032706 EDA
- Official File Copy -
CITY OF NEW HOPE
EDA MEETING
City Hall, 4401 Xylon Avenue North
March 27, 2006
EDA Meeting will commence upon
adjournment of the City Council Meeting
President Martin Opem Sr.
Commissioner Mary Gwin-Lenth
Commissioner Andy Hoffe
Commissioner Karen Nolte
Commissioner Steve Sommer
1. Call to order
2. Roll call
3. Approval of regular n1eeting minutes of January 9, 2006
4. Resolution authorizing the extension of the interim agreement with PariPassu/Trio
Development for the redevelopment of the Bass Lake Road Apartments site (8400
and 8420 Bass Lake Road and 8401, 8411, and 842158th Avenue) (improvement
project no. 795)
5. Adjournment
CITY OF NEW HOPE
4401 XYLON i-\ VENUE NORTH
NEW HOPE, MINNESOTA 55428
EDA Minutes January 9, 2006
Regular Meeting City Hall
CALL TO ORDER President Opeffi called the meeting of the Economic Development Authority
to order at 9:06 p.m.
ROLL CALL Present: Martin Opeffi Sr., President
Mary Gwin-Lenth, Commissioner
Andy Hoffe, Commissioner
Karen Nolte, Commissioner
Steve Sommer, Commissioner
Staff Present: Dan Donahue, City Manager
Shari French, Director of Parks & Recreation
Kim Green, Community Development Assistant
Curtis Jacobsen, Community Development Specialist
Guy Jolmson, Director of Public Works
Valerie Leone, City Clerk
Kirk McDonald, Director of Community Development
Steve Sondrall, City Attorney
Vince VanderTop, Assistant City Engineer
APPROVE MINUTES Motion was made by Commissioner Nolte, seconded by President Opern, to
approve the Regular Meeting Minutes of November 28, 2005. All present
voted in favor. Motion carried.
IMP. PROJECT 795 President Opern introduced for discussiol1 Item 4, Resolution authorizing an
Item 4 interim agreement with PariPassu/Trio Development for the Bass Lake Road
Apartments redevelopment project (8400 and 8420 Bass Lake Road and 8401,
8411, and 842158th Avenue) (improvement project no. 795).
Mr. Kirk McDonald, director of community development, stated the interim
agreement was previously presented to the city council at its work session of
December 19, 2005, at which time the Council supported and tentatively
approved the cost sharing agreement but requested more specific information
about the cost of Krass Monroe's services. He reported that Krass Momoe has
re-evaluated their original estimate of $10,000 to $20,000 and revised it to an
estimate of $15,000. He outlined the 50/50 cost sharing arrangement and noted
the soil boring cost has increased from $3,200 to $3,500 as the developer had
determined that a boring of a greater depth was needed on tl1e northern
portion of the site. Other costs include phase I environmental assessment for
$1,700, structural/TIP blight analysis for $9,000, boundary and topographical
survey and golf course topo survey $5,000. The city and the developer will
each pay its o\vn consulting fees with the exception of the 50/50 cost sharing
EDA Meeting January 9,2006
Page 1
arrangements for the financial consultant (Krass NIonroe).
Mr. McDonald reported that the soil borings, environmental assessment,
structural analysis and site survey were in process.
Mr. McDonald stated the interim agreement contains four main parts: Part 1
describes the interim nature of the agreement; Part 2 identifies the
undertakings of the redeveloper and associated completion dates; Part 3
describes the undertakings of the city; and Part 4 describes the redeveloper
deposit and cost sharing approach. It was tentatively agreed betvveen the city
and the redeveloper that the preliminary costs would be shared 50/50. He
stated if additional costs are identified, staff will present the costs to the
Council for approval.
Mr. McDonald reported that planning for the Bass Lake Road improvements
is underway, and the EDA previously authorized a preliminary site survey to
help define the site size and shape. He stated the city engineer will soon be
seeking authorization to conduct a feasibility report for Bass Lake Road
improvements. Mr. McDonald reported that the developer is in attendance
and is prepared to pay the $5,500 fee deposit if the EDA approves the
agreement.
President Opem directed staff to determine the sewer and water main
capacity improvements at the time of the survey.
At Commissioner Sommer's request, staff ,vas directed to add "not to exceed"
to the financial consultant's $15,000 cost estimate. Commissioner Sommer also
asked the minutes to reflect the fact that the city formed a partnership with
the developer, but if t11e project does not materialize the city will own the site
results of the services performed. Mr. McDonald concurred and commented
that this issue is covered in section 5 of the interim agreement.
Mr. McDonald indicated PariPassu has invited the EDA on a tour of condo
buildings on either January 28 or February 4. The intent is to obtain feedback
from the EDA regarding such items as building materials and interior/exterior
finishes before the developer completes an elevation plan for the Bass Lake
Road Apartments redevelopment project. The EDA selected January 28 at 9:00
a.m. for the tour.
Mr. Jonathan Lockart of PariPassu was recognized. He explained it may take
up to an hour pef site so the EDA should expect to spend five to six hours on
the tour. He also assured the EDA that PariPassu is mindful of the financial
consultant costs previously cited.
EDA RESOLUTION Commissioner Gwin-Le11th introduced the following resolution and moved
06-01 its adoption: JlRESOLUTION AUTHORIZING AN INTERIM
Item 4 AGREEMENT WITH P ARIP ASSU/TRIO DEVELOPMENT FOR THE BASS
LAKE ROAD APARTMENTS REDEVELOPMENT PROJECT (8400 AND
8420 BASS LAKE ROAD AND 8401, 8411, AND 8421 58TH A VENUE)
(IMPROVEMENT PROJECT NO. 795)." The motion for the adoption of the
EDA Meeting January 9, 2006
Page 2
foregoing resolution was seconded by President Opem, and upon vote being
taken thereon, the follo'\'viI1g voted in favor thereof: Open1, G\vin-Lenth,
Hoffe, Sommer, Nolte; and the following voted against the same:; Abstained:
None; Absent: None; whereupon the resolution was declared duly passed and
adopted, signed by t11e president which was attested to by the executive
director.
NORTHWESTERN President Opem introduced for discussion Item 5, Discussion of Northvvestern
CASKET COMPANY Casket Company's request for financial assistance from the city.
Item 5
Mr. Kirk McDonald, director of community development, indicated
Northwestern Casket Company is ill the process of relocating from
Minneapolis to New Hope and is requesting financial assistance towards the
relocation expenses. He explained that past practice has been that all requests
for assistance are presented to the Council or EDA for consideration. The
Council and EDA have provided assistance to businesses in the past on a case-
by-case basis if the use meets city policies. The company is seeking $125,000
for moving expenses and equipping their tenant space at 4300 Quebec Avenue
North. Mr. McDonald explained that staff researched assistance options, but
the state does not provide assistance unless there is an increase in the total
number of jobs (the company has 28 employees which will remain
unchanged). He further explained that New Hope's business subsidy policy's
objective is to attract and enhance commercial and industrial development
hereby increasing or retaining employment opportunities for New Hope
residents and developing the job base and tax base of the city. Mr. McDonald
stated staff is pleased to see a new business in New Hope but does not believe
the request meets the business subsidy policy.
The EDA vvelcomed the business to Nevv Hope but unanimously concluded
that the business does not meet the business subsidy criteria.
Commissioner Nolte commented that the company should experience a
savings in insurance premiums by relocating from Minneapolis to New Hope.
ADJOURNMENT Motion was made by Commissioner Gwin-Lenth, seconded by Commissioner
Nolte, to adjourn the meeting. All present voted in favor. Motion carried.
The New Hope EDA adjourned at 9:30 p.m.
Respectfully submitted,
~~
Valerie Leone
City Clerk
EDA Meeting January 9, 2006
Page 3
EDA
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Request for Action
Originating Department Approved for Agenda Agenda Section
Community Development March 27, 2006 EDA
Item No.
4
By: Kirk McDonald, CD Director By:
Kim Green, CD Assistant
Resolution authorizing the extension of the mterim agreement between the Economic Development Authority
in and for the city of New Hope and PariPassu/Trio Development for the redevelopment of the Bass Lake
Road Apartments site (8400 and 8420 Bass Lake Road and 8401, 8411, and 842158th Avenue) (improvement
project no. 795)
Requested Action
Staff requests that the Economic Development Authority (EDA) approve a resolution authorizing an
extension of the term of the interim agreement vvith the preferred redeveloper for the Bass Lake Road
Aparhnents site, PariPassurrrio Development, from March 28, 2006, to April 30, 2006. All other conditions in
the interim agreement remam unchanged, including how preliminary redevelopment costs and
responsibilities are to be shared between the EDA and the redeveloper.
Policy/Past Practice
Priority goal l1umber two emphasizes the maintenance and redevelopment of commercial and residential
properties. To assist with this goal, the city can select a preferred redeveloper and participates in a
development agreement for the redevelopment of a site in the city.
Background
On November 28, 2005, the EDA approved a resolution for a 120-day exclusive negotiation period with
PariPassufTrio Development for the redevelopment of the Bass Lake Road Apartments site. PariPassufTrio
was one of three development teams that participated in a redeveloper selection process, which began in the
sprmg of 2005. Following a month of discussions, the EDA and the redeveloper entered into an interim
agreement, effective January 9/ 2006, which identifies how the preliminary redevelopment costs and
res 011sibilities are shared betvveen the ci and the redevelo er durin the neaotiation eriod.
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Motion by 7Idi-l:L Second by
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PariPassTrio for BLR project.doc
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Request for ACtiOl1, Page 2 of 3
Nlarc11 27; 2006
The goal of the negotiation period is to determine financial feasibly, prepare a term sheet, and develop a
preliminary concept plan. On February 27, 2006, staff updated the Council on the steps that have been taken
to better understand the site, the estimated redevelopment costs, and the proposed condominium building.
The steps taken to date include:
1. PariPassu obtained additional soil borings from Braun Intertec, which demonstrated the need for the
building to be constructed on about 400 pilings.
2. PariPassu obtained a Phase 1 environmental analysis of the site. The environmental consultant Braun
Intertec, did not discover any indication of potential contamination issues on site; and did not
recommend a phase II analysis.
3. The city obtained a TIP analysis inspection. The inspector from LHB determined that the Bass Lake
Road Aparhnents qualify as blighted and a TIP district can therefore be created for the site.
4. The city engineer conducted a boundary survey of the Bass Lake Road Aparhnents and the western
portion of the city's golf course.
5. The city engineer examined the realignment of Yukon and Xylon avenues and provided preliminary
sketches to show how the roadvvay improvements might impact the redevelopment site and adjacent
properties.
6. PariPassu took the City Council and city staff on a bus toUT of five projects similar to the proposed
condominiums at Village on the Green to get an idea for the type of structure the City Council would
prefer for the site.
7. At the redeveloper's request, city staff, the city attorney, and the redeveloper met with the property
owner's attorney to discuss the potential negotiated acquisition of the apartments.
8. Weis Builders created a preliminary budget estimate proposal for the condominium building based
on SummerCrest of Edinburgh in Brooklyn Park, the first project viewed by the City Conncll during
the bus tour.
9. The city submitted a grant application to Hennepin County's Transit Oriented Development grant
program requesting $375,000 to increase the water main capacity serving the redevelopment site.
Staff, consultants, and the redeveloper have continued to work through the details that will allow the City
Council/EDA to assess the financial feasibility of the project. Krass Monroe, the city's financial consultant, has
prepared a very preliminary term sheet the addresses the major points of negotiation between the city and the
redeveloper. Staff would like to review the financial details of the project and discuss the prelirrUnary term
sheet Witl1 the Council at a special work session, which has been scheduled on Thursday, March 30, 2006, at
6:30 p.m. Following the work session, staff hopes to work with PariPassufTrio to revise the term sheet. If the
negotiations move forward as planned, a term sheet will be presented to the Council for adoption at the April
24 Council meeting. To accommodate this timeline, staff and the redeveloper request that the Connell
authorize an extension of the term of the interim agreement from March 28, 2006, to April 30, 2006.
Funding
The extension of the interim agreement does not require additional funds. The city's share of the prelirrUnary
redevelopment costs, as outlined in the interim agreement approved by the EDA on January 9, 2006, remain
unchanged.
Request for Actia11, Page 3 of 3
~'/larc11 27, 2006
Recommendations/N ext Steps
Staff recommends approval of the attached resolution authorizing the extension of the term of the interim
agreement with PariPassu/Trio Development from March 28, 2006, to April 30, 2006. If negotiations move
forward as anticipated, the following steps will occur:
10. Thursday, March 30, 6:30 p.m. Special City CouncillEDA work session to discuss financial details of
project and review preliminary term sheet. PariPassu/Trio Development and Krass Momoe to attend.
11. March 31 through April 14. Staff, consultants, and redeveloper to continue negotiations. Term sheet
revised/updated.
12. Term sheet presented to EDA at April 24 EDA meeting.
13. April 30. Extended interim agreement expires.
Attachments
1. Resolution
2. First Amendment to Interim Agreement
3. Copy of original interim agreement, effective January 9, 2006
ECONONUCDEVELOPMENTAUTHORITY
IN Al~D FOR THE CITY OF NEW HOPE
COUNTY OF HENNEPIN
STATE OF MINNESOTA
RESOLUTION NO.
A RESOLUTION AUTHORIZING AN EXTENSION OF THE INTERIM
AGREEMENT BETWEEN THE ECONOMIC DEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF NEW HOPE AND
PARIPASSU/TRIO DEVELOPMENT FOR THE REDEVELOPMENT OF
THE BASS LAKE ROAD APARTMENTS SITE
BE IT RESOLVED by the Economic Development Authority in and for the City of New
Hope (the "Authority") as follows:
Section 1. Recitals.
1.01 The Bass Lake Road Apartment site (the "Site") consists of approximately 3.6 acres
of land with five tax parcels at 8400 and 8420 Bass Lake Road and 8401, 8411 and 8421 - 58th
Avenue. The Site currently consists offive 12-unit rental apartment buildi11gs.
1.02 The City plans to redevelop the Site into for-sale multi-family housing.
1.03 Following a request for proposals by the City and consideration of the proposals
received, PariPassulTrio Development (the "Redeveloper") was chosen as the City's tentative
Developer/Builder for the Site.
1.04 On November 28, 2006, the Authority authorized a 120-day exclusive negotiation
period with the Redeveloper to refine the site plan and examine the economic feasibility of
redeveloping the Site.
1.05 Pursuant to that resolution, the AuthoritY and the Redeveloper entered into an futerim
Agreement effective as of January 9, 2006 and expiring March 28, 2006, setting forth responsibilities
and deadlines for each of the parties.
1.06 The Redeveloper has requested that the Interim Agreement be extended for an
additional month so that it may continue to work with the City on project feasibility.
Section 2. Findin2s.
2.01 The Authority hereby finds that the redevelopment of the Site and extension of the
Interim Agreement promotes the objectives outlined in its Restated Redevelopment Plan for
Redevelopment Project No.1 established pursuant to Minnesota Statutes, Section 469.001 et seq.
Section 3. Authorizations.
3.01 The Authority hereby approves execution and delivery of a First Amendment to
Interim Agreement extending the term of the Interim Agreement from March 28, 2006 to April 30,
2006.
3.02 The President and Executive Director are hereby authorized to execute and deliver the
First Amendment in substantially the form presented to the Authority, with such additions and
modifications as those Officers may deem desirable or necessary as evidenced by their execution
thereof.
Adopted by the Authority this 27th day of March, 2006.
Martin Opem Sr., President
ATTEST:
Daniel J. Donahue, Executive Director
G:\WPDATA\N\NEW HOPE\19\DOC\RESOL (EDA) EXTENDING INTERIM AGREE.DOC
FIRST AMENDMENT
TO
INTERIM AGREEMENT
THIS AGREEMENT (the "First Amendment") is entered into effective the _ day of
March, 2006 by and between the Economic Development Authority in and for the City of New
Hope, Minnesota, a Minnesota public body corporate and politic (the "Authority") and PariPassu
Development Corp., a Minnesota corporation (the "the Redeveloper").
WHEREAS, the Authority and the Redeveloper entered into an Interim Agreement dated
effective January 9,2006 (the "Agreement");
WHEREAS, the City and the Redeveloper desire to amend the Agreement to further the
purposes set forth herein.
NOW, THEREFORE, in consideration of the premises and the mutual obligations of the
parties hereto, the parties hereby agree as follows:
The term of the Agreement is extended to April 30, 2006, and the date of April 30, 2006
shall be substituted for the date of March 28, 2006 everyvvhere that the latter date appears in the
Agreement.
IN WITl\TESS WHEREOF, the parties have caused this Agreement to be duly executed in
each of their names as of the date first above wntten.
ECONOMIC DEVELOPMENT AUTHORlTY
IN AND FOR THE CITY OF NEW HOPE, MINNESOTA
By:
President
By:
Executive Director
P ARIP ASSU DEVELOPMENT CORP.
By:
Its:
G:\WPDATA\N\NEW HOPE\19\DOC\FIRST AMENDMENT TO INTERIM AGREE V1.DOC
2
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INTERI1\1 AGREEMENT
This INTERIM AGREEJvIENT entered into effective the 9th day of January, 2006 by and
between the Economic Development Authority in and for the City of New Hope, Minnesota, a
Minnesota public body corporate and politic (the "Authority") and PariPassu Development
Corp., a Minnesota corporation (the ~'the Redeveloper").
WHEREAS, following Boisclair Corporation's withdrawal of its proposal in January
2005, in March 2005 the Authority distributed requests for proposals and.hosted a developers'
roundtable regarding redevelopment of the Bass Lake Road apartments site (the "Project");
WHEREAS, several candidates submitted responses and, over the summer, the
candidates met with City and Authority staff and discussed plans for the Project at the July 18,
2005 City Council meeting;
WHEREAS, several development teams submitted proposals to the City, which were
pr,eseIited to City Council on September 19 and October 10, 2005;
WHEREAS, at its meeting on November 28, 2005, the Authority authorized a four-
month exclusive negotiation period with the Redeveloper to conduct environmental and other
due diligence, determine Proj ect feasibility and develop a preliminary concept plan;
NOW, THEREFORE, in consideration of the premises and mutual obligations of the
parties contained herein, each of them does hereby agree as follows:
1. Interim Nature of Agreement. The Authority and the Redeveloper agree that this
Agreement is intended to be preliminary in nature. Before the Authority and the Redeveloper
can make a decision on whether to proceed with the Project, it will be necessary to assemble and
consider information relating to the economics, site assembly, phasing, environmental
remediation and other aspects of the Project. The purpose of this Agreement is to allow the -
Redeveloper an opportunity to assemble such information, to prepare a preliminary concept plan
and to negotiate with.the Authority concerning the approval of a term sheet (the "Term Sheet")
with a view to eventual exeqution of a contract for private redevelopment (the "Redevelopment
Agreement") which will set forth the rights and responsibilities of the Authority and the
Redeveloper with respect to the Proj ect.
2. Undertakings of the Redeveloper.
(a) By January 31,2006 the Redeveloper will:
~ Conduct a Phase I environmental assessment of the site.
.. Complete any soil borings and other environmental assessment
y
needed to estimate the cost of required environmental remediation
and soil corrections necessary to complete the Proj ect.
(b) From the date hereoftbrough March 28, 2006 the Redevelop~r will:
. In consultation with the Authority, the City and City residents,
develop a preliminary concept plan.
. Work with the Authority's redevelopment consultants to analyze
preliminary economic feasibility.
fit Present monthly progress reports to City Council.
. Negotiate the Term Sheet with the Authority.
3. Undertakings of the Authority.
(a) The Authority agrees to cooperate with the Redeveloper in the
Redeveloper's undertakings, and agrees that during the term of this Agreement the Authority will
not negoti,~.te with any third party in connection with redevelopment of the site.
(b) The Authority will take the following actions:
-.. By January 31, 2006, determine at least on a preliminary basis
whether the blight test for a redevelopment district is likely to be
met.
. By March 28, 2006, determine the Authority's and the City's
willingness to allow a density that maximizes the financial feasibility
of the Project that is consistent with market conditions.
. Through March 28, 2006, negotiate the Term Sheet with the
Redeveloper.
. On an ongoing basis, explore grant opportunities and other funding
sources.
4. Redeveloper Deposit: Cost Sharing.
(a) During the term of this Agreement, the Authority shall pay the fees and
costs of its planning consultants, Northwest Associated Consultants; its engineering consultants,
Bonestroo Rosene Anderlik & Associates; and the City attorney, Jensen & Sondrall, P .A. The
Redeveloper shall pay the fees and costs of its consultants.
I
(b) The Authority and Redeveloper agree to split the following costs equally:
(i) Fees incurred after December 9, 2005. by the Authority's
redevelopment counsel, Krass Momoe, P .A., for financial and
proj ect feasibility analysis, review of blight analysis, review of site
qualification for inclusion in a tax increment district and drafting
and negotiation of a term sheet, and
(ii) Preliminary redevelopment expenses including environmental
analysis, soil borings, blight analysis, boundary survey and other
expenses that the parties agree shall be subj ect to cost sharing.
The projected budget for these costs is as follows:
Description Proj ected Amount
/
Phase I environmental assessment ............................ $ 1,700
." '1 b · 3,500
~ 01 onngs ...............................................................
B ligb. t an.al ysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .~. . . . . . . . . . . . . . . . . . . . 9,000
Boundary and topa survey and golf course
top 0 survey............................................................. 5,000
Fees of Krass Monroe, P.A. ................ not to exceed 15,000
(c) Upon execution of this Agreement, the Redeveloper shall pay a non-
refundable fee of $500.00 to the Authority. The Redeveloper shall also make an initial deposit of
$5,000.00 to be applied by the Authority toward the Redeveloper's share of costs incurred by the
Authority which are subject to this Paragraph 4. The Redeveloper shall replenish this deposit
when the balance falls below $1,000.00 upon r~quest by the Authority. The Authority will
reimburse the Redeveloper for its share of costs incurred by the Redeveloper which are subject to
this Paragraph 4.
(d) Before either party incurs expenses of the type set forth in subparagraph
(b ) (ii) above, such party shall provide to the other a copy of the contract with the service
provider (or, in the absence of a contract, a statement of the scope and'terms of the engagement)
and a statement of the projected fees involved. Both parties must approve expenses prior to their
being incurred.
(e) In accordance with City policy, following approval of the Term Sheet by
the Authority, the Redeveloper will pay all normal and customary City and Authority costs
associated with the plan review and approval process.
5. City and Authority Use of Work Product. The Redeveloper shall make available
at no cost to the City and the Authority for their unrestricted use all available non-proprietary
work product, including market analyses, soil and engineering reports, geotechnical reports,
infrastructure construction budgets and other documentation produced specifically for the site.
,.,
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IN WIT1'Ir:ESS WHEREOF, the parties have caused this Agreement to be duly executed in
each of their names as ofllie date first above written.
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Authority Signature Page - Interim Agreement
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Redeveloper Signature Page - Interiln Agreenlent
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