HomeMy WebLinkAboutEDA RES 2019-21RESOLUTION NO. 2019 -21
A RESOLUTION OF THE ECONOMIC DEVELOPMENT AUTHORITY OF
COLUMBIA HEIGHTS, MINNESOTA, AUTHORIZING ACTION TO TERMINATE
CERTAIN LEASEHOLD INTEREST(S) OF 3989 CENTRAL AVENUE NORTHEAST,
COLUMBIA HEIGHTS, MINNESOTA
BE IT RESOLVED BY the Board of Commissioners (`Board ") of the Columbia Heights
Economic Development Authority (the "EDA ") as follows:
WHEREAS, on or about July 31, 2019, the EDA acquired real property located at 3989 Central
Avenue Northeast, Columbia Heights, Minnesota (the "Property ");
WHEREAS, through its acquisition of the Property, the EDA succeeded as the lessor in a
Rooftop Lease and Partial Assignment Agreement dated June 14, 2011 ( "Rooftop Lease "), for
the long -term lease of premises on the Property for wireless communications equipment;
WHEREAS, on or about August 5, 2019, the EDA entered into a preliminary development
agreement with Alatus LLC to redevelop the Property and the adjacent parking ramp owned by
the City of Columbia Heights (the "City ");
WHEREAS, the EDA and Alatus desire to commence the redevelopment project by the spring of
2020;
WHEREAS, the leasehold interests under the Rooftop Lease will need to be terminated before
the aforementioned redevelopment project may commence;
WHEREAS, the leasehold interests under the Rooftop Lease may be terminated through formal
lease termination, eminent domain, or other legal action.
NOW, THEREFORE BE IT RESOLVED, that the EDA hereby approves the termination of
the leasehold interest(s) under the Rooftop Lease and authorizes Columbia Heights Community
Development to take such action as necessary and appropriate to carry out the foregoing
resolution.
ORDER OF ECONOMIC DEVELOPMENT AUTHORITY OF COLUMBIA HEIGHTS
Passed this 7th day of October, 2019
Offered by: Buesgens
Seconded by: Novitsky
Roll Call: All ayes
Attest: "
�ilD E 1_ 0 AA Z MY'\
Secretary
Marl ine Szurek, Pr! si ent