Agenda - HRAMARCH APRIL
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HOPKINS HRA REGULAR MEETING
March 4, 2008
7:20 p.m.
I. CALL TO ORDER
II. OPEN AGENDA - PUBLIC CONSr~NTS
MAXWELL
BRAUSEN
HALVERSON
ROWAN
YOUAKIM
GETSCHOW
ELVERUM
(Public must fill out a Speaker Request form. There is a three-
minute limit for each person.)
III. CONSENT AGENDA
1. Approve minutes of the February 4, 2008, regular meeting
2. Approve disbursements through February 29, 2008
Recommendation: approve consent agenda
Board Action:
Iv. NEw BUSINESs
1. HRA Report 2008-03 Approve assignment of contract for
Redevelopment - Block 64
Recommendation: approve assignment of contract
Board Action:
V . ADJOURNMENT
Board Action:
UNOFFICIAL
MINUTES OF REGULAR HOPKINS HRA MEETING
February 4, 2008
A regular meeting of the ,Hopkins Housing and Redevelopment
Authority was held February 4, 2008, at Hopkins City Hall. Present
were Chairman Eugene Maxwell, Commissioners Rick Brausen, Kristi
Halverson, Bruce Rowan and Cheryl Youakim. Also present were
Executive Director Rick Getschow, Assistant Executive Director
Kersten Elverum, and City Attorney Wynn Curtiss.
I. CALL TO ORDER
The meeting was called to order at 7:25 p.m.
II. OPEN AGENDA - PUBLIC COMMENTS
No one from the public came forward to speak.
III. CONSENT AGENDA
1. Approve minutes of the January 2, 2008, regular meeting
2. Approve disbursements through January 31, 2008
Commissioner Rowan moved, Commissioner Brausen seconded, to
approve the consent agenda. The motion was approved unanimously.
I V . ADJOURNMENT
Commissioner Youakim moved, Commissioner Rowan seconded, to
adjourn the meeting. The motion was approved unanimously. The
meeting adjourned at 7:27 p.m.
Eugene J. Maxwell, Chairman
Richard B. Getschow, Executive Director
2/19/2008 10:50 AM A / P CHECK REGISTER
PACKET: 00597 HRA 2-19-08
VENDOR SET: O1
BANK HRA HRA WELLS FARGO
CHECK CHECK
VENDOR NAME / I.D. DESC TYPE DATE
27469 ABSOLUTE COMMERCIAL FLOORING R 2/19/2008 .
03165 CENTERPOINT ENERGY R 2/19/2008
27274 CITY OF HOPKINS R 2/14/2008
27200 HD SUPPLY FACILITIES MAINTENANCE R 2/19/2008
26903 JESUS HERNANDEZ R 2/19/2008
13172 METRO ELEVATOR, INC R 2/14/2008
13336 MIDWEST MAINTENANCE & MECHANICAL INC R 2/19/2008
14040 C. NABER & ASSOCIATES R 2/19/2008
19160 NEXTEL COMMUNICATIONS R 2/14/2008
26965 OCE IMAGISTICS INC R 2/19/2008
16953 PLUNKETTS R 2/19/2008
17806 QWEST R 2/19/2008
18817 RUTLEDGE CONSTRUCTION CO R 2/14/2008
19602 SPS COMPANIES INC R 2/14/2008
22000 VAIL PLACE R 2/19/2008
23008 WASTE MANAGEMENT - SAVAGE R 2/14/2008
25060 XCEL ENERGY R 2/19/2008
DISCOUNT AMOUNT
PAGE: 1
CHECK CHECK
NO# AMOUNT
011137 11,697.60
011138 44.00
011139 2,833.90
011140 299.56
011141 300.00
011192 320.00
011193 50.00
011199 190.00
011145 59.80
011196 99.81
011197 263.59
011198 64.00
011149 76,582.80
011150 192.12
011151 10,500.86
011152 519.21
011153 2,910.20
* * T 0 T A L S * * NO# DISCOUNTS CHECK AMT TOTAL APPLIED
REGULAR CHECKS: 17 0.00 106,916.95 106,916.95
HANDWRITTEN CHECKS: 0 0.00 0.00 0.00
PRE-WRITE CHECKS: 0 0.00 0.00 0.00
DRAFTS: 0 0.00 0.00 0.00
VOID CHECKS: 0 0.00 0.00 0.00
NON CHECKS: 0 0.00 0.00 0.00
CORRECTIONS: 0 0.00 0.00 O.b0
REGISTER TOTALS: 17 0.00 106,916.95 106,916.95
TOTAL ERRORS: 0
2/19/2008 10:50 AM A/ P CHECK REGISTER PAGE: 2
PACKET: 00597 HRA 2-14-08
VENDOR SET: O1
BANK . HRA HRA WELLS FARGO
CHECK CHECK CHECK CHECK •
VENDOR NAME / I.D. DESC TYPE DATE DISCOUNT AMO�NT NO# AMOUNT
** POSTTNG PERIOD RECAP **
EUND PERIOD AMOUNT
------------------------------------------
001 2/2008 106,916.95CR
ALL 106,916.95CR
• .
•
G~TY OF
h`OPKINS
February 28, 2008 HRA Report 2008-03
ASSIGNMENT OF CONTRACT FOR PRIVATE REDEVELOPMENT -
BLOCK 64
Proposed Action
Staff recommends adoption of the following motion: Move to approve the
assignment of Contract for Private Redevelopment between GPS Development
LLC and Doran-Pratt Development, LLC.
With this motion the development rights for Block 64 will be assigned to Doran-
Pratt Development.
Overview
In July of 2005 the HRA entered into a Contract for Private Redevelopment with
GPS Development, LLC for the purposes of redeveloping Block 64. That
contract was later amended. In August 2007 it became clear that GPS
Development would be unable to move forward with the proposed project and
HRA staff began discussions with several developers including Doran-Pratt
Development. Those discussions have led to a proposed project.
A third amended and restated contract for private redevelopment between the
HRA and Doran-Pratt was approved by the HRA but it can not be executed until
the development rights under the agreement are assigned and approved by the
HRA.
Primary Issues to Consider
• What is the impact of this action?
Supporting Documents
• ~ss~mer~0#-~or~ct for Private Redevelopment
Diregfor of Planning & Development
Financial Impact: $ 0 Budgeted:
Related Documents (CIP, ERP, etc.):
Notes:
Y/N Source:
Analysis of Issues:
• What is the impact of this action?
This action will allow the HRA to continue working with Doran-Pratt Development
on the redevelopment of the site, while severing ties with GPS Development.
GPS is in default under the agreement and is delinquent in their reimbursement
of HRA/City costs. This action will make it more difficult to collect money owed,
however, it does not seem likely that collection would take place in any event.
Alternatives
The HRA has the following alternatives regarding this item:
• Approve the assignment as recommended.
• Deny the request to assign the contract.
ASSIGNMENT OF CONTRACT
FOR PRIVATE Rh;I)E~'h[:OI'~~II"~"1'
This Assignment is made and executed effective as of February 12, 2008, by GPS
Development, LLC, a Minnesota limited liability company ("Assignor"), to and in favor of
Doran-Pratt Development, LLC, a Minnesota limited liability company ("Assignee").
BACKGROUND
Assignor and Assignee are parties, together with certain related and affiliated persons and
entities, to a Purchase Agreement dated November 13, 2007 ("Purchase Agreement"}. The
parties have not yet Closed the transactions contemplated under the Purchase Agreement.
Pursuant to the terms of the Purchase Agreement, at the Closing, Assignor has agreed to
assign to Assignee (among other things) any development agreements with the City of Hopkins
(the "City"), any tax increment financing or tax abatement agreements, and other similar
agreements.
Assignor and the Housing and Redevelopment Authority in and for the City of Hopkins,
a body corporate and politic ("Authority") are parties to that certain original Contract for Private
Redevelopment dated July 27, 2005, as amended and restated pursuant to the terms of an
Amended and Restated Contract for Private Redevelopment dated February 7, 2006, and as
further amended and restated pursuant to the terms of a Second Amended and Restated
Agreement for Private Redevelopment dated November 7, 2006 (collectively the
"Redevelopment Contract"), which Redevelopment Contract contemplates the redevelopment of
the property subject to the Purchase Agreement as a mixed-use retail/commercial and residential
redevelopment (the "Project").
In order to satisfy certain conditions under the Purchase Agreement, it 'has become
necessary that the Assignor~immediately assign all of its right, title and interest under and to the
Redevelopment Contract to Assignee, so as to facilitate the execution by Assignee and the
Authority of an amended and restated revised version of the Redevelopment Contract after the
execution, delivery and acceptance of this Assignment.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties agree as follows:
1. Assignment. Assignor hereby assigns, transfers, conveys and sets over to
Assignee any and all right, title and interest held by Assignor in, under or pursuant to the
Redevelopment Contract.
2. Assumption. Assignee hereby accepts the foregoing Assignment, and assumes
and agrees to be bound by the terms of the Redevelopment Contract.
3. Reconveyance. If the Buyer has not commenced construction of the Project on or
before June 30, 2009, then upon written request, Assignee agrees to duly assign, transfer and
convey any and all interest Assignee may then have under the Redevelopment Contract to
Assignor within thirty (30) days after written request from Assignor.
4. Cooperation. Assignor, agrees to cooperate with Assignee in its efforts to
develop the Project and carry out the requirements and objectives of the Redevelopment
Contract, and shall, upon request by Assignee, execute any further assignments, consents,
applications, plats and any other documents required by the City, the Authority or any other
person or entity. In the event Assignor fails to execute any such documents within five (5) days
of Assignee's request therefor, Assignor authorizes Assignee to execute any such documents on
behalf of Assignor as its attorney in fact.
5. Consent by the Authority. As evidenced by its execution appearing below, and
as required by Section 8.1 of the Redevelopment Contract, the Authority has consented to and
approved the Assignment provided herein by Assignor to Assignee.
6. Signatures in Counterparts, By Facsimile or Electronic Transmission. The
undersigned agree that this instrument may be signed in any number of counterparts, each of
which will constitute an original, and that a facsimile copy of any signature, or an electronic pdf
transmission of any signature, of any party, will be deemed as enforceable and effective as an
original signature. All such counterparts together will constitute one and the same instrument.
1N WITNESS WHEREOF, the parties have mutually agreed to the foregoing Assignment
as of the day and year first indicated above.
ASSIGNOR:
GPS DEVELOPMENT, LLC,
a Minnesota limited liability company
By:
,..
e
Its: CEO
ASSIGNEE:
DORAN-PRATT DEVELOPMENT, LLC,
a Minnesota limited liability company
2
CONSENT BY AUTHORITY
The undersigned Housing and Redevelopment Authority in and for the City of Hopkins,
pursuant to Section 8.1 of the Redevelopment Contract, as defined above, hereby consents to the
foregoing Assignment.
HOUSING AND REDEVELOPMENT
AUTHORITY 1N AND FOR ,
THE CITY OF HOPKINS
By:
Its:
And By:
Its:
709910.2