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<br />-... <br />"" -- ',,~ <br /> <br />RESOLUTION NO. RQ-Rl <br /> <br />RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION <br />OF A SECOND AMENDMENT TO CONTRACT FOR PRIVATE DEVELOPMENT <br /> <br />IT IS HEREBY RESOLVED by the City Council of the City of <br />New Brighton, Minnesota, as follows: <br /> <br />1. Reci tals. <br /> <br />(a) The City and CBA Residential Development, <br />Ltd., a Minnesota corporation (the "Company"), entered <br />into a certain Contract for Private Development, dated <br />as January 27, 1988 (the "Development Agreement"), <br />providing for the construction by the Company of a <br />certain townhome project in the City. <br /> <br />(b) In December of 1988 the City entered into <br />an amendment of the Development Agreement (the "First <br />Amendment") extending certain dates for the purchase <br />of Development Property by the Company and the <br />commencement and completion of the first three townhome <br />units of the project. <br /> <br />(c) There has been presented to the Council <br />=or its co~sideration a certai4 Second Amendment to <br />Contract for Private Development (the "Second <br />Amendment") which would provide further amendments <br />to the Development Agreement, as amended by the First <br />Amendment. <br /> <br />2. Approval of Second Amendment. The Council hereby <br />approves the Second Amendment and authorizes the Mayor and the <br />Ci ty Manager, on behalf of the City, to execute the same at <br />such time, if any, as they may deem appropriate, substantially <br />in the form presented to the Council on this date, but with <br />such modifications thereof as they may deem appropriate, as <br />evidenced by their execution thereof. <br /> <br />Adopted by the New Brighton City Council this 13th day <br />of June, 1989. <br /> <br />_.~-,'- - - <br /> <br /> <br />ATTES T: <br /> <br />~O\.~ <br /> <br />David Childs, City Manager <br /> <br />~\W{~~~ <br /> <br />Margaret Egan, Finance Director <br />