HomeMy WebLinkAboutEDA RES 2017-31COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2017-31
RESOLUTION APPROVING PURCHASE AND REDEVELOPMENT
AGREEMENTWIT11 HOME DETAIL, INC. — 4201 JEFFERSON STREET NE
BE IT RESOLVED BY the Board of Commissioners ("Board") of the Columbia Heights
Economic Development Authority (the "Authority") as follows:
Section 1. Recitals,
LOL The Authority has previously adopted a program called the Single Family Home Lot
Sales Program (the "Program"), and has adopted guidelines in connection with the Program (the
"Guidelines"),
1.02. The Authority has received an offer from. Home Detail, Inc. (the "Buyer") to
purchase certain property located at 4201 Jefferson Street NE in the City of Columbia Heights
(the "City") and included in the Program, described as attached hereto as Exhibit A (the
"Property"), and the parties have negotiated a Purchase and Redevelopment 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 the date hereof, the Authority conducted a duly noticed public hearing regarding
the conveyance of the Property pursuant to the Program, at which all interested parties were given
an opportunity to be heard.
1.04. The Board has reviewed the Agreement and finds that the execution thereof and
perforrnance 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,
and that such conveyance has no relationship to the City's comprehensive plan.
Section 2. Apvroval and Authorization of Apyeement and Conveyance
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
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.
5098020 MNICI.,205-69
Approved by the Board of Conunissioners of the Columbia Heights Economic Development
Authority this 4th day of Decernber, 2017,
Nv -
P'residebt
ATTEST:
Secretary
509802v MNI CL205-69
M 1' �-
Z=
Lo t 16,, Block 32, Columbia Heights Annex to Minneapolis, Anoka County, Minnesota,
5098020 MNICL205-69