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HomeMy WebLinkAboutEDA RES 2017-17COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORrry RESOLUTION NO. 2017-17 RESOLUTION APPROVING PURCHASE AND REDEVELOPMENT AGREEMENT' IT" TOLL BERG HOMES, LLC. 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 has previously adopted a program called the Single Family Home Lot Sales Program (the "Program") providing for the conveyance of certain Authority-owned property in the City of Columbia Heights (the "City"), and has adopted guidelines in connection with the Program (the "Guidelines"). 1.02. The Authority has received an offer from Tollberg Homes, LLC (the "Buyer") to purchase certain property included in the Program (the "Property"), described as attached hereto as Exhibit A and located at 4647 '1"'yler Street in the City, and the parties have negotiated a Purchase and Redevelopnient 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 Progran-1 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 forni on file at the office of the Executive Director and finds that the execution thereof and performance 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. 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 under 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 502222v I MNI CL205-50, 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 I Otb day of July, 2017. A4... Vice President ATTEs'r,- Al- Secretary 502222v1 6v NI W= Lot Twenty-six (26,) except the South 20 feet of" said Lot 'I wenty-six (2 6) and all of Lot Twenty- seven (27), in Block'Fwo (2) ol'Sheffield's Second Subdivision Anoka Co. Minn. according to the plat thereof on file in the Office of the Register of Deeds in and for said County and State. 502222vt MNICL205-50