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HomeMy WebLinkAboutEDA RES 2017-32COLUMBIA HEIGHTS ECONOMIC DEVELOPMENTAUTHORITY RESOLUTION NO. 2017-32 RESOLUTION APP ROVINGPURCHASE AND REDEVELOPMENT AGREEMENT WITH HOME DETAIL, INC. — 4641 POLK STREET NE BE IT RESOLVED BY the Board of Cornniissioners ("Board") of the Columbia Heights Economic Development Authority (the "Authority") as follows- Section 1, Recitals. 1,01. The Authority has previously adopted a prograrn called the Single Family Home Lot Sales Program (the "Prograrn"), 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 4641 Polk 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 "Agreernent") 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 Agreernent 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, and that such conveyance has no relationship to the City's comprehensive plan. Section 2. Approval and Authorization of Ageement 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. 509801v I MNICL205-70 Approved by the Board of CornmkSiOrlerS Of the Columbia HeiLJmts, Economic Development Authority this 4th day offlecember, 2017. Lk P'resid Nit Secretary 5098010 MNI CL205-70 Z= That Part of Lot 23 lying north of the south 20 feet of said Lot 23, and Lot 24, in Block 1, Sheffield's Second Subdivision, Anoka County, Minnesota according to the recorded plat thereof, and situate in Anoka County, Minnesota 5098 1v MN[CL205-?0