Item Description:
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Neg Amd 4 to Agmts PR00002919 and PR00002920 with Tacoma Creek Hospitality
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Resolution:
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BE IT RESOLVED, that the Executive Director be authorized to negotiate Amendment 4 to Agreements PR00002919 with Tacoma Creek Hospitality, or affiliated entity, for services to the properties located at 5637 Lyndale Avenue S, Minneapolis and 5739 Lyndale Ave S, Minneapolis, increasing the not to exceed amount by $65,650 for a new not to exceed amount of $1,065,650, and PR00002920 with Tacoma Creek Hospitality, or affiliated entity, for services to the property located at 925 4th Street SE, Minneapolis, decreasing the not to exceed amount by $38,790 for a new not to exceed amount of $922,710, to provide property management, operation and maintenance for Hennepin County Housing and Redevelopment Authority owned properties, extending the contract period from June 30, 2022 to July 31, 2024; that following review and approval by the County Attorney's Office, the Chair of the Board be authorized to sign the amendments on behalf of the Authority; and that the Controller be authorized to disburse funds as directed.
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Background:
Since December 2020, the Hennepin County Housing and Redevelopment Authority (HCHRA) has contracted with Tacoma Creek Hospitality to provide property management, operation and maintenance services at the University Inn and the Metro Inn Motel (Agreements PR00002919 and PR00002920). The HCHRA later amended these agreements to extend the time period for property management services and to add the Aqua City Motel to Agreement PR00002919, and the Federal Plaza to Agreement PR00002920 (Resolution 22-HCHRA-0038).
Amendment 4 to Agreements PR00002919 and PR00002920 will withdraw the Federal Plaza from PR00002920, extend property management services at the remaining three properties through July 31, 2024, and increase the total combined not to exceed amount by $26,860 for a new total combined not to exceed amount of $1,988,360...
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