BILL NO 5231 Emergency Measure (As Amended) ORDINANCE NO

bill no. 5231 emergency measure (as amended) ordinance no. 5089 =============================================================== an ordinance

BILL NO. 5231 Emergency Measure (As amended) ORDINANCE NO. 5089
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AN ORDINANCE OF THE CITY OF RICHMOND HEIGHTS, MISSOURI APPROVING A
SIXTH AMENDMENT TO REDEVELOPMENT AGREEMENT BY AND BETWEEN
MICHELSON-HADLEY HEIGHTS DEVELOPMENT, L.L.C. AND THE CITY OF RICHMOND
HEIGHTS, MISSOURI, FOR THE HADLEY TOWNSHIP REDEVELOPMENT AREA AS AN
EMERGENCY MEASURE.
________________________________________________________________________
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF RICHMOND HEIGHTS,
MISSOURI, AS FOLLOWS:
SECTION 1. The Sixth Amendment to Redevelopment Agreement attached
hereto as Exhibit “A” is approved and the Mayor and Clerk of the City
of Richmond Heights, Missouri are hereby authorized and directed to
sign and attest to same on behalf of the City of Richmond Heights.
SECTION 2. The Amendment authorized for execution and attestation
shall be in substantially the form and contain the words and figures
as per Exhibit “A” which is attached hereto and made a part of this
Ordinance as if fully set out herein.
SECTION 3. This Ordinance shall take effect and be in full force
immediately fol­lowing its passage and being signed as provided by
law. This ordinance is deemed an emergency measure necessary for the
immediate preservation of the public peace, health or safety of its
residents because it is needed to allow purchase of residences from
property owners who desire to move elsewhere and have commitments for
other properties.
PASSED and SIGNED this 29th day of October, 2008.
JAMES J. BECK
MAYOR
ATTEST:
PATRICIA S. VILLMER
CITY CLERK
APPROVED AS TO FORM:
_______________________________
KENNETH J. HEINZ
CITY ATTORNEY
First reading: October 29, 2008 EM
Second reading: October 29, 2008 EM
EXHIBIT A
[Sixth Amendment to Redevelopment Agreement]
Exhibit A
SIXTH AMENDMENT TO REDEVELOPMENT AGREEMENT
THIS SIXTH AMENDMENT TO REDEVELOPMENT AGREEMENT (this “Sixth
Amendment”) is entered into as of the 29th day of October, 2008 (the
“Effective Date”), by and between the CITY OF RICHMOND HEIGHTS,
MISSOURI, an incorporated political subdivision of the State of
Missouri (the “City”), and MICHELSON-HADLEY HEIGHTS DEVELOPMENT, LLC,
a Missouri limited liability company (the “Developer”). (Words and
phrases having a defined meaning in the herein-defined Agreement shall
have the same respective meanings when used herein unless otherwise
expressly stated herein.)
1. Section 3.1.5 is hereby amended by:
Deleting paragraph (a) and replacing it with the following:
(a) No later than December 29, 2008, the Developer will provide notice
to all owners of Owner Occupied Property and to all owners of Property
within the Residential Phase (excluding properties subject to
condemnation proceedings) that the Developer either (i) intends to
close on such Properties between November 28, 2008 and December 29,
2008, inclusive (provided that an owner of such a Property may request
the closing be delayed until no later than January 15, 2009), or (ii)
terminate the Redevelopment Agreement.
Subsections (1) through (4) remain unchanged.
2. Section 3.5.1 is hereby amended by deleting the first Activity of
the Construction Schedule therein and replacing it with the following:
Activity
Maximum Time
for Performance
(Absent Force Majeure)
Maximum Time
for Performance
(With Force Majeure)
Submit Notice of Acquisition
(all Property described in Section 3.1.5)
December 1, 2007
December 29, 2008
Except as previously modified hereby, all other terms and conditions
of the Agreement shall remain in full force and effect.
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This Sixth Amendment may be executed in counterparts, each of which
shall constitute an original. The parties may sign this Sixth
Amendment by facsimile copies, and any such facsimile copy shall be
deemed to be an original, and no objections shall be made to the
introduction into evidence of any telefaxed copy on grounds related to
the telefaxed copy not being an original.
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* * *
IN WITNESS WHEREOF, the parties hereto have executed this Sixth
Amendment as of the day and year first above written.
CITY OF RICHMOND HEIGHTS, MISSOURI
By: ___________________________________
James J. Beck, Mayor
(SEAL)
Attest:
________________________________
Patricia S. Villmer, Deputy City Clerk
IN WITNESS WHEREOF, the parties hereto have executed this Sixth
Amendment as of the day and year first above written.
MICHELSON-HADLEY HEIGHTS DEVELOPMENT, LLC
By: Michelson Commercial Realty and
Development, L.L.C., its manager
By: _____________________________________
Timothy L. Berry, Executive Vice President