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HomeMy WebLinkAboutEDA RES 2016-03COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2016i-03 RESOLUTION APPROVING PURCHASE AND REDEVELOPMENT AGREEMENTS WITH TOLLBERG HOMES, LLC. BE IT RESOLVED BY the Board of Commissioners ("Board") of the Columbia Heights Economic Development Authority (the "Authority") as follows: Section 1, Recitals, 1.01, The Authority has previously adopted a program called the Single Family Home Lot Sales Program (the "Program"), and has adopted guidelines in connection with the Program (the "Guidelines"). 1.01 The Authority has received an offer from Tollberg Homes, LLC (the "Buyer"') to purchase certain properties included in the Program (the "Property"), described as attached hereto as Exhibit A, and the parties have negotiated Purchase and Redevelopment Agreements (the "Agreements*") which provide for the conveyance of the Property to the Buyer and the construction by the Buyer of single-family homes on the Property, all pursuant to the Guidelines. 1.03. On October 21, 2015, the Planning Commission of the City reviewed the proposed conveyance of the Property pursuant to the Program and found that such conveyance is consistent with the City's comprehensive plan. 1.04. The Authority has on this date conducted a duly noticed public hearing regarding the conveyance of the Property to the Buyer, at which all interested parties were given an opportunity to be heard. 1.05. The Board has reviewed the Agreements and finds that the execution thereof and performance of the Authority's obligations thereunder, including the conveyance of the :property to the Buyer, are consistent with the Guidelines and in the best interest of the City and its residents. Section 2, Approval and Authorization of Ageements and Conve yance 2.01. The Agreements 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 substance of the transaction and that are approved by the President and Executive Director provided that execution of the Agreements by such officials shall be conclusive evidence of approval. 2.02. Authority staff and o�fficials are authorized to take all actions necessary to perform the Authority's obligations under the Agreements as a whole, including without limitation execution of any documents to which the Authority is a party referenced in or attached to the Agreements, and any deeds or other documents necessary to convey the Property to the Buyer, all as described in the Agreements. 473153vl MNI C1,205-.55 Section 3, Effective Date. This resolution shall be effective upon approval. Approved by the Board of Commissioners of the Columbia Heights Economic Development Authority this 4th day of January, 2016, Secretary 4731530 MNICL205-55 M= DD '-N AD ASS . . .... . . . ......... . . L A LEGAL LEGAL DESCRIPTION 't PID 0( 4606 Polk Street NE L 3 Lot 13, except the North V2, th-e —North 30 feet —of Lot 25-30�-24-33-003�O -30 4 B 14, Block 2, Sheffield's Second Subdivision, Anoka C 0 u n t C ty, Mmnesota [To onn , Minnesota [Torrens] 4636 Polk Street NE Street L o t 5 of 5, except the North 35 feet thereof, all of Lot 6, 25-30-24-33-0025 a n d th and the North '/2 of Lot 7, in Block 2, Sheffield's S Se'c'ond 0 I Second Subdivision, Anoka County, Minnesota en rr I [Tarre s] 4641 Tyler Street NE Street NET25 L-ot25 and the South 2t of Lot 2'-6, —Block 2"" Lo t 25-30-24-:37Y--0038 Sheffield's Sh f Sheffield's Second Subdivision, Anoka County, Mi rine, M�innesota LTorrens] 4600 Polk Street NE Lot 14, except the North 3 0 feet thereof, and —dot I 5, -�3 �3 -603-1 Block 2, Sheffield's Second Subdivision, Anoka County, MLruiesota [ToEens] 4648 Polk Street NE South 1/2 ofLot 2, and all of Lot 3, Block 2, 2 25-30-24-33-0'023 Sheffield's Second Subdivision, Anoka County, _ Minnesotaffo.!j�ens] 4) 1 8Polk Street NE Lot 11, and the North I feet of Lot 12, Block 2, --25-30--2 4---33---- 0028 Sheffield"s Second Subdivision, Anoka County, Minnesota [3 "omens 4731530 MNI 01205-55