HomeMy WebLinkAboutEDA RES 2015-14COLUMBIA HEIGI ITS ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2015-14
RESOLUTION APPROVING THE SALE OF LAND AND PURCHASE AND
REDEVELOPMENT AGREEMENT BETWEEN THE COLUMBIA HEIGHTS
ECONOMIC DEVELOPMENT AUTHORITY AND BUYER
BE IT RESOLVED By the Board of Commissioners ("Board") of the Columbia Heights
Economic Development Authority ("Authority") as follows:
Section 1. Recitals.
is� --
1.41. 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 purchaser (the "Redeveloper") 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
4631 Pierce Street NE and described as LOT 4, BLK 1, PARKVIEW TERRACE to Columbia
Heights, Anoka County, Minnesota (the "Redevelopment Property").
1.03. Pursuant to the Contract, the Redeveloper will acquire the Redevelopment Property
and construct an owner occupied single family house, subject to the City's zoning and building
codes.
1.44. The activities of the Authority under the Contract implement housing goals of the
City's Comprehensive Plan: "Promote and preserve the single-family housilig stock as the
community's strongest asset." and "Provide a variety of life -cycle housing opportunities within the
community."
1.05. The Board has reviewed the Contract and finds that the execution thereof and
perfort-nance of the Authority's obligations thereunder further the goals of the Comprehensive Plan
and are in the best interests of the City and its residents.
Section 2. Authorit I A )roval• Further Prorpp,lin s.
2.01. The Contract as presented to the Board, including the sale of the Redevelopment
Property described 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 docurnents by such officials shall be conclusive evidence of approval.
102, 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, 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 Columbia Heights Economic Development
Authority this 3rd day of August, 2015. �
ATTEST:
Secretary