DISCLAIMER

 

05-0599R AS AMENDED
RESOLUTION AUTHORIZING SKYWALK AGREEMENT WITH GREYSOLON APARTMENTS LIMITED PARTNERSHIP PERTAINING TO THE GREYSOLON PLAZA PROPERTY.

 

BY COUNCILOR GILBERT:

     RESOLVED, that the proper city officers are hereby authorized to enter into an agreement, substantially in the form of that on file in the office of the city clerk as Public Document No. __________, with Greysolon Apartments Limited Partnership for the extension of the Downtown skywalk system through the Greysolon Plaza property.


STATEMENT OF PURPOSE: The purpose of this resolution is to authorize execution of an agreement with Greysolon Apartments Limited Partnership for the extension of the Downtown Skywalk System through the Greysolon Plaza (the old Hotel Duluth) property. Greysolon Apartments Limited Partnership (the Developer) is a company owned and created by George Sherman of Sherman Associates Inc. for the purpose of acquiring, renovating and operating the Greysolon Plaza property.


Pursuant to the agreement the City will construct a bridge from the Medical Facilities Parking Ramp to the Greysolon property and the parties will agree as to the design and construction of the skywalk through the Greysolon. The function of the Skywalk System as it affects the Greysolon and the new hotel are further discussed in the resolution authorizing the hotel Skywalk agreement.


Normally, the City would not enter into a Skywalk agreement such as this without agreement on the specifics of routing and cost allocation but Staff is recommending this “agreement to agree” form in order to meet the Developer’s expressed need for some form of memorialization in order to meet requirements for financing the hotel development and the acquisition and redevelopment of the Greysolon Plaza property.


Because of the use of the Skywalk System to address access issues necessary to the hotel, this agreement and the companion Skywalk Agreement pertaining to the Greysolon Plaza Building have provisions to guaranty the properties access in the event that the Skywalk System is ever abandoned.