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20170710_EDA_Packet
ECONOMIC ECONOMIC DEVELOPMENT AUTHORIDEVELOPMENT AUTHORITTY AGENDAY AGENDA JulyJuly 1010,, 20120177 6:30 pm6:30 pm City HallCity Hall CConferenceonference Room Room 11 thth 590590 4040 Avenue NEAvenue NE Columbia Heights, MN 55421Columbia Heights, MN 55421 1.1.Call to OrderCall to Order 2.2.Roll Call Roll Call 3.3.Pledge of AllegiancePledge of Allegiance CONSENT AGENDACONSENT AGENDA 4.4.Approve minutes of Approve minutes of June 5June 5,, 20120177 and June 12, 2017and June 12, 2017 5.5.Approve Financial Report Approve Financial Report andand Payment of Bills forPayment of Bills for May,May, 20172017 Resolution Resolution 20172017--1166 Motion:Motion: Move to approve Consent Agenda as presented.Move to approve Consent Agenda as presented. PUBLIC HEARINGPUBLIC HEARING 6.6.Single Family Home Program Single Family Home Program -- Concept Application Approval of 4647 Tyler Street NEConcept Application Approval of 4647 Tyler Street NE Motion: Motion: Move to waive the reading of Resolution 201Move to waive the reading of Resolution 20177--1717, there being ample copies , there being ample copies available to the public.available to the public. Motion:Motion: Move to adopt Resolution 2017Move to adopt Resolution 2017--1717, Resolution Approving , Resolution Approving the the Purchase and Purchase and Redevelopment Agreements with Tollberg Homes, LLC for the acquisition of Redevelopment Agreements with Tollberg Homes, LLC for the acquisition of 4647 Tyler 4647 Tyler Street NE, Columbia Heights, MN 55421.Street NE, Columbia Heights, MN 55421. BUSINESS ITEMSBUSINESS ITEMS 7.7.Exclusive Exclusive Right For Right For Representation AgreementRepresentation Agreement Motion: Motion: Move to waive the reading of Resolution 2017Move to waive the reading of Resolution 2017--1188, there being ample copies , there being ample copies available to the public.available to the public. Motion:Motion: Move to adopt Resolution 2017Move to adopt Resolution 2017--1188, , a ra resolution esolution aapproving thepproving the buyer buyer representation contract with Re/MAX Synergyrepresentation contract with Re/MAX Synergy.. OTHER BUSINESSOTHER BUSINESS 8.8.AdjournAdjourn AugustAugust 77,, 20120177 The next EDA meeting will be The next EDA meeting will be at City Hallat City Hall ECONOMIC DEVELOPMENT AUTHORITY (EDA)ECONOMIC DEVELOPMENT AUTHORITY (EDA) MINUTES OF THE MEETINGMINUTES OF THE MEETINGOFOF JUNE 5JUNE 5, 201, 20177 The meeting was called to order at The meeting was called to order at 6:336:33pm by pm by PresidentPresidentSSzurekzurek Members Present:Members Present:Williams, Buesgens, Murzyn, Herringer, Williams, Buesgens, Murzyn, Herringer, SchmittSchmitt,,Novitsky, Novitsky, and Szurekand Szurek Staff Present:Staff Present:Walt FehstWalt Fehst,,Keith DahlKeith Dahl,,Joseph Hogeboom,Joseph Hogeboom,and Shelley Hansonand Shelley Hanson.. Don Drier, a college student seeking a degree in Public Administration was also present. He is a Don Drier, a college student seeking a degree in Public Administration was also present. He is a ColumColumbia Heights resident who wants to observe various City meetings and will be joining the bia Heights resident who wants to observe various City meetings and will be joining the Comprehensive Plan Committee to further his education in this area Comprehensive Plan Committee to further his education in this area and learn firstand learn first--hand hand howhow local government works.local government works. PLEDGE OF ALLEGIANCEPLEDGE OF ALLEGIANCE-- RECITEDRECITED Nick Novitsky was oNick Novitsky was officially sworn in as an EDA member.fficially sworn in as an EDA member. CONSENT ITEMSCONSENT ITEMS 1.1.Approve the Minutes from Approve the Minutes from May 22May 22,,20120177 2.2.Approve the Financial Report and Payment of Bills for Approve the Financial Report and Payment of Bills for AprilApril20172017on Resolution on Resolution 20120177-- 1122.. Questions by Members:Questions by Members: There were no questions.There were no questions. Motion byMotion byWilliamsWilliams,,seconded byseconded byMurzynMurzyn,,to waive the reading of Resolution 201to waive the reading of Resolution 20177--1122 there being an ample amount of copies available to the public. All ayes. MOTION there being an ample amount of copies available to the public. All ayes. MOTION PASSED.PASSED. Motion byMotion byWilliamsWilliams,,seconded byseconded byMurzynMurzyn, to approve the , to approve the Minutes Minutes ofofMay 22May 22, 2017, , 2017, andand thetheFinancial RepFinancial Report and Payment of Bills forort and Payment of Bills forAprilApril, 2017, 2017as presenteas presented. All ayes. d. All ayes. MOTION PASSED.MOTION PASSED. RESOLUTION NO. RESOLUTION NO. 20172017--1122 A Resolution of the Economic Development Authority of Columbia Heights, Minnesota, Approving A Resolution of the Economic Development Authority of Columbia Heights, Minnesota, Approving the Financial Statements for the Financial Statements for the the Month ofMonth ofAprilApril, 201, 20177and the Payment of the Bills for the Month of and the Payment of the Bills for the Month of AprilApril, 2017, 2017.. WHEREAS,WHEREAS, the Columbia Heights Economic Development Authority (EDA) is required by Minnesota the Columbia Heights Economic Development Authority (EDA) is required by Minnesota Statutes Section 469.096, Subd. 9, to prepare a detailed financial statement which shows all receipts aStatutes Section 469.096, Subd. 9, to prepare a detailed financial statement which shows all receipts and nd disbursements, their nature, the money on hand, the purposes to which the money on hand is to be disbursements, their nature, the money on hand, the purposes to which the money on hand is to be applied, the EDA's credits and assets and its outstandapplied, the EDA's credits and assets and its outstanding liabilities; anding liabilities; and 1 EDA MinutesEDA Minutes Page 2Page 2 June 5June 5, 2017, 2017 WHEREAS,WHEREAS, said Statute also requires the EDA to examine the statement and treasurer's vouchers or bills said Statute also requires the EDA to examine the statement and treasurer's vouchers or bills and if correct, to approve them by resolution and enter the resolution in its records; andand if correct, to approve them by resolution and enter the resolution in its records; and WHEREAS, WHEREAS, the financial statementthe financial statementssfor the month offor the month ofAprilApril, 2017, 2017has behas been reviewed by the EDA en reviewed by the EDA Commission; and Commission; and WHEREAS, WHEREAS, the EDA has examined the financial statements and finds them to be acceptable as to both the EDA has examined the financial statements and finds them to be acceptable as to both form and accuracy; and form and accuracy; and WHEREAS, WHEREAS, the EDA Commission has other means to verify the intent of Section 469.096, Subd. 9the EDA Commission has other means to verify the intent of Section 469.096, Subd. 9,, including but not limited to Comprehensive Annual Financial Reports, Annual City approved Budgets, including but not limited to Comprehensive Annual Financial Reports, Annual City approved Budgets, Audits and similar documentation; and Audits and similar documentation; and WHEREAS,WHEREAS, State of MinneState of Minne NOW, THEREFORE BE IT RESOLVEDNOW, THEREFORE BE IT RESOLVED by the Board of Commissioners of the Columbia Heights by the Board of Commissioners of the Columbia Heights Economic Development Authority that it has examined the referenced financial statements including the Economic Development Authority that it has examined the referenced financial statements including the check history, and they are found check history, and they are found to be correct, as to form and content; and to be correct, as to form and content; and BE IT FURTHER RESOLVED BE IT FURTHER RESOLVED the financial statements are acknowledged and received and the check the financial statements are acknowledged and received and the check history as presented in writing is approved for payment out of proper funds; andhistory as presented in writing is approved for payment out of proper funds; and BE IT FURTHER RESOLVED BE IT FURTHER RESOLVED this resolutithis resolution is made a part of the permanent records of the Columbia on is made a part of the permanent records of the Columbia Heights Economic Development Authority.Heights Economic Development Authority. thth Passed this Passed this 55day ofday ofJuneJune, 2017, 2017.. Motion by:Motion by: WilliamsWilliams Seconded by:Seconded by:MurzynMurzyn PUBLIC HEARINGPUBLIC HEARING THTH 1.1.DEEDING OF EXCESS PROPERTY DEEDING OF EXCESS PROPERTY CONVEYANCE OF CONVEYANCE OF 4147 74147 7STST-- RESOLTUION 2017RESOLTUION 2017--1313 Dahl stated that over the years, the Columbia Heights Economic Development Authority (the Dahl stated that over the years, the Columbia Heights Economic Development Authority (the redevelopment programs. A few of the properties redevelopment programs. A few of the properties acquired are nonacquired are non--conforming residential properties pursuant to City Code of Ordinances, Chapter conforming residential properties pursuant to City Code of Ordinances, Chapter 9, Article I, Section 9.106, Subd. (B)(4); and Section 9.109, Subd. (C) because they do not meet 9, Article I, Section 9.106, Subd. (B)(4); and Section 9.109, Subd. (C) because they do not meet the minimum lotthe minimum lotarea and dimensions. The EDA owned property located at 4147 7th Street NE, area and dimensions. The EDA owned property located at 4147 7th Street NE, --2A One and Two Family 2A One and Two Family Residential District is one of these nonResidential District is one of these non--conforming residential properties. The following are conforming residential properties. The following are exexcerpts from City Code pertaining to the noncerpts from City Code pertaining to the non--conformity of the Subject Property. conformity of the Subject Property. 2 EDA MinutesEDA Minutes Page 3Page 3 June 5, 2017June 5, 2017 City Code of Ordinances, Chapter 9, Article I, Section 9.106, Subd. (B)(4):City Code of Ordinances, Chapter 9, Article I, Section 9.106, Subd. (B)(4): A lot of record shall be deemed a buildable lot provided it haA lot of record shall be deemed a buildable lot provided it has frontage on a public rights frontage on a public right-- ofof--way and meets the setback and area requirements for the district in which it is located, way and meets the setback and area requirements for the district in which it is located, or adjusted to conform as follows: a lot or lot of record upon the effective date of this or adjusted to conform as follows: a lot or lot of record upon the effective date of this article which is in a residential district aarticle which is in a residential district and which does not meet the requirements of this nd which does not meet the requirements of this article as to area or width, may be utilized for singlearticle as to area or width, may be utilized for single--family detached dwelling purposes family detached dwelling purposes provided the measurements of such lot meets 100% of the front yard, side yard and rear provided the measurements of such lot meets 100% of the front yard, side yard and rear yard setback requirements for tyard setback requirements for the district in which it is located and 60% of the minimum he district in which it is located and 60% of the minimum lot area or lot width requirements for the district in which it is located.lot area or lot width requirements for the district in which it is located. City Code of Ordinances, Chapter 9, Article I, Section 9.109, Subd. (C):City Code of Ordinances, Chapter 9, Article I, Section 9.109, Subd. (C): Lot area, setback, height and lot coverage requiLot area, setback, height and lot coverage requirements for uses in the residential rements for uses in the residential districts shall be as specified in the following table for Rdistricts shall be as specified in the following table for R--2A2AOne and Two Family One and Two Family Residential District:Residential District: Minimum Lot Area SingleMinimum Lot Area Single--Family Family 6,500 sp. ft.6,500 sp. ft. Dwelling:Dwelling: Minimum Lot Area TwoMinimum Lot Area Two--Family Dwelling:Family Dwelling:12,000 sp. ft.12,000 sp. ft. Minimum Lot Width:Minimum Lot Width:60 ft.60 ft. Dahl told members that tDahl told members that the Subject Property is thirty (30) feet by onehe Subject Property is thirty (30) feet by one--hundred twentyhundred twenty--nine and nine and fifteen hundredths (129.15) feet. Since the lot width or area does not meet the minimum lot width fifteen hundredths (129.15) feet. Since the lot width or area does not meet the minimum lot width buildable. Thus, in certain circumstances such as this, the EDA has tended to deed the property buildable. Thus, in certain circumstances such as this, the EDA has tended to deed the property to an adjacent property owner(s). to an adjacent property owner(s). Staff reached out to both property owners who are adjacentStaff reached out to both property owners who are adjacentto the Subject Property to see if to the Subject Property to see if either property owner had an interest in acquiring all or a portion of the Subject Property. The either property owner had an interest in acquiring all or a portion of the Subject Property. The only response staff received was from the property owners of 4149 7th Street NE, Vladimir and only response staff received was from the property owners of 4149 7th Street NE, Vladimir and Tisha Maksimovich (collectivelTisha Maksimovich (collectively, Maksimovich). The Maksimovichy, Maksimovich). The Maksimovichsshave expressed an interest have expressed an interest in acquiring the Subject Property from the EDA for the addition of more yard space. in acquiring the Subject Property from the EDA for the addition of more yard space. For consideration tonight, the EDA must determine if the conveyance of the Subject Property to For consideration tonight, the EDA must determine if the conveyance of the Subject Property to Maksimovich isMaksimovich isadvisable. A notice of public hearing was published in the Sun Focus for any advisable. A notice of public hearing was published in the Sun Focus for any person wishing to express an opinion on this matter to be heard orally or in writing. person wishing to express an opinion on this matter to be heard orally or in writing. At this time sAt this time staff recommends conveyance of 4147 7th Street NE to Vladimir and Tisha taff recommends conveyance of 4147 7th Street NE to Vladimir and Tisha MaksMaksimovich. imovich. Once combined, they will have a 70 ft. wide lot which would be considered a Once combined, they will have a 70 ft. wide lot which would be considered a conforming lot.conforming lot. 3 EDA MinutesEDA Minutes Page 4Page 4 June 5, 2017June 5, 2017 Questions from members:Questions from members: Williams asked how many properties were left of the ones purchased by the City. Dahl said Williams asked how many properties were left of the ones purchased by the City. Dahl said there are two lots for sale from those purchased prior to 2016 and there are two lots that will be there are two lots for sale from those purchased prior to 2016 and there are two lots that will be for sale as soon as the structures are demolished. Williams askefor sale as soon as the structures are demolished. Williams asked what the City paid for the lot d what the City paid for the lot remember the amount paid. He said he could provide that information to Williams later. remember the amount paid. He said he could provide that information to Williams later. Dahl Dahl went on to say that the Maksimovwent on to say that the Maksimovichs were not paying anything for the lot, but it would increase ichs were not paying anything for the lot, but it would increase the value of their propertythe value of their property,,and therefore generate more taxes as it would be back on the tax rolls, and therefore generate more taxes as it would be back on the tax rolls, rather than remaining tax exempt as it is now. He went on to say that the City has rather than remaining tax exempt as it is now. He went on to say that the City has also also bbeen een expending money on the lot keeping it mowed for the past 8 years. expending money on the lot keeping it mowed for the past 8 years. Williams thought they Williams thought they should have paid something for the lot, even though he knows we would never recoup the entire should have paid something for the lot, even though he knows we would never recoup the entire cost. cost. Schmitt asked if the City can mandate that it be combined witSchmitt asked if the City can mandate that it be combined with their property into one parcel. h their property into one parcel. Dahl said they can combine the two parcels in order to simplify the records and tax statements. Dahl said they can combine the two parcels in order to simplify the records and tax statements. However, even if they keep as two separate lots and have two tax statements, it still would not be However, even if they keep as two separate lots and have two tax statements, it still would not be a buildable lot, so it caa buildable lot, so it can only be used as extra yard space. n only be used as extra yard space. Public Hearing Opened..Public Hearing Opened.. No one was present to speak on this.No one was present to speak on this. Public Hearing Closed.Public Hearing Closed. Motion byMotion bySchmittSchmitt, seconded by, seconded byBuesgensBuesgens,,to waive the reading of Resolution 2017to waive the reading of Resolution 2017--13, there 13, there being ample copies available to the pubeing ample copies available to the public.blic.All ayes. MOTION PASSED.All ayes. MOTION PASSED. Motion byMotion bySchmitt,Schmitt,seconded byseconded byHerringerHerringer,,to adopt Resolution 2017to adopt Resolution 2017--13, Resolution Approving 13, Resolution Approving the Conveyance of 4147 7th Street NE, Columbia Heights, MN 55421 to Vladimir and Tisha the Conveyance of 4147 7th Street NE, Columbia Heights, MN 55421 to Vladimir and Tisha Maksimovich.Maksimovich. Roll call: ayesRoll call: ayes--Buesgens, HerrBuesgens, Herringer, Murzyn, Schmitt, Szurekinger, Murzyn, Schmitt, Szurek NaysNays--Williams and Novitsky. Williams and Novitsky. MOTION PASSED.MOTION PASSED. COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITYCOLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION 2017RESOLUTION 2017--1313 The undersigned, being the current members of the Board of Commissioners of the Columbia The undersigned, being the current members of the Board of Commissioners of the Columbia AuthorityAuthority Heights Economic Heights Economic Development Authority (the "Development Authority (the ""), take the following actions in writing."), take the following actions in writing. 4 EDA MinutesEDA Minutes Page 5Page 5 June 5, 2017June 5, 2017 WHEREAS, the Authority is the current owner of certain real property located at 4147 7th Street WHEREAS, the Authority is the current owner of certain real property located at 4147 7th Street NE, Columbia Heights, Anoka County, MinnesNE, Columbia Heights, Anoka County, Minnesota, and legally described as the South 30 feet of Lot 22, ota, and legally described as the South 30 feet of Lot 22, PropertyProperty MaksimovichMaksimovich property adjacenproperty adjacent to and north of the Property, and have expressed interest in acquiring the Property from t to and north of the Property, and have expressed interest in acquiring the Property from the Authority;the Authority; WHEREAS, the Authority is willing to convey the Property to Maksimovich, in consideration for WHEREAS, the Authority is willing to convey the Property to Maksimovich, in consideration for Maksimovich paying all closing costs associated with thMaksimovich paying all closing costs associated with the conveyance of the Property; ande conveyance of the Property; and WHEREAS, the Authority, through its undersigned Commissioners, has reviewed copies of the WHEREAS, the Authority, through its undersigned Commissioners, has reviewed copies of the DeedDeed NOW, THEREFORE, be it resolved that Marlaine Szurek,NOW, THEREFORE, be it resolved that Marlaine Szurek,as the President of the Authority, is as the President of the Authority, is hereby authorized, empowered and directed for and on behalf of the Authority to deliver to Maksimovich hereby authorized, empowered and directed for and on behalf of the Authority to deliver to Maksimovich and cause for recording in the Office of the County Recorder of Anoka County, Minnestoa, the Deed and and cause for recording in the Office of the County Recorder of Anoka County, Minnestoa, the Deed and any other doany other documents that may be incidental to the consummation of the conveyance of the Property to cuments that may be incidental to the consummation of the conveyance of the Property to Maksimovich. Maksimovich. RESOLVED FURTHER, that Marlaine Szurek, as the President of the Authority, is hereby RESOLVED FURTHER, that Marlaine Szurek, as the President of the Authority, is hereby authorized and directed to execute and take such action as she deeauthorized and directed to execute and take such action as she deems necessary and appropriate to carry ms necessary and appropriate to carry out the purpose of the foregoing resolutions.out the purpose of the foregoing resolutions. RESOLVED FURTHER, that these actions shall be effective as of June 5, 2017.RESOLVED FURTHER, that these actions shall be effective as of June 5, 2017. By:By:______________________________________________________By:By:______________________________________________________ DonnaDonnaSchmitt, Vice President Schmitt, Vice President ConnieConnieBuesgens, Commissioner Buesgens, Commissioner By:By:______________________________________________________By:By:______________________________________________________ JohnJohnMurzyn, Commissioner Murzyn, Commissioner Gerry Gerry Herringer, Commissioner Herringer, Commissioner By:By:______________________________________________________By: ___________________________By: ___________________________ RobertRobertWilliams, Commissioner Williams, Commissioner NickNickNovitsky, Commissioner Novitsky, Commissioner A Quit Claim Deed will be executed conveying title to the Maksimovichs.A Quit Claim Deed will be executed conveying title to the Maksimovichs. 5 EDA MinutesEDA Minutes Page 6Page 6 June 5, 2017June 5, 2017 BBUSINESS ITEMUSINESS ITEM 1.1.ACHRA LEVY UPDATEACHRA LEVY UPDATE--KAREN SKEPPER, ANOKA COUNTY DIRECTOR KAREN SKEPPER, ANOKA COUNTY DIRECTOR OF OF COMMUNITY AND GOVERNMENT RELATIONSCOMMUNITY AND GOVERNMENT RELATIONS Skepper was present to give the EDA Board an update of ACHRA Levy funds and other Skepper was present to give the EDA Board an update of ACHRA Levy funds and other funding sources that have benefited Columbia Heights. funding sources that have benefited Columbia Heights. She explained that her positionShe explained that her positionwith with Anoka County has three different areas of rAnoka County has three different areas of responsibilities. As the Community Development esponsibilities. As the Community Development Director she receives Federal Funds that must be used to benefit lower income and older Director she receives Federal Funds that must be used to benefit lower income and older housing areas. The CDBG program is an example of housing areas. The CDBG program is an example of this type of funding. She said this type of funding. She said Columbia Heights has received almost Columbia Heights has received almost one million dollars of Federal Funds over the last one million dollars of Federal Funds over the last five years for projects such as contaminated site cleanfive years for projects such as contaminated site clean--sssite, site, the Commercial Revolving Loan Program, funding for the construction of the Circle Terrace the Commercial Revolving Loan Program, funding for the construction of the Circle Terrace Peace Park building,Peace Park building,as well as funding for SACA which serves the residents of Columbia as well as funding for SACA which serves the residents of Columbia Heights. She told members that the amount allocated for the Circle Terrace Park building Heights. She told members that the amount allocated for the Circle Terrace Park building must be spent by the end of 2017. She also oversees the Home Investment Partnership must be spent by the end of 2017. She also oversees the Home Investment Partnership Program that Program that provides funds to build provides funds to build or maintain or maintain affordable housing. affordable housing. SSome of these fundsome of these funds were used at Parkview Villawere used at Parkview Villato do upto do upggrades while the City owned it. Another good program rades while the City owned it. Another good program that benefited the City of Columbia Heightsthat benefited the City of Columbia Heightswas the Neighborhood Stabwas the Neighborhood Stabiilization Program. lization Program. DDuring the downturn in the economy, Anoka County also bought up distressed properties uring the downturn in the economy, Anoka County also bought up distressed properties and either remodeled them or tore them down and built new homes. Out of the 90 homes and either remodeled them or tore them down and built new homes. Out of the 90 homes they purchased in Anoka County, 13 of them were in Columbia Heights. Skepper told they purchased in Anoka County, 13 of them were in Columbia Heights. Skepper told memembers this was mbers this was a very successful program that caused property owners near the new a very successful program that caused property owners near the new homes to also fix up their properties. homes to also fix up their properties. The second part of her job is Government Relations. She said The second part of her job is Government Relations. She said she is part of ashe is part of acommitteecommitteethatthat meets three times a year whereby they meets three times a year whereby they receive Emergency Management Updates, legislative receive Emergency Management Updates, legislative updates, and infrastructure/traffic updates for our state. She is the connection on behalf of updates, and infrastructure/traffic updates for our state. She is the connection on behalf of Anoka County cities to the State Legislators. At the Federal level she serves on a committee Anoka County cities to the State Legislators. At the Federal level she serves on a committee to lobby for Fedeto lobby for Federal Funding to help accomplish goals important to our Cities/County.ral Funding to help accomplish goals important to our Cities/County. The third part of her job is Executive Director of the Anoka County HRA. It was created in The third part of her job is Executive Director of the Anoka County HRA. It was created in rs. rs. Columbia Heights residents do get preference on the waiting lists Columbia Heights residents do get preference on the waiting lists of these buildings of these buildings as they as they are part of Anoka County. are part of Anoka County. Since then the job has evolved and aSince then the job has evolved and as the Executive Director she s the Executive Director she has taken on Economic Development at the County level. A committehas taken on Economic Development at the County level. A committee determined there e determined there was a need for an Economic Development Dept. but did not want to add an additional levy was a need for an Economic Development Dept. but did not want to add an additional levy on the taxpayers for this. An Economic Gardening Program was started that focuses on on the taxpayers for this. An Economic Gardening Program was started that focuses on helpinghelpingsmall businesses to grow. These second stage businesssmall businesses to grow. These second stage businesses participate in information es participate in information forums, networking, and customizing research. Since forums, networking, and customizing research. Since its inception the program has its inception the program has centralized and combined with other counties in the metro area. The Open to Business centralized and combined with other counties in the metro area. The Open to Business Program is part of this program and Columbia Heights has Program is part of this program and Columbia Heights has a person who serves this area on a person who serves this area on a monthly basis. a monthly basis. 6 EDA MinutesEDA Minutes Page 7Page 7 June 5, 2017June 5, 2017 SkepperSkeppersaid she also represents Anoka County in the Greater MSP which works to improve said she also represents Anoka County in the Greater MSP which works to improve the image of the Twin Cities and the State overall in order to draw employees/professionals, the image of the Twin Cities and the State overall in order to draw employees/professionals, and businesses to the area. They especially target medical and technology companand businesses to the area. They especially target medical and technology companies. ies. Skepper said her department is Skepper said her department is not funded by the General Fund, but is not funded by the General Fund, but is funded by the funded by the administrative fees collected by administering the HRA levy dollars. administrative fees collected by administering the HRA levy dollars. Those administrative Those administrative fees pay for her staff to obtain as much Federal, State, and other organfees pay for her staff to obtain as much Federal, State, and other organization funding as ization funding as possible and then to disburse to the cities in Anoka County depending on the criteria of the possible and then to disburse to the cities in Anoka County depending on the criteria of the funding. She told members that Columbia Heights has benefited greatly by receiving funding. She told members that Columbia Heights has benefited greatly by receiving conduit financing to make some big projects work for us, as conduit financing to make some big projects work for us, as well as the CDBG and HOME well as the CDBG and HOME funds that we have received. The City has received a lot more funding for redevelopment funds that we have received. The City has received a lot more funding for redevelopment than what we pay in administrative fees. than what we pay in administrative fees. Fehst said that Skepper has worked well for our City and this must be considered when Fehst said that Skepper has worked well for our City and this must be considered when deciding ondeciding onwhether to continue in ACHRA for the next five years. One example he used is whether to continue in ACHRA for the next five years. One example he used is the Circle Terrace building. The bids came in $129,000 over the estimate. He said that the Circle Terrace building. The bids came in $129,000 over the estimate. He said that are are already allocated for this project that must be used by year end. already allocated for this project that must be used by year end. Schmitt asked if the City decided to opt out of the ACHRA program if we would still be Schmitt asked if the City decided to opt out of the ACHRA program if we would still be eligible to receive any of the State and Federal eligible to receive any of the State and Federal funding programs. Skepper said we would funding programs. Skepper said we would still still be eligible for the Federal programs, but not the local or State funds or any of the be eligible for the Federal programs, but not the local or State funds or any of the economic business programs.economic business programs. Herringer asked if we opted out what happens to the funds that have been collected, but not Herringer asked if we opted out what happens to the funds that have been collected, but not legal answer to that question. Schmitt legal answer to that question. Schmitt asked how many cities participate in ACHRA and that let the County administer the funds. asked how many cities participate in ACHRA and that let the County administer the funds. Skepper said that currently 17 of the 21 cities are members of the ACHRA. East Bethel, Skepper said that currently 17 of the 21 cities are members of the ACHRA. East Bethel, Coon Rapids, Anoka, and Blaine do notCoon Rapids, Anoka, and Blaine do not. However . However a couple a couple of the cities purchase some of of the cities purchase some of the services, so they pay a fee also.the services, so they pay a fee also. Dahl said that we need to make a decision about his by August on whether to participate for Dahl said that we need to make a decision about his by August on whether to participate for another five years. This is part of our budgeting process which is why stanother five years. This is part of our budgeting process which is why staff wanted Skepper aff wanted Skepper to come and explain what the County does to help us and the benefits we receive.to come and explain what the County does to help us and the benefits we receive. Schmitt asked Skepper to provide a breakdown of what monies the City has received over Schmitt asked Skepper to provide a breakdown of what monies the City has received over the last five years, and if they were from Federal programs or Statethe last five years, and if they were from Federal programs or Stateand local ones. Skepper and local ones. Skepper said she draft something up although some of the it would be estimates since various said she draft something up although some of the it would be estimates since various funding sources may have been used. funding sources may have been used. EDA MinutesEDA Minutes Page Page 88 June 5, 2017June 5, 2017 2.2.CENTRAL AVE COMMERCIAL REVITALIZATION PROJECT UPDATECENTRAL AVE COMMERCIAL REVITALIZATION PROJECT UPDATE On May 1, 201On May 1, 2017, the Columbia Heights Economic Development Authority (EDA) discussed 7, the Columbia Heights Economic Development Authority (EDA) discussed three alternative funding scenarios due to the need for increased capital to fund planned projects three alternative funding scenarios due to the need for increased capital to fund planned projects and programs for the revitalization of the commercial corridor along Central Avenue. Aand programs for the revitalization of the commercial corridor along Central Avenue. And, of nd, of these three scenarios presented, Commission Members directed staff to pursue Scenario B, which these three scenarios presented, Commission Members directed staff to pursue Scenario B, which would effectively maximize the fund sources available to the EDA. The following information is would effectively maximize the fund sources available to the EDA. The following information is to provide Commission Members with a project update, as welto provide Commission Members with a project update, as well as an overview of the Central l as an overview of the Central Avenue Commercial Revitalization Project. Avenue Commercial Revitalization Project. Scenario B Scenario B Maximize Fund Sources: Maximize Fund Sources: Participate in the ACHRA economic development activities for another five (5) yearsParticipate in the ACHRA economic development activities for another five (5) years Increase the 2017 EDA levy to the statutory levy limitIncrease the 2017 EDA levy to the statutory levy limit development activates. The EDA would be able to maximize its fund sources by participating in development activates. The EDA would be able to maximize its fund sources by participating in the ACHRA for another five (5) years and increasing the EDA levy from .0074188% the ACHRA for another five (5) years and increasing the EDA levy from .0074188% to the to the statutory levy limit of .01813%. Based on the figures in the table below, the EDA would realize a statutory levy limit of .01813%. Based on the figures in the table below, the EDA would realize a fund increase in the amount of $121,280. Thus, bringing the total of annual funds available to the fund increase in the amount of $121,280. Thus, bringing the total of annual funds available to the EDA for housing and economic development activates tEDA for housing and economic development activates to $259,257.10. The impact to tax payers o $259,257.10. The impact to tax payers would account for a property tax increase of $20 would account for a property tax increase of $20 --$25 annually for a resident who owns a $25 annually for a resident who owns a property at an estimated market value of $200,000.property at an estimated market value of $200,000. HRA LevyHRA LevyEDA LevyEDA LevyACHRA LevyACHRA Levy Levy PercentageLevy Percentage.0185 %.0185 %.01813 %.01813 %N/AN/A Levy Levy AmountAmount$ 209,468.00$ 209,468.00$ 205,280.00$ 205,280.00$ 137,977.10$ 137,977.10 Amount of ChangeAmount of ChangeN/AN/A$ 121,280.00$ 121,280.00N/AN/A *Note: The figures in the table above were calculated using the 2016 levies (Payable in 2017).*Note: The figures in the table above were calculated using the 2016 levies (Payable in 2017). The total cost of the Central Avenue Commercial Revitalization Project The total cost of the Central Avenue Commercial Revitalization Project will be approximately will be approximately $3,922,089.65. And, staff anticipates that this project will be an ongoing effort for the EDA over $3,922,089.65. And, staff anticipates that this project will be an ongoing effort for the EDA over the course of the next five (5) ten (10) years. Based on the total project cost and the projected the course of the next five (5) ten (10) years. Based on the total project cost and the projected funds that will be available to the Efunds that will be available to the EDA by maximizing the fund sources over the course of the DA by maximizing the fund sources over the course of the next five (5) to ten (10) years, staff has prepared the following infographics to help explain how next five (5) to ten (10) years, staff has prepared the following infographics to help explain how the EDA will fund the Central Avenue Commercial Revitalization Project.the EDA will fund the Central Avenue Commercial Revitalization Project. 8 EDA MinutesEDA Minutes Page 9Page 9 June 5June 5, 2017, 2017 Questions/comments from members:Questions/comments from members: Szurek said if we stay with ACHRA, it would pay for most of the estimated expenses.Szurek said if we stay with ACHRA, it would pay for most of the estimated expenses. Schmitt asked if the graphs include any federal funding or other external funding . Dahl said it did Schmitt asked if the graphs include any federal funding or other external funding . Dahl said it did not.not. Williams asked if we Williams asked if we had to make a decision tonight about continuing with ACHRA. Dahl said the had to make a decision tonight about continuing with ACHRA. Dahl said the Herringer said it is hard to project 10 years out, as a lot can happen to have an impact on the Herringer said it is hard to project 10 years out, as a lot can happen to have an impact on the proposed plan.proposed plan. Buesgens thoughtBuesgens thoughtwe should go for full funding and invest in the community and small businesses we should go for full funding and invest in the community and small businesses while we have options of funding.while we have options of funding. 3.3.SELECT REAL ESTATE AGENT FOR AN EXCLUSIVE RIGHT TO REPRESENTSELECT REAL ESTATE AGENT FOR AN EXCLUSIVE RIGHT TO REPRESENT Dahl explained that oDahl explained that on May 1, 2017, the Columbia Heights Economic Developmenn May 1, 2017, the Columbia Heights Economic Development Authority t Authority (EDA) directed staff to request exclusive representation proposals from local real estate agents or (EDA) directed staff to request exclusive representation proposals from local real estate agents or groups to assist with acquisition of legal nongroups to assist with acquisition of legal non--conforming residential structures along Central conforming residential structures along Central Avenue. Staff received three proposals from threeAvenue. Staff received three proposals from threelocal real estate groups that exclusively local real estate groups that exclusively represent residential buyers. All three real estate groups are prevalent throughout Northeast represent residential buyers. All three real estate groups are prevalent throughout Northeast Minneapolis and Columbia Heights and are knowledgeable of the residential market trends in the Minneapolis and Columbia Heights and are knowledgeable of the residential market trends in the area. Below are the threarea. Below are the three real estate agents and groups that submitted a proposal to staff in no e real estate agents and groups that submitted a proposal to staff in no particular order. All proposals received are available in the particular order. All proposals received are available in the Community Development Department for review, due to the quantity and documentation type Community Development Department for review, due to the quantity and documentation type staff is not including the propstaff is not including the proposals in the packet.osals in the packet. Mark and Liz Grotewold Mark and Liz Grotewold Edina Realty, Inc. Edina Realty, Inc. Pete T. Heryla & John M. Rockwell Pete T. Heryla & John M. Rockwell RE/MAX Synergy RE/MAX Synergy Tam Le, Viet Le & Dan Baltzer Tam Le, Viet Le & Dan Baltzer Pinnacle Realty Team Pinnacle Realty Team Dahl told members that our legal counsel advised that dDahl told members that our legal counsel advised that due to the Federal Relocatioue to the Federal Relocation Act and the n Act and the Minnesota Version of the Uniform Relocation Act, government agencies are responsible for Minnesota Version of the Uniform Relocation Act, government agencies are responsible for relocation fees if they are proactive in acquisition of industrial, commercial or residential relocation fees if they are proactive in acquisition of industrial, commercial or residential property. Tenant occupants may not waive their right to relproperty. Tenant occupants may not waive their right to relocation fees, but Owner occupants ocation fees, but Owner occupants may waive their right to relocation fees if the owner is proactive by reaching out to the may waive their right to relocation fees if the owner is proactive by reaching out to the government agency or the owner lists their property on the open market. Thus, whoever is government agency or the owner lists their property on the open market. Thus, whoever is selected to represent the EDA in acquisitioselected to represent the EDA in acquisition of legal nonn of legal non--conforming residential properties along conforming residential properties along Central Avenue, there will be strict rules that will need to be followed in order for the EDA to Central Avenue, there will be strict rules that will need to be followed in order for the EDA to not pay relocation fees. not pay relocation fees. 9 EDA MinutesEDA Minutes Page 10Page 10 June 5, 12017June 5, 12017 Staff recommends that the EDA select Pete T. Heryla & John M. Rockwell Staff recommends that the EDA select Pete T. Heryla & John M. Rockwell RE/MAX Synergy RE/MAX Synergy based upon their proposal submitted and their previous work experience with government based upon their proposal submitted and their previous work experience with government agencies.agencies.Our legal counsel will help with language of what can be said or done,Our legal counsel will help with language of what can be said or done,or how much or how much contact contact there can bethere can beto avoid paying relocation fees. to avoid paying relocation fees. Questions/comments from members:Questions/comments from members: Schmitt asked for a summary of the bids. Dahl said thaSchmitt asked for a summary of the bids. Dahl said thattEdina Realty Edina Realty would charge 2.7% would charge 2.7% commission, but had no experience with government transactions or the constraints they have to commission, but had no experience with government transactions or the constraints they have to operate in. ReMax would charge 3.15% and has worked with us in the past so they have operate in. ReMax would charge 3.15% and has worked with us in the past so they have experience with government transactions. Pinnacle Realtyexperience with government transactions. Pinnacle Realtywould charge 5% commission and would charge 5% commission and our legal counsel.our legal counsel. Schmitt asked how they can really help us. Dahl said they get quicker notice of MLS listings Schmitt asked how they can really help us. Dahl said they get quicker notice of MLS listings and since theyand since theyhave a license they can have a license they can take immediate action on behalf of the City. take immediate action on behalf of the City. Motion byMotion byBuesgens,Buesgens,seconded byseconded byHerringerHerringer, to engage the services of Pete T. Heryla & John M. , to engage the services of Pete T. Heryla & John M. Rockwell Rockwell RE/MAX Synergy to represent the Columbia Heights Economic Development RE/MAX Synergy to represent the Columbia Heights Economic Development AuthoritAuthority in the acquisition of residential structures along Central Avenue NE and direct staff to y in the acquisition of residential structures along Central Avenue NE and direct staff to prepare an Exclusive Representation Agreement for consideration at the July 10, 2017 EDA prepare an Exclusive Representation Agreement for consideration at the July 10, 2017 EDA meeting. All ayes. MOTION PASSED.meeting. All ayes. MOTION PASSED. 4.4.SSINGLE FAMILY HOMEINGLE FAMILY HOMEPROGRAMPROGRAM--CONCEPT CONCEPT APPLICATION FOR 4647 APPLICATION FOR 4647 TYLER ST.TYLER ST. Dahl told members that tDahl told members that t has received a completed concept application from Tollberg Homes offering $22,500 for the has received a completed concept application from Tollberg Homes offering $22,500 for the purchase of the property located at 4647 Tyler purchase of the property located at 4647 Tyler the Single Family Home Lot Sales Program, which was established by the EDA in 2015 to the Single Family Home Lot Sales Program, which was established by the EDA in 2015 to stabilize and increase property values in the Heritage Heights Neighborhood. stabilize and increase property values in the Heritage Heights Neighborhood. n the estimated market land value for each individual n the estimated market land value for each individual property, but the EDA has the right and authority to review and adjust lot prices periodically property, but the EDA has the right and authority to review and adjust lot prices periodically provided that sufficient evidence supports the lots price reduction. provided that sufficient evidence supports the lots price reduction. The 2017 Estimated Market Land ValueThe 2017 Estimated Market Land Valuefor this particular property is $38,600. However, in for this particular property is $38,600. However, in speaking with various home builders and realtors, staff received comments that the lots located speaking with various home builders and realtors, staff received comments that the lots located in the Heritage Heights neighborhood, are generally lower in value than other properties in the Heritage Heights neighborhood, are generally lower in value than other properties throughout the Cithroughout the City. Furthermore, the Public Works Department has confirmed that there was a ty. Furthermore, the Public Works Department has confirmed that there was a 10 EDA MinutesEDA Minutes Page 11Page 11 June 5, 2017June 5, 2017 water main break at the Subject Property, which resulted in the sewer and water lines being water main break at the Subject Property, which resulted in the sewer and water lines being disconnected at the main. Thus, the offer from disconnected at the main. Thus, the offer from Tollberg Homes of $22,500 is around what the Tollberg Homes of $22,500 is around what the EDA can expect to sell this property for. EDA can expect to sell this property for. Dahl said that Tollberg has paid approximately Dahl said that Tollberg has paid approximately $18,500 for the other parcels he purchased from the City, so he has increased his offer for this $18,500 for the other parcels he purchased from the City, so he has increased his offer for this property even though thproperty even though there will be additional expense for the water and sewer work.ere will be additional expense for the water and sewer work. Along with a completed concept application, Tollberg Homes has submitted a written letter of Along with a completed concept application, Tollberg Homes has submitted a written letter of intent, pictures of a previous home built, and an example house plan. The example house plan is intent, pictures of a previous home built, and an example house plan. The example house plan is a repa representation of what Tollberg Homes intends to construct on the Property and should be resentation of what Tollberg Homes intends to construct on the Property and should be reviewed based upon the features present. reviewed based upon the features present. Dahl told members that the final plan will be brought Dahl told members that the final plan will be brought before the members at the next meeting. The garage will probably be locatbefore the members at the next meeting. The garage will probably be located in the back due to ed in the back due to the width of the lot.the width of the lot. Staff recommends approval of the concept application submitted by Tollberg Homes as Staff recommends approval of the concept application submitted by Tollberg Homes as presented. presented. Questions/comments from members:Questions/comments from members: Schmitt asked if there had been any complaints on Tollberg during construction Schmitt asked if there had been any complaints on Tollberg during construction of his other of his other properties. Dahl said the only complaints have been from Public Works due to a lack of erosion properties. Dahl said the only complaints have been from Public Works due to a lack of erosion control. control. One of the other homes under construction had dirt going into the sewer system and One of the other homes under construction had dirt going into the sewer system and they had to pay to have it cleaned out. They have mathey had to pay to have it cleaned out. They have made corrections to prevent this from de corrections to prevent this from happening again. happening again. MoMotion bytion byWilliams,Williams,seconded byseconded byBuesgens, Buesgens, to approve the concept application submitted by to approve the concept application submitted by Tollberg Homes for the property located at 4647 Tyler Street NE, Columbia Heights, MN 55421. Tollberg Homes for the property located at 4647 Tyler Street NE, Columbia Heights, MN 55421. All ayes.All ayes.MOTION PASSED.MOTION PASSED. MoMotion by tion by WilliamsWilliams, seconded by, seconded byBuesgensBuesgens,,to authorize staff to work with Tollberg Homes to to authorize staff to work with Tollberg Homes to determine specific house plans and to prepare a Purchase and Redevelopment Agreement for determine specific house plans and to prepare a Purchase and Redevelopment Agreement for consideration at the next EDA meeting on July 10, 2017.consideration at the next EDA meeting on July 10, 2017.AlAll ayes. MOTION PASSED.l ayes. MOTION PASSED. 5.5.2017 EDA LEVY INCREASE2017 EDA LEVY INCREASE Dahl stated that oDahl stated that on May 1, 2017, the Columbia Heights Economic Development Authority n May 1, 2017, the Columbia Heights Economic Development Authority (EDA) determined a need to increase the EDA levy to the state statute limit of .01813%. (EDA) determined a need to increase the EDA levy to the state statute limit of .01813%. Pursuant to State Statue 469.10Pursuant to State Statue 469.107, Subd. 1 and 2, the city may increase its levy for economic 7, Subd. 1 and 2, the city may increase its levy for economic development authority purposes, subject to a reverse referendum. Thus, at the request of the development authority purposes, subject to a reverse referendum. Thus, at the request of the EDA by resolution, the City Council will need to pass a resolution stating the proposed amount EDA by resolution, the City Council will need to pass a resolution stating the proposed amount of levof levy increase as well and to establish a public hearing two to four weeks after. y increase as well and to establish a public hearing two to four weeks after. AAresolution resolution that servethat servessas a recommendation to City Council for approving a levy increase of the Economic as a recommendation to City Council for approving a levy increase of the Economic Development AuthorityDevelopment Authoritywas included in the packetwas included in the packet..Dahl said we need Dahl said we need to establish the hearing to establish the hearing now since it takes two months to process.now since it takes two months to process. 11 EDA MinutesEDA Minutes Page Page 1212 June 5, 2017June 5, 2017 Staff recommends approval of the EDA levy increase as presented. Staff recommends approval of the EDA levy increase as presented. Questions/comments by members:Questions/comments by members: There were no questions.There were no questions. Motion byMotion byBuesgensBuesgens, seconded, secondedbybyWilliamsWilliams, to waive the reading of Resolutions 2017, to waive the reading of Resolutions 2017--14, there 14, there being ample copies available to the public. All ayes. MOTION PASSED.being ample copies available to the public. All ayes. MOTION PASSED. Motion by Motion by BuesgensBuesgens, seconded by, seconded byWilliamsWilliams, to approve Resolution 2017, to approve Resolution 2017--14, resolution of the 14, resolution of the Economic Development AuthoriEconomic Development Authority in and for Columbia Heights, Minnesota, approving a tax levy ty in and for Columbia Heights, Minnesota, approving a tax levy increase. All ayes. MOTION PASSED.increase. All ayes. MOTION PASSED. RESOLUTION NO. 2017RESOLUTION NO. 2017--1414 A RESOLUTION OF THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT A RESOLUTION OF THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, REQUESTING A TAX LEVY INCREASE BY THE CITY OF COLUMBIA AUTHORITY, REQUESTING A TAX LEVY INCREASE BY THE CITY OF COLUMBIA HEIGHTS FOR ECONOMIC DEVELOPMENT PURPOSES.HEIGHTS FOR ECONOMIC DEVELOPMENT PURPOSES. BE IT RESOLVEDBE IT RESOLVED follows:follows: WHEREAS,WHEREAS, Development Authority bDevelopment Authority by an enabling resolution adopted on January 8, 1996, pursuant to Minnesota y an enabling resolution adopted on January 8, 1996, pursuant to Minnesota WHEREAS,WHEREAS, the City Council of the City has given to the EDA the responsibility for all development the City Council of the City has given to the EDA the responsibility for all development and redevelopment projects and pand redevelopment projects and programs; andrograms; and WHEREAS,WHEREAS, under Section 469.107 of the EDA Act, the City is authorized to levy a tax for the benefit under Section 469.107 of the EDA Act, the City is authorized to levy a tax for the benefit WHEREASWHEREAS , the City cur, the City cur estimated market value as authorized by the EDA Act; andestimated market value as authorized by the EDA Act; and WHEREASWHEREAS , the City is authorized to increase its EDA Levy to the statutory cap as provided in Section , the City is authorized to increase its EDA Levy to the statutory cap as provided in Section 469.107, subd. 2 of t469.107, subd. 2 of the EDA Act, upon the request of the EDA; andhe EDA Act, upon the request of the EDA; and WHEREASWHEREAS , the EDA desires that the City increase its EDA Levy to $220,100 for taxes payable in , the EDA desires that the City increase its EDA Levy to $220,100 for taxes payable in 12 EDA MinutesEDA Minutes Page 13Page 13 June June 5, 20175, 2017 NOW, THEREFORE BE IT RESOLVED,NOW, THEREFORE BE IT RESOLVED, by the Board of Commissioners of the Columbia Heights by the Board of Commissioners of the Columbia Heights Levy to the amount of $220,100 for taxes payable in 2018, aftLevy to the amount of $220,100 for taxes payable in 2018, after a duly noticed public hearing as er a duly noticed public hearing as provided in the EDA Act; and provided in the EDA Act; and BE IT FURTHER RESOLVED, BE IT FURTHER RESOLVED, thatthatthe Executive Director is instructed to transmit a copy of this the Executive Director is instructed to transmit a copy of this resolution to the City Manager, Finance Director, and City Clerk of the City of Columbia Heights, resolution to the City Manager, Finance Director, and City Clerk of the City of Columbia Heights, Minnesota. Minnesota. ORDER OF ECONOMIC DEVELOPMENT AUTHORITYORDER OF ECONOMIC DEVELOPMENT AUTHORITY Passed this __Passed this __5th5th_______ day of ___________ day of ____JunJunee__________________, 2017__________________, 2017 Offered by:Offered by:BuesgensBuesgens Seconded by:Seconded by:WilliamsWilliams Roll Call:Roll Call:All ayesAll ayes PresidentPresident Attest:Attest: Assistant SecretaryAssistant Secretary OTHER BUSINESS:OTHER BUSINESS: thth Dahl passed out a memo and told members there is a need to hold a special Dahl passed out a memo and told members there is a need to hold a special meeting on June 12meeting on June 12 at 5:45 pm in order to call for Redemption of EDA Lease Revenue bonds to refinance the Series at 5:45 pm in order to call for Redemption of EDA Lease Revenue bonds to refinance the Series 2007B for Liquor Store.2007B for Liquor Store. thth He also told members the next regular meeting would be July 10He also told members the next regular meeting would be July 10at 6:30 pm.at 6:30 pm. The meeting was adjourned The meeting was adjourned aatt8:188:18pm.pm. Respectfully submitted,Respectfully submitted, Shelley Hanson Shelley Hanson Assistant Assistant SecretarySecretary 13 ECONOMIC DEVELOPMENT AUTHORITY (EDA)ECONOMIC DEVELOPMENT AUTHORITY (EDA) MINUTES OF THE MINUTES OF THE SPECIALSPECIALMEETINGMEETINGOFOF JUNE JUNE 1212, 201, 20177 The meeting was called to order at The meeting was called to order at 5:455:45pm by pm by PresidentPresidentSSzurekzurek Members Present:Members Present:Williams, Murzyn, Herringer, Williams, Murzyn, Herringer, SchmittSchmitt,,Novitsky, Novitsky, and Szurekand Szurek Members Absent: Members Absent: BuesgensBuesgens Staff Present:Staff Present:Joseph Joseph Kloiber,Kloiber,and Joseph and Joseph HogeboomHogeboom PLEDGE OF ALLEGIANCEPLEDGE OF ALLEGIANCE-- RECITEDRECITED BUSINESS ITEMSBUSINESS ITEMS 1.1.CALL FOR REDEMPTION OF PUBLIC FACILITIES LEASE REVENUE CALL FOR REDEMPTION OF PUBLIC FACILITIES LEASE REVENUE BONDSBONDS--RESOLUTION 2017RESOLUTION 2017--1515 achieve a lower interest rate and save money on its achieve a lower interest rate and save money on its debt service payments. The City will issue debt service payments. The City will issue proceeds of the Refunding Bonds to pay off the outstanding principal and accrued interest on the proceeds of the Refunding Bonds to pay off the outstanding principal and accrued interest on the Municipal Liquor StMunicipal Liquor Stores Bonds. The City Charter requires a 30ores Bonds. The City Charter requires a 30--day reverse referendum period day reverse referendum period after publication of a City ordinance authorizing the issuance of bonds. If the City receives a after publication of a City ordinance authorizing the issuance of bonds. If the City receives a valid petition within the 30valid petition within the 30--day period, it may not issue its bonds without an electiday period, it may not issue its bonds without an election. The City on. The City published its ordinance authorizing the Refunding Bonds on May 12, 2017, and thus the 30published its ordinance authorizing the Refunding Bonds on May 12, 2017, and thus the 30--day day petition period expires on Sunday, June 11. The City plans to award the sale of the Refunding petition period expires on Sunday, June 11. The City plans to award the sale of the Refunding Bonds on Monday, June 12, and will receive proceeds onBonds on Monday, June 12, and will receive proceeds on redeem the Municipal Liquor Stores Bonds, the EDA is required to notify the bondholders at redeem the Municipal Liquor Stores Bonds, the EDA is required to notify the bondholders at least 30 days before the date of rleast 30 days before the date of redemption. Thus, the EDA must adopt a resolution authorizing edemption. Thus, the EDA must adopt a resolution authorizing notification of the bondholders and calling for the redemption of the Municipal Liquor Store notification of the bondholders and calling for the redemption of the Municipal Liquor Store Bonds on August 1, 2017. Bonds on August 1, 2017. Staff recommends approval of Resolution 2017Staff recommends approval of Resolution 2017--15 as presented. 15 as presented. Questions Questions from members:from members: Herringer asked what the regular term is for liquor bonds. Kloiber told him it is 11 years. Herringer asked what the regular term is for liquor bonds. Kloiber told him it is 11 years. 14 EDA MinutesEDA Minutes Page 2Page 2 June 12, 2017June 12, 2017 Williams said it is a good plan to sell the bonds as the rates will go up next year.Williams said it is a good plan to sell the bonds as the rates will go up next year. MoMotion bytion byWilliamsWilliams, seco, seconded bynded bySchmittSchmitt,,to waive the reading of Resolution 2017to waive the reading of Resolution 2017--15, there 15, there being ample copies available to the public.being ample copies available to the public.All ayes. MOTION PASSED.All ayes. MOTION PASSED. MoMotion bytion byWilliamsWilliams, seconded by , seconded by NovitskyNovitsky,,to adopt Resolution 2017to adopt Resolution 2017--15, a resolution consenting 15, a resolution consenting to the redemption and to the redemption and Bonds, series 2007B (Municipal Liquor Store Project).Bonds, series 2007B (Municipal Liquor Store Project).All ayes. MOTION PASSED.All ayes. MOTION PASSED. COLUMBIA HEIGHTS COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. RESOLUTION NO. 20172017--1515 A RESOLUTION A RESOLUTION CONSENTING TO THE RCONSENTING TO THE REDEMPTION AND PREPAYMENT EDEMPTION AND PREPAYMENT REVENUE BONDS, SERIES 2007B (MUNICIPAL LIQUOR STORES PROJECT)REVENUE BONDS, SERIES 2007B (MUNICIPAL LIQUOR STORES PROJECT) BE IT RESOLVED By the BE IT RESOLVED By the Board of Commissioners of the Columbia Heights Board of Commissioners of the Columbia Heights Economic Economic ,,as follows:as follows: Section 1.Section 1.RecitalsRecitals.. 1.01.1.01.Pursuant to a Mortgage and Security Agreement and Trust Indenture, dated as of Pursuant to a Mortgage and Security Agreement and Trust Indenture, dated as of hority issued its Public Facility Lease Revenue Bonds, Series 2007B hority issued its Public Facility Lease Revenue Bonds, Series 2007B aggregate principal amount of $5,040,000. The proceeds of the Authority Bonds were useaggregate principal amount of $5,040,000. The proceeds of the Authority Bonds were used to provide d to provide The Authority acquired a leasehold interest in the The Authority acquired a leasehold interest in the real real property on which the Improvements were coproperty on which the Improvements were copursuant to pursuant to aaGround Lease, dated as Ground Lease, dated as of of September 1, 2007September 1, 2007The The Authority Authority pursuant to a Leasepursuant to a Lease-- Authority, as lessor, and the City, as lessee. Authority, as lessor, and the City, as lessee. 1.02.1.02.Section 8.1 of the Lease permits the City to purchase the Site Section 8.1 of the Lease permits the City to purchase the Site and the Improvements at and the Improvements at any tany timeime, in accordance with , in accordance with Article VArticle Vof the Lease. Pursuant to Section of the Lease. Pursuant to Section 5.55.5of the Lease, the City may of the Lease, the City may purchase all or a portion of the Site purchase all or a portion of the Site and the Improvements and the Improvements bybydepositing funds to the Trustee for deposit depositing funds to the Trustee for deposit in the Bond Fund established under the Indenture ain the Bond Fund established under the Indenture and applied to the payment of principal of and interest nd applied to the payment of principal of and interest on the Authority Bonds. on the Authority Bonds. 15 EDA MinutesEDA Minutes Page 3Page 3 June 12, 2017June 12, 2017 1.03.1.03.Pursuant to a resolution to be considered by the City Council of the City on the date Pursuant to a resolution to be considered by the City Council of the City on the date has determined to exercise its option to prepay the Authority has determined to exercise its option to prepay the Authority Bonds in order to acquire the Site and the Improvements. Section 8.2 of the Lease requires that the City Bonds in order to acquire the Site and the Improvements. Section 8.2 of the Lease requires that the City give notice to the Authority of its intention to exercise its option to prepay the Leasegive notice to the Authority of its intention to exercise its option to prepay the LeasePayments and Payments and acquire the Site and the Improvements at least fortyacquire the Site and the Improvements at least forty--five (45) days in advance of the date of prepayment five (45) days in advance of the date of prepayment 6, 2017. In order to prepay the6, 2017. In order to prepay theLease Payments and acquire the Site and the Improvements from the Lease Payments and acquire the Site and the Improvements from the Authority, the City will issue its General Obligation Refunding Bonds, SeriesAuthority, the City will issue its General Obligation Refunding Bonds, Series in the aggregate principal amount of approximately $3,375,000. Proceeds of the City in the aggregate principal amount of approximately $3,375,000. Proceeds of the City Bonds will be used Bonds will be used to redeem and prepay the outstanding Authority Bonds in an amount sufficient to prepay the Lease to redeem and prepay the outstanding Authority Bonds in an amount sufficient to prepay the Lease Payments.Payments. 1.01.044..The Authority Bonds are currently outstanding in the aggregate principal amount of The Authority Bonds are currently outstanding in the aggregate principal amount of $3,700,000 and are callable on February$3,700,000 and are callable on February1, 2017, at a price of par plus accrued interest. Pursuant to the 1, 2017, at a price of par plus accrued interest. Pursuant to the City Resolution, the City will request that the Authority consent to and call the Authority Bonds for City Resolution, the City will request that the Authority consent to and call the Authority Bonds for f the Lease.f the Lease. Section 2.Section 2.Redemption of Authority BondsRedemption of Authority Bonds.. 2.01.2.01.It is determined that it is in the best interests of the sound financial management of the It is determined that it is in the best interests of the sound financial management of the Authority and the City that the principal amount of the Authority Bonds coming due on FebruaryAuthority and the City that the principal amount of the Authority Bonds coming due on February1,1,2018 2018 and thereafter, comprising all of the Authority Bond subject to redemption, be prepaid and redeemed on and thereafter, comprising all of the Authority Bond subject to redemption, be prepaid and redeemed on the Redemption Date (or on the first date thereafter for which the registrar for the Authority Bonds (the the Redemption Date (or on the first date thereafter for which the registrar for the Authority Bonds (the olders of the Authority Bonds), and the Authority Bonds olders of the Authority Bonds), and the Authority Bonds are hereby called for redemption on that date in the aggregate principal amount of $3,700,000, subject to are hereby called for redemption on that date in the aggregate principal amount of $3,700,000, subject to adoption by the City of the City Resolution.adoption by the City of the City Resolution. 2.022.02..The Registrar is authorized and directed tThe Registrar is authorized and directed to mail notice of call for redemption of the o mail notice of call for redemption of the Authority BondsAuthority Bondsin the form attached hereto as in the form attached hereto as EXHIBITEXHIBITA to the regiA to the registered ownerstered ownerof of thetheAuthority Authority BondsBondsto be redeemed at the address shown on the registration books kept by the Registrar.to be redeemed at the address shown on the registration books kept by the Registrar. 2.03.2.03.Officials of theOfficials of theAuthority are authorized and directed to take all actions and execute any Authority are authorized and directed to take all actions and execute any documents necessary to carry out redemption of the Authority Bonds, the satisfaction of related documents necessary to carry out redemption of the Authority Bonds, the satisfaction of related documents, and the conveyance of fee title to the Site and the Improvements to the Cidocuments, and the conveyance of fee title to the Site and the Improvements to the City as of the ty as of the Redemption Date.Redemption Date. Adopted by the Board of Commissioners of the Columbia Heights Economic Development Adopted by the Board of Commissioners of the Columbia Heights Economic Development thth Authority this 12Authority this 12day of June, 2017.day of June, 2017. By By Its PresidentIts President Attest:Attest: By By Its Executive DirectorIts Executive Director 16 EDA MinutesEDA Minutes Page 4Page 4 June 12, 2017June 12, 2017 EXHIBIT AEXHIBIT A NOTICE OF CALL FOR REDEMPTIONNOTICE OF CALL FOR REDEMPTION $$5,0405,040,000,000 COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITYCOLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY PUBLIC FACILITY LEASE REVENUE BONDSPUBLIC FACILITY LEASE REVENUE BONDS SERIES 2007BSERIES 2007B (MUNICIPAL LIQUOR STORES PROJECT)(MUNICIPAL LIQUOR STORES PROJECT) NOTICE IS HEREBY GIVEN that, by order of the NOTICE IS HEREBY GIVEN that, by order of the Board of Commissioners of the Board of Commissioners of the Columbia Columbia there have been called for redemption and there have been called for redemption and prepayment onprepayment on August 1, 2017August 1, 2017 all outstanding bonds of the all outstanding bonds of the AuthorityAuthoritydesignated as designated as Public Facility Lease Revenue Bonds, Series 2007B Public Facility Lease Revenue Bonds, Series 2007B (Municipal Liq(Municipal Liquor Stores Project)uor Stores Project), dated , dated September 19, 2007September 19, 2007, having stated maturity dates of February, having stated maturity dates of February11 in the years 20in the years 202020through 20through 20330, both inclusive, totaling $0, both inclusive, totaling $3,7003,700,000 in principal amount, and with the ,000 in principal amount, and with the following CUSIP numbers:following CUSIP numbers: Year of MaturityYear of MaturityAmountAmountCUSIPCUSIP 20202020$$650,000650,00019768P AL019768P AL0 20232023755,000755,00019768P AP119768P AP1 202720271,210,0001,210,00019768P AT319768P AT3 203020301,085,0001,085,00019768P AW619768P AW6 U.S. Bank National AssociationU.S. Bank National Association Corporate Trust ServicesCorporate Trust Services 111 Fillmore Avenue East111 Fillmore Avenue East St. Paul, MN 55107St. Paul, MN 55107 Important Notice: Important Notice: In compliance with the Economic Growth and Tax Relief Reconciliation Act of In compliance with the Economic Growth and Tax Relief Reconciliation Act of 20020033, the paying agent , the paying agent is required to withhold a specified percentage of the principal amount of the is required to withhold a specified percentage of the principal amount of the redemption price payable to the holder of any bonds subject to redemption and prepayment on the redemption price payable to the holder of any bonds subject to redemption and prepayment on the redemption date, unless the paying agent is provided with the Social Security Numbredemption date, unless the paying agent is provided with the Social Security Number or Federal er or Federal Employer Identification Number of the holder, properly certified. Submission of a fully executed Request Employer Identification Number of the holder, properly certified. Submission of a fully executed Request for Taxpayer Identification Number and Certification, Form Wfor Taxpayer Identification Number and Certification, Form W--9 (Rev. December 2011), will satisfy the 9 (Rev. December 2011), will satisfy the requirements of this paragraph.requirements of this paragraph. OTHER BUSINESS:OTHER BUSINESS: thth HHogeboomogeboomalso told members the next regular meeting would be July 10also told members the next regular meeting would be July 10at 6:30 pm.at 6:30 pm. The meeting was adjourned The meeting was adjourned aatt5:525:52pm.pm. Respectfully submitted,Respectfully submitted, Joseph HogeboomJoseph Hogeboom Acting SecretaryActing Secretary 18 RESOLUTION RESOLUTION NO. NO. 20120177--1166 A A RResolution of the esolution of the Economic Development Authority Economic Development Authority of Columbia Heights, Minnesota, of Columbia Heights, Minnesota, Approving the Approving the Financial Statements for Month of Financial Statements for Month of MayMay 20120177 and the Payment of the Bills for the Month of and the Payment of the Bills for the Month of MayMay 20120177.. WHEREASWHEREAS,, the Columbia Heights Economic Development Authority (EDA) is required by Minnesota Statutes the Columbia Heights Economic Development Authority (EDA) is required by Minnesota Statutes Section 469.096, Subd. 9, to prepare a detailed financial statement which shows all receipts and Section 469.096, Subd. 9, to prepare a detailed financial statement which shows all receipts and disbursements, their nature, the money on hand, the purposes to whidisbursements, their nature, the money on hand, the purposes to which the money on hand is to be applied, ch the money on hand is to be applied, the EDA's credits and assets and its outstandthe EDA's credits and assets and its outstanding liabilities; anding liabilities; and WHEREAS,WHEREAS, said Statute also requires the EDA to examine the statement and treasurer's vouchers or bills and if said Statute also requires the EDA to examine the statement and treasurer's vouchers or bills and if correct, to approve them by resolution correct, to approve them by resolution and enter the resolution in its records; andand enter the resolution in its records; and WHEREAS, WHEREAS, the financial statement for the the financial statement for the month month of of MayMay 20120177 has been reviewed by the EDA Commission; has been reviewed by the EDA Commission; and and WHEREAS, WHEREAS, the EDA has examined the financial statements and finds them to be acceptable as to both form the EDA has examined the financial statements and finds them to be acceptable as to both form aand accuracy; and nd accuracy; and WHEREAS, WHEREAS, the EDA Commission has other means to verify the intent of Section 469.096, Subd. 9, including the EDA Commission has other means to verify the intent of Section 469.096, Subd. 9, including but not limited to Comprehensive Annual Financial Reports, Annual City approved Budgets, Audits and similar but not limited to Comprehensive Annual Financial Reports, Annual City approved Budgets, Audits and similar documentation; and documentation; and WHERWHEREAS,EAS, NOW, THEREFORE BE IT RESOLVEDNOW, THEREFORE BE IT RESOLVED by the Board of Commissioners of the Columbia Heights Economic by the Board of Commissioners of the Columbia Heights Economic Development AuthDevelopment Authority that it has examined the referenced financial statements including the check history, ority that it has examined the referenced financial statements including the check history, and they are found to be correct, as to form and content; and and they are found to be correct, as to form and content; and BE IT FURTHER RESOLVED BE IT FURTHER RESOLVED the financial statements are acknowledged and received and the check historythe financial statements are acknowledged and received and the check history as as presented in writing is approved for payment out of proper funds; andpresented in writing is approved for payment out of proper funds; and BE IT FURTHER RESOLVED BE IT FURTHER RESOLVED this resolution is made a part of the permanent records of the Columbia Heights this resolution is made a part of the permanent records of the Columbia Heights Economic Development Authority.Economic Development Authority. ORDER OF ORDER OF ECONOMIC DEVELOPMENT AUTHORITYECONOMIC DEVELOPMENT AUTHORITY PassePassed this _________ dayd this _________ day of ______________________, 201of ______________________, 20177 Offered by:Offered by: Seconded by:Seconded by: Roll Call:Roll Call: PresidentPresident Attest:Attest: SecretarySecretary 19 Resolution Resolution 20172017--1166 52 AGENDA SECTIONAGENDA SECTION PUBLIC HEARINGPUBLIC HEARING ITEM NO.ITEM NO. 66 MEETING DATEMEETING DATE JULY 10JULY 10, 201, 20177 CITY CITY OF COLUMBIA HEIGHTS OF COLUMBIA HEIGHTS ECONOMIC DEVELOPMENTECONOMIC DEVELOPMENT AUTHORITYAUTHORITY ITEM:ITEM:Single Family Home Program Single Family Home Program Final SaleFinal Sale Approval 46Approval 464747 TylerTyler StreetStreet NENE DEPARTMENT:DEPARTMENT: Community DevelopmentCommunity Development BYBY/D/DATEATE:: Keith M. DahlKeith M. Dahl, , JuneJune 2299, 201, 20177 BYBY/D/DATEATE:: BACKGROUND:BACKGROUND: On June 5, 2017, tOn June 5, 2017, the Columbia he Columbia Heights Heights EEconomic conomic DDevelopment evelopment AAuthority (uthority (EDAEDA)) approved the concept approved the concept application submitted byapplication submitted by Tollberg Homes Tollberg Homes offering $2offering $222,,5500 00 for the purchase of the property located at 4647 for the purchase of the property located at 4647 TylerTyler Subject Subject The The Subject Subject Property is Property is approximately 0.approximately 0.1717 acres, and is acres, and is part of the part of the Single Family Home Lot Sales ProgramSingle Family Home Lot Sales Program, which was, which was established established by the EDA by the EDA in 2015in 2015 to stabilize and increase to stabilize and increase property values in the Heritage Heights Neighborhood.property values in the Heritage Heights Neighborhood. The The 2017 2017 Estimated Market Land Value for this particular property is $Estimated Market Land Value for this particular property is $3838,,6600. 00. However, in speaking with However, in speaking with various home buildersvarious home builders and realtors,and realtors, staff received staff received commentscomments that the lots located in the Heritage Heights that the lots located in the Heritage Heights neighborhood, are generally lower neighborhood, are generally lower in in value than other pvalue than other properties roperties throughoutthroughout the City. the City. Furthermore, the Public Furthermore, the Public Works Department has confirmed that there was a water main break at the Subject Property, which Works Department has confirmed that there was a water main break at the Subject Property, which resulted resulted in in the sewer and water the sewer and water lines being disconnected at the main. Thus, the offer from Tollberg Homelines being disconnected at the main. Thus, the offer from Tollberg Homess of $2of $222,,5500 00 is around what the EDA can expect to sell this around what the EDA can expect to sell the Subject Propertye Subject Property for. for. final sale approval of the final sale approval of the Subject Subject Property. Attached Property. Attached for review and for review and consideration consideration is the Purchase and Redevelopment Agreement. Speis the Purchase and Redevelopment Agreement. Specific house plans may be found in cific house plans may be found in Exhibit B Exhibit B of of the Purchthe Purchase and Redevelopment Agreement.ase and Redevelopment Agreement. The proposed house plan meets the building requirements The proposed house plan meets the building requirements set forth by the Single Family Home Lot Sales Program Guidelines. set forth by the Single Family Home Lot Sales Program Guidelines. Staff Staff has has received the earnest money in thereceived the earnest money in the amount of $2,000. If the EDA approves the final sale tonight, the amount of $2,000. If the EDA approves the final sale tonight, the earnest moneyearnest money will become nonwill become non--refundablerefundable. If the EDA denies the final sale approval, staff will reimburse the . If the EDA denies the final sale approval, staff will reimburse the earnest money to Tollberg Homes. earnest money to Tollberg Homes. STAFF STAFF RECOMMENDATION:RECOMMENDATION: Staff recommends Staff recommends final sale final sale approval approval of 4647 Tyler Street NE as pof 4647 Tyler Street NE as presented.resented. RECOMMENDED MOTIONRECOMMENDED MOTION(S)(S):: Motion: Motion: Move to waive the reading of Resolution 201Move to waive the reading of Resolution 20177--1717, there being ample copies available to the public., there being ample copies available to the public. Motion:Motion: Move to adopt Resolution 2017Move to adopt Resolution 2017--1717, Resolution Approving , Resolution Approving the the Purchase and Redevelopment Purchase and Redevelopment Agreements with Tollberg Homes, LLC for the acquisition of Agreements with Tollberg Homes, LLC for the acquisition of 4647 Tyler 4647 Tyler Street NE, Columbia Heights, MN Street NE, Columbia Heights, MN 55421.55421. ATTACHMENTS:ATTACHMENTS: 1.1.Resolution 2017Resolution 2017--1717 (3 Pages)(3 Pages) 2.2.Purchase and Redevelopment Agreement (Purchase and Redevelopment Agreement (2121 Pages)Pages) City of Columbia Heights City of Columbia Heights EDA LetterEDA Letter COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITYCOLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. RESOLUTION NO. 20172017--1717 RESOLUTION APPROVING PURCHASE AND REDEVELOPMENT RESOLUTION APPROVING PURCHASE AND REDEVELOPMENT AGREEMENT WITH TOLLBERG HOMES, LLC.AGREEMENT WITH TOLLBERG HOMES, LLC. BE IT RESOLVED BY the BE IT RESOLVED BY the Board of Commissioners ("Board") of the Columbia Heights Board of Commissioners ("Board") of the Columbia Heights Economic Development Authority (the "Authority") as follows:Economic Development Authority (the "Authority") as follows: Section 1.Section 1.RecitalsRecitals.. 1.01.1.01.The Authority has previously adopted a program called the Single Family Home Lot The Authority has previously adopted a program called the Single Family Home Lot providing for the conveyance of certain Authorityproviding for the conveyance of certain Authority--owned property owned property , and has adopted guidelines in connection with the , and has adopted guidelines in connection with the 1.02.1.02.TheTheAuthority has received an offer from Tollberg HomesAuthority has received an offer from Tollberg Homes) to ) to purchase certain propertypurchase certain property as Exhibit Aas Exhibit Aand located at 4647 Tyler Street in the Cityand located at 4647 Tyler Street in the City, and the parties have negotiated , and the parties have negotiated aa ssfor the conveyance for the conveyance of the Property to the Buyer and the construction by the Buyer of of the Property to the Buyer and the construction by the Buyer of aasinglesingle--family home on the family home on the Property, all pursuant to the Guidelines. Property, all pursuant to the Guidelines. 1.03.1.03.On October 21, 2015, the Planning Commission of the City revieweOn October 21, 2015, the Planning Commission of the City reviewed the d the proposed Program and found that proposed Program and found that thetheconveyanceconveyanceof property pursuant to the Programof property pursuant to the Programis is 1.04.1.04.OnOnthe date hereofthe date hereof, t, the Authority conducted a duly noticed public hearing regarding he Authority conducted a duly noticed public hearing regarding the conveyance of the Prothe conveyance of the Property to the Buyer, at which all interested parties were gperty to the Buyer, at which all interested parties were given an iven an opportunity to be heardopportunity to be heard.. 1.05.1.05.The Board has reviewed the The Board has reviewed the AgreementAgreementin the form on file at the office of the in the form on file at the office of the Executive Director Executive Director and finds that the execution thereof and performance of the and finds that the execution thereof and performance of the Authority's Authority's obligations thereunderobligations thereunder, including the conveyance of the Property to the Buyer,, including the conveyance of the Property to the Buyer,areareconsistent with consistent with the Guidelines andthe Guidelines andin the best interest of the City and its residents.in the best interest of the City and its residents. Section 2.Section 2.Approval and Authorization of Agreement and ConveyanceApproval and Authorization of Agreement and Conveyance 2.01.2.01.TheTheAgreement as presented to the Board and the conveyance of the Property Agreement as presented to the Board and the conveyance of the Property provided for therein are hereby in all respects approved, subject to modifications that do not alter the provided for therein are hereby in all respects approved, subject to modifications that do not alter the substance of the transaction and that are approved by the President ansubstance of the transaction and that are approved by the President and Executive Director, provided d Executive Director, provided that execution of the that execution of the AgreementAgreementby such officials shall be conclusive evidence of approval.by such officials shall be conclusive evidence of approval. 2.02.2.02.Authority staff and officials are authorized to take all actions necessary to perform Authority staff and officials are authorized to take all actions necessary to perform AAgreementgreementas a whole, including without limitation execution as a whole, including without limitation execution of of any documents to which the Authority is a party referenced in or attached to the Agreement, and any documents to which the Authority is a party referenced in or attached to the Agreement, and 502222v1 MNI CL205502222v1 MNI CL205--5050 any deedany deedssor other documents necessary to convey or other documents necessary to convey thethePProperty to roperty to the Buyer, all as described in tthe Buyer, all as described in the he AgreementAgreement.. Section 3.Section 3.Effective DateEffective Date. This resolution shall be effective upon approval.. This resolution shall be effective upon approval. Approved by the Board of Commissioners of the Columbia Heights Economic Development Approved by the Board of Commissioners of the Columbia Heights Economic Development Authority this Authority this 10th10thday of day of JulyJuly, 201, 20177.. PresidentPresident ATTEST:ATTEST: SecretarySecretary 502222v1 MNI CL205502222v1 MNI CL205--5050 60 EXHIBIT AEXHIBIT A PropertyProperty Lot TwentyLot Twenty--six (26) except the South 20 feet of said Lot Twentysix (26) except the South 20 feet of said Lot Twenty--six (26) and all of Lot Twentysix (26) and all of Lot Twenty-- Co. Minn. according to the Co. Minn. according to the plat thereof on file in the Office of the Register of Deeds in and for said County and State.plat thereof on file in the Office of the Register of Deeds in and for said County and State. 502222v1 MNI CL205502222v1 MNI CL205--5050 61 PURCHASE AND REDEVELOPMENT AGREEMENTPURCHASE AND REDEVELOPMENT AGREEMENT 4647 Tyler Street4647 Tyler Street, Columbia Heights, Minnesota, Columbia Heights, Minnesota 1.1.Parties.Parties. This PurchaseThis Purchaseand Redevelopment and Redevelopment Agreement is made as of Agreement is made as of July 10,July 10,20201717 between the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a between the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a public body copublic body corporate and politic under the laws of Minnesota having its office located at rporate and politic under the laws of Minnesota having its office located at THTH 590 40590 40Tollberg Homes, LLC,Tollberg Homes, LLC, thth a Minnesota a Minnesota limited liability companylimited liability company, having its principal office at , having its principal office at 1428 51428 5Avenue, Avenue, Anoka, MAnoka, MN 55303 N 55303 .. 2.2.Offer/Acceptance.Offer/Acceptance. Buyer offers to purchase and Seller agrees to sell real propertyBuyer offers to purchase and Seller agrees to sell real propertyinin Anoka County, Minnesota,Anoka County, Minnesota, Lot TwentyLot Twenty--six (26) except the South 20 feet of sasix (26) except the South 20 feet of said Lot Twentyid Lot Twenty--six (26) and all of Lot six (26) and all of Lot TwentyTwenty-- according to the plat thereof on file in the Office of the Register of Deeds in and for said according to the plat thereof on file in the Office of the Register of Deeds in and for said County and State.County and State. Check here if part oCheck here if part or all of the land is Registered (Torrens) r all of the land is Registered (Torrens) 3.3.Acceptance Deadline.Acceptance Deadline. This offer to purchase, unless accepted sooner, shall be null and This offer to purchase, unless accepted sooner, shall be null and void at 4:30void at 4:30p.m. on p.m. on JulyJuly1111,,20201717,,and in such event all earnest money shall be refunded and in such event all earnest money shall be refunded to Buyerto Buyer.. 44..Price and Terms.Price and Terms. The price for the Property is The price for the Property is $$22,500.0022,500.00which which Buyer shall pay as follows: Buyer shall pay as follows: nonrefundable nonrefundable earnest moneyearnest moneyof of $2,000$2,000by check, receipt of by check, receipt of which is hereby ackwhich is hereby acknowledged by Sellernowledged by Seller. T. The balance of he balance of thethePurchase PricePurchase Pricemust must be paid be paid by certified by certified check check or wire transfer or wire transfer on the Date of Closing. Ton the Date of Closing. T no later than no later than September 8September 8, 20, 201717.. 55..Personal Property Included in Sale. Personal Property Included in Sale. There are no items of personal property or fixtures There are no items of personal property or fixtures owned by Seller and currently located on the Propeowned by Seller and currently located on the Property for purposes of this sale.rty for purposes of this sale. 66..Deed.Deed. Upon performance by Buyer, Seller shall deliver a quit claim deed conveying title Upon performance by Buyer, Seller shall deliver a quit claim deed conveying title to the Property to Buyer, in substantially the form attached as Exhibit Ato the Property to Buyer, in substantially the form attached as Exhibit A, subject to the , subject to the 11 501707v1 CL205501707v1 CL205--5050 62 conditions subsequent required by Sectionsconditions subsequent required by Sections15, 16, and 17 of this Agreement15, 16, and 17 of this Agreement(the (the 7.7.Real Estate Taxes and Special Assessments.Real Estate Taxes and Special Assessments. A.A.Seller shall pay, at or before closing all real estate taxes due and payable in Seller shall pay, at or before closing all real estate taxes due and payable in 20162016and and prior years. prior years. Real estate taxes due and payable in the year of closReal estate taxes due and payable in the year of closing shall be proing shall be pro-- rated to Seller and Buyer as of the Date of Closing.rated to Seller and Buyer as of the Date of Closing. B.B.Seller shall pay on Date of Closing all special assessments levied against the Seller shall pay on Date of Closing all special assessments levied against the Property as of the date of this agreement, including those certified for payment in Property as of the date of this agreement, including those certified for payment in the year of closingthe year of closing. Seller represents that there are no special assessments pending . Seller represents that there are no special assessments pending as of the date of this agreement. If a special assessment becomes pending after the as of the date of this agreement. If a special assessment becomes pending after the option:option: 11..Assume payment Assume payment of the pending special assessment without adjustment to of the pending special assessment without adjustment to the purchase agreement price of the property; orthe purchase agreement price of the property; or 22..Require Seller to pay the pending special assessment and Buyer shall pay a Require Seller to pay the pending special assessment and Buyer shall pay a commensurate increase in the purchase price of the Property, which commensurate increase in the purchase price of the Property, which increincrease shall be the same as the estimated amount of the assessment; orase shall be the same as the estimated amount of the assessment; or 3.3.Declare this agreement null and void by notice to Seller, and earnest Declare this agreement null and void by notice to Seller, and earnest money shall be refunded to Buyer.money shall be refunded to Buyer. 88..Closing Costs and Related Items. Closing Costs and Related Items. The Buyer will pay: (a) the closing The Buyer will pay: (a) the closing fees chfees charged by the arged by the title insurance or other closing agent, if any, utilized to close the transactiontitle insurance or other closing agent, if any, utilized to close the transaction contemplated by this Agreement; (b) fees for title evidence contemplated by this Agreement; (b) fees for title evidence obtained by Buyer; (c) the obtained by Buyer; (c) the recording feerecording feessfor this Agreement and for the Deed transferring title to Bfor this Agreement and for the Deed transferring title to Buyeruyer. Seller will . Seller will pay all other fees normally paid pay all other fees normally paid by sellers, including (a) any transfer taxes, and Well by sellers, including (a) any transfer taxes, and Well Disclosure fees required to enable Buyer to rDisclosure fees required to enable Buyer to record its deed from Seller under this ecord its deed from Seller under this Agreement, and (b)Agreement, and (b)fees and charges related to the filing of any infees and charges related to the filing of any instrument required to make strument required to make title marketable. Each party shall pay its own attorney feestitle marketable. Each party shall pay its own attorney fees.. 99..Sewer and Water.Sewer and Water. Seller warrants that city sewer is available at the Property line, and Seller warrants that city sewer is available at the Property line, and that city water is available in the right of way adjacent to the Property.that city water is available in the right of way adjacent to the Property.Seller makes no Seller makes no warranty regarding the conditions of any existing water stub from the main to the warranty regarding the conditions of any existing water stub from the main to the Property line. Seller advises Buyer to inspect the condition of the water stub.Property line. Seller advises Buyer to inspect the condition of the water stub. 1010..Condition of Property.Condition of Property. Buyer acknowledgeBuyer acknowledgessthat they have inspected orthat they have inspected orhave had the have had the the right, at its own expense to take soil samples for the purpose of determining if the soil the right, at its own expense to take soil samples for the purpose of determining if the soil is suitable for construction of the dwelling described in seis suitable for construction of the dwelling described in section 14 below. If the soil is ction 14 below. If the soil is determined to be unacceptable the Buyer may rescind this agreement by written notice to determined to be unacceptable the Buyer may rescind this agreement by written notice to 22 501707v1 CL205501707v1 CL205--5050 63 the Seller, in which case the agreement shall be null and void. Seller makes no warranties the Seller, in which case the agreement shall be null and void. Seller makes no warranties as to the condition of the Property.as to the condition of the Property. 1111..MarkMarketability of Title. etability of Title. As soon as reasonably possible after execution of this As soon as reasonably possible after execution of this Agreement by both partiesAgreement by both parties:: (a)(a) title service provider; and title service provider; and (b)(b)Buyer shall obtain the title evidence determined necessary or desirable by Buyer. Buyer shall obtain the title evidence determined necessary or desirable by Buyer. The Buyer shall have 20 days from the date it receives such title evidence to raise any The Buyer shall have 20 days from the date it receives such title evidence to raise any objections to title objections to title it may have. Objections not made within such time will be deemed it may have. Objections not made within such time will be deemed waived. The Seller shall have 90 days from the date of such objection to affect a cure; waived. The Seller shall have 90 days from the date of such objection to affect a cure; provided, however, that Seller shall have no obligation to cure any objections, and may provided, however, that Seller shall have no obligation to cure any objections, and may inform Buyer inform Buyer of such. The Buyer may then elect to close notwithstanding the uncured of such. The Buyer may then elect to close notwithstanding the uncured objections or declare this Agreement null and void, and the parties will thereby be objections or declare this Agreement null and void, and the parties will thereby be released from any further obligation hereunderreleased from any further obligation hereunder.. 1122..Title Clearance and Remedies.Title Clearance and Remedies. If Seller shalIf Seller shall fail to have title objections timely l fail to have title objections timely removed, the Buyer may, at its sole election: (a) terminate this Agreement witremoved, the Buyer may, at its sole election: (a) terminate this Agreement without any hout any liability on its part upon provision of liability on its part upon provision of a quit claim deed to the Property from Buyer; or (b) a quit claim deed to the Property from Buyer; or (b) take title to the Property subject totake title to the Property subject tosuch objections. such objections. If title is marketable, or is made marketable as provided herein, and Buyer defaults in any If title is marketable, or is made marketable as provided herein, and Buyer defaults in any of the agreements herein, Seller may elect either of the following options, as permitted by of the agreements herein, Seller may elect either of the following options, as permitted by law:law: A.A.Cancel this contract as provided by statuteCancel this contract as provided by statuteand retain all payments made and retain all payments made hereunder as liquidated damages. The parties acknowledge their intention that hereunder as liquidated damages. The parties acknowledge their intention that any note given pursuant to this contract is a down payment note, and may be any note given pursuant to this contract is a down payment note, and may be presented for payment notwithstanding cancellation;presented for payment notwithstanding cancellation; B.B.Seek specific pSeek specific performance within six months after such right of action arises, erformance within six months after such right of action arises, including costs and reasonable attorney's fees, as permitted by law.including costs and reasonable attorney's fees, as permitted by law. If title is marketable, or is made marketable as provided herein, and Seller defaults in any If title is marketable, or is made marketable as provided herein, and Seller defaults in any of the agreements herein, Buyof the agreements herein, Buyer may, as permitted by law:er may, as permitted by law: C.C.Seek damages from Seller including costs and reasonable attorney's fees;Seek damages from Seller including costs and reasonable attorney's fees; D.D.Seek specific performance within six months after such right of action arises. Seek specific performance within six months after such right of action arises. 1133..Well Disclosure. Well Disclosure. as follows:as follows: 33 501707v1 CL205501707v1 CL205--5050 64 The Seller certifies that the Seller does not know of any wells on the described The Seller certifies that the Seller does not know of any wells on the described real property.real property. A well disclosure certificate accompanies this documentA well disclosure certificate accompanies this document.. I am familiar with the property described in this instrument and I certify that the I am familiar with the property described in this instrument and I certify that the status and nstatus and number of wells on the umber of wells on the PropertyPropertyhave not changed since the last have not changed since the last previously filed well disclosure certificate.previously filed well disclosure certificate. 1144..Individual Sewage Treatment System Disclosure.Individual Sewage Treatment System Disclosure. Seller certifies that there is no Seller certifies that there is no individual sewage treatment system on or serving the Propertindividual sewage treatment system on or serving the Property.y. 1155..Construction and Sale of Dwelling. Construction and Sale of Dwelling. Buyer agrees that it will construct a new single Buyer agrees that it will construct a new single family dwelling on the Property, intended for sale to a person or persons for residential family dwelling on the Property, intended for sale to a person or persons for residential y of the Deed.y of the Deed. A.A.The single family dwelling described in this Section is referred to as the The single family dwelling described in this Section is referred to as the B.B.The Minimum Improvements shall consist of a The Minimum Improvements shall consist of a new single family dwelling, and new single family dwelling, and shall be constructed substantially in accordance with theshall be constructed substantially in accordance with theSingle Family Home Lot Single Family Home Lot Sales ProgramSales ProgramGuidelines Guidelines on file at City Hallon file at City Halland the proposal approved by Seller and the proposal approved by Seller ononMarch 6, 2017March 6, 2017, attached hereto as Exhibit , attached hereto as Exhibit BB.. C.C.Construction of the Minimum Improvements must be substantially completed Construction of the Minimum Improvements must be substantially completed nono later thanlater thanone year frone year from the Date of Closingom the Date of Closing..Construction will be considered Construction will be considered substantially complete when the final certificate of occupancy has been issued by substantially complete when the final certificate of occupancy has been issued by the City of Columbia Heights building official.the City of Columbia Heights building official. DD..Promptly after substantial completion of the Minimum ImprovementsPromptly after substantial completion of the Minimum Improvementsinin accordance with those provisions of the Agreement relating solely to the accordance with those provisions of the Agreement relating solely to the obligations of the Buyer to construct such Minimum Improvements (including the obligations of the Buyer to construct such Minimum Improvements (including the date for completion thereof), the Seller will furnish the Buyer with a Certificate of date for completion thereof), the Seller will furnish the Buyer with a Certificate of CompletionCompletion, in, inthe form attached hereto as Exhibit C,the form attached hereto as Exhibit C,for such improvements. for such improvements. Such certification by the Seller shall be (and it shall be so provided in the Deed Such certification by the Seller shall be (and it shall be so provided in the Deed and in the certification itself) a conclusive determination of satisfaction and and in the certification itself) a conclusive determination of satisfaction and termination of the agreementstermination of the agreementsand covenants in the Agreement and in the Deed and covenants in the Agreement and in the Deed with respect to the obligations of the Buyer and its successors and assigns, to with respect to the obligations of the Buyer and its successors and assigns, to construct the Minimum Improvements and the dates for completion thereof.construct the Minimum Improvements and the dates for completion thereof. The certificate provided for in this Section of this AThe certificate provided for in this Section of this Agreement shall be in such greement shall be in such form as will enable it to be recorded in the proper office for the recordation of form as will enable it to be recorded in the proper office for the recordation of deeds and other instruments pertaining to the Property. If the Seller shall refuse or deeds and other instruments pertaining to the Property. If the Seller shall refuse or fail to provide any certification in accordance with the provfail to provide any certification in accordance with the provisions of this Section, isions of this Section, the Seller shall, within thirty (30) days after written request by the Buyer, provide the Seller shall, within thirty (30) days after written request by the Buyer, provide the Buyer with a written statement, indicating in adequate detail in what respects the Buyer with a written statement, indicating in adequate detail in what respects the Buyer has failed to complete the Minimum Improvements in acthe Buyer has failed to complete the Minimum Improvements in accordance with cordance with 44 501707v1 CL205501707v1 CL205--5050 65 the provisions of the Agreement, or is otherwise in default, and what measures or the provisions of the Agreement, or is otherwise in default, and what measures or acts it will be necessary, in the opinion of the Seller for the Buyer to take or acts it will be necessary, in the opinion of the Seller for the Buyer to take or perform in order to obtain such certification.perform in order to obtain such certification. EE..The Buyer represents and agrThe Buyer represents and agrees that until issuance of the Certificate of Completion ees that until issuance of the Certificate of Completion for the Minimum Improvements: for the Minimum Improvements: (1)(1)Except for any Except for any agreement for agreement for sale to an Owner Occupant, the sale to an Owner Occupant, the Buyer has not made or created and will not make or create or suffer to be made or Buyer has not made or created and will not make or create or suffer to be made or created any total orcreated any total orpartial sale, assignment, conveyance, or lease, or any trust or partial sale, assignment, conveyance, or lease, or any trust or power, or transfer in any other mode or form of or with respect to this Agreement power, or transfer in any other mode or form of or with respect to this Agreement or the Property or any part thereof or any interest therein, or any contract or or the Property or any part thereof or any interest therein, or any contract or agreement to do any of the saagreement to do any of the same, to any person or entity (collectively, a me, to any person or entity (collectively, a granted by way of security for, and only for, the purpose of obtgranted by way of security for, and only for, the purpose of obtaining construction, aining construction, interim or permanent financing necessary to enable the Buyer to construct the interim or permanent financing necessary to enable the Buyer to construct the Minimum Improvements or component thereof. Minimum Improvements or component thereof. (2)(2)If the Buyer seeks to effect a Transfer prior to issuance of the If the Buyer seeks to effect a Transfer prior to issuance of the Certificate of Completion, the Seller shallCertificate of Completion, the Seller shallbe entitled to require as conditions to be entitled to require as conditions to such Transfer that:such Transfer that: (i)(i)any proposed transferee shall have the qualifications and any proposed transferee shall have the qualifications and financial responsibility, in the reasonable judgment of the Seller, necessary financial responsibility, in the reasonable judgment of the Seller, necessary and adequate to fulfill the obligations undertaken inand adequate to fulfill the obligations undertaken inthis Agreement by the this Agreement by the Buyer as to the portion of the Property to be transferred; andBuyer as to the portion of the Property to be transferred; and (ii)(ii)Any proposed transferee, by instrument in writing Any proposed transferee, by instrument in writing satisfactory to the Seller and in form recordable in the public land records satisfactory to the Seller and in form recordable in the public land records of Anoka County, Minnesota, shall, fof Anoka County, Minnesota, shall, for itself and its successors and or itself and its successors and assigns, and expressly for the benefit of the Seller, have expressly assumed assigns, and expressly for the benefit of the Seller, have expressly assumed all of the obligations of the Buyer under this Agreement as to the portion all of the obligations of the Buyer under this Agreement as to the portion of the Property to be transferred and agreed to be subject to all the of the Property to be transferred and agreed to be subject to all the cconditions and restrictions to which the Buyer is subject as to such portion;onditions and restrictions to which the Buyer is subject as to such portion; provided, however, that the fact that any transferee of, or any other provided, however, that the fact that any transferee of, or any other successor in interest whatsoever to, the Property, or any part thereof, shall successor in interest whatsoever to, the Property, or any part thereof, shall not, for whatever reason, have not, for whatever reason, have assumed such obligations or so agreed, and assumed such obligations or so agreed, and shall not (unless and only to the extent otherwise specifically provided in shall not (unless and only to the extent otherwise specifically provided in this Agreement or agreed to in writing by the Seller) deprive the Seller of this Agreement or agreed to in writing by the Seller) deprive the Seller of any rights or remedies or controls with respect to the Properany rights or remedies or controls with respect to the Property, the ty, the Minimum Improvements or any part thereof or the construction of the Minimum Improvements or any part thereof or the construction of the Minimum Improvements; it being the intent of the parties as expressed in Minimum Improvements; it being the intent of the parties as expressed in this Agreement that (to the fullest extent permitted at law and in equity this Agreement that (to the fullest extent permitted at law and in equity and excepting only in the manner and excepting only in the manner and to the extent specifically provided and to the extent specifically provided otherwise in this Agreement) no transfer of, or change with respect to, otherwise in this Agreement) no transfer of, or change with respect to, 55 501707v1 CL205501707v1 CL205--5050 66 ownership in the Property or any part thereof, or any interest therein, ownership in the Property or any part thereof, or any interest therein, however consummated or occurring, and whether voluntary or involuntary, however consummated or occurring, and whether voluntary or involuntary, shall operate, legally, or practically, to deprive or limit the Seller of or withshall operate, legally, or practically, to deprive or limit the Seller of or with respect to any rights or remedies on controls provided in or resulting from respect to any rights or remedies on controls provided in or resulting from this Agreement with respect to the Property that the Seller would have had,this Agreement with respect to the Property that the Seller would have had, had there been no suchhad there been no suchtransfer or change. In the absence of specific transfer or change. In the absence of specific written agreement by the Seller to the contrary, no such transfer or written agreement by the Seller to the contrary, no such transfer or approval by the Seller thereof shall be deemed to relieve the Buyer, or any approval by the Seller thereof shall be deemed to relieve the Buyer, or any other party bound in any way by this Agreement or otherwise wiother party bound in any way by this Agreement or otherwise with respect th respect to the Property, from any of its obligations with respect thereto.to the Property, from any of its obligations with respect thereto. (iii)(iii)Any and all instruments and other legal documents Any and all instruments and other legal documents involved in effecting the transfer of any interest in this Agreement or the involved in effecting the transfer of any interest in this Agreement or the Property governed by this subsection E. shalProperty governed by this subsection E. shall be in a form reasonably l be in a form reasonably satisfactory to the Seller.satisfactory to the Seller. (3)(3)If the conditions described in paragraph (2) above are satisfied then If the conditions described in paragraph (2) above are satisfied then the Transfer will be approved and the Buyer shall be released from its obligation the Transfer will be approved and the Buyer shall be released from its obligation under this Agreement, as to the portion of thunder this Agreement, as to the portion of the Property that is transferred, e Property that is transferred, assigned, or otherwise conveyed. The provisions of this paragraph (3) apply to all assigned, or otherwise conveyed. The provisions of this paragraph (3) apply to all subsequent transferors.subsequent transferors. (4)(4)Upon issuance of the Certificate of Completion, the Buyer may Upon issuance of the Certificate of Completion, the Buyer may Transfer the Property and/or the Buyer's rights aTransfer the Property and/or the Buyer's rights and obligations under this Agreement nd obligations under this Agreement with respect to such Property without the priowith respect to such Property without the prior written consent of the Seller.r written consent of the Seller. FF..The Buyer, and its successors and assigns, agree that they (a) will use the The Buyer, and its successors and assigns, agree that they (a) will use the Minimum Improvements only as a single family dwelling, and inMinimum Improvements only as a single family dwelling, and inthe case of an the case of an Owner Occupant, will occupy the Property as a residence, (b) will not rent the Owner Occupant, will occupy the Property as a residence, (b) will not rent the Property to any person or entity, (c) will not seek exemption from real estate taxes Property to any person or entity, (c) will not seek exemption from real estate taxes on the Property under State law, and (d) will not transfer or permit transfeon the Property under State law, and (d) will not transfer or permit transfer of the r of the Property to any entity whose ownership or operation of the Property would result Property to any entity whose ownership or operation of the Property would result in the Property being exempt from real estate taxes under State law in the Property being exempt from real estate taxes under State law (other than any (other than any portion thereof dedicated or conveyed to the City of Columbia Heights or Seller inportion thereof dedicated or conveyed to the City of Columbia Heights or Seller in The covenants in this paragraph run with the The covenants in this paragraph run with the accordance with this Agreement). accordance with this Agreement). land, survive both delivery of the Deed and issuance of the Certificate of land, survive both delivery of the Deed and issuance of the Certificate of Completion for the Minimum Improvements, and shall remain in effect Completion for the Minimum Improvements, and shall remain in effect for for tenten years after the Date of Cyears after the Date of Closing.losing. 1166..Revesting Title in Seller upon Happening of Event Subsequent to Conveyance to Revesting Title in Seller upon Happening of Event Subsequent to Conveyance to Buyer. Buyer. In the event that subsequent to conveyance of the Property or any part thereof to the In the event that subsequent to conveyance of the Property or any part thereof to the Buyer and prior to receipt by the Buyer of the Certificate of CompletiBuyer and prior to receipt by the Buyer of the Certificate of Completion for of the Minimum on for of the Minimum Improvements, the Buyer, subject to Unavoidable Delays (as hereafter defined), fails to Improvements, the Buyer, subject to Unavoidable Delays (as hereafter defined), fails to carry out its obligations with respect to the construction of the Minimum Improvements carry out its obligations with respect to the construction of the Minimum Improvements (including the nature and the date for the completion there(including the nature and the date for the completion thereof), or abandons or substantially of), or abandons or substantially 66 501707v1 CL205501707v1 CL205--5050 67 suspends construction work, and any such failure, abandonment, or suspension shall not be suspends construction work, and any such failure, abandonment, or suspension shall not be cured, ended, or remedied within thirty (30) days after written demand from the Seller to the cured, ended, or remedied within thirty (30) days after written demand from the Seller to the Buyer to do so, then the Seller shall Buyer to do so, then the Seller shall have the right to rehave the right to re--enter and take possession of the enter and take possession of the Property and to terminate (and revest in the Seller) the estate conveyed by the Deed to the Property and to terminate (and revest in the Seller) the estate conveyed by the Deed to the Buyer, it being the intent of this provision, together with other provisions of the Agreement, Buyer, it being the intent of this provision, together with other provisions of the Agreement, that the conveythat the conveyance of the Property to the Buyer shall be made upon, and that the Deed shall ance of the Property to the Buyer shall be made upon, and that the Deed shall contain a condition subsequent to the effect that in the event of any default on the part of the contain a condition subsequent to the effect that in the event of any default on the part of the Buyer and failure on the part of the Buyer to remedy, end, or abrogate such defauBuyer and failure on the part of the Buyer to remedy, end, or abrogate such default within lt within the period and in the manner stated in such subdivisions, the Seller at its option may declare the period and in the manner stated in such subdivisions, the Seller at its option may declare a termination in favor of the Seller of the title, and of all the rights and interests in and to the a termination in favor of the Seller of the title, and of all the rights and interests in and to the Property conveyed to the Buyer, and that such titlProperty conveyed to the Buyer, and that such title and all rights and interests of the Buyer, e and all rights and interests of the Buyer, and any assigns or successors in interest to and in the Property, shall revert to the Seller, but and any assigns or successors in interest to and in the Property, shall revert to the Seller, but only if the events stated in this Section have not been cured within the time periods only if the events stated in this Section have not been cured within the time periods provided above.provided above. NotwithstaNotwithstanding anything to the contrary contained in this Section, the Seller shall have no nding anything to the contrary contained in this Section, the Seller shall have no right to reenter or retake title to and possession of a portion of the Property for which a right to reenter or retake title to and possession of a portion of the Property for which a Certificate of Completion has been issued.Certificate of Completion has been issued. For the purposes of this Agreement, tFor the purposes of this Agreement, t the reasonable control of the Buyer as a result thereof which are the direct result of strikes, the reasonable control of the Buyer as a result thereof which are the direct result of strikes, other labor troubles, prolonged adverse weather or acts of God, fire or other casualty to the other labor troubles, prolonged adverse weather or acts of God, fire or other casualty to the Minimum ImprovemeMinimum Improvements, litigation commenced by third parties which, by injunction or nts, litigation commenced by third parties which, by injunction or other similar judicial action, directly results in delays, or acts of any federal, state or local other similar judicial action, directly results in delays, or acts of any federal, state or local governmental unit (other than the Seller in exercising its rights under this Agreement) governmental unit (other than the Seller in exercising its rights under this Agreement) whiwhi obtaining of permits or governmental approvals necessary to enable construction of the obtaining of permits or governmental approvals necessary to enable construction of the Minimum Improvements by the dates such construction is required under this sectMinimum Improvements by the dates such construction is required under this section of this ion of this Agreement.Agreement. 1177..Resale of Reacquired Property; Disposition of Proceeds.Resale of Reacquired Property; Disposition of Proceeds. Upon the revesting in the Upon the revesting in the Seller of title to and/or possession of the Property or any part thereof as provided in Section Seller of title to and/or possession of the Property or any part thereof as provided in Section 16, the Seller shall apply the purchase price pai16, the Seller shall apply the purchase price paid by the Buyer under Section 4 of this d by the Buyer under Section 4 of this Agreement as follows:Agreement as follows: (a)(a)First, to reimburse the Seller for all costs and expenses incurred by the Seller, First, to reimburse the Seller for all costs and expenses incurred by the Seller, including but not limited to proportionate salaries of personnel, in connection with including but not limited to proportionate salaries of personnel, in connection with the recapture, managemethe recapture, management, and resale of the Property or part thereof (but less any nt, and resale of the Property or part thereof (but less any income derived by the Seller from the Property or part thereof in connection with income derived by the Seller from the Property or part thereof in connection with such management); all taxes, assessments, and water and sewer charges with such management); all taxes, assessments, and water and sewer charges with respect to the Property or part thereorespect to the Property or part thereof (or, in the event the Property is exempt from f (or, in the event the Property is exempt from taxation or assessment or such charge during the period of ownership thereof by taxation or assessment or such charge during the period of ownership thereof by the Seller, an amount, if paid, equal to such taxes, assessments, or charges (as the Seller, an amount, if paid, equal to such taxes, assessments, or charges (as determined by the Seller assessing official) asdetermined by the Seller assessing official) aswould have been payable if the would have been payable if the Property were not so exempt); any payments made or necessary to be made to Property were not so exempt); any payments made or necessary to be made to 77 501707v1 CL205501707v1 CL205--5050 68 discharge any encumbrances or liens existing on the Property or part thereof at the discharge any encumbrances or liens existing on the Property or part thereof at the time of revesting of title thereto in the Seller or to discharge time of revesting of title thereto in the Seller or to discharge or prevent from or prevent from attaching or being made any subsequent encumbrances or liens due to obligations, attaching or being made any subsequent encumbrances or liens due to obligations, defaults or acts of the Buyer, its successors or transferees; any expenditures made defaults or acts of the Buyer, its successors or transferees; any expenditures made or obligations incurred with respect to the making or completion of the Minor obligations incurred with respect to the making or completion of the Minimum imum Improvements or any part thereof on the Property or part thereof; and any amounts Improvements or any part thereof on the Property or part thereof; and any amounts otherwise owing the Seller by the Buyer and its successor or transferee; andotherwise owing the Seller by the Buyer and its successor or transferee; and (b)(b)Second, to reimburse the Buyer for the balance of the purchase price remaining Second, to reimburse the Buyer for the balance of the purchase price remaining after thafter the reimbursements specified in paragraph (a) above. Such reimbursement e reimbursements specified in paragraph (a) above. Such reimbursement shall be paid to the Buyer upon delivery of an executed, recordable warranty deed shall be paid to the Buyer upon delivery of an executed, recordable warranty deed to the Property by the Buyer to the Seller.to the Property by the Buyer to the Seller. 1188..Time is of the essence for all provisions of this contTime is of the essence for all provisions of this contract.ract. 1199..Notices.Notices. All notices required herein shall be in writing and delivered personally or All notices required herein shall be in writing and delivered personally or mailed to the address shown at paragraph 1 above and, if mailed, are effective as of the mailed to the address shown at paragraph 1 above and, if mailed, are effective as of the date of mailing.date of mailing. 2020..Minnesota Law.Minnesota Law. This contract shall be governed This contract shall be governed by the laws of the State of Minnesota. by the laws of the State of Minnesota. 2211..Specific Performance.Specific Performance. This Agreement may be specifically enforced by the parties, This Agreement may be specifically enforced by the parties, provided that an action is brought within one year of the date of alleged breach of this provided that an action is brought within one year of the date of alleged breach of this Agreement.Agreement. 2222..No Remedy Exclusive. No Remedy Exclusive. NNo remedy herein conferred upon or reserved to the Seller or o remedy herein conferred upon or reserved to the Seller or Buyer is intended to be exclusive of any other available remedy or remedies, but each and Buyer is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreunder this Agreement or now or hereafter existing at law or in equity or by statute. No ement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and such right or power or shall be construed to be a waiver thereof, but any such right and ppower may be exercised from time to time and as often as may be deemed expedient.ower may be exercised from time to time and as often as may be deemed expedient. 2233..No Merger of Representations, Warranties.No Merger of Representations, Warranties. All representations and warranties contained All representations and warranties contained in this Purchase Agreement shall not be merged into any instruments or conveyance in this Purchase Agreement shall not be merged into any instruments or conveyance delivered at closing, and the parties shall be bound accordingly.delivered at closing, and the parties shall be bound accordingly. 2244..Recording.Recording. This Agreement shall be filed of record with the Anoka County Registrar of This Agreement shall be filed of record with the Anoka County Registrar of Titles or Office of Recorder, as the case may be. Buyer shall pay all recording costs.Titles or Office of Recorder, as the case may be. Buyer shall pay all recording costs. 25.25.No BrNo Broker Involved.oker Involved. The Seller and The Seller and represent and warrant to each other that there is no represent and warrant to each other that there is no broker involved in this transaction with whom it has negotiated or to whom it has agreed to broker involved in this transaction with whom it has negotiated or to whom it has agreed to pay a broker commission. Buyer agrees to indemnify Seller for any and all claimpay a broker commission. Buyer agrees to indemnify Seller for any and all claims for s for brokerage commissions or finders' fees in connection with negotiations for purchase of the brokerage commissions or finders' fees in connection with negotiations for purchase of the Property arising out of any alleged agreement or commitment or negotiation by Buyer, and Property arising out of any alleged agreement or commitment or negotiation by Buyer, and 88 501707v1 CL205501707v1 CL205--5050 69 Seller agrees to indemnify Buyer for any and all claims for brokerage Seller agrees to indemnify Buyer for any and all claims for brokerage commissions or commissions or finders' fees in connection with negotiations for purchase of the Property arising out of any finders' fees in connection with negotiations for purchase of the Property arising out of any alleged agreement or commitment or negotiation by Selleralleged agreement or commitment or negotiation by Seller.. In witness of the foregoing, the parties have executed this agreement on the year and dIn witness of the foregoing, the parties have executed this agreement on the year and date ate written above.written above. SELLER:SELLER:COLUMBIA HEIGHTS ECOCOLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUNOMIC DEVELOPMENT AUTHORITYTHORITY By:By:__________________________________________________________By: ________________________________By: ________________________________ Its PresidentIts PresidentIts Executive DirectorIts Executive Director STATE OF MINNESOTASTATE OF MINNESOTA } ss.} ss. COUNTY OF ANOKACOUNTY OF ANOKA The foregoing was acknowledged before me this ______ day of _________ 20The foregoing was acknowledged before me this ______ day of _________ 201717, by , by Marlaine SzurekMarlaine Szurekand and Walter Fehst,Walter Fehst,the President and Executive Director of Columbia Heights the President and Executive Director of Columbia Heights Economic Development Authority, a public body corporate and polEconomic Development Authority, a public body corporate and politic under the laws of itic under the laws of Minnesota, on behalf of the public body corporate and politic.Minnesota, on behalf of the public body corporate and politic. __________________________________________________________________ Notary PublicNotary Public 99 501707v1 CL205501707v1 CL205--5050 BUYER:BUYER:TOLLBERG HOMES, LLCTOLLBERG HOMES, LLC By: _______________________________By: _______________________________ STATE OF MINNESOTASTATE OF MINNESOTA } ss.} ss. COUNTY OF ANOKACOUNTY OF ANOKA The foregoing was acknowledged before me this ______ day of _________ 20The foregoing was acknowledged before me this ______ day of _________ 201717, by , by ___________________, the ______________________ of ___________________, the ______________________ of Tollberg Homes, LLC,Tollberg Homes, LLC,a Minnesota a Minnesota limited liability company,limited liability company,on behalf of the on behalf of the limited liability climited liability company.ompany. __________________________________________________________________ Notary PublicNotary Public This document drafted by:This document drafted by: Kennedy & Graven, CharteredKennedy & Graven, Chartered 470 U.S. Bank Plaza470 U.S. Bank Plaza thth 200 South 6200 South 6StreetStreet Minneapolis, MN 55402Minneapolis, MN 55402 1010 501707v1 CL205501707v1 CL205--5050 EXHIBIT AEXHIBIT A toto PURCHASE AND REDEVELOPMENT AGREEMENTPURCHASE AND REDEVELOPMENT AGREEMENT FORM OF QUIT CLAIM DEEDFORM OF QUIT CLAIM DEED Deed Tax Due: $Deed Tax Due: $______________ ECRV: ___________________ECRV: ___________________ THIS INDENTURE, between the Columbia Heights Economic Development Authority, a THIS INDENTURE, between the Columbia Heights Economic Development Authority, a WITNESSETH, that Grantor, in consideration of the sum of $_________ and other good WITNESSETH, that Grantor, in consideration of the sum of $_________ and other good and valuable consideration the receipt whereof is hereby acknowledged, does hereby grant, and valuable consideration the receipt whereof is hereby acknowledged, does hereby grant, bargain, quitclaim and convey to the Grantee, its successors and assigns forever,bargain, quitclaim and convey to the Grantee, its successors and assigns forever,all the tract or all the tract or parcel of land lying and being in the County of Anoka and State of Minnesota described as parcel of land lying and being in the County of Anoka and State of Minnesota described as follows, tofollows, to-- Check here if part or all of the land is Registered (Check here if part or all of the land is Registered (Torrens) Torrens) To have and to hold the same, together with all the hereditaments and appurtenances To have and to hold the same, together with all the hereditaments and appurtenances thereunto belonging.thereunto belonging. SECTION 1SECTION 1.. It is understood and agreed that this Deed is subject to the covenants, conditions, It is understood and agreed that this Deed is subject to the covenants, conditions, restrictions and provisions of an agreemrestrictions and provisions of an agreement recorded herewith entered into between the Grantor ent recorded herewith entered into between the Grantor not convey this Property, ornot convey this Property, orany part thereof, except as permitted by the Agreement until a any part thereof, except as permitted by the Agreement until a certificate of completion releasing the Grantee from certain obligations of said Agreement as to certificate of completion releasing the Grantee from certain obligations of said Agreement as to this Property or such part thereof then to be conveyed, has been placed of record. This provisthis Property or such part thereof then to be conveyed, has been placed of record. This provision,ion, however, shall in no way prevent the Grantee from mortgaging this Property in order to obtain however, shall in no way prevent the Grantee from mortgaging this Property in order to obtain funds for the purchase of the Property hereby conveyed or for erecting the Minimum funds for the purchase of the Property hereby conveyed or for erecting the Minimum Improvements thereon (as defined in the Agreement) in conformity with the Improvements thereon (as defined in the Agreement) in conformity with the Agreement, any Agreement, any applicable development program and applicable provisions of the zoning ordinance of the City of applicable development program and applicable provisions of the zoning ordinance of the City of Columbia Heights, Minnesota, or for the refinancing of the same.Columbia Heights, Minnesota, or for the refinancing of the same. It is specifically agreed that the Grantee shall promptly begin and diligentlyIt is specifically agreed that the Grantee shall promptly begin and diligentlyprosecute to prosecute to completion the redevelopment of the Property through the construction of the Minimum completion the redevelopment of the Property through the construction of the Minimum Improvements thereon, as provided in the Agreement.Improvements thereon, as provided in the Agreement. 501707v1 CL205501707v1 CL205--5050 72 Promptly after completion of the Minimum Improvements in accordance with the Promptly after completion of the Minimum Improvements in accordance with the provisions of the Agreemenprovisions of the Agreement, the Grantor will furnish the Grantee with an appropriate instrument t, the Grantor will furnish the Grantee with an appropriate instrument so certifying. Such certification by the Grantor shall be (and it shall be so provided in the so certifying. Such certification by the Grantor shall be (and it shall be so provided in the certification itself) a conclusive determination of satisfaction and termination of the agcertification itself) a conclusive determination of satisfaction and termination of the agreements reements and covenants of the Agreement and of this Deed with respect to the obligation of the Grantee, and covenants of the Agreement and of this Deed with respect to the obligation of the Grantee, and its successors and assigns, to construct the Minimum Improvements and the dates for the and its successors and assigns, to construct the Minimum Improvements and the dates for the beginning and completion thereof. Such certification and subeginning and completion thereof. Such certification and such determination shall not constitute ch determination shall not constitute evidence of compliance with or satisfaction of any obligation of the Grantee to any holder of a evidence of compliance with or satisfaction of any obligation of the Grantee to any holder of a mortgage, or any insurer of a mortgage, securing money loaned to finance the purchase of the mortgage, or any insurer of a mortgage, securing money loaned to finance the purchase of the Property hereby conveyed or tProperty hereby conveyed or the Minimum Improvements, or any part thereof.he Minimum Improvements, or any part thereof. All certifications provided for herein shall be in such form as will enable them to be All certifications provided for herein shall be in such form as will enable them to be recorded with the County Recorder, or Registrar of Titles, Anoka County, Minnesota. If the recorded with the County Recorder, or Registrar of Titles, Anoka County, Minnesota. If the Grantor shall refuse or fail Grantor shall refuse or fail to provide any such certification in accordance with the provisions of to provide any such certification in accordance with the provisions of the Agreement and this Deed, the Grantor shall, within thirty (30) days after written request by the Agreement and this Deed, the Grantor shall, within thirty (30) days after written request by the Grantee, provide the Grantee with a written statement indicating in adequate detail the Grantee, provide the Grantee with a written statement indicating in adequate detail in what in what respects the Grantee has failed to complete the Minimum Improvements in accordance with the respects the Grantee has failed to complete the Minimum Improvements in accordance with the provisions of the Agreement or is otherwise in default, and what measures or acts it will be provisions of the Agreement or is otherwise in default, and what measures or acts it will be necessary, in the opinion of the Grantor, for the Grantee to tanecessary, in the opinion of the Grantor, for the Grantee to take or perform in order to obtain ke or perform in order to obtain such certification.such certification. SECTION 2SECTION 2.. Sections Sections 15, 16 and 1715, 16 and 17--enter and revest enter and revest inin Grantor title to the Property under conditions specified therein, including but not limited to Grantor title to the Property under conditions specified therein, including but not limited to termination of such right upon issuance of a Certificate of Completion as defined in the termination of such right upon issuance of a Certificate of Completion as defined in the Agreement.Agreement. SECTION 3SECTION 3.. The Grantee agrees for itself and its succesThe Grantee agrees for itself and its successors and assigns to or of the Property or sors and assigns to or of the Property or any part thereof, hereinbefore described, that the Grantee and such successors and assigns any part thereof, hereinbefore described, that the Grantee and such successors and assigns shall comply with Section shall comply with Section 15F15Fof the Agreement for a period of of the Agreement for a period of tentenyears after the date years after the date hereof. hereof. It is intended and agreeIt is intended and agreed that the above and foregoing agreements and covenants d that the above and foregoing agreements and covenants shall be covenants running with the land for the respective terms herein provided, and that shall be covenants running with the land for the respective terms herein provided, and that they shall, in any event, and without regard to technical classification or designation, legal they shall, in any event, and without regard to technical classification or designation, legal or otherwise,or otherwise,and except only as otherwise specifically provided in this Deed, be binding, to and except only as otherwise specifically provided in this Deed, be binding, to the fullest extent permitted by law and equity for the benefit and in favor of, and the fullest extent permitted by law and equity for the benefit and in favor of, and enforceable by, the Grantor against the Grantee, its successors and assigns, and every enforceable by, the Grantor against the Grantee, its successors and assigns, and every succsuccessor in interest to the Property, or any part thereof or any interest therein, and any essor in interest to the Property, or any part thereof or any interest therein, and any party in possession or occupancy of the Property or any part thereof.party in possession or occupancy of the Property or any part thereof. 501707v1 CL205501707v1 CL205--5050 73 In amplification, and not in restriction of, the provisions of the preceding section, it is In amplification, and not in restriction of, the provisions of the preceding section, it is inteintended and agreed that the Grantor shall be deemed a beneficiary of the agreements and nded and agreed that the Grantor shall be deemed a beneficiary of the agreements and covenants provided herein, both for and in its own right, and also for the purposes of protecting covenants provided herein, both for and in its own right, and also for the purposes of protecting the interest of the community and the other parties, public or private, ithe interest of the community and the other parties, public or private, in whose favor or for whose n whose favor or for whose benefit these agreements and covenants have been provided. Such agreements and covenants benefit these agreements and covenants have been provided. Such agreements and covenants shall run in favor of the Grantor without regard to whether the Grantor has at any time been, shall run in favor of the Grantor without regard to whether the Grantor has at any time been, remains, or is an owner of any land or intereremains, or is an owner of any land or interest therein to, or in favor of, which such agreements st therein to, or in favor of, which such agreements and covenants relate. The Grantor shall have the right, in the event of any breach of any such and covenants relate. The Grantor shall have the right, in the event of any breach of any such agreement or covenant to exercise all the rights and remedies, and to maintain any actions or agreement or covenant to exercise all the rights and remedies, and to maintain any actions or suits at law suits at law or in equity or other proper proceedings to enforce the curing of such breach of or in equity or other proper proceedings to enforce the curing of such breach of agreement or covenant, to which it or any other beneficiaries of such agreement or covenant may agreement or covenant, to which it or any other beneficiaries of such agreement or covenant may be entitled; provided that Grantor shall not have any right to rebe entitled; provided that Grantor shall not have any right to re--enter the Proenter the Property or revest in the perty or revest in the obligations under this Section 3.obligations under this Section 3. IN WITNESS WHEREOF, the Grantor has caused this Deed to be duly executed in its IN WITNESS WHEREOF, the Grantor has caused this Deed to be duly executed in its behalf by its President abehalf by its President and Executive Directornd Executive Director,,this ______ day of ____________, 20___.this ______ day of ____________, 20___. The Seller certifies that the Seller The Seller certifies that the Seller COLUMBIA HEIGHTS ECONOMIC COLUMBIA HEIGHTS ECONOMIC does not know of any wells on the does not know of any wells on the DEVELOPMENT AUTHORITY DEVELOPMENT AUTHORITY described real property.described real property. A well disclosure certificate A well disclosure certificate By ____By ____ accompanies this document or has accompanies this document or has been electronically filed. (been electronically filed. (If If Its PresidentIts President electronically filed, insert WDC electronically filed, insert WDC number: __________________).number: __________________).By By I am familiar with the property I am familiar with the property described in this instrument and I described in this instrument and I Its Executive DirectorIts Executive Director certify that the status and number of certify that the status and number of wells on the described real property wells on the described real property have not changed since the last have not changed since the last previously filepreviously filed well disclosure d well disclosure certificate.certificate. 501707v1 CL205501707v1 CL205--5050 74 STATE OF MINNESOTASTATE OF MINNESOTA)) ) ss) ss COUNTY OF COUNTY OF ANOKAANOKA)) On this ____ day of On this ____ day of , 20___, before m, 20___, before me, a notary public within and for e, a notary public within and for __________ County, personally __________ County, personally Marlaine Szurek and Walter FehstMarlaine Szurek and Walter Fehstto me personally known who to me personally known who by me duly sworn, did say that they are the President and Executive Director of the Columbia by me duly sworn, did say that they are the President and Executive Director of the Columbia Heights Economic Development Authority Heights Economic Development Authority that said instrument was signed on behalf of said Authority pursuant to a resolution of its that said instrument was signed on behalf of said Authority pursuant to a resolution of its governing body; and said governing body; and said Marlaine Szurek and Walter FehstMarlaine Szurek and Walter Fehstacknowledged said instrument to be acknowledged said instrument to be the free act and dthe free act and deed of said Authority.eed of said Authority. Notary PublicNotary Public This instrument was drafted by:This instrument was drafted by:Tax Statements should be sent to:Tax Statements should be sent to: Kennedy & Graven, Charted Kennedy & Graven, Charted ________________________________________________________________ 470 U.S. Bank Plaza470 U.S. Bank Plaza________________________________________________________________ 200 South Sixth Street200 South Sixth Street________________________________________________________________ Minneapolis, MN 55402Minneapolis, MN 55402 (612) 337(612) 337--93009300 501707v1 CL205501707v1 CL205--5050 EXHIBIT BEXHIBIT B TOTO PURCHASE AND REDEVELOPMENT AGREEMENTPURCHASE AND REDEVELOPMENT AGREEMENT APPROVED PROPOSALAPPROVED PROPOSAL 501707v1 CL205501707v1 CL205--5050 EXHIBIT EXHIBIT CC TTOO PURCHASE AND REDEVELOPMENT AGREEMENTPURCHASE AND REDEVELOPMENT AGREEMENT FORM OF CERTIFICATE OF COMPLETIONFORM OF CERTIFICATE OF COMPLETION 501707v1 CL205501707v1 CL205--5050 CERTIFICATE OF COMPLETIONCERTIFICATE OF COMPLETION WHEREAS, the Columbia Heights Economic Development Authority, a public body, WHEREAS, the Columbia Heights Economic Development Authority, a public body, corporate and politic (the "Grantor"), conveyed land in Anoka County, Minnesota to corporate and politic (the "Grantor"), conveyed land in Anoka County, Minnesota to Tollberg Tollberg Homes, LLC,Homes, LLC,aaMinnesota limited liability companyMinnesota limited liability company(the "Grantee"), by a Deed record(the "Grantee"), by a Deed recorded in the ed in the Office of the Registrar of Titles in and for the County of Anoka and State of Minnesota, as Office of the Registrar of Titles in and for the County of Anoka and State of Minnesota, as Document Number _______________;Document Number _______________; andand WHEREAS, said Deed contained certain covenants and restrictions set forth in Sections 1 WHEREAS, said Deed contained certain covenants and restrictions set forth in Sections 1 and 2 of said Deed; andand 2 of said Deed; and WWHEREAS, said Grantee has performed said covenants and conditions insofar as it is HEREAS, said Grantee has performed said covenants and conditions insofar as it is able in a manner deemed sufficient by the Grantor to permit the execution and recording of this able in a manner deemed sufficient by the Grantor to permit the execution and recording of this certification;certification; NOW, THEREFORE, this is to certify that all building construcNOW, THEREFORE, this is to certify that all building construction and other physical tion and other physical improvements specified to be done and made by the Grantee have been completed and the above improvements specified to be done and made by the Grantee have been completed and the above covenants and conditions in said Deed and the agreements and covenants in Section covenants and conditions in said Deed and the agreements and covenants in Section 1155B of the B of the Agreement (as described in said Deed) have beenAgreement (as described in said Deed) have beenperformed by the Grantee therein, and the performed by the Grantee therein, and the County Recorder [and the Registrar of Titles] in and for the County of Anoka and State of County Recorder [and the Registrar of Titles] in and for the County of Anoka and State of Minnesota are hereby authorized to accept for recording and to record, the filing of this Minnesota are hereby authorized to accept for recording and to record, the filing of this instrument, to be a conclusive deinstrument, to be a conclusive determination of the satisfactory termination of the covetermination of the satisfactory termination of the covenants and nants and conditions of Sectionconditions of Section1515BBof the Agreement and the covenants and restrictions set forth in of the Agreement and the covenants and restrictions set forth in provided that the covenants set forth in Sections provided that the covenants set forth in Sections 1515FFof the of the Sections 1 and 2 of said Deed; Sections 1 and 2 of said Deed; AgreemenAgreement, and in Section 3 of the Deed, remain in full force and effect through the period t, and in Section 3 of the Deed, remain in full force and effect through the period stated thereonstated thereon .. Dated: ______________, 20___.Dated: ______________, 20___. COLUMBIA HEIGHTS ECONOMIC COLUMBIA HEIGHTS ECONOMIC DEVELOPMENDEVELOPMENTTAUTHORITYAUTHORITY By By Its PresidentIts President By By Its ExIts Executive Directorecutive Director STATE OF MINNESOTASTATE OF MINNESOTA)) 501707v1 CL205501707v1 CL205--5050 81 ) ss) ss COUNTY OF ANOKA COUNTY OF ANOKA )) The foregoing instrument was acknowledged before me this ____ day of _____________, The foregoing instrument was acknowledged before me this ____ day of _____________, 20__, by ____________________ and ____________________, the President and Executive 20__, by ____________________ and ____________________, the President and Executive Director, respectivDirector, respectively, of the Columbia Heights Economic Development Authority, on behalf of ely, of the Columbia Heights Economic Development Authority, on behalf of the authority.the authority. ____________________________________________________________________________________ Notary PublicNotary Public This document drafted by:This document drafted by: KENNEDY & GRAVEN, CHARTEREDKENNEDY & GRAVEN, CHARTERED 470 U.S. Bank Plaza470 U.S. Bank Plaza Minneapolis, MN 55402Minneapolis, MN 55402 (612) 337(612) 337--93009300 501707v1 CL205501707v1 CL205--5050 82 AGENDA SECTIONAGENDA SECTION BUSINESS ITEMBUSINESS ITEM ITEMITEM NO.NO. 77 MEETING DATEMEETING DATE JUJULY 10LY 10, 201, 20177 CITY CITY OF COLUMBIA HEIGHTS OF COLUMBIA HEIGHTS ECONOMIC DEVELOPMENTECONOMIC DEVELOPMENT AUTHORITYAUTHORITY ITEM:ITEM:Exclusive Right For Representation AgreementExclusive Right For Representation Agreement DEPARTMENT:DEPARTMENT: Community DevelopmentCommunity Development BYBY/D/DATEATE:: Keith M. DahlKeith M. Dahl, , June 29June 29, 201, 20177 BYBY/D/DATEATE:: BACKGROUND:BACKGROUND: On On JuneJune 55, 2017, the Columbia Heights Economic Develo, 2017, the Columbia Heights Economic Development Authority (pment Authority (EDAEDA) ) mmoveovedd to engage the to engage the services of Pete T. Heryla & John M. Rockwell services of Pete T. Heryla & John M. Rockwell withwith RE/MAX Synergy to represent the RE/MAX Synergy to represent the EDA EDA in acquisition of in acquisition of nonconforming properties nonconforming properties as they as they may may become available become available withwith, and , and directed staff to review the Buyer Representation Contract directed staff to review the Buyer Representation Contract submitted by RE/MAX Synergy.submitted by RE/MAX Synergy. Pursuant to the Federal Relocation Act and the Minnesota Version of the Uniform Relocation Act,Pursuant to the Federal Relocation Act and the Minnesota Version of the Uniform Relocation Act, government government agencies are responsible for relocation fees if they are proactive in acquisition of industrial, commercial or agencies are responsible for relocation fees if they are proactive in acquisition of industrial, commercial or residential property. residential property. RRelocation fees may be waived in certain circumstanceselocation fees may be waived in certain circumstances. . Owner occupants may waive Owner occupants may waive their right to relocation feetheir right to relocation fees if the owner is proactive by reaching out to the government agency or the owner s if the owner is proactive by reaching out to the government agency or the owner lists thlists their property on the open market, but tenant occupants may not waive their right to relocation fees. eir property on the open market, but tenant occupants may not waive their right to relocation fees. Thus, Thus, staff requested that RE/MAX Synergy insert the following lastaff requested that RE/MAX Synergy insert the following language into the Contract, line 117, Other: nguage into the Contract, line 117, Other: Notwithstanding any provision apparently to the contrary in this Agreement, the parties agree that Notwithstanding any provision apparently to the contrary in this Agreement, the parties agree that Broker shall not make any inquiries or other proactive contact as a representative of Buyer, to owners Broker shall not make any inquiries or other proactive contact as a representative of Buyer, to owners of properof properties in the City of Columbia Heights who are not actively listing their property. For purposes of ties in the City of Columbia Heights who are not actively listing their property. For purposes of communications directed to property owners to gaugecommunications directed to property owners to gauge their interest in selling their property or to their interest in selling their property or to inform such owners that Buyer is a potential purchaser of their property.inform such owners that Buyer is a potential purchaser of their property. RE/MAX Synergy has agreed to insert the aforementioned language into Contract. If the RE/MAX Synergy has agreed to insert the aforementioned language into Contract. If the EDA Commission EDA Commission Members agree to the Members agree to the Contract Contract asas presented, approval of Resolution 2017presented, approval of Resolution 2017--18 will effectively enter the EDA 18 will effectively enter the EDA into ainto a contractcontract with RE/MAX Synergy; authorize staff to take all actions necessary to perform the obligations with RE/MAX Synergy; authorize staff to take all actions necessary to perform the obligations of the EDA in of the EDA in said contractsaid contract; and authorize Re/MAX Synergy to respond to ; and authorize Re/MAX Synergy to respond to active listings within the City and active listings within the City and make fair market value offers of up to $200,000 on the behalf of the EDA. make fair market value offers of up to $200,000 on the behalf of the EDA. STAFF STAFF RECOMMENDATION:RECOMMENDATION: Staff recommends Staff recommends approval of the buyer representation contract with approval of the buyer representation contract with Pete T. Heryla & John M. Rockwell Pete T. Heryla & John M. Rockwell fromfrom RE/MAX SynergyRE/MAX Synergy. . RECOMMENDED MOTIONRECOMMENDED MOTION(S)(S):: Motion: Motion: Move to waive the reading of Resolution 2017Move to waive the reading of Resolution 2017--1188, there being ample copies available to the public., there being ample copies available to the public. Motion:Motion: Move to adopt Resolution 2017Move to adopt Resolution 2017--1188, , a ra resolution esolution aapproving thepproving the buyer representation contract with buyer representation contract with Re/MAX SynergyRe/MAX Synergy.. ATTACHMENTS: ATTACHMENTS: 1.1.Resolution 2017Resolution 2017--18 (2 Pages)18 (2 Pages) 2.2.Buyer Representation Buyer Representation ContractContract ((66 Pages)Pages) 83 City of Columbia Heights City of Columbia Heights EDA LetterEDA Letter COLUMBIA HEIGHTSCOLUMBIA HEIGHTSECONOMIC DEVELOPMENT AUTHORITYECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. RESOLUTION NO. 20172017--1188 RESOLUTION RESOLUTION APPROVING APPROVING BUYER REPRESENTATION CONTRACT BUYER REPRESENTATION CONTRACT WITH RE/MAX SYNERGYWITH RE/MAX SYNERGY Section 1.Section 1.RecitalsRecitals.. 1.01.1.01.TThe he Board of Board of CommissionCommissioners ers of the of the Columbia HeightsColumbia HeightsEconomic Economic DevelopmenDevelopmenis authorized under Minnesota Statutes, Sections 469.090 is authorized under Minnesota Statutes, Sections 469.090 economic development purposeseconomic development purposes.. 1.02.1.02.The Board has determined that it is neThe Board has determined that it is necessary and desirable to retain the services of a cessary and desirable to retain the services of a real estate broker for purposes of monitoring properties within the City of Columbia Heights (the real estate broker for purposes of monitoring properties within the City of Columbia Heights (the the the current City zoningcurrent City zoningcodecodeand that may become available and that may become available for sale frofor sale from time to time, in order m time to time, in order to potentially make offers for such property based on thento potentially make offers for such property based on then-- current market valuescurrent market values.. 1.03.1.03.The Board has received proposals from real estate brokers, and has determined to The Board has received proposals from real estate brokers, and has determined to 1.041.04..TThe Board he Board expressly finds and determines that authorizing the Broker to respond to expressly finds and determines that authorizing the Broker to respond to active listings and develop offers active listings and develop offers greement greement does not imply any exercise does not imply any exercise any power of eminent domain that may be available to the Authority pursuant to the EDA Act, and any power of eminent domain that may be available to the Authority pursuant to the EDA Act, and that the EDA will not that the EDA will not exercise such power in pursuing the acquisition of any nonconforming exercise such power in pursuing the acquisition of any nonconforming ement.ement. Section 2.Section 2.Approval of Approval of .. 2.01.2.01.The The AuthorityAuthorityhereby approves the hereby approves the presented, subject to modifications that do not alter the substance of the transaction and that are presented, subject to modifications that do not alter the substance of the transaction and that are approved by theapproved by the Agreement by such officials shall be conclusive evidence of approval.Agreement by such officials shall be conclusive evidence of approval. 2.02.2.02.Authority staff and officials are authorized to take all actions necessary to perform Authority staff and officials are authorized to take all actions necessary to perform bligations under thebligations under theas a whole, including without limitation as a whole, including without limitation execution of execution of any documents to which the Authority is a party referenced in or attached to the any documents to which the Authority is a party referenced in or attached to the .. 2.03.2.03.The Board hereby authorizes the Broker to respond to The Board hereby authorizes the Broker to respond to active listings within the City, active listings within the City, formal approvalformal approvalof such offersof such offersby the Board, subject to ratification of such offers by the Authority if by the Board, subject to ratification of such offers by the Authority if accepted by the seller oaccepted by the seller of the property.f the property. 502428v1 MNI CL205502428v1 MNI CL205--6767 Adopted by the Adopted by the Columbia Heights Columbia Heights Economic Development Authority Economic Development Authority this this 10th10thof of JulyJuly,, 2012017.7. ____________________________________________________________________ PresidentPresident ATTEST:ATTEST: ____________________________________________________________________________ SecretarySecretary 502428502428v1 MNI CL205v1 MNI CL205--6767 85 BHFODZ!SFMBUJPOTIJQT!JO!!BHFODZ!SFMBUJPOTIJQT!JO!! 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