2011-06H HRA ResolutionMOUND HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 11 -06H
RESOLUTION AUTHORIZING SECOND AMENDED AND RESTATED ADDENDUM TO
CONTRACT FOR PRIVATE REDEVELOPMENT
WHEREAS, the authority and the Redeveloper entered into a Contract for Private
Redevelopment dated March 22, 2005, and subsequently amended by First Amendment to
Contract for Private Redevelopment dated July 5, 2005, and by Addendum to Contract for
Private Development dated April 22, 2008, and by Amended and Restated Addendum to
Contract for Private Development dated June 8, 2011, (collectively, the "Contract "); and
WHEREAS, it is the desire of the parties to enter into this Seconded Amended and Restated
Addendum in order to address matters that have occurred since the amendment; and
WHEREAS, the Authority has reviewed the form of document entitled: Seconded Amended and
Restated Addendum to Contract for Private Development, (attached hereto as Exhibit A) has
received the recommendations of staff regarding same and is fully informed as to its content.
NOW, THEREFORE, BE IT RESOLVED by the Authority as follows:
1. The Second Amended and Restated Addendum is, in all respects hereby approved.
2. The Executive Director and Authority Chair are directed to execute the same and to
take all steps necessary to carry out the obligations of the Authority thereunder.
Adopted by the Housing and Redevelopment Authority in and for the City of Mound, Minnesota,
this 13 day of December, 2011.
I AX
Chair Mark Hanus
Attest: Bonnie Ritter, City Clerk
f
EXHIBIT A
SECOND
AMENDED AND RESTATED
ADDENDUM
TO
CONTRACT FOR PRIVATE DEVELOPMENT
THIS SECOND AMENDED AND RESTATED ADDENDUM is made and entered into as
of the _ day of December, 2011 by and between the Housing and Redevelopment Authority
in and for the City of Mound, Minnesota, a public body corporate and politic (the "Authority ") and
Mound Harbor Renaissance Development, LLC, a Minnesota limited liability company,
(the "Redeveloper")
RECITALS
WHEREAS, the Authority and the Redeveloper entered into a Contract for Private
Redevelopment dated March 22, 2005, and subsequently amended by (i) First Amendment to
Contract for Private Redevelopment dated July 5, 2005, and (ii) Addendum to Contract for
Private Redevelopment dated April 22, 2008, and Amended and Restated Addendum to
Contract for Private Development dated January 8, 2010 (collectively, the "Contract "); and
WHEREAS, it is the desire of the parties to enter into this Second Amended and
Restated Addendum in order to address matters that have occurred since the late amendment.
NOW THEREFORE, in consideration of the premises and mutual obligations of the
parties hereto, the parties hereby agree as follows:
Section 1. Scope and Intent of Second Amended and Restated Addendum. The provisions
of this Addendum are intended to replace and supersede any provisions in the Contract
inconsistent with the provisions herein; but that otherwise, the Contract is to remain in full force
and effect according to its terms.
Section 2. Phase I Commencement and Completion of Minimum Improvements.
1. The parties acknowledge that construction of the Phase I Minimum
Improvements was commenced in a timely manner and in accordance
with the provisions of the Contract.
2. The time limits for completion of construction of the Phase I Minimum
Improvements are hereby released.
Section 3. Phase II Commencement and Completion of Minimum Improvements.
1. Construction of the Phase II Minimum Improvements will be done in stages. The
first stage, Stage I will involve the construction of a structure which may include
mixed uses located westerly of Stage II. Construction of Stage I must commence
not later than January 1, 2015, and be completed not later than 15 months after
commencement.
2. Construction of Stage II of Phase II (Stage II may include all or part of Phase II
lying east of Stage 1) must be commenced not later than two years after
commencement of Stage 1, and be completed not later than 15 months after
commencement.
3. Construction of Stage III of Phase II (Stage III will include all of Phase II not
covered by Stages I and 11) will commence not later than two years after
commencement of Stage 11, and be completed not later than 15 months after
commencement.
4. If the Redeveloper fails to commence or complete construction of Stage I within
the time limits contained in 1 above, the Authority may terminate the Contract as
it pertains to the rights and obligations of Redeveloper to construct the Phase II
Minimum Improvements.
5. If the Redeveloper commences and completes the Stage I Minimum
Improvements within the time limits contained above, but fails to commence or
complete the Stage II Minimum Improvements within the time limits contained in
2 above, the Authority may terminate the Contract as it pertains to the rights and
obligations of the Redeveloper to construct the Stage II and III Minimum
Improvements.
6. If the Redeveloper commences and completes the Stage II Minimum
Improvements within the time limits contained above, but fails to commence or
complete the Stage III Minimum Improvements within the time limits contained in
3 above, the Authority may terminate the Contract as it pertains to the rights and
obligations of the Redeveloper to construct the Stage III Minimum Improvements.
Section 4. Earlier Termination. Either party may terminate the Contract as it
pertains to the rights and obligations of Redeveloper to construct the Phase II Minimum
Improvements upon any of the following:
1. The City has not given preliminary plat approval to the plating of the parcel
on which the Stage I Minimum Improvements will be constructed within six
months of the date of this Second Amended and Restated Addendum.
2. The parties have not reached agreement, and as necessary, amended the
Contract to address such matters as the amount of payment which
Redeveloper will make for the purchase of Stage I lands owned by the HRA
or City, and the allocation of tax increment between the Redeveloper and the
H RA.
3. The Redeveloper has not submitted the final plat for approval or has not
obtained final approval not later than sixteen months following approval of
the preliminary plat.
Section 5. Phase III Right to Assign. Redeveloper hereby agrees that, unless it has
commenced construction on the Phase III Minimum Improvements, it will transfer and
assign its right title and interest in and to the development of Phase III to any entity
designated and approved by the Authority for that purpose. Until such designation is
made, the Redeveloper may continue to review and act on the redevelopment of Phase
III.
Section 6. Phase Ill Commencement and Completion of Minimum Improvements.
Unless extended, construction of the Phase Ill Minimum Improvements will commence
not later than December 1, 2013, and be completed not later than December 1, 2015.
IN WITNESS WHEREOF, the parties have caused this Addendum to the Contract for
Private Redevelopment to be duly executed in each of their names and on their behalf on or as
of the date first above written.
Dated: , 2011
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF MOUND, MINNESOTA
L7�
By
Mark Hanus
Chair
By
Kandis M. Hanson
Executive Director
Dated: , 2011
MOUND HARBOR RENAISSANCE
DEVELOPMENT, LLC,
By
David Newman
Chief Manager
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Demonstration of a Successful Conversion to Asset Management (Stop -Loss) Submission Kit
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Board Resolution Approving the AMP Budgets
PHA Boar! Resolution OMB No. 467mozi; Appmv)
Approving Operating Budget (exp. 10131=09)
U.S. Department of Housing and Urban Development
Office of Public and Indian Housing
Real Estate Assessment Center (PIH -REAL)
Previous editions are obsolete form HUD -52574 (0812005) Public reporting burden for thia collection of Marialon Is estimated to average 10 missies per
response, including the time for reviewing Instructions, searching u1sti g date sources, gathering end maintaining the data needed, and wmpMrug and nMe si g the
collection of inbmation. This agency may not collect this Information, and you are not required to complete this form, unless it displays a tuna sty vald OMB ax*d
number. This Information is required by Section 6(cK4) of the U.S. Housing Act of 1931. The infamalion Is the operating budget for the loan income pAk housing
program and provides a summary of the proposedlbrbgeted receipts and expenditures, approval of budgeted receipts and o mdlurse, and 005odm of caleN
spedfied amounts. HUD reviews the Information to determine If the operating plan adopted by the public housing agency (PHA) and the amounts are ressonsik and
that the PHA is in complance vdth procedures prescribed by HUD. Responses are required to obtain benefits. This information does riot lend ileelf to corddenfolty.
PHA Name: �A 0 k nt O i (e- A PHA Code: Min) 0
PHA Fiscal Year Beginning: 1— 1 — 'oi 0 t ) - Board Resolution Number:
Acting on behalf of the Board of Commissioners of the above -named PHA as its Chairperson, I make the
following certifications and agreement to the Department of Housing and Urban Development (HUD)
regardiniz the Board's approval of (check one or more as applicable):
Operating Budgets (/or COCC and all Projects) approved by Board
resolution on:
❑ Operating Budget submitted to HUD, if applicable, on:
• Operating Budget revision approved by Board resolution on:
• Operating Budget revision submitted to HUD, if applicable, on:
•
I certify on behalf of the above -named PHA that:
1. All statutory and regulatory requirements have been met;
2. The PHA has sufficient operating reserves to meet the working capital needs of its developments;
3. Proposed budget expenditures are necessary in the efficient and economical operation of the housing for the
purpose of serving low- income residents;
4. The budget indicates a source of funds adequate to cover all proposed expenditures;
5. The PHA will comply with the wage rate requirement under 24 CFR 968.110(e) and (f); and
6. The PHA will comply with the requirements for access to records and audits under 24 CFR 968.325.
I hereby certify that all the information stated within, as well as any information provided in the
accompaniment herewith, if applicable, is true and accurate.
Warning: HUD will prosecute false claims and statements. Conviction may result in criminal and/or civil
penalties. (18 U.S.C. 1001, 1010, 1012.31, U.S.C. 3729 and 3802)
Print Board ft 9-t< r� -t<-' Name:
CT R-r-J U- 5 I Signan' / "1 e ! _ ,�.E/_�- --- ..L Dkt`. — C 3 — 1 ! I
Previous editions are obsolete form HUD -52574 (08/2005)
-14-
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