HomeMy WebLinkAbout2022-137 (Terminating & Cancelling the Original Development Agreement, Tax Abatement Agreement & Assessment Agreement with Central Commons & Approving a New Development Agreement, Tax Abatement Agreement and Assessment Agreement with Central CCity of Stillwater
Washington County, Minnesota
RESOLUTION 2022-137
A RESOLUTION TERMINATING AND CANCELLING THE
ORIGINAL DEVELOPMENT AGREEMENT, TAX ABATEMENT AGREEMENT AND
ASSESSMENT AGREEMENT WITH CENTRAL COMMONS, LLC AND APPROVING A
NEW DEVELOPMENT AGREEMENT, TAX ABATEMENT AGREEMENT AND
ASSESSMENT AGREEMENT WITH CENTRAL COMMONS, LLC
WHEREAS, on June 15, 2021, the City of Stillwater ("City") approved a Development
Agreement, Tax Abatement Agreement and Assessment Agreement ("Original Agreements")
with Central Commons, LLC ("Developer") for the purpose of the development of a mixed use
commercial and residential project and other related improvements; and
WHEREAS, the Original Agreements have not yet been recorded; and
WHEREAS, the City and Developer have both requested certain changes to the
Original Agreements regarding construction deadlines and recording dates; and
WHEREAS, neither the City nor the Developer objects to the requests; and
WHEREAS, the parties mutually desire to terminate and cancel the Original
Agreements and enter into a new Development Agreement, Tax Abatement Agreement and
Assessment Agreement between the City and the Developer.
NOW, THEREFORE, be it resolved that the City Council of the City of Stillwater does
hereby authorize as follows:
1. The Original Agreements are hereby terminated and canceled; and
2. No additional public hearing for the Tax Abatement Agreement is required as
neither the Developer nor the Project has changed from the original Tax
Abatement Agreement; and
3. The new Development Agreement, Tax Abatement Agreement and
Assessment Agreement with Central Commons, LLC are hereby approved,
subject to minor modification as approved by the City Attorney, and the
appropriate officials are authorized to take such action as to effectuate its
execution and implementation.
Adopted by the Stillwater City Council this 18th day of October, 2022.
CITY OF STILLWATER
Ted Kozlowski, Mayor
ATT
Beth Wolf, City Cler