HomeMy WebLinkAboutEDA RES 2018-05RESOLUTION APPROVING A FIRST AMENDMENT OF A PUIRC�HASE AGREEMENT BETWEEN THE COLUMBIA
HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY AND HOME DETAIL, INC.
BE IT RESOLVED BY the Board of Commissioners ("'Board ") of the Columbia Heights Economic Development
Authority (the "Authority") as follows:
1.01. The Authority currently administers its Single Family Home Lot Sales Program within the City of
Columbia Heights (the "City"), pursuant to Mlinnesota Statutes, Sections 46,9.090 to 469.1081, as amended.
1.02. Pursuant to a duly noticed public hearing on the sale of Authority property, the Authority and
Home Detail, Inc. (the "Buiyer") executed a Purchase Agreement, dated as of December 4, 2017 (the
"Agreement "), providing for the conveyance by the Authority to the Seller of certain property located at 4201
Jefferson Street NE within the City, legally described as follows:
Lot 16, Block 32, Columbia Heights Annex to Minneapolis, Anoka County, Minnesota (the "Property").
1.03. The parties have negotiated and propose to execute a First Amendment to the Agreement (the
"First Amendment") to extend the deadline for the conveyance of the Property.
SECTION 2. FIRST AMENDMENT APPROVED.
2.01. The First 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 approved by the President and
Executive Director, provided that execution of the First Amendment by such officials shall be conclusive
evidence of approval.
2,02. The President and Executive Director are hereby authorized to execute on behalf of the
Authority the First 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.
Passed this 26th day of March, 2018
Resolution 2018-05