Title
Resolution approving fifth amendment to the West Side Flats Phase III development agreement with 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; and
WHEREAS, by Resolution No. 17-474 the Board of Commissioners approved a third amendment (“Third Amendment”) to the Phase III Development Agreement, for the purpose of extending until December 31, 2017 the Phase III Developer’s Development Rights and the Resolution included additional specific requirements for a development proposal for the Phase III Property; a...
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