01-0065R

RESOLUTION AUTHORIZING AN AMENDMENT TO THE AGREEMENT FOR FORGIVABLE LOAN OF MINNESOTA INVESTMENT FUND WITH UNITED HEALTHCARE SERVICES, INC.

BY COUNCILOR FENA:

        RESOLVED, that the proper city officials are hereby authorized to enter into an amendment substantially in the form of the copy on file in the office of the city clerk as Public Document No. ____________________ to the agreement for forgivable loan of Minnesota investment fund (MIF) with United HealthCare Services, Inc. (UHS).


STATEMENT OF PURPOSE:  The purpose of this resolution is to authorize an amendment to the agreement for forgivable loan of MIF with UHS which was passed by the city council on August 14, 2000. The format of that agreement was provided by the department of trade and economic development (DTED). After the agreement was approved by the city council, the parties realized that provisions relating to assignment, mergers and consolidations were not consistent with the provisions of the broader development agreement between UHS, Duke Construction Limited Partnership and DEDA, which was passed by the city council on June 12, 2000. As a housekeeping matter, this resolution authorizes an amendment which places the MIF agreement in conformance with the development agreement. DTED concurs with the amendment.