HomeMy WebLinkAboutEDA RES 2017-08COLUMBIA HEIGHTS ECONO l(.' I)E,VELOPMENIAUTHOR,ITY
RESOLUTION NO. 2017-08
RESOLUTION APPROVING PURCHASE AND REDEVELOPMENT
AGREEMENT WITH TO LLB BERG HOMES, LLB'.
BE 11' RESOLVED BY the Board of Commissioners ("Board") of the Colurnbia liclo, its
Econornic Development Authority (the "Authority") as follows:
Section 1. Recitals.
LOL The Authority has previously adopted a program called the Single Family llorne Lot
Sales Programs (the "Program"). and has adopted guidelines in connection with the Program (the
"Guidelines"),
1.02. The Authority has received an offer from Tollberg Homes, 1-1-C (the "Buyer") to
purchase certain property included in the Program (the "Property"), described as attached hereto
as Exhibit A, and the parties have negotiated a Purchase and Redeveloprnent Agreement (the
"Agreement") which provides for the conveyance of the Property to the Buyer and the
construction by the Buyer of a single-family home on the Property, all pursuant to the
Guidelines.
1.03. On October 21, 2015, the Planning Commission of the City reviewed the
proposed Program and found that the conveyance of property pursuant to the Program is
consistent with the City's comprehensive plan,
1.04. On the date hereof, the Authority 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 Agreement in the form on file at the office of the
Executive Director and finds that the execution thereof and perforniance 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,Agreement and CoqyUance
2.01. The Agreement 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 Agreement by such officials shall be conclusive evidence of approval.
2.02. Authority staff and officials are authorized to take all actions necessary to perform
the Authority's obligations Linder the Agreement as a whole, including without limitation execution
of any documents to which the Authority is a party referenced in or attached to the Agreement, and
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any deeds or other documents necessary to convey the Property to the Buyer, all as described in the
Agreement,
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 3rd day of April, 2017,
Vice President
Secretary
496818vI MNICL205-52
I&NIHIII
Property
Lot twenty-five (2 5) and Lot 'Twenty-six (2 ), Block One (1). Sheffield's Second Subdivision as
shown by the plat now on file and of record in the office of the Register of Deeds at Anoka,
Anoka County, Minnesota.
496818vt NINICL205-52