HomeMy WebLinkAboutEDA RES 2017-05COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY
ED�A RESOLUTION NO. 2017-05
PROGRAM, INC.
BE IT RESOLVED BY the Board of Commissioners ("Board") of the Colurribia Heights
Economic Develops -neat Authority (the "Authority") as follows:
Section 1. Recitals.
1,01. The Authority currently administers the Downtown CBI Redevelopment Project
(the "Project") within the City of Columbia Heights (the "City"), pursuant to Minnesota Statutes,
Sections 469.090 to 469.1082, as amended.
1.01 The Authority and Anoka County Community Action Program, Inc. (the "Seller"')
executed a Purchase Agreement, dated as of May 26, 2016 (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. On October 28, 2016, the parties entered into a Second Amendment to the Purchase
Agreement (the "First Amendment-) to further extend the deadline for conveyance of the Property.
1.05. The parties have negotiated and propose to execute a Third Amendment to the
Agreement the '-Third Amendment") to further extend the deadline for the conveyance of the
Property.
Section 2. Third Amendment Approved.
2,01. The Third 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 Third
Amendment by such officials shall be conclusive evidence of approval.
493644v I SJS CL205-62
2.02. The President and Executive Director are hereby authorized to execute on behalf
of the Authority the Third Amendnient 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 staff and consultants are authorized to take any actions necessary to
carry out the intent of this resolution.
Approved by the Board of Commissioners of the Columbia Heights Economic
Development Authority this 6th day of February
.--, 2017.
Presid nt
Assistant Se
Assistant
4936440 SJS CL205-62