HomeMy WebLinkAboutEDA RES 2016-24COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2016-24
RESOI..,UTION APPROVING A PURCHASE AND REDEVELOPMENT
AGREEMENT (INCLUDING THE SALE OF LAND) BETWEEN THE
COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY AND
TIMBERCRAFT ENTERPRISES, INC.
BE IT RESOLVED Bv the Board of Commissioners ("Board") 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 469.1081 ("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
"Guide I i nes").
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 tennis and
conditions of sale and redevelopment of certain property within the TIT District, currently owned by
the Authority, located at 4235 Washington Street NE and described as the North .10 feet of Lot 23,
and all of Lot 24, Block 31, 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 horne, subject further to the Guidelines and to the City's zoning and building, codes
and policies,
1.04. The Authority previously 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,
and approved the conveyance of the Property pursuant to the Guidelines by Resolution No. 2013-
OT
1.05, 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 arriendinent 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 TIE District.
1.06. The Board has reviewed the Contract and finds that the execution thereof and
perfon-nance of the Authority's obligations thereunder are consistent with the Guidelines, and are in
the public interest and will further the objectives of its general plan of econornic development and
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redevelopment, because they will further the above-stated housing goals.
Section 2. Authoill ity A Droval- Further,Proccedings.
101. The Contract as presented to the Board, including the sale of the 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, 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 6th day of September, 2016.
ATTEST:
Secretary
485383v I MNI CL-10549 2