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HomeMy WebLinkAboutEDA RES 2018-031.02. The Authority has received an offer from Tollberg Homes, LL 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 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 to the Buyer, at which all interested parties were given an opportunity to be heard. 1.04. The Board has reviewed the Agreement in the form on file at the office of the Executive Director and findls 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. APPROVAL AND AUTHORIZATION OF AGREEMENT AND CONVEYANCE., 2.01. The Agreement as presented to the Board and the conveyance of the Property provided for therein are hereby iln 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. Resolution 2018-03 City of Columbia Heights .-, EDA Resolution Offered by: Schmitt Seconded by: Nov itsky Roll Call: All ayes fl�A President k Attest: Assistant Secretary City of Columbia Heights — EDA Resolution Z= Lot Twenty'-five (25) and the South 20 feet of Lot Twenty-six (26), Block Two (2) of Sheffield's Second Subdivision. IM