. The Amendment to the Early Start Agreement Regarding Indian Knoll Manor as
presented in Exhibit A and made a part herein is 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 Amendment to the Early Start Agreement Regarding Indian Knoll
Manor 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 25th day of October, 2016.
Chair Mark Wegscheid
6
Attest: Catherine Pausche, Clerk
RESOLUTION NO. 16- H
Exhibit A
(Form of Early Start Agreement Regarding Indian Knoll Manor)
(attached hereto)
AMENDMENT TO THE
EARLY START AGREEMENT
REGARDING INDIAN KNOLL MANOR
THIS AMENDMENT TO THE EARLY START AGREEMENT REGARDING
INDIAN KNOLL MANOR ("Amendment"), is made on this day of , 2016, by
and between the Housing and Redevelopment Authority of and for the City of Mound, Minnesota,
a Minnesota public body corporate and politic having its principal office at 2415 Wilshire
Boulevard, Mound, Minnesota, 55364 (the "HRA") and IKM Limited Partnership, a
Minnesota limited partnership ("Developer") having its principal office at 901 North Third
Street, Suite 150, Minneapolis, MN 55401.
RECITALS
A. The parties entered into an Early Start Agreement Regarding Indian Knoll Manor dated
as of October 11, 2016 ("Agreement"), that permitted certain "Activities" to be undertaken on the
"Property", as those terms are defined in the Agreement, prior to closing on the real estate
transaction and recording of the final plat and development.
B. Developer has requested the Agreement be amended to expand the list of Activities that
may occur on the Property under the Agreement and the parties desire to enter into this Amendment
to allow for such additional Activities.
AGREEMENT
NOW THEREFORE, HRA and Developer agree as follows:
1. Allowed Activities. Section 1.05 of the Agreement is amended to add the following
activities to the list of "Activities" that may occur on the Property in accordance with its terms and
conditions of the Agreement: (1) construction of a temporary parking lot and preparation of staging
site in the current parking lot and courtyard area; (2) demolition of the single family home at 5524
Spruce Road; (3) site clearing, utility work, excavation, mechanical and electrical work; and (4)
laying the footings, building the foundation walls and backfilling for the new townhomes.
2. Timing. Section 1.05 of the Agreement is amended to change the date on which the
demolition of the units is to being from November 2, 2016 to October 31, 2016.
3. No Further Amendments. Except as expressly amended by this Amendment, the
Agreement remains in full force and effect, and remains unmodified.
IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed
in their names and on their behalves on or as of the above date.
STATE OF MINNESOTA
COUNTY OF
HOUSING AND REDEVELOPMENT
AUTHORITY OF AND FOR THE CITY
OF MOUND, MINNESOTA
By:
Its Chair
And
By:
Its Executive Director
ss.
The foregoing instrument was acknowledged before me this day of
2016, by and
the Chair and Executive Director, respectively, of the Housing and Redevelopment Authority of
and for the City of Mound, Minnesota ("HRA").
Notary Public
2
STATE OF MINNESOTA
ss.
COUNTY OF
IKM LIMITED PARTNERSHIP
Its
The foregoing instrument was acknowledged before me this day of ,
2016, by , on behalf of IKM Limited Partnership ("Developer").
Notary Public
This instrument was drafted by:
THE CITY OF MOUND
2415 Wilshire Boulevard
Mound, MN 55364