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RESOLUTION AUTHORIZING FIFTH AMENDMENT TO DEVELOPMENT AGREEMENT WITH THE MERGE LLC FOR THE DEVELOPMENT OF THE URBANE DULUTH PROJECT TO UPDATE THE PROJECT SITE'S PROPERTY DESCRIPTION
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WHEREAS, on August 9, 2022, the Duluth Economic Development Authority ("DEDA") entered into a Development Agreement bearing DEDA Contract No. 21 860 121 (the "Development Agreement") with Merge, LLC ("Developer") for redevelopment of property located at the corner of West Superior Street and 20th Avenue West in Duluth, Minnesota into a multi-family residential facility with apartment units and commercial space for lease (the "Project"); and
WHEREAS, on June 17, 2022, DEDA and Developer amended and supplemented the Original Development Agreement by entering into a Development Agreement Supplement bearing DEDA Contract No. 21 860 121(1) (the "Development Agreement Supplement"), which was recorded in the Office of St. Louis County Registrar of Titles on October 13, 2022, as Document No. 1062400; and
WHEREAS, on December 8, 2022, DEDA and Developer amended the Original Development Agreement, as amended and supplemented by the Development Agreement Supplement, by entering into a Second Amendment to Development Agreement bearing DEDA Contract No. 21 860 121(2) (the "Second Amendment"), which was recorded in the Office of St. Louis County Registrar of Titles on January 17, 2023, as Document No. 1065328; and
WHEREAS, on December 8, 2022, DEDA and Developer amended the Original Development Agreement, as amended and supplemented by the Development Agreement Supplement and the Second Amendment by entering into a Third Amendment to Development Agreement bearing DEDA Contract No. 21 860 121(3) (the "Third Amendment"), which was recorded in the Office of St. Louis County Registrar of Titles on January 17, 2023, as Document No. 1065331; and
WHEREAS, on January ____, 2024, DEDA and Developer amended the Original Development Agreement, as amended and s...
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