Item Description:
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Neg Assignment, Assumption and Amd 1 to Agmt A15931, approving the transfer of ownership of property to Bickham Court Limited Partnership, extend term to 12/31/80, incr NTE to $710,000; terminate Agmt A081848
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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 A15931, and related documents, allowing transfer of ownership of 2759/2765 Louisiana Court in St. Louis Park, from Trellis Louisiana Court Acquisition LLC to Bickham Court Limited Partnership, or an affiliated entity; 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 A15931 with Bickham Court Limited Partnership, or affiliated entity, for supportive housing at 2759/2765 Louisiana Court in St. Louis Park (Resolution 12-HCHRA-00R1), to add adjacent properties including 2760, 2768, and 2753 Louisiana Court in St. Louis Park, under one consolidated agreement; extending the contract period end date from December 27, 2031 to December 31, 2080; increasing the not to exceed amount from $450,000 to $710,000 (consistent with the sum of consolidated agreements); extending, amending, and restating documents as necessary; 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 that the controller by authorized to disburse funds as directed; and
BE IT FURTHER RESOLVED, that the Executive Director be authorized to terminate Agreement A081848 with Trellis Co., or affiliated entity, and related documents, after the properties subject to Agreement A081848 are added to Agreement A15931, as authorized above.
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Background:
Bickham Court, formerly known...
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