HomeMy WebLinkAboutResolution 94-67 RESOLUTION 94- 67
RESOLUTION AUTHORIZING MAYOR AND CITY MANAGER TO EXECUTE AGREEMENTS WITH ANOKA
COUNTY, COLUMBIA HEIGHTS HOUSING AND REDEVELOPMENT AUTHORITY, AND ZAIDAN HOLDINGS
'"'OR COLUMBIA HEIGHTS BUSINESS CENTER REGARDING A TAX DELINQUENCY AGREEMENT, A
PURCHASE AND PROPERTY TAX AGREEMENT, AMENDED AND RESTATED ASSESSMENT AGREEMENT,
AND FOR THE COLUMBIA HEIGHTS MALL REGARDING AN AMENDED AND RESTATED ASSESSMENT
AGREEMENT
WHEREAS, Zaidan Holdings, Inc. is the current fee title owner of certain property in the City of Columbia
Heights known as the Columbia Heights Business Center; and
WHEREAS, real property taxes on the Property are delinquent for taxes payable in 1990 through 1993 and will
remain unpaid for payable 1994; and
WHEREAS, if the delinquent taxes are not paid, the property will forfeit to the State of Minnesota, in trust for
the taxing districts, in approximately May of 1995; and
WHEREAS, the property is and was, during all years for which taxes are delinquent, located in a tax increment
district and a redevelopment project administered by the HRA in accordance with Minnesota Statutes, Chapter 469; and
WHEREAS, Minnesota Statutes, Section 280.385 authorizes conveyance by the owner of the land which has been
bid in for the state for delinquent taxes in accordance with certain terms and conditions; and
WHEREAS, the City Council of the City of Columbia Heights, the Anoka County Board of Commissioners, the
School Board of Independent School District #13, the Commissioners for the City of Columbia Heights Housing and
Redevelopment Authority consider it in the public interest to resolve the tax delinquency on the property prior to its
forfeiture in May of 1995, as further provided in the terms and conditions of the agreements hereto attached.
_ NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COLUMBIA HEIGHTS RESOLVES:
Section 1: The City Council authorizes the Mayor and City Manager to enter into Tax Delinquency Agreement
heretofore attached as Document 3, by and between the County of Anoka, the Housing and Redevelopment Authority
in and for the City of Columbia Heights, and Zaidan Holdings, Inc.
Section 2: The City Council hereby authorizes the Mayor and City Manager to enter into a Purchase and Property
Tax Agreement, together with related documents including Promissory Note, Subordinated Mortgage Personal Guaranty
Agreement, and Amended and Restated Assessment Agreement, heretofore attached as Document 2, by and between the
Housing and Redevelopment Authority in and for the City of Columbia Heights, and Zaidan Holdings, Inc.
Section 3: The City of Columbia Heights hereby authorizes the Mayor and City Manager to enter into an Escrow
Agreement, heretofore attached as Document 3, and by and between Zaidan Holdings, Inc., Anoka County, Housing and
Redevelopment Authority, in and for the City of Columbia Heights, and to be named the Escrow Agent.
Section 4: The City of Columbia Heights hereby approves, pursuant to Minnesota Statutes, Section 469.!77, Subd.
8, an Amended and Restated Assessment Agreement, heretofore attached as Document 4, for the property located at 3989
Central Avenue N.E., Columbia Heights, Minnesota.
Section 5: The City of Columbia Heights hereby approves, pursuant to Minnesota Statutes, Section 469.177, Subd.
8, an Amended and Restated Assessment Agreement, heretofore attached as Document 5, for the property located at 4001
Central Avenue N.E., Columbia Heights, Minnesota.
Passed this 24th day of October, 1994.
Offered by: Rue t t [ ma nn
Seconded by: Peterson
Ro/~Call: A1 1 ayes
J~/~nn~ Student~ Council S~tary
- ~VI~or Joseph Sturdevant