Item Description:
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Neg Assignment, Assumption and Amd 1 to Agmt PR00004845, approving the transfer of ownership of property to NorthView LLC, extend term to 12/31/78, increase the NTE; terminate and forgive Agmts A021091, A080507, and A120639 with Beacon Interfaith Housing Collaborative
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Resolution:
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BE IT RESOLVED, that the Executive Director be authorized to negotiate the Assignment and Assumption of Agreement PR00004845 (Resolution 22-HCHRA-0048), and related documents, allowing transfer of ownership of 2216 and 2220 Clinton Avenue South in Minneapolis, from North Haven LLC to NorthView LLC; that following review and approval by the County Attorney's Office, the Chair be authorized to sign the Assignment and Assumption Agreement and other related documents on behalf of the Authority; and
BE IT FURTHER RESOLVED, that the Executive Director be authorized to negotiate Amendment 1 to Agreement PR00004845 with NorthView LLC, or an affiliated entity, modifying agreement terms as necessary to recognize a change in property ownership as described herein, adding properties at 3146 Cedar Avenue South and 3806-3816 Third Avenue South in Minneapolis, extending the contract period end date from December 31, 2053 to December 31, 2078, and capitalizing the accrued interest for a new not to exceed amount of approximately $309,000; that following review and approval by the County Attorney's Office, the Chair be authorized to sign the amendment and related documents on behalf of the Authority; and
BE IT FURTHER RESOLVED, that the Executive Director be authorized to terminate Agreement A021091 with FMF 38th Street Development LLLP, for 3806-3816 Third Avenue South in Minneapolis, and to forgive the principal loan amount of $118,500 and accrued interest for a combined total of approximately $146,397; that the Chair be authorized to negotiate and sign any related documents to effectuate loan termination and release of the declaration on behalf of the Authority; a...
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