HomeMy WebLinkAboutEDA RES 2013-08COLUMBIA HEKAITS ECONOMIC" DEVELOI,,M.EN'I'AIJTHO( f ..I'I'Y
RESO1.UFlON NO. 2013-08
7
RESOLUTION APPROVING A PURCHASE AND REDEVI"J.-OPMENT
CONTRACT BETWEEN THE COLUMBIA HEIGHTS ECONOMIC
DEVELOPMENT AUTHORITY ANDTIMBERCRAF'T REMODELING
BE IT RESOLVED By the Board of Commissioners ("Board") of the Columbia Heights
Economic Development Authority ("Authority") as follows:
Section 1, Recitals.
I.01. The Authority has the powers of a housing and redevelopment authority, pursuant to
Minnesota Statutes, Sections. 469,090 to 469,108 ("EDA Act"'), and is currently administering the
Downtown CBD Redevelopment Project ("Redevelopment Project") pursuant to Minnesota
Statutes, Sections 469,001 to 469,047 ("'1 IRA Act").
1.02. The Authority administers a scattered site housing prograin, under which, the
Authority acquires residential property for resale to builders or individuals for construction of new
single family homes,
1.03. The Authority and 'Firnbercraft Remodeling (the "Redeveloper") have proposed to
enter into a Purchase and Redevelopment (the "Contract"), setting forth the terms and conditions for
sale of certain property within the Redevelopment Project located at 4421 5'1' SL NE Street and
described as Lot 21, Block 18, Columbia I leights Annex to Minneapolis (the "Subject Property").
1.04. On June 3, 2013, the Authority held a public hearing regarding conveyance of
various parcels owned by the Authority as part of the scattered site housing program -- including the
Subject Property--at which all interested persons were given an opportunity to be heard,
1.05. The Board has reviewed the Contract and finds that the execution thereof and
performance of the Authority's obligations thereunder farther the goals of the Redevelopment
Project and are in the best interests of the City and its residents.
Section 2. Authority alp )roval- Further Proggsdings.
101. The Contract as presented to the Board is hereby in all respects approved, subject to
modifications, that do not alter the substance of the transaction and that are approved by the
President and Executive Director, provided that execution of the documents by such officials shall
be conclusive evidence of approval,
102. The Authority approves conveyance of the Subject Property to the Redeveloper,
subject to satisfaction of all terms and conditions of the Contract, and authorizes and directs the
President and Executive Director to execute the, deed and any other docurnents, necessary to carry
out such real estate transaction,
2,03. Authority and City staff are aUth0rized and directed to take all actions to imPlenient
the Contract.
Approved by the Board of Commissioners of the Columbia Heights Economic Development
Authority this 3rd day of June, 2013.
o, Li
Presid nt
ATTEST:
Secretary