Title
RESOLUTION AUTHORIZING A FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT WITH THE DULUTH ECONOMIC DEVELOPMENT AUTHORITY REGARDING THE CONVEYANCE OF CERTAIN REAL PROPERTY IN THE LESTER PARK NEIGHBORHOOD.
Body
CITY PROPOSAL:
WHEREAS, Resolution No. 21-0988 authorized the proper city officials to enter into a development agreement (the "Development Agreement") with the Duluth Economic Development Authority, an economic development authority under Minnesota Statutes Chapter 469 ("DEDA") to set forth and formalize the terms, conditions, and goals for the public sale and development of certain real property.
WHEREAS, the Development Agreement was registered in the Office of the St. Louis County Registrar of Titles on February 15, 2022 as Document No. 1053373.
WHEREAS, the City and DEDA desire to amend the Development Agreement with a First Amendment to amend and restate the legal description attached as Exhibit A to the Development Agreement.
NOW, THEREFORE, BE IT RESOLVED, that the proper city officials are hereby authorized to execute a first amendment to development agreement, substantially the same as the agreement attached as Exhibit 1, with DEDA regarding the public sale and development of the real property legally described on Exhibit A attached to Exhibit 1.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes a first amendment to the development agreement with the Duluth Economic Development Authority, an economic development authority under Minnesota Statutes Chapter 469 ("DEDA") for the public sale and development of approximately 37 acres of park property located within Lester Park Golf Course (the "Property").
Through the Resolution of Intent to Convey passed on November 22, 2021 ("Resolution No. 21-0888"), the City Council stated certain objectives relating to the public sale and development of the Property, including but not limited to new housing opportunities and dedication of sale proceeds to E...
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