This is the third amendment to the original Contract for Private Development with Guaghan.  The project has grown over time and we are reaching the final phase before closing where the developer is assigning the project to one of its holding companies for development.  They have also agreed to all of the conditions of the DEED and Met Council grants since they will be using the city's award of funds for some of the site cleanup and remediation.  The developer will also be paying back at closing the EDA for its costs associated with the original acquisition of two of the houses and the demolition costs for the site.  The city has funding through DEED and the Met Council to complete the remediation.  

We anticipate a closing in the next 30-45 days and remediation of soils to begin.