HomeMy WebLinkAboutResolution No. 2008-71RESOLUTION N0.2008-71
CITY OF COLUMBIA HEIGHTS, MINNESOTA
RESOLUTION APPROVING A CONTRACT FOR PRIVATE REDEVELOPMENT BETWEEN
THE CITY OF COLUMBIA HEIGHTS, THE COLUMBIA HEIGHTS ECONOMIC
DEVELOPMENT AUTHORITY AND 3'7TH AND CENTRAL LLC
BE IT RESOLVED By the City of Columbia Heights (the "City") as follows:
Section 1. Recitals.
1.01. The City of Columbia Heights, the Economic Development Authority (the "Authority") and 37`h
and Central LLC (the "Redeveloper") have proposed to enter into a Contract for Private Redevelopment,
(the "Contract"} setting forth the terms and conditions of the sale and subsequent redevelopment of
certain property owned by the City, generally located on the southwest corner of 37`" and Central
Avenue.
1.02. The City believes that the building located on the Redevelopment Property is obsolete, with the
result that the developer will incur significant costs to address these substandard conditions in order to
redevelop the property.
1.03. In order to assist the Redeveloper in making redevelopment of the property economically
feasible, the City will convey the City Parcels by quite claim deed to the Authority for later conveyance
to the Redeveloper, and will provide financing and grant funds far acquisition and demolition, subject to
all the terms and conditions of the Contract.
1.04. The City has reviewed the Contract and finds that the execution thereof and performance of the
City's obligations thereunder are in the best interest of the City and its residents.
1.05. The Authority approved the Contract on April 1, 2008.
Section 2. Cit~pproval; Further Proceedings.
2.01. The Contract as presented to the City is hereby in all respects approved, subject to modifications
that do not alter the substance of the transaction and that are approved by the Mayor and City Manager,
provided that execution of the documents by such officials shall be conclusive evidence of approval.
2.02. The Mayor and City Manager are herby authorized to execute on behalf of the City the Contract
and any documents referenced therein requiring execution by the City, and to carry out, on behalf of the
City its obligations thereunder.
Approved by the City Council of the City of Columbia Heights this 14th day of April, 2008
Offered by: Williams
Second by: Kelzenberg
Roll Call: Ayes: Peterson, Williams, Diehm, Kelzenberg Nay: Nawrocki
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Mayor Gary f;. Peterson
Attest:
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Patricia Muscovitz CMC ``"~
City Clerk