Title
RESOLUTION AUTHORIZING AGREEMENTS WITH VARIOUS PARTIES AND APPROVING VARIOUS AGREEMENTS PERTAINING TO THE DEVELOPMENT OF THE NORSHOR THEATRE PROJECT.
Body
CITY PROPOSAL:
RESOLVED, that the below-listed agreements with the respective parties as approved by the Duluth Economic Development Authority at its meeting of April 6, 2016 are hereby approved:
1. Development Agreement-NorShor NorShor Theatre LLC
Theatre Project Sherman Associates, Inc.
Sherman Associates Development LLC
Duluth Playhouse, Incorporated
2. Guaranty Agreement Sherman Associates Inc.
DEDA
3. Playhouse Loan Agreement Duluth Playhouse Incorporated.
DEDA
4. Conditional Sub-Grant Agreement Duluth Playhouse Incorporated.
NorShor Theatre LLC.
5. Bus Shelter Bill of Sale DEDA to NorShor Theatre LLC.
6. TIF Payment Agreement Sherman Associates Inc.
NorShor Theatre LLC
Duluth Playhouse, Incorporated.
7. Agreement Pertaining to Temporary NorShor Theatre LLC. to DEDA
And Permanent Easement
Pertaining to Temple Opera
Building
FURTHER RESOLVED, that the proper city officials are hereby authorized to enter into the following agreements in substantially the form of those attached hereto with the parties specified appurtenant thereto in connection with the extension of the Downtown Skywalk System in through the NorShor Theatre Property and the adjacent Greysolon Plaza Property.
1. Pedestrian Passageway Agreement NorShor Theatre LLC.
Pertaining to the NorShor Theatre
2. First Amendment to Amended and Greysolon Apartments Limited
Restated Pedestrian Passageway Partnership
Agreement Pertaining to the
Greysolon Plaza
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to approve the agreements necessary for the implementation of the NorShor Theatre Project.