HomeMy WebLinkAboutEDA RES 2016-16COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO, 2016-16
RESOLUTION APPROVING A PURCHASE AND REDEVELOPMENT
AGREEMENT (INCLUDING THE SALE OF LAND) BETWEEN THE
COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY AND
']"'IMBERCRAFT ENTERPRISES, INC.
BE IT RESOLVED By the Board of Commissioners ("Board"') of the Columbia Heights
Econornic 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"), and has previously established its Central Business District Redevelopment Project (the
"Project") within the City of Columbia Heights (the "City") and its City-Wide Scattered Site Tax
Increment Financing District (the "TIF District") within the Project, and has developed program
design guidelines in connection with the construction of homes within the TIF District (the
"Guidelines"),
1.02. The Authority and TirnberCraft Enterprises, Inc. (the "Buyer") have proposed to
enter into an Amended Purchase and Redevelopment Agreement (the "Contract"), setting forth the
ten-ns and conditions of sale and redevelopment of certain property within the T11"District, currently
owned by the City, located at 4011 5h Street NE and described as Lot 18, Block 52, Columbia
Heights Annex to Minneapolis, Anoka County, Minnesota (the "Property").
1.03. Pursuant to the Contract, the Buyer will acquire the Property and will construct a
single-family home, subject further to the Guidelines and to the City's zoning and building codes
and policies.
1.04. On this date; the City Council of the City is scheduled to consider an ordinance
approving, the conveyance of the Property to the Authority (the "Ordinance"), The conveyance
of the Property by the Authority to the Buyer is contingent on the conveyance of the Property by
the City to the Authority.
1.05. 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.
1.06, The Authority finds and determines 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 established for the TIF District pursuant
to the Tax Increment Financing Plan for the TIF District.
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1.07. 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 econornic development and redevelopment, because it will further
the above-stated housing goals.
Section 2. Authority Approval Jurther Proceedings.
2.01, The Contract as presented to the Board, including the sale of the Property described
therein, is hereby in all respects approved, subject to approval of the Ordinance by the City Council
and 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, 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 Columbia Heights Economic Development
Authority this 13th day of June, 2016,
President
ecretamy
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