HomeMy WebLinkAboutResolution No. 2014-075 MN DEED Grant Pentagon Park South o� e
RESOLUTION NO. 2014-75
AUTHORIZING MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC
DEVELOPMENT GRANT APPLICATION FOR PENTAGON PARK SOUTH
BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as follows:
WHEREAS, the City of Edina is a statutory city eligible to apply for grant funding; and
WHEREAS, the State of Minnesota Department of Employment and Economic Development is
soliciting requests for grant applications to further redevelopment and employment goals; and
WHEREAS, the City of Edina has identified Pentagon Park South as a project that satisfies the
Redevelopment Grant purpose and criteria; and
• WHEREAS, the Pentagon Park South site suffers from a lack of investment by previous ownership
and an exceptionally high vacancy rate; and
WHEREAS, it is apparent that the property's condition and value will continue to decline until it is
properly repositioned and that the site appears unable to be returned to a highest and best use without
grant assistance; and
WHEREAS, the City of Edina, the Edina Housing and Redevelopment Authority and Pentagon
Revival, LLC have entered into a Redevelopment Agreement dated May 20, 2014 whereby the City and
Authority have agreed to issue TIF Notes to provide gap financing for certain eligible expenses necessary to
return the site to productive use.
BE IT RESOLVED that the City of Edina act as the legal sponsor for project contained in the
Redevelopment Grant Program to be submitted on August I, 2014 and that Mayor James B. Hovland is
hereby authorized to apply to the Department of Employment and Economic Development for funding of
this project on behalf of the City of Edina.
BE IT FURTHER RESOLVED that the City of Edina has the legal authority to apply for financial
assistance, and the institutional, managerial, and financial capability to ensure adequate project
administration.
BE IT FURTHER RESOLVED that the sources and amounts of the local match identified in the
application are committed to the project per the terms of the May 20, 2014 Redevelopment Agreement.
•
CITY OF EDINA
4801 West 50th Street•Edina,Minnesota 55424
www.EdinaMN.gov•952-927-8861 •Fax 952-826-0390
BE IT FURTHER RESOLVED that if the Pentagon Park South project fails to substantially provide the
public benefits listed in the application within five years from the date of the grant award, the City of Edina
may be required to repay 100 percent of the awarded grant per Minn. Stat. 1 16J.575 Subd.4.
BE IT FURTHER RESOLVED that the City of Edina has not violated any Federal, State or local laws
pertaining to fraud, bribery, graft, kickbacks, collusion, conflict of interest or other unlawful or corrupt
practice.
BE IT FURTHER RESOLVED that upon approval of its application by the state, the City of Edina may
enter into an agreement with the State of Minnesota for the above referenced project(s), and that the City
of Edina certifies that it will comply with all applicable laws and regulation as stated in all contract
agreements.
NOW, THEREFORE BE IT FINALLY RESOLVED that the Mayor and the City Manager are hereby
authorized to execute such agreements as are necessary to implement the roject on behalf of the applicant.
Adopted by the Edina City Council this I st day of July, 2014.
Attest:
Debra A. Mangen, City Clerk James B. Hovland, Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN ) SS
CITY OF EDINA ) CERTIFICATE OF CITY CLERK
1, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the attached and
foregoing City Council Minutes is a true and correct copy of the Resolution duly adopted by the Edina City Council at
its regular meeting of July I, 2014, and as recorded in the Minutes of said regular meeting.
WITNESS, my hand and seal of said City this day of 2014.
Debra A.Manger,City Clerk