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File #: RES 17-474    Version:
Type: Resolution Status: Archived
In control: Housing & Redevelopment Authority
Final action: 3/22/2017
Title: Approval of Third Amendment to the Phase III Development Agreement with the WSF Phase III LLC, District 3, Ward 2
Sponsors: Rebecca Noecker
Attachments: 1. Board Report, 2. Background, 3. Map, 4. District 3 Profile, 5. Building Elevations 1, 6. Building Elevations 2
Related files: RES 16-970, RES 15-1978, RES PH 12-312, RES 19-952, RES 17-2010
Title
Approval of Third Amendment to the Phase III Development Agreement with the WSF Phase III LLC, District 3, Ward 2
Body
WHEREAS, pursuant to Resolution PH 12-312, adopted October 24, 2012, the Housing and
Redevelopment Authority of the City of Saint Paul, Minnesota (“HRA”), and WSF Phase III LLC (the “Phase III Developer”) entered into the West Side Flats Phase III Development Agreement (the “Phase III Agreement”),which affects the sale and development of the HRA-owned land (the “Phase III Property”) described in the staff report attached thereto; and

WHEREAS, the Phase III Agreement provides the Phase III Developer with the exclusive right (“Development Rights”) to propose development plans for the Phase III Property for a period of three years from the effective date of the Phase III Agreement, which period expired on November 19, 2015; and

WHEREAS, by Resolution No. 15-1978 the HRA Board of Commissioners approved a first amendment (“First Amendment”) to the Phase III Development Agreement, for the purpose of extending for six months until May 19, 2016, the Phase III Developer’s Development Rights and the Resolution included additional specific requirements for a development proposal for the Phase III Property, and

WHEREAS, by Resolution No. 16-970 the Board of Commissioners approved a second amendment (“Second Amendment”) to the Phase III Development Agreement, for the purpose of extending until March 30, 2017 the Phase III Developer’s Development Rights and the Resolution included additional specific requirements for a development proposal for the Phase III Property

WHEREAS, the Phase III Developer has requested a further extension until December 31, 2017 of the Development Rights in order to obtain financing and other approvals for the Phase III Property, and staff is recommending approval of such extension on the terms and conditions set forth in a third amendment (“Third Amendment”) to the Phase III Development Agreement, and based on the Phase ...

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