Resolution 14-HCHRA-0043 authorized acceptance of Hennepin County capital funding and various agreements for the acquisition and development of property located at the southwest corner of East Lake Street and Hiawatha Avenue in Minneapolis (Project). The Project included construction of the South Minneapolis Regional Human Services Center, a public plaza, and four phases of multifamily housing.

Redevelopment Agreement A142164(A) with L&H Station Development L.L.C. (L&H) detailed certain rights and obligations associated with the Project, including assigning rights to L&H to develop the four phases of multifamily housing. L&H has completed the first two phases of multifamily housing. The remaining two phases are currently in the pre-development stage. The Hennepin County Housing and Redevelopment Authority (HCHRA) and L&H are parties to several reciprocal easement and parking agreements which outline shared use, access, and maintenance rights and responsibilities for the components of the Project.

The title registration process for the Project was recently completed, which has created new legal descriptions for the real estate parcels associated with the Project. Additionally, L&H, through its affiliated ownership entities, seeks to refinance the existing debt on the two completed multifamily housing phases. As result, amendments to the existing reciprocal easement and parking agreements between the HCHRA and L&H are necessary. The amendments will update property legal descriptions, provide notice and cure rights for L&H’s mortgage lender, clarify terms, and correct minor errors and omissions in the original agreements.

Current Request: Authorize the negotiation and execution of amendments to Easement and Parking Agreements related to Agreement A142164(A) with L&H Station Development L.L.C. for the Lake and Hiawatha Redevelopment Project.

Impact/Outcomes: This action will facilitate the ongoing use, operation, and maintenance of public and private components of the Lake and Hiawatha Redevelopment Project.