HomeMy WebLinkAboutEDA RES 2017-09COLUMBIA HEIGHTS ECONOMIC DEVEI.,OPMENT AUTHORITY
EDA RESOIXTION NO. 2017-09
RESOL,uTION APPROVING A FOURTH AMENDMENT
TO A PURCHASE AGREEMENT BETWEEN THE
COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT
AUTHORITY AND ANOKA COUNTY COMMUNITY
ACTION PROGRAM, INC.
BE IT RESOLVED BY the Board of Commissioners ("Board") of the Columbia Heights
Economic Development 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 469.1 082, as amended,
1.01 The Authority and Anoka County Community Action Program, Inc. (the "Seller")
executed a Purchase Agreement, dated as of May 26, 2.016 (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.
1.051. On February 6, 2017, the parties entered into a. Third Amendment to the Purchase
Agreement (the "Third Amendment") to further extend the deadline for conveyance of the Property.
LW The parties have negotiated and propose to execute a Fourth Amendment to the
Purchase Agreement (the "Fourth Amendment") to further extend the deadline for the
conveyance of the Property.
11
Section 2. Fourth Amendment Approved.
2.01. The Fourth 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
I.
4968650 NK,ECL205-62
approved by the President and Executive Director, provided that execution of the Fourth
Amendment by such officials shall be conclusive evidence of approval.
102. The President and Executive Director are hereby authorized to execute on behalf
of the Authority the Fourth Amendment 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.. 4 1
day of _ _4PYA-1 2017.
Vice President
ATTEST:
Secretary
2
496865v] NKECJ-205-62