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HomeMy WebLinkAboutEDA RES 2015-18COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY RESOLOTION NO, 2 O 15 —18 RESOLUTION RATIFYING THE SALE OF LAND AND PURCHASE AND, REDEVELOPMENT AGREEMENT BETWEEN THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY AND HOME DETAIL, INC. BE IT RESOLVED By the Board ofCorrimissioners ("Board"') of the Columbia Heights Economic :development Authority ("Authority"') as follows: Section 1. Recitals. 1.014 The Authority has determined a need to exercise the powers of a housing and redevelopment authority, pursuant to Minnesota Statutes, Sections, 469.090 to 469.1082 ( "ELBA Act"). 1.02. The Authority and Home Detail, Inc. (the "Redeveloper") have proposed to enter into a P[JRCHASE AND RE,DEVELOPMENT 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 Four (4), Block One (1), Parkview Terrace, 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. 1,04. The Authority previously adopted its Resolution No. 2015-14, approving the sale of the Redevelopment Property subject to acceptance by the Redeveloper of its proposed sale price of $20,000 by August 18, 2015. 1.05, The Redeveloper has accepted the proposed sale price for the Redevelopment Property, and the Authority has found and determined that it is in the City's best interest to ratify its approval of the sale of the Redevelopment Property to the Redeveloper. 1.06, The Authority finds and determines that conveyance of the Redevelopment Property to the Redeveloper 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. Furthermore, the activities of the Authority 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 "Pro'vide a variety of life-cycle housing opportunities within the community." 1 .OT The Board has reviewed the Contract and finds that the execution thereof and perforinance of the Authority's obligations thereunder are in the best interests of the City and its residents. 466009v2, N4NJ CU05-54 Section 2. Authority Approval, Further Proccedin(Ye. 2.01. The Contract in substantially the form 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 documents 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, 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 finalize and implement the Contract and to finalize the conveyance of the Redevelopment Property. Approved by the Board of Commissioners of the Columbia Heights Economic Development Authority this 8th day of September, 2015. 4 Pressi ent'�4rl ATTEST: Secretary 4660090 MNI CI 205-54 2