HomeMy WebLinkAboutEDA RES 2015-081 6,
RESOLUTION APPROVING A PURCHASE k;.
AGREEMENT (INCLUDING THE SALE OF LAND) BETWEEN THE
COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY AND
TIMBERCRAFT ENTERPRISES, INC.
BE IT RESOLVED By the Board of Commissioners ("Bo'ard") of the Columbia Heights
Economic Development Authority ("Authority") as follows:
Section 1. Recitals,
1.01. The Authority has determined a need to exercise the powers of a housing and
redevelopment authority,, pursuant to Minnesota Statutes, Sections 469.090 to 469'.108 ("EDA
Act").
1.02. The Authority and Timbercraft Enterprises, Inc. (the "Buyer") have proposed to
enter into a Purchase and Redevelopment Agreement (the "Contract"), setting forth the terms and
conditions of sale and redevelopment of certain property owned by the Authority, located at 3842
Tyler Street NE and described as WALTONS I ST SUB OF RES HILLS, CITY OF COLUMBIA
HEIGHTS LOT 7, BLK 4, WALTONS 1ST SUB OF RESERVOIR HILLS, Anoka County,
Minnesota (the "Property"),
1,03, Pursuant to the Contract, the Buyer will acquire the Property and will construct
single family home, subject further to the City's zoning and building codes and policies.
1.04, The Authority has on this date conducted a duly noticed public hearing regarding the
sale of the Property to the Buyer, at which all interested persons were given an opportunity to be
heard.
1.05. The Authority finds and deten-nines that conveyance of the Property to the Buyer has
no relationship to the City's comprehensive plan, in that no amendment or modification of the
comprehensive plan is required for the conveyance or redevelopment of the Property. The activities
of the parties under the Contract implement housing goals of the City's Comprehensive Plan:
"Promote and preserve the single-family housing stock as the community's strongest asset." and
"Provide a variety of life-cycle housing opportunities within the community."
1.06. The Board has reviewed the Contract and finds that the execution thereof and
performance of the Authority's obligations thereunder are in the public interest and will further the
objectives of its general plan of economic development and redevelopment, because it will further
the above-stated housing goals.
Section 2, Authority Approval; Further Proceedings.
�s.
101. The Contract as presented to the Board, including the sale of the Property described
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therein, 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 docur-rents by such officials shall be conclusive evidence of approval.
2.02. The President and Executive Director are hereby authorized to execute on behalf of
the Authority the Contract and any documents referenced therein requiring execution by the
Authority, including without limitation the deed, and to carry out, on behalf of the Authority, its
obligations thereunder.
2.03. Authority and City staff are authorized and directed to take all actions to implement
the Contract.
Approved by the Board of Commissioners of the Colwnbia Heights Economic Development
Authority this I' day of June, 2015.
ATTEST:
4 Secretary
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