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HomeMy WebLinkAboutEDA RES 2016-32COLUMBIA HEIGHTS ECONOMIC DEVELOPM ENT' AUTHORITV E RESOLUTION NO. 2016-32 RESOLUTION APPROVING A SECOND AMENDMENT TO A PURCHASE AGREEMENT BETWEEN THE C0LUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY AND ANOKA COUNTY COMMUNITV ACTION PROGRAM, INC. BE IT RESOLVED BY the Board of Commissioners ("Board") of the Columbia lieights Economic Development Authority (the "Authority") as follows: Section 1. Recitals, 1.01. The Authority currently administers the Downtown CBD Redevelopment Project (the "Project") within the City of Columbia Heights (the "City"), pursuant to Minnesota Statutes, Sections 469.090 to 469. 1082, as arnended. 1.02. The Authority and Anoka County Community Action Protlam, Inc. (the "Seller") executed a Purchase Agreement, dated as of May 26, 20 16 (the "Agreement"),, providing for the conveyance by the Seller to the Authority of certain property within the Project and City legally described as follows: That part of Lot 23 lying north of the South 20 feet of the SD Lot 23 and Lot 24, Block 1, Sheffields 2 d Subdivision, County of Anoka, State of Minnesota (the "Property"). 1.03. On August 31, 2016, the parties entered into a First Amendment to the Purchase Agreement (the "First Amendment") to extend the deadline for conveyance of the Property. 1.04. The parties have negotiated and propose to execute a Second Amendment to the Agreement (the "'Second Amendment") to further extend the deadline for the conveyance of the Property, Section 2. Second AmenqcAh-n,,P-nt An" roved. 2.011. The Second Amendment as presented to the Board 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 Second Amendment 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 Second Amendment and any documents referenced therein requiring execution by the Authority, and to carry out, on behalf of the Authority, its obligations thereunder, 489062v I SJS CL205-62