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269805 WHITE - CITV CLERK COUIICII PINK - FINANCE G I TY OF SA I NT PALT L ��-�� CANARV - DEPARTMENT BLUE - MAVOR File NO• Council Resolution . Presented By ��CS� 1 I Referred To Committee: Date Out of Committee By Date WHEREAS, The Port Authority of the City of Saint Paul (Port Authority) has agreed to finance the acquisition, installa- tion and construction of an underground. parking ramp on Block A in conjunction with a Downtown Redevelopm�ent Plan; and WHEREAS, The Port Authority ha.s agreed t�o enter into a Lease Agreement with TNID, a shell corporation, under which TNID will provide for the construction of said ramp; and WHEREAS, TMD has agreed to sublease the ramp to the City of Saint Paul subject to terms, covenants and coriditions; and � WHEREAS, A Preliminary Agreement relating to the construction, Lease and Sublease of the ramp has been drafted which, among other things, sets forth obligations of the City of Saint Paul relative to the operation of said ramp; and WHEREAS, it is intended that the Preliminary Agreement as it relates to the City of Saint Pa�1Fis far guidance only and shall be superceded by the Sublease; now therefore be it RESOLVED, That the proper city officials are hereby authorized and directed to execute on behalf of the City of Saint Paul, said Preliminary Agreement with the understanding that the terms and conditions of the Sublease, to be agreed upon later, shall supercede those terms and conditions of the Preliminary Agreement. COUNCILMEIV Yeas Nays Requested by Department of: Butler �}�.g [n Favor Hunt � __ Against BY Roedler ' Sylvester �� S�P 2,2 �9� Form Approved by City Attorney Adopted by ncil: Date Certif Yas Cou il , etary B , Appr ve by 1!layor. Date `� �� T Appr d by 1Nayor for Sub issi.in ta-Council By B `�v , Pi1BLISt�ED 0 CT 1 1977 . . � �� t P' PRELIMINARY AGREEi�IENT �� f �{ � 3 THIS AGREEMENT, made and entered into in the City of � ; Saint Paul, Minnesota, this 12th day of August, 1977, by ; € b and among - PORT AUTHORITY OF THE CITY OF SAINT PAUL, a public corporation organized and exist- ing under the provisions of Minnesota Statutes , Chapter 458, and a redevelop- � ment agency within the meaning of Minne- sota Statutes, Chapter 474, (hereinafter �; referred to as "Authority") , ; . and HOUSING AND REDEVELOPMENT AUTHORITY OF THE �� CITY OF SAINT PAUL, a public body, corpor- x� ate and politic, organized and existing �;�; under the laws of the State of Minnesota, 1 }i - (hereinafter referred to as "HRA") ' ` . and �';�: :,t� CITY OF SAIrTT PAUL, a municipal corporation �!}� under .the laws of the State of Minnesota, �'�!. � (hereinafter referred to as "City") �''� , � ��i�: and •�k: . ;� ST. PAUL JOINT VENTURE, a joint venture �� organized and existing under the laws of the � " State o.E Minnesota, (hereinafter referred to ;�;a as "Joint Venture") , and � TMD, INC. , a Minnesota corporation, (herein- ' ' after referred to as "TMD") , i < �; ; :; , „ � ; �;; � � i�i � . � I � , ; . i I � �5 P�ITNESSET�: WHEREAS: A. TMD and Authority intend that a 'five bay _ parking facility be constructed on premises r located within the boundaries of Seventh, _ � � Sixth, Minnesota and Cedar Streets in the ;� � City of St. Paul, said facility (excluding certain air rights and easements to be held by the Joint Venture) being hereinafter called "Project"; ,� B. TMD and Authority intend, subject to the terms, covenants and conditions herein con= � . `� � tained, to enter into a lease (hereinafter .� � called "Lease") of the Project under which ':� � TMD will provide for the construction of the � Project and subZease the same under an agree- '� ment ("Sublease") with the City and the � � Authority will finance the acquisition, in- � stallation and construction of the Project *� �� through the issuance by the Authority of :�- Commercial Development Revenue Bonds (herein- `+ .� � after called "Bonds") pursuant to rSinnesota � -�' Statutes, Chapters 458 and 474 . � '� � � NOW, THEREFORE, in consideration of the mutual covenants �: �� herein contained, it is hereby agreed by and between the � parties hereto as follows : `-'`� _ 2 - � � rr � , . 1. TriD, the Authority and the City agree to negotiate the Lease and Sublease in such form and tenor as are required � � to effectuate the intent of the parties hereto as evidenced i by this agreement, including without limitation the provision for the following: _ _ (a) The Lease and Sublease terms will commence on the nominal date of the Bonds and will extend through at least the final maturity date of the Bonds. (b) TMD will not be obligated to pay any rental !� � or any other money under the Lease but will be obliga- ted to provide under the Sublease that all net revenues derived from the operation of the Project shall be paid directly to the Authority. � (c) The Sublease will provide that the City will � � �� cause the Project to be maintained in good working order � and free of liens and that on or before termination of � �; ` the construction period liability and property insurance � with respect to the Project in amounts and against risks customary with respect to snch properties will be pro- :� cured and maintained in the names of the City, 'rMD, the �:: Joint Venture and the Authority but at the sole expense k of the City, and that the City will pay all taxes (if any) , assessments, and other governmental charges that p>- �:, � are or may become due with respect to the Project, and I that the City will hold TMD, the Joint Venture and the �' ; I Authority harmless from all liabilities and claims - 3 - k � ' '; � � arising out of i:he use of the Project. � f (d) The Authority will acquire the premises in + � fee from HRA subject to such air rights and easements � � ; (purchased by the Joint Venture directly from HRA} as i � ; � are necessary to enable the Joint Venture to construct � a hotel on top of the Prvject, and TMD will provide for � , the construction of the Project and in conjunction - _ therewith, the Joint Venture will provide for the con- � struction of the hotel. � , ►{ (e) Prior to the commencement of the acquisition of the premises or construction of any part of the Pro- ject, TMD wiil cause to be filed with the Authori.ty and :� approved by its duly authorized agent {i) the P3ans and - � Spec'ifications for the Project certified by an engineer � � registered in the State of Minnesota, (ii) payment and � performance bonds for the work to be undertaken (with '� ' TMD and the Authorit named as co-obli ees) , � � Y g (iii) all � �;.` construction contracts, including any installation con- ' :� `� tract, (iv) such builders risk, installation� floater, � . ;':� and liability ir�surance as will fully protect TMD, the - Joint Venture, the contractor and Authority (who shall � be named as an additional insureds) as their interests ; � shall appear, against risk of loss or damage to the - Project and Project premises and against claims which may arise from the construction, acquisition and insta3la- tion of the Project facilities, (v} waivers from the ; � ; � - 4 - � � �: `��, � �, " - "'�,'�--�'�.9 '� general contractor and all subcontractors and supplie?-s 'f '�;; of all rights against TMD, the Joint Venture and the It� t Authority for damages to property except such rights as �?� �9: they may have to proceeds of such insurance, and (vi) '�� such other assurances as the Authority may reasonably � cost of the Pro 'ect. All con- _ '� ` require to establish the J � , struction contracts entered into for constructing the . '�� . - � � � � �� . Project described herein shall include provisions that � the wages paid to skill.ed and unskilled labor shali not be less than the prevailing wage rates currently in � � . effect in the City of Saint Paul. � ,� . (f) The Sublease shall provide that the parking �F ;� facility shall be operated by the City itself or, with ;.i � consent of the Authority, by TMD, the Joint Venture or � `'' some other third party under an operating agreement, � ; as a public parking facility on a "first come, first serv- + ed" basis under such conditions as will assure that the Project will be exempt from ad valorem property taxes �. and will qualify as a public parking facility under Section 103 (b) (4) (D) of the Internal Revenue Code. � n: . . � � � 2. Upon negotiation of the details of said Lease and �� ¢._ T� Sublease and final determination of the terms of the Bonds, � � t � ` the Authority shall thereafter issue said Bonds in accord- : �9 ance with the terms and conditions set forth in an under- �, � �:. ; writing agreement; provided that issuance of said Bonds �i ' il >I �' } � , r � � _ 5 _ � � �� . �� .. � - ��I� 1�i � � �� ' 4'a� � !i�k' shall be subjec�. to the issuance of the approving opinion ;; 3 � 'i � : � of Briggs and Morgan, Professional Association, bond coun- ';f � ; sel, for the Authority and for the City, and the furnishing �� j �.' i: � of all documents, resolutions, agreements, financial infor- rj mation, certifications, and representations necessary to _ � �'``I the sale and delivery of the Bonds, including those which f � I;; are customarily used and those which are customary and � �� necessary to comply with all state and federal laws, regu- ;�� ,�, lations, rulings and decisions. �1! �� 3. TMD may forthwith contract for: (a) architectural, �x� ;� ;,� engineering, administrative and management services to de- (�s: �i sign the Project, (b} performance of the functions described �+ �� in paragraph 1 (e) hereof, (c) services to be rendered in ' .j , i negotiation of the Lease and Sublease, (d) such soil tests and other information as TMD deems appropriate to facilitate M ,. , developing adequate information on the cost of the Pro�ect; and the Authority shaZl be liable for the costs incurred by TMD in these endeavors if and only if (i) the Joi�t Venture has obtained commitments satisfactory to the executive direc- . :; ;�. � � tor of the Authority to finance the hotel ta be located above i� �� ` the parking facility, (ii) such costs are approved in advance �� I; � : 1 � in writing as to kind and amount by the executive director of - �, � : the Authority and do not exceed in the aggregate $200,000, t� t. F and (iii) any other conditions imposed in advance in writing � � . �. _ ;; G ia. � ;� � �I` r - 6 - �� ;�. � '�. i i. � , , i , 4 by the executive director in giving his consent to such costs are met. In the event the Joint Venture does not � construct or is not capable of constructing the hotel above � the parking facilities, or concedes to the Authority in � writing that it will not or is not capable of so construct- - ' ing the hotel, o;�her than because either the City or the Authority or HRA has breached any agreement it may have with � TMD or the Joint Venture, or other than because one or more � ' ':; s of the points in the Joint Venture' s attached proposal, dated I � July 27, 1976, as revised April 19, 1977, has not been satis- ; � fied or waived in writing, then and in that event, the Auth- � !, i orzty shaTl be relieved of liability for the preZiminary costs set forth above in this paragraph 3, the Joint Venture shall reimburse the Authority for any such costs paid by , : the Authority and any other costs incurred by the Authority ' and approved by the Joint Venture in writing as to kind and ; amount, and none of the parties shall have liability to any of the other parties. 4. All parties agree to use their best efforts in good faith to expedite the construction of the Project and of the hotel to be situate thereon. IN WITNESS �JHEREOF, the parties hereto have caused these presents to be executed aIl as of the day and year - 7 - J r , s first above written. , � ' � , i ; � In the presence of: PORT AUTHO Y OF, CI Y OE� � . `i �� SAINT PAU �) � . � ..� By r � ��' �c��`i I � sident '� . �?� ��, By '�i - ,� � l�uJ�y✓ Its/Secret Y _ _��!'i^ � �; :,! HOUSING AND REDEVELOPMENT AUTHORTTY � OF THE Y F SAIN PAUI, By ,! . # By % - _ f _ 5 CITY O SAINT PAUL By ST. PAUL JOINT VENTURE �? �. _ By: CAPITAL HOSPITALITY CORPORATION, �� ,. ,' � a J t Ventur -� / , � � ` � � �f I �-��• �-�' � .�l-� And : SPH HOTEL �COMPANY, � a Joint Venturer .._t� �� . � f L _ zts �: n � I i; TMD, YNC. �`; � ( � r , ` (�-- �\\\ By , �.J� /\ �..�J Y ✓\/�i�/�• / �� ' /�/(_ � ��f�i J �-.�,/�/��"'1/ ��, . h I.� � . i � , ; i i i � ; ;. - s - i ,� i �----�-•---.�k . ::.:_^t�. _F � Proposal of St. Paul Joint Venture ��h , dated July 27, 1976, revised ADril 19, 3977 (� � � . _ � : ,�l � _ � : �� 1. Parkinq R�-�p On,Block A - `----�' � The C�ty and Port Authorit � � � Y (P�) taill provide an undergxourid parking� ramp be�eath the total Block A hotel stzucture. I t ��ill be the pre?-�gative o,: thz pA to design and building the parking ramp as "it � feels it is aaost proper to do. Our bui,lding a hotel atop the ra.�np •«ill b� ��tera,ined by t.-ze hotel's econo.�n.ic feasibility; therefore- if ther� is any premi.u,�--t involved in the cost �f hotel construction �� due to a particular design of the rainp required by the City it will . � be the City's responsibiiity to pay th,at •premium or to r�design and " build the rainp in such a �ay that the premiur.t is avoided. An• cost• � incured to acco�*nodate the ho�el's structural sysiem to the r��'s' eo?u,�^�ar and structural svste�. wi e borne bv the P�. �tihen tha � � :a_ schernatzc design of the r�p has been finalized to the PA•'s satisfac- � tior� it� should then b� possibl� far the Radi.sson technical sta�f and ` �t�.`�z C�ty architect to evaluate the relative vaiues of construction �- trad�-offs dsal.ing wzth the ramp/hotel deve?opnent an.d io negotiate • - 4 a fair nannz� o-� dzaling wi.tn relative costs. We have no intent to •� J�oPzr�3-ZE'- the ta:� exe�pt status of ths bonds, but Vre do wan� Lo - arrive at a solu-�ion that will make it a,z econoaiically possible �. � '� pxoj�ct for bath the PA ar_d Radisson. . � " - - 2. Financing . ' . . _ _ . . . f; T�;e are seeking fina�-�cing fo� �e construction of the Ra �w.sson PZaza - � (Block �) . Z�7e ��elievz a3.1 t�e nzcessary financing is availa�Ie and . - on coT3i.Lio�s acce ptable to us. H o w z v�r, w e h a v e receive d no .forr,tal " cor�mi.t�*ent letters a.,r�d so i�e cannot yet tell you what �ill bz tiiz .- - . lerider�`' requirer.zents that will affect HRA/Ci.ty. 'F7e anticipate the �. ' requi�„ �nts will be siiz�ilar to those outlin�d in our px�oposal to ' � ' you o�,�lugust 7, 1975. . •Bz�ore the project can procezd to co:naletion :� � our partnership r,iust have obtazned adequa�e �temporary and perr,ar_�nt - � �inancing arrange..�eats for the Rac�isson Plaza hoLel th.at in the ' � partnership's sole judynent can bz su�paTtzd by .the o��ration of the hote?_ � . � . . . _ .3. Public Obliqat?or_s � . � � - :� _ _ -_ _ � - _ - - " � :=.,_'_- ` . . . . _:_ •-.� . : _ _ _ - . : -_ . , _- ,-� 1�teceipt of forn�.l �inancing co,-ami.tr.�nts for the Radissorz Plaza Hotel �' �nd executian of necessary agr2emen�s saith the City, HRA aiid PA b�r � St. Paul �oin� Ventur� are conditions of th�;several obligations o€ • th°se public bodies as conta?�ed in this pro�osal: - - 4. Licenses = :. � • � � ' - • - Tne Ci�y nust co,� zt itself to issue, or insure the �ransfer af, aIZ � the lzc�nses, includi.ng liquor licensss, perntits an3 �pprovals and r:iust insu�e �hat all governner_taI ac-tion �,rill be �ccomplisned tha;,� is � . � ` � --; . , _?_ _ � � _ � .. . - _ � � � necessary or desirabl.e for us to b2gin t-h� project and cont�inue � � with our operation. � � - _ __ _ _ _ - � � ~ - � - — - • � I�� ' � ♦ . Ia. � - , y_ 1 St ii . . �, , ' �'�: 5. Fun3s For Amenities � _ A. � � � � �� (1) In Radisson Plaza there will be a bank o� elevators � which wi.11 s�r��e only hotei guests and which ��i11 run fron the hotel - � lobby to other public spaces and to guest rooms. S,7e will b� solely ' ' respor_sible for the cost of providing these elevators . Hz2A��:r�i.l �� xovide t�;� elevators iyhich r��, froln the lo�est level of th.e par'.�cing ` �ar.� to the hi�i�st level of thQ c-�n��„-�P �r,P�n; r, on each floor � h �en. The cost for these elevaicors will be� covered in the PA �s cost of ra.i*:p eonstruction. P��ri1�1 bs responsible for• �ost o� � � ele�ra�or cabs ab e�trances and mechan-!c ru.� iro:n the � ark' - '� .ramn to t e s::yway 'cor_course -- � _.. � all ceilin � �nt:h�use, cr enclosvrzs o ' �i � = y� - �- p. � (2) HR�/City - �� will provz � z east one pair of escalatozs .betw�en�the main� floor.' .. ; and the concou?-se level. ' � . . - _ - � ��. _' '; • • - - ; � � B. PA will provi.de s�airtaavs . - � --�`� •�- �-:�:-�:' �- -' ' . -=� � �� =:~: at sky�aay entrances to the hotel. The bank. of elevators prosridec3 � � by PA �•rill. b� loca-ced to provide the .necessary services to t�e - ;� handi�ap�zd. • ' ' . - _ , ' . - . . - . _ ; . - .. _ 'I� C. FiP.� will reimburse us �or construct?o� of .pedestrian � cozcoc�rses through thz building at the rate of �35. d0 a square foo�, � �- !. as. •adjusted to the then curr�at Engineeri.ng 23e��s Re�ord Bui.Idz�g �` Cost �ndex for. rlinaeapo�is subject to final design as ap�roved b� HR�.•� -- -_';'� . . � . 4 • � � D. H�1/City will build tt�o sky:vay bridges, one �across - � � �� 2�fir�,��so� and ona across £th Street, without cost to us excep�� for �: _ ,; the structural suop4rt wnere thA bridges enter the hotel whicn c•7e - '� will provz de. HRA/City F�i.11 cause a S2C0^3 level connection ov�r � _ '; Ced�r S-�ree� eithzr, by w�y af a galleria or a bridge without cost �to ! � _ us exce�t for r�ecessa.ry supports�`. The HR�/City will extend the s�cy�,�ay ��_.'�, syst�;*� fro.n the St. Paul Athletic C1Lb, 'through P•Iinneso-�a �Iutual �� Bu?ldir_g to the Deg�ee of Nonor Building �o� li.tle Abs�ract Build�ng ' 'r and t..hen frv� these two buildings to the Raclisson St. Paul �:otel � - ;� thro�zgh i-ts Far:�i.ng r��. � - . . . _ _ �_ �; � - _ : . � � -- , - E. HR� Cit z�ill build a four�.h s;: � • �� / y yi•�ay. from the P,adisson . ,:; �Plaza across 7th Streat if the 7th Place plan coveri�g the street '; doesn't proceed and ano�her building :is pu� on th� o�.her side of - - - �� 7th Stre�t from B?ock A. � � . • _ � _- ��. ;,, Q ' a ` � ,�i E F. Z•Te �aill grant aIl recessaxy publ?c eas��.n-�.s, such as -_ ',�i those necessary for the public skyc•rays in the hotels and for any par�s '" ' of the parking ramp structure that intrude i.nto our air rights. i`' � � _ - i'; .;;'; i G. In tize event th� S�venth Place Plan c:aes not proceed r ':.� FIi2A �ti.11 cause any structure built in th° northerly par� of Bloc?: A to be given roof landscaping tr�atmen� as is _ _ ' �? ' - compatible wi.th the Radisson Plaza hotel develop:r.e:r�t. t !� � . . � .- :p '` *wnere the connection enters the hatel � . � . -,5- . . • . . .. -. � . ��"��`� __ 6. Good Faith Deposit � PI� uszderstand that no deposit, will be re uzred o I q � show that we are � in good �azth proceeding with' the projecE- seriously. � . _ -.• ; � . , , ?. Facilities/Uti�.ities - i ; �i ' The City nust assure us that all facili.ties/utilities will be - -- � �' adequate for the op�ration of the hote3.s e. p `� opzrational use and for fire rotection � g' ' sew�r, ��ater for norr,tal seller of a serLice attempts to inpose hooksup chargesr�wetwouldf refer tY:e coop�}ati.on ai iiR2,/City in reduc�ng the charges to enhance the poss�bili,ty -�i�.at the hotels will be economi.c�lly feasible. To the A extent tha�_ charges are imposed we c��ill of course have to figure them � R as part� of the co�ts of the hotels and weigh th�ir detri��ntal effect �-- � on the hatels ' economic �feasibility. Tne Ci.ty and HRA ��•�ill cer�.ainl - �a assist the Join� Venture in an y ne g o t i a tio�s wz-t h private utili.ty � � :` compa.�ies in reducing hook-up charge�; ho�ever, it is your posi-�?on. � � • that such hook-tzp ch��ges are a r_orinal and pre3ict�ie eos-� of develop- r,�ent and must .be borne by th� .deve].op�r. . - _ . :; . . _ _ - . • = lF: - 8. Ingress And Egress - Block A - - - . - . . . . � - - . . . '_� HRA/City and PA anc� we must reach agreer.?ent on i.ngress a_nd egr�ss� for -� bo�h pa?-k�ng and servic�s includir_g taxis. Since these d�pznd on th� - desig�s oi botlz the Radisson Plaza a�.d the par;�ing rarnp, these -� proposals and the agreement on thenc ��zll ce.�_e a` a later date. Provision. for such in ress and e ress nus� �-, � ` g g kae acczg.�uble to the Ci.ty r:r �Trafi.ic Engin��r and Building Depart*n�nt __ _ _-. _ . � - •� - :� ' � � - --� - - ._ - - . -- - .. :� � , • 9. S�le �+�x Pa_king R�mr� - Bloc;� A ' . . `__ - , � �Da3a�ec3. . - . � . = .. - - i0. Feasib�3.ity Study �- ' - _ - . � - - . - L�Te have obzained a �easibility study and a�praisal �of• •th� tr�io hotels . - as an_ in��grz�ed operation that are accepta..�le t� us, but this s-�udy- �� must yet b� ap�=oved by the lenders. , • _ - . . ' .� • -� 31: � Sidewalks, Etc. - Bloc�c A � . - : . _ - ..�I - '_ . _ --;� � The lig_�ting; construction of sidei,ralks and� curla�, ?ar.dscaping and a?�. '.:" isir,�xlar z,rork on Block A outside the propercy line are to be provided � by _'H?.A/C' ��.:=::�=in acc�rdance �•�ith DotiantoL��n Ur'nan Re,^,e�•�al Area pragram: � require;�er.ts. If either party requests that sidez,ral;cs be heated, the : � cos� o� installation, o�eration and r,iaintenance are that of the � r�questing p�rty. � : � _ ' ' � � . r - � T- 12. Hote1 Signs - _ . . : .� �Wz ��rill present to you our .identificatioz and s,ign plans for Radisson : 1 Plaza Hotel. I-� zs necessary that before we are final].y comiccitte� . ( ' �,;e }�r_a:a that otzr plan corzforr.ES �.�ith all requare�znts. . _ � _ ' - 1 . �� N . .. . . _ `��,, -�_ �j � G t 13. Strikps �il �i /PA HR�/City /�:nd t�� must each rave' received a guarantee that there wiil b= no strikes during the. constructi.on of the p�rking rarnp,. t�he refurbishing of th� Radisson St. Raul and the construction of the Radisson Plaza. . ' lh. Environmen�al Matters � . t�:e i��orr:ied you in our pro�osal of August 7, _I975 thaz our - • � _ �=�; l�nders had Iisted am�ong their requirernents .e�idence. satis- - � - ._ fac�ory to them that all neeessar�r approval�. had. been obtained so ` _ that construction could proceed without inter�up�ian as far = -.� as environm�ntal matters were concerned, and we sa�d at that ' - '� tir:ne we felt there may be an environnental impact study . - `�� . ��: required on the ramp, iTnich tYas the City's responsibility, and =- r{�; possibly one would be required on the Hotel and that the- : ��;, CiLy or HRA must pick�up alI c�sts related to such studies_ � � ti�Te believe that as the planner of the whole development pro- � � '� gram and its component parts as described in the wnereas . _ ;� clausss of th� agreemer_t to zahich this proposal is attached� , - ;�.` it is proper that you undertake the �unction of assuring - - . _� that ;n.e �ahole .of the Black A �proj ect complies wi�h all - _= �-. :� � .enviror�ental la��s_ Our concern really fal}.s into_ two - �� _ ---: ,� parts_ • Or.e is that we do not want t� constrcu��, or even �� devzlop lans for a hotel that is � - ±°� p , part of a project that vio].a�es any of these lat•rs. Second, �re do not want to - - �`' find after 47° have spe�t any r.are time and r.loney that the � - � project must be halzed even temporarily for study. There-- - -' fore, we rtust �a�e you'r �,r!�itt�n assuYance 'tha� the wno�e " .. : - _ -o� th� Block A proj�c� comolies t�i.th all environmental . . � '�w--` ��= la�as_ _ . _ �:-- _ � � - . - - . _ -��- �� . � - • _ : . _ _ _ . . -- _ :�< . - . . • . _ -. � = -' . � � = - ,� _ , _ . _ . - _ _ - - _ _ . . - _ -�:�=. � . - - .. , - . - - - - . - -. . - . • .- '-�; � � - - . • . - . . - : �� -;:�. _ . . . _ - � �-_ - - . _ -_ - - .. _. ... .�. . � . : - . . . � - � . - • . :::t: � . - . . . . . _ . . 1_ ` . . -. - • - =. .:; _ ; - _ - _ ; _ ,� � - � - . _R��.j� �_,. J �� J PORT AUTHORITY OF THE CITY OF SAINT PAUL 1130 MINNESOTA BUILDING, 4TH AND CEDAR, SAINT PAUL, MINN. 55101, PHONE (612) 224-5686 September 19, 1977 City Council of the City of Saint Paul City Hall and Court House Saint Paul , Minnesota 55102 RE: PORT AUTHORITY OF THE CITY OF SAINT PAUL-- RADISSON RAMP PROJECT (PRELIMINARY AGREEMENT) Ladies and Gentlemen: This Letter of Intent is intended to acknowledge that under the terms of the Lease and Sublease they shall upon issuance of the bonds to finance the project supersede in its entirety said Preliminary Agreement so that the terms and conditions in said Lease and Sublease shall prevail over any inconsistent terms and conditions set forth in the Preliminary Agreement. PORT AUTHORITY Of THE HOUSING AND REDEVELOPMENT AUTHORITY TY OF SAINT PAUL OF THE CITY OF SAINT PAUL B By '`�=��--� : ts I�ts CITY OF SAINT PAUL ST. PAUL JOINT VENTURE � � �"7_'"_w` . � , B _;�� By � I � Its TMD, INC. By . �t , Its - ROBERT F. SPftAFRA EUGENE A. KRAUT, C.I.D. DONI�LD G. DUNSMEE, C.I.D. CLIFFORD E. RAMSTED ROSCOE C. BROWN ff%ECUTiVE VICE PRESIOENT RSSISTANT EXECUTivE ViCE PRESIOENT DIRECTOR. INOUSTRiAL DEVELOPMENT CHIEF ENGINEER CMIEF ACCOUNTANT . COMMISSIONERS GEORGE W. WiNTER PATRICK J. ROEDLER LOU15 H. MEYERS G. RICMARD SL�DE ROSAL.�E L. BUTLEq ARTIiUH N. GOOOMAN W�LLIqM J. SEIFERT PqESIDENT VICE PRESIOENT SECRETARY TREASURER C.I.D. Certified Industrial Developer ,-_ 2