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HomeMy WebLinkAbout2009 05-11 EDAP• EDA MEETING City of Brooklyn Center May 11, 2009 AGENDA 1. Call to Order -The EDA requests that attendees turn off cell phones and pagers during the meeting. A copy of the full- City- Council packet, including EDA (Economic Development Authority) is available to the public. The packet ring binder is located at the front of the Council Chambers by the Secretary. 2. Roll Call 3. Approval of Agenda and Consent Agenda -The following items are considered to be routine by the Economic Development Authority (EDA) and will be enacted by one motion. There will be no separate discussion of these items unless a Commissioner so requests, in which event the item will be removed from the consent agenda and considered at the end of Commission Consideration Items. a. Approval of Minutes 1. April 27, 2009 - Regular Session • 4. Commission Consideration Items a. Resolution Authorizing the Acquisition of 5836 Brooklyn Boulevard in Connection with the Remove and Rebuild Program Requested Commission Action: -Motion to adopt resolution. 5. Adjournment 0 • EDA Agenda Item No. 3a 0 • MINUTES OF THE PROCEEDINGS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF BROOKLYN CENTER IN THE COUNTY OF HENNEPIN AND THE STATE OF MINNESOTA REGULAR SESSION APRIL 27, 2009 CITY HALL - COUNCIL CHAMBERS 1. CALL TO ORDER The Brooklyn Center Economic Development Authority (EDA) met in Regular Session called to order by President Tim Willson at 8:25 p.m. 2. ROLL CALL President Tim Willson and Commissioners Kay Lasman, Tim Roche, Dan Ryan, and Mark Yelich. Also present were Executive Director Curt Boganey, Public Works Director/City Engineer Steve Lillehaug, Director of Business and Development Gary Eitel, Police Chief Scott Bechthold, Assistant City Manager/Director of Building and Community Standards Vickie Schleuning, City 'Attorney Charlie LeFevere, and Carla Wirth, TimeSaver Off Site Secretarial, Inc. • 3. APPROVAL OF AGENDA AND CONSENT AGENDA Commissioner Lasman moved and Commissioner Roche seconded approval of the Agenda and Consent Agenda,',and the following item was approved: 3a. APPROVAL OF MINUTES 1-:: March 9, 2009 - Regular Session Motion passed unanimously. 4. COMMISSION CONSIDERATION ITEMS 4a. RESOLUTION NO. 2009-07 AMENDING THE FINAL BUDGET FOR THE CITY OF BROOKLYN CENTER ECONOMIC DEVELOPMENT AUTHORITY FOR FISCAL YEAR 2009 Mr. Boganey introduced the item, discussed the history, and stated the purpose of the proposed resolution. • 04/27/09 -1- DRAFT • Commissioner Lasman moved and Commissioner Ryan seconded approval of EDA RESOLUTION NO. 2009-07 Amending the Final Budget for the City of Brooklyn Center Economic Development Authority for Fiscal Year 2009. President Willson thanked staff for their great effort to balance the budget. Motion passed unanimously. 5. ADJOURNMENT Commissioner Lasman moved and Commissioner Ryan seconded adjournment of the Economic Development Authority meeting at 8:27 p.m. Motion passed unanimously. 04/27/09 -2- DRAFT EDA Agenda Item No. 4a • 0 • • • EDA COUNCIL ITEM MEMORANDUM DATE: May 5, 2009 TO: Curt Boganey, City Manager FROM: Gary Eitel, Director of Business and Development UIL SUBJECT: Resolution Authorizing the Acquisition of Property in Connection with the Remove and Rebuild Program (5836 Brooklyn Boulevard) COUNCIL ACTION REQUESTED: Motion to adopt; the Resolution Authorizing the Acquisition of Property in Connection with the Remove and Rebuild Program (5836 Brooklyn Boulevard). BACKGROUND: On January 12, 2009, the EDA adopted Resolution No. 2009-02 "A Resolution Establishing, Housing Programs and Anoroving the Use of Funds from Tax Increment District No. 3 Housing Account" which h-auuthorized the-Remove and-Rebuild Program. - - - REMOVE AND REBUILD PROGRAM: The program was created to remove blighted, distressed, -and unmarketable properties and to return theses,, properties to an enhanced and compatible use with the neighborhood and consistent with !zoning regulations and the City's Comprehensive Plan. Additionally, the program recognized that if an appropriate use for the land is not imminent, the property will be land banked until such time an appropriate use becomes available. Proposed Acquisition: The Hennepin County Tax Records identifies the property owner of 5836 Brooklyn Boulevard as Deutsche Bank National Tr. Co.Trs. and CITI Residential Lending, Inc. as the taxpayer. The 2009 property tax value is shown at $159,200. A review of the City records shows the following sales data: 2000 $115,000 1995 $ 69,900 The property has 75 of frontage on Brooklyn Boulevard and 145' of lot depth with a lot area of 11,025 sq.ft. The tax records indicate that the residence was built in 1950. The property is: presently zoned C-1, Service/Office District. . The Land Use acid Transportation Elements of the City's Comprehensive Plan and the Brooklyn Boulevard Corridor Streetscape Amenities Study have identified the benefits of replacing the single family homes on Brooklyn Boulevard with attractive non-residential land uses that promote public safety and protect adjoining residential neighborhoods. The property is a vacant and foreclosed building, the attached purchase agreement provides for the, sales of this property in the amount..of $55,000. The costs associated ,,.kith the acquisition fee and demolition are estimated at approximately $15,000. A special assessment search indicates that there are no levied or pending assessments on this property. At this time, the staff is recommending that the residence be removed and that the City work with Hennepin County on the closure of the driveway access onto Brooklyn Boulevard (Co.Rd.152). The interim land use of this property would be vacant/open space, pending further review and discussions with Hennepin County on updating the Brooklyn Boulevard Streetscape Study. BUDGET ISSUE5: • The acquisition and demolition costs for this property will be funded by the Housing Account from Tax Increment District No. 3. 0 Commissioner • moved its adoption: introduced the following resolution and EDA RESOLUTION NO. RESOLUTION AUTHORIZING THE ACQUISITION OF 5836 BROOKLYN BOULEVARD IN CONNECTION WITH THE REMOVE AND REBUILD PROGRAM' WHEREAS, on January 12, 2009, the Economic Development Authority in and for the City of Brooklyn Center, Minnesota (the "EDA") adopted Resolution No. 2009-02 establishing housing programs and approving the use of funds from the Tax Increment District No. 3 housing account; and WHEREAS, one of the housing programs so established was the EDA's Remove and Rebuild Program (the "Program") to acquire demolished, blighted, distressed, and unmarketable properties to be returned to uses compatible with the neighborhood; and WHEREAS, real property located at 5836 Brooklyn Boulevard, (the "Subject Property") is for sale; and WHEREAS, City staff and consultants have negotiated a purchase agreement for the purchase by the EDA of the Subject Property; and WHEREAS, the EDA has determined that acquisition of the Subject Property on the terms and conditions set forth in the proposed purchase agreement is consistent with the goals and objectives of the Program and is in the best interests of the City of Brooklyn Center and its citizens. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority in and for the City of Brooklyn Center, Minnesota, as follows: 1. The purchase agreement for the Subject Property is hereby approved. 2. The President and Secretary of the EDA are authorized and directed to execute the purchase agreement, and the Executive Director is authorized and directed to take all such further steps as are necessary to effect the terms thereof. Mav 11, 2009 Date President The motion for the adoption of the foregoing resolution was duly seconded by commissioner and upon vote being taken thereon, the following voted in favor thereof: • and the following voted against the same: whereupon said resolution was declared passed and adopted. • • • LOGISMap Output Page all ' j i COMWDORE OR ADMIRAL LN N 81ST AVE N ~ I ( ~1 JI II IJ GOTH AVE N <i i I 1 EJ w z 4 = w S I 1 I 1 , ~ I t N, 59TH AVE N I 1~ ~ ~ I i II 58 7f2 AVE M ~ ~ ~ ~ ~ ~ r 114' `4 LJ wl I aJ i 58TH AVEN ` x 1 m t 1 ra~ ADMIRAL LN N 4 4 57TH AVE N Northpwt Park ~ro~x,ats,c~,tc}wexsa~sa~as I ! ~I j w r- a z w 4 O~ I 4M Page 1 of l L L~ 1 y h w If t I 19A . http://gis.logis.orgln OGIS_ArcIMSlims?ServiceName=bc_LOGISMap_OV&ClientVersion... 5/4/2009 rr---- ~ ~Y ~r • • PURCHASE AGREEMENT This form approved by the Minnesoia Aswckkon d REALTORSt which disciaVns any itabift wWM out of use or misuse of this form. 02007 M maola Anoclatbn of AM-TORSO, Edina, MN 1. Date May 1, 2009 2. Pagel of 3. RECEIVED OF Greater Metropo]ztan Housamg CWPOretion 4. 5. the sum of Two Thousand and 00/100 Dollars 2,000.00 6. by ❑ CHECK CASH NOTE as earnest money to be deposited upon acceptance of Purchase Thack &W 7. Agreement by aff parties, on or before the third business-day after acceptance; in the trust account of listings-- - - 8. broker, unless otherwise agreed to in writing, but to be retumed to Buyer It Purchase Agreement is not accepted 9, by Seller. Said eamest money is part payment for the purchase of the property located at 10. Street,Addnw- 5836 Broalayn Boulevard. 11. C)ty of Brooklyn Center , County of Hennepin 12. State of Minnesota, legally described as 13. 14. 15. Including all fixtures on the following property, if any, owned by Seiler and used and located on said property, 16. Including but not limited to garden bulbs, plants, shrubs and trees, storm sash, storm doors, screens and awnings; 17, window shades, blinds, traverse and curtain and drapery rods; attached fighting fixtures and bulbs; plumbing 18.. fixtures, water heater, heating plants (with any burners, non-fuel tanks, stokers and other equipment used in connection 19. therevAth), btalt-In air-conditioning equipment, electronic air filter, water softener M OWNED O RENTED ® NONE, 20. built-in humidifier and dehumidifier, liquid fuel tank(s) ❑ OWNED ❑ RENTED ® NONE and controls (if the 21. properly of Seiler), sump pump; attached television antenna, cable TV Jacks and wiring; BUILT-INS: dishwashers, 22. garbage disposals, trash compactors, ovens, cook-top stoves, microwave ovens, hood fans, intercoms; 23. ATTACHED., carpeting; mirrors; garage door openers and all controls; smoke detectors; fireplace screens, doors and 24. heatilatong AND the following personal property- 25. 26. 27. all of which property Seiler has this day agreed to sell to Buyer for sum of 55 , 000.00 ) 28. Fifty Five Thousand and 00/100 f)oliars, 29. which buyer agrees to pay in the fallowing manner: 30. 1. Cash of at least 100 percent of the sale price, which Includes the earnest money; PLUS 31. 2. Financing, the total amount secured against this property to fund this purchase, not to exceed 32. percent of the "a price. 33. Such financing shall be (check one) a first mortgage; ❑ a contract for deed; or ❑ a first mortgage with 34. subordinate financing, as described in the attached Addendum: Dash 35. ❑ Conventional ❑ FHA E] OVA ❑ Assumption ❑ Contract for Deed ❑ Other 36. The date of closing shall be May 28 20 09 37. This Purchase Agreement ❑ IS IS NOT subject to a CondngencyAddendum for sale of Buyer's property. 38. (if answer Is 18, see attached Addendum.) 39. (If answer is IS NOT, the closing of Buyeft property, 9 any, may still affect Buyef's ability to obtain financing, if financing 40. Is applicable.) MN.-PA-1 (807) PURCHASE AGREEMENT . 41. Address 6836 Brooklyn Boulevard 42. Page 2 Date May 1, 2009 43. This Purchase Agreement ❑ IS JM IS NOT subject to cancellation of a previously written purchase. agreement 44. dated 45. (if answer is IS, said cancellation shall be obtained no later than 20 If 46. said cancellation Is not obtained by said date, this Purchase Agreement is canceled. Buyer and Seller shall immediately 47. sign a;Canceliallon of Purchase Agreement confirming said cancellation and directing aR earnest money paid 48. hereunder to be refunded to Buyer.) 49. Buyer has been made aware of the availability of property inspections. Buyer Elects ,~Z( Declines to have a ;awckor~ 50. property Inspection performed at Buyers expense. 51. This Purchase Agreement ❑ IS RrIS NOT subject to an Inspection CoMNrgency Addendum. • fCtreucma.}_.._ 52. (If answer is IS, see attached Addendum.) 53. DEED/MARKETABLE TITTLE: Upon performance by Buyer, Seller shall deliver a 54. ❑ Warranty Deed or ❑ Other: XWOM t.;,l;ted Deed joined in by spouse, if any, conveying 55. marketable I tle, subject to 56. (a) building and zoning laws, ordinances, and state and federal regulations; 57. (b) restrictions relating to use or Improvement of the property without effective forfeiture provisions; 58. (c) reservation of any mineral rights by the State of Minnsecta; - 59. (d) utility and drainage easements which do not interfere with existing improvements; 60. (e) rights of tenants as follows (unless specified, not subject to tenancies), 61. and 62. (f) others (must be specified in writing): 63. 64. 65. 66. • . 67 68. ❑ BUYER SHALL PAY SELLER SHALL PAY on date of closing any deferred real estate taxes (e.g., Green 69. Acres) or special assessments, payment of which Is required as a result of the dosing of this sale. 70. El BUYER AND SELLER SHALL PRORATE AS OF THE DATE OF CLOSING SELLER SHALL PAY ON ,Owe one. 71. DATE OF CLOSING all installments of special assessments certified for payment, with the real estate tames due and 72. payable in the year of closing. 73. ❑ BUYER SHALL ASSUME SELLER SHALL PAY on date of closing all other special assessments levied as 74. of the date of this Purchase Agreement. 75. ❑ BUYER SHALL ASSUMED SELLER SHALL PROVIDE FOR PAYMENT OF special assessments pending as 76. of the date of this Purchase Agreement for Improvements that have been ordered by any assessing authorities. (Seller's 77. provision for payment shall be by payment into escrow of taro (2) times the estimated amount of the assessments or 78. less, as required by Buyer's lender.) 79. Buyer shall pay any unpaid special assessments payable In the year following closing and thereafter, the payment of 80, which Is not otherwise herein provided. MNAA 2 (e" • • PURCHASE AGREEMENT St. Address 5835 Brooklyn Boulevard 82. Page 3 Date May 1, 2009 83. As of the date of this Purchase Agreement, Seiler represents that Seller ❑ HAS ZHAS.NOT received a notice 84. regarding any new improvement project from any assessing authorities, the costs of which project may be assessed 85. against the property. Any such notice received by Seller after the date of this Purchase Agreement and before dosing 86. shall be provided to Buyer immediately. If such notice Is Issued after the date of this Purchase Agreement and on 87. or before the date of dosing, then the parties may agree In writing, on or before the date of closing, to pay, provide 88. for the payment of or assume the special assessment. In the absence of such agreement, either party may declare - 89. - this Purchase Agreement canceledby written-notice to the other party, or licensee representing or assisting the other- 90. party, In which case this Purchase Agreement is canceled. If either party declares this Purchase Agreement canceled, 91. Buyer and Salter shall immediately sign a Cancaftfon of Purchase Agreement confirming said cancellation and 92. 'directing all earnest money paid hereunder to be refunded to Buyer. 93. Buyer shall pay9PRORATED FROM DAY OF CLOSING 12ths OF ❑ ALL ❑ NO real estate taxes due 94. and payable in the year 20 09 95. Seller shag pay'WPRORATED TO DAY OF CLOSING ❑ 12ths OF ❑ ALL ❑ NO reel estate taxes due and 'Cheat us F__ 96. payable in the year 20 09 if the dosing date Is changed, the real estate taxes paid shall, If prorated, be adjusted 97. to the new dosing date. Sellerwarrents taxes due and payable in the year20 09 shall beJVFULL-❑ PART❑ NOW 98. homestead dassificatlon. 99. If part-or non-homestead classification Is checked, Seller agrees to pay Buyer at dosing $ 100. toward the non-homestead real estate taxes. Buyer agrees to pay any remaining balance of non-homestead taxes 101. when they become due and payable. Buyer shall pay real estate taxes due and payable in the year following closing 102. and thereafter, the payment of which is not otherwise herein prattled. No representations are made concerning the ID3. amount of subsequent real estate taxes. 104. POSSESSION: Seller shall deliver possession of the property no later than date of closing after closing. 105. All interest; unit owners' association dues, netts, and charges for city water, city sewer, electricity and natural gas shall 106. be prorated between the parties as of date of dosing. Buyer shall pay Seller for remaining gallons of fuel oil or liquid 107. petroleum gas on the day of dosing, at the rate of the last fill by Seiler. Seller agrees to remove ALL DEBRIS AND 108. ALL PERSONAL PROPERTY NOT INCLUDED HEREIN from the property by possession date. 109. TITLE AND EXAMINATION: Within a reasonable time period after acceptance of this Purchase Agreement, Seger 110. shall provide one of the following title evidence options, at Seller's selection, which shall include proper searches 111. covering bankruptcies, state and federal judgments and Doris, and levied and pending special assessments to Buyer 112. or Buyer's designated title service provider: 113. (1)' A commitment for an owners policy of tide Insurance on a current ALTA form Issued by an Insurer licensed 114. to write title insurance In Minnesota as selected by Butyer. Seller shall be responsible for the title search and 115. exam costs related to the commitment. Buyer shah be responsible for all additional costs related to the issuance 116. of the fide Insurance pollcy(ies) Including but not limited to the premium(s), Buyers name search and plat 117. drawing, if any. Seller shall surrender a copy of any owners tide Insurance policy and Abstract of Title, if in 118. Sellers possession or control, for this property to Buyer or Buyers designated title service provider. 119. (2) An Abstract of Title certified to date D Abstract Property or a Registered Property Abstract'(RPA) certified to 120. date it Registered (Torrens) property. Seger shag pay for the abstracting or RPA costs and surrender any 121. abstract for this property in Sellers possession or control to Buyer or Buyses designated tide service provider. 122. If property Is Abstract and Seller sloes riot have an Abstract of Tide, Option (1) will automatically apply. 123. Seller shag use Sellers best efforts to provide marketable title by the date of dosing. In the event Seller has not 124. provided marketable the by the date of dosing, Seger shag have an additional 30 days to make tide marketable, or In 125. the alternative, Buyer may waive tide defects by written notice to Seller. In addition to the 30-day extension, Buyer 128. and Setter may, by mutual agreement, further extend the dosing date. Laddng such extension, either party may declare 127. this Purchase Agreement canceled by written notice to the other party, or licensee representing or assisting the other 128. party, in which case this Purchase Agreement is canceled. If either party declares this Purchase Agreement canceled, 129. Buyer and Seller shag immediately sign a Cancellation of Purchase Agreement confirming said cancellation and 130. dired ing all earnest money paid hereunder to be refunded to Buyer. MRPA-3 (81107) 0 PURCHASE AGREEMENT . 178. Address 5836 Brooklyn Botilevard 177. Page 5 Date May 1, 2009 178. ENVIRONMENTAL CONCERNS:To the best of Sellers knowledge, there are no hazardous substances or underground 179. storage tanks except herein noted: 180. 181. 182. 183. 184. 185. 186. 187. 188. 189. (Check appropriate boxes.) 190. SELLER WARRANTS THAT THE PROPERTY IS EITHER DIRECTLY OR INDIRECTLY CONNECTED TO: 191. CITY SEWEROYES ❑ NO / CITY WATERPYES ❑ NO _ 192. PRIVATE SEWER SYSTEM 193. SELLER CERTIFIES THAT SELLER ❑ DOES DOES NOT KNOW OF A PRIVATE SEWER SYSTEM ON OR onaj 194. SERVING THE PROPERTY (If answer is DOES, see Private Seiner System Disclosure Statement.) 195. P RI E WELL - 198. SELLER CERTIFIES THAT SELLER ❑ DOE ( DOES NOT KNOW OF A WELL ON OR SERVING,-THF-- 197. PROPERTY. (If answer is DOES and well Is located on the property, see We#Disclosure Statement) 198. THIS PURCHASE AGREEMENT Q IS 5dIS NOT SUBJECT TO A PRIVATE SEWER AND WELL INSPECTION • 199. CONTINGENCY ADDENDUM. (If answer is IS, see attached Addendum.) 200. IF A WELL OR PRIVATE SEWER SYSTEM EXISTS ON THE PROPERTY, BUYER HAS RECEIVED A WELL 201. DISCLOSURE STATEMENT ANDIOR A PRIVATE SEWER SYSTEM DISCLOSURE STATEMENT. 202. NOTICE 203. Tom Gervais Is Q Sellers Agent ❑ Buyer's Agent Pgbual Agent ❑ Facilitator. (Lkanaw) 'fir 204 Moyer Investment (Real Estate Company Name) 205. Tom Gervazs Is ❑ Sellers Agent Q Buyers Agent Dual Agent ❑ Facilitator. (tk~naee) --(C~k 206. Foyer Investment (Real Emit Company Na") 207. THIS NOTICE DOES NOT SATISFY MINNESOTA STATUTORY AGENCY DISCLOSURE REQUIREMENTS. MN M07) 0 PURCHASE AGREEMENT • 208. Address 5836 Brood Boulevard 209. Page 6 Date May 1, 2009 210. SELLER WARRANTSTHAT CENTRAL AIR-CONDITIONING, HEATING, PLUMBING AND WIRING SYSTEMS USED 211. AND LOCATED ON SAID PROPERTY SHALL BE IN WORKING ORDER ON DATE OF CLOSING, EXCEPT AS 212. NOTED IN THIS PURCHASE AGREEMENT. 213. BUYER HAS THE RIGHT TO A WALK-THROUGH REVIEW OF THE PROPERTY PRIOR TO CLOSING TO 214. ESTABLISH THAT THE PROPERTY IS IN SUBSTANTIALLY THE SAME CONDITION AS OF THE DATE OF 215. THIS PURCHASE AGREEMENT. 216. BUYER ❑ HAS ❑ HAS NOT RECEIVED A SELLERS PROPERTY DISCLOSURE STATEMENT OR A lClreclcona}-• 217. SELLERS DISCLOSURE ALTERNATIVES FORM. 219-iQt Y BUYER IMMEDIATELY IN WRITING OF ANY SUBSTANTIVE CHA~FFROM IOR 220. REPRESS NYA7 NS REGARDING THE PROPERTY. 221. IN THE EVENT A SELLE OSUREAL7ERNATIVES FORM IS USED ARD 222. L INES 223 THROUGH 228. 223. BUYER ACKNOWLEDGES THAT NO ORAL REP ONS HAVE BEEN MADE REGARDING POSSIBLE 224. PROBLEMS OF WATER IN BASEMENT GE CAUS TER ICE OR ICE BUILDUP ON ROOF OF 225. THE PROPERTY, AND BUY ES SOLELY IN THAT REGARD OiV FOLLOWING STATEMENT BY 226. SELLER. 227. SELLER HAS NOT HAD A WET BASEMENT AND [:1 HAS El HAS NOT HAD WALL OR one _ ¢ hed ons J 229. DUAL AGENCY REPRESENTATION 230. PLEASE CHECK DNEOF THE FOLLOWING SELECTIONS: -231. []Dual Agency repressentaii`on DOES I1107'a-" In thls'freitsactiori:M-gerd lines 232=248: 232. Puai Agency representation DOES apply in this transaction. Complete the dtsolosure in Imes 233-248. 233. Broker represents both the Seller(s) and the Buyer(s) of the property Involved In this transaction, which creates a 234. dual agency.This means that Broker and its salespersons owe fiduciary duties to both Seller(s) and Buyer(s). Because 235. the parties may have oonf(icting Interests, Broker and its salespersons are prohibited from advocating exclusWely for 236. either parry. Broker cannot act as a dual agent in this transaction without the consent of both Seller(s) and Buyer(s). 237. Seller(s) and Buyer(s) acknowledge that 238. (1) confidential information communidated to Broker which regards price, terms, or motivation to buy or sell will 239. remain confidential unless Seller(s) or Buyer(s) Instructs Broker In writing to disclose this information. Other 240. Information will be shared; 241. (2) Broker and its salespersons will not represent the interest of either party to the detriment of the other; and 242. (3) within the limits of dual agency, Broker and its salespersons will work diligently to facilitate the mechanics of 243. the sale. 244. With the knowledge and understanding of the explanation above, Setter( nd Buyer(s) authorize and Instruct Broker 245. and its salesperson to act as dual agents In this transaction. 246. Sailer Buyer Carolyn E. Olson, President 247. Seller Buyer Greater Metrooolitan Housina Corporation 248. Date Date 5/5%09 MNAA-ti (8!07) 0 • PURCHASE AGREEMENT 249. Address 5836 Brooklyn Boulevard 260. Page 7 DatA May 1, 2009 251, OTHER- 252- 253. 254. _ -26& Other addenda maybe attached which are made apart of this Purchase Agreement. (Enter total number of. pages-of. 256. this Purchase Agreement, Including addenda, on fine two (2) of page one (1).) 257. I, the owner of the property, accept this Purchase I agree to purchase the property for the price and on 258. Agreement and authorize the listing broker to withdraw the terms and conditions set forth above 259. said property from the market, unless instructed I have reviewed all pages of this Purchase 260. otherwise In writing. Agreement. 261. 1 have reviewed all pages of this Purchase Agreement 282. ❑ If checked, this Purchase Agreement Is subject to 263, attached Counteroffer Addendum. 264. X X !l© 5/09 (Sedef Bomb* tea ~e •)Car6lyn E. son, PresiddW Greater Metropolitan Housing Corporation • 265. X X (Sallafe~. POW Fame) Mupfa Mntad NUM) 266. X X Oh Mr BMW) (Mat" Sher) 267. X ' X (SeAefs;Signature) (DOW ffim tcSWWWW) (Dare) 268. X X (SeAafk'PduMd Name) "es PdMW Name) 269. X X (rear" BMWs) (Met" SM 270. FINAL ACCEPTANCE DATF 271. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). 272. IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. 273. 1 ACKNOWLEDGETHAT 1 HAVE RECEIVED AND HAVE HADTHE OPPORTUNITYTO REVIEWTHE ARSITRATION 274. DISCLOSURE AND RESIDENTIAL REAL PROPERTY AR9ITRATION AGREEMENT, WHICH IS AN OPTIONAL, 275. VOLUNTARY AGREEMENT AND IS NOT PART OF THIS PURCHASE AGREEMENT. 276. SELLER(S,1 BUYER(S) Carolyn E. Olson, President Greater Metropolitan Housing 277. SELLER(S) BUYER(S) C rWWatinn MN.nk-7 (W) 0 SELLER'S DISCLOSURE ALTERNATIVES This form approved by the Annesota Association d REALTORS. wWh disclaims any ilability arising out of tme or edam of this form. • ® 2007 Minnesota Association of REALTORS% Editor, MN 1. Date tfaq 1, 2009 2. Page 1 of pages 3. Property located at 5836 Brooklyn Boulevard 1 4. City of Brooklyn OP-nte" County of Hennepin State of Minnesota. 5. NOTICE 6. Sellers of residential property, with limited exceptorw, are obligated to satisfy the requirements of MN Statutes 513.52 7. through, 513.60. To comply with the statute, Seller must provide either a written disclosure to the prospective Buyer (bee "lees ProicadyD/scfosure Stafemeno crsatisfy one-of the following two options: 9. (Select am option only.) 10. 1) OUAILIFIEDTHIRD-PARTY INSPECTION: Seger shall provide to prospective Buyer a written report that discloses 11. material information relating to the real property that has been prepared by a qualified third party. 'Qualified third 12. party' means a federal, state or local governmental agency, or any person whom Seller or prospective Buyer 13. reasonably believes has the expertise necessary to meet the industry standards of practice for the type of inspection 14. or investigation that has been conducted by the third party in order to prepare the written report. 15. Seller shalt disclose to prospective Buyer material facts known by Seller that contradict any information 16. that is Included In a written report, or material facts known by Seller that are not included in the report. 17. ❑ Buyer acknowledges receipt of an Inspection report prepared by 18. 19. and dated , 20 20. ❑ 'Seger discloses to Buyer the following material facts known by Seller that contradict any information included 21. In the above referenced Inspection report. 22. 23. 24. 25. 28. 27. 28. • ❑ Seller discloses to Buyer the following material facts known by seller that are not Included in the above 29. referenced Inspection report. 30. 31. 32. 33. 34. 35. 36. 2) WAIVER: The written disclosure required may be waived if Seger and prospective Buyer agree in writing. Seller 37. and Buyer hereby waive the written disclosure required under MN Statutes 513.52 through 513.60. 38. Waiver of the disclosure required under MIN Stabiles 513.52 through 513.60 does not waive, Iimit or 39. abridge any obligation for Seller disclosure created by any other law. 40. ORIGINAL COPY TO LISTING BROKER; COPIESTO SELLER, BUYER, SELLING BROKER.. MN:sDA-1 (M7) 0 . SELLER'S DISCLOSURE ALTERNATIVES 41. Paget 42. Property located at 5836 Brooklyn Boulevard 43. OTHER REQUIRED DISCLOSURES: 44. NOTE:There may be other required disclosures by other governmental entities that are not listed below. 45. A. PRIVATE SEWER SYSTEM DISCLOSURE: (A private sewer system disclosure is required by MN Statute 115.55.) 46. (Check appropriate box.) 47. Seller does not know of a private sewer system on or serving the above-described real property. w -48: ❑ Thers°Isa private sewer system sn er seaving4He abt~ve-descrk r property _ , 49. (See Private Sewer System Disclosure Statement) 50. ❑ There Is an abandoned private sewer system on the aware-described real property. 51. (See Private Sewer System Disclosure Statement) $3. 54. 55. 56. 57. 58. 59. 60. 61. 62. 63. 64. • 65. 86. 67. 68. 69. 70. 71. 52. B. PRIVATE WELL DISCLOSURE: (A well disclosure and Certificate are required by MN Statute 1031.235.) (Check appropriate box.) PQ'„ Seller certifies that Soler does not know of any webs on the above-described real property. ❑ Seller certifies there are one or more webs located on the above-described real property. (See We# Disclosure Statement.) Are there any wails serving the above-desodbed property that are not located on the property? ❑Yes ~No Contaminated Web: Is there a well on or serving the property that contains contaminated water? ❑ Yes " No To your knowledge, is the property In a Special Well Construction Area? ❑Yes No Comment, C. VALUATION EXCLUSION DISCLOSURE: (Required by MN Statute 273.11, Subd.16) Tharey❑ IS MIS NOT an emluslon from market value for home improvements on this property. Any valuation Bone-I---- exclusion shall terminate upon sale of the property, and the property's estimated market value for property tax purposes shall Increase. If a valuation exclusion exists, Buyers are encouraged to look Into the resulting tax consequences. Additional comments- 72. D. METHAMPHETAMINE PRODUCTION DISCLOSURE: 73. (A methamphetamine production disclosure Is required by MN Statute 152.0275, Subd. 2 (m).) 74. Z Seller Is not aware of any methamphetamine production that has occurred on the property. 75. Seller is aware that methamphetamine production has occurred on the Property. 76. (See Methamphetamine Productlar Dbalbsure Statement.) 77. E. NOTICE REGARDING AIRPORT ZONING REGULATIONS: The property may be In or near an airport safety zone 78, with zoning regulations adopted by the governing body that may affect the property. Such zoning regulations are 79, filed with the county recorder in each county where We zoned area Is located. If you would like to determine If such 80. zoning regulations affect the property, you should contact the county recorder where the zoned area is located. 81. ORIGINAL COPY TO LISTING BROKER; COPES TO SELLER, BUYER, SELLING BROKER. MMSDA-2 (8 07) is • • SELLER'S DISCLOSURE ALTERNATIVES 82. Page 3 83. Property located at 5836 Brooklyn Boulevard 84. F. min ON" Buyer has had the opportunity to review page four (4) of this Agreement: 85. G. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory 86. offender registry and persons registered with the predatory offender registry under MN Statute 243.166 87. may be obtained by contacting the local law enforcement offices In the community where the property Is 88. located or the Minnesota Department of Corrections at (651) 361-720% or from the Department of Corrections 89. web site at www.cornstale.mn.us. 90. H. SELLER'S STATEMENT: 91. (To be signed at time of pstfng.) 92. Seller(s) hereby authorizes any licensee(s) representing or assisting any party(ies) In this transaction to provide 93. a copy of this Disclosure to any person or entity In connection with any actual or anticipated sale of the property. 94. (Sere4 (mi) (SdO (Date) 95. 1. BUYER'S ACKNOWLEDGEMENT: 96., (ro be signed at time of purchase agreement.) 97. I/Ws, the Buyer(s) of the property, aclawMedge receipt of this SELLER'S DISCLOSURE ALTERNATIVES form 98. and, agree to the seller's disclosure option selected In this form. I/We further agree that no representations regarding 99. material facts have been made, other than those made In this form. 100. 5/5/09 ceuy0o Carolyn E. Olson, PresidenfawareatefsuM tropolitan Housing Corporation Pme) 101. J. ADDITIONAL DISCLOSURFQ- 102. 103. 104. 105. 106. 107. K. SELLER'S ACKNOWLEDGEMENT: 108. (To be signed at time of par bass agreement.) 109. AS OF THE DATE BELOW, I/we, the Seller(s) of the property, state that the material facts are the same, except 110. for changes as Indicated below, which have been signed and dated. 111. 112. 113. 114. 116. (6eHeF) (Dam) (senery (Date) 117. ORIGINAL COPY TO LISTING 11ROKER; COPIES TO SELLER, BUYER, SELLING BROKER. MRSDA-3 (tvDi ) • BUYER PURCHASING "AS IS" ADDENDUM • TMs farm approved bythe Mlnneecta Amodatim d REALTORS', which dkdW= any bbfllty addng out of use or n6m d ante I* m. O 2WS M moon Acsoda&" of REALTORS! Edna, MN 1. Date May 1, 2009 2. Page 3. Addendum to Purchase Agreement between parties, dated may 1 , 20 09 , pertaining 4. to the purchase and sale of the property as 5835 Brooklyn Boule-v and 5. Brooklyn Center, MN 6. DISCLOSURE REQUIRED: Under Mimesota law, Sellers d residential property, except by waiver or with limited 7. exceptions, are obligated to disclose to prospective Buyers of material facts of which Soper is aware that could adversely 8. and significantly affec an ordinary Buyer's use or enjoyment of the property or any Intended use of the property of 9. which Seller Is aware. Such a disclosure is not a warranty or a guarantee of any kind by Seger or licensee representing 10. or assisting any party In the transaction. Seger agrees to notify Buyer Immediately In writing of any substantive changes 11. from any prior representations regarding the property. 12. (CJheckWp opriafe box.) 13. ❑ Bayer has received and had an opportunity to review the Seller's Property Dkofostwe Statement; 14. or 15. ® Buyer has received and had an opportunity to review the Seller's Discbeure Altemaf es form. 16. CONDITION OF PROPERTY: The property being purchased by Buyer, Including the dwelling, other improvements 17. and fixtures, is not new and Is being purchased "AS IS". 18. Buyer understands that the property, as defined above, will be purchased In the condition it is in at the time of Purchase 19. Agreement. Buyer shall have the right to a walk-through review of the property prior to closing. To the extent there 20. Is al material change in the condition of the property arising between the date of the Purchase Agreement and the 21. dosing date, Seger shag be responsible for restoring the property to substantially the same condition it was In on the 22. date of the Purchase Agreement, swept that Seger shag have NO OBLIGATION OR RESPONSIBILITY to repair or 23. ropiace-central air-oonditioning, heating, plumbing (Including Individual sewage treatment systems, unless otherwise 24. required by law), wiring systems or wells on the property 9 they fag between the date of Purchase Agreement and the 25. date of dosing. This provision voids Imes 210-212 of the Purchase Agreement 28. RISK OF LOSS: The Risk of Lose provision In the Purchase Agreement is modified as follows. N there is any loss 27. or damage to the property between the date of Purchase Agreement and the date of dosing for any reason, Including fire, • 28. vandalism, flood, earthquake or act of God, the risk of loss shall be on Sailer except that Seller shall have NO 29. OBLIGATION OR RESPONSIBILITY to repair or replace central air-conc[Moning, heating, plumbing (Including kxWual 30. sawagetreatment systems,unless otherwise requliedbylaw),WringSystems orwells antheproperty ifthey fail between 31. the date of Purchase Agreement and the data of dosing. If the property is destroyed or substantially damaged before 32. the closing date, tds Purchase Agreement is canceled, at Buyer's option, by written notice to Seger or licensee 33. repmaentng or assisting Seller. If Buyer cancels this Purchase Agreement, Buyer and Seller shag Immediately sign 34. a Cancel/aflon of Pwahase Agreement conflnrft sold cancellation and directing all earnest money paid hereunder 35. to be refunded to Buyer. 36. RIGHT OF INSPECTION: Buyer shag have the right to Inspect the property or to have it inspected by a person of 37., Buyers choice, at Buyer's expense. 38. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). 39. IFYOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL MN:BPAIA•1 (erns) 0 BUYER PURCHASING "AS IS" ADDENDUM 40. Page 41. Property located e+ 5835 Brooklyn Boulevard 42. SETTLEMENTS FINAL: it is understood that Buyer accepts the property AS IS"ANY WARRANTIES OF PHYSICAL 43. CONDITION OFTHE PROPERTY CONTAI M INTHIS PURCHASE AGREEMENT INCLUDING, BUT NOT LIMITED 44. TO, CENTRAL AIR-CONDITIONING, HEATING, PLUMBING, WIRING, AND CONNECTION TO CITY SEWER AND 45. CITY WATER ARE VOID. This provision shed survive delivery of the deed or contract for deed. All other warranties 46. specified in the Purchase Agreement remain the same. 47. OTHER: 48. 49. 50. 51. 52. 53. 54. 55. ss. 57. i 58 . 59. 80. 1 6 . (San) Pdo tit Carolyn E. Olson, President m Greater Metropolitan Housing Corporation 62. (sew 9WA Mwo Paw 63 THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). 64. IFYOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. MNSPAIA-Z(" • • Disclosure of information on Lead-Based Paint and/or Lead-Based Paint Hazards Lead Morning Statement Every pgrt:hoserof any Interest In resideriM real property on which a residential dweffng was built prior to 1-978 is noli led #hatsuch pmperiymaypresentexposmeto lead from ka&bosed paint thatmaypiace young drlidren at risk of developing lead poisoning. Lead poisoning In young dnAdrem may produce permanent neurological damage including leaning disab9ft reduced br(d9gence quotient behavidmi problems and knpalred memory. Lead paboning also pores a partkular risk to pregnant warren The seller of any interest In residenBat real property Is required to provide the buyer Wi anylrrforrnation on lead-based paint hamrds from risk assessments orinspectlons to theseUeKs p on and rgtfythebu yerofanyimown kW basedpainiham►rs A rlskassessnent orkWectton for possible lead-based paktt hazards ismwmr waled prior to purchase Sellers blsctosure (a) Presence of lead-based paint and/or lead-based paint hazards (check (I) or (101, below): (Q Known lead-based paint and/or lead-based paint hazards are present In the housing (explain). 00 K Seiler has no knowledge of lead-based paint anWor lead-based paint hazards in the housing. (b) Records and reports available to the seller (check (Q or OQ below): Seiler has provided the purchaser with all available records and reports pertaining to lead- based paint and/or lead-based paint hazards in the housing (list documents below). (iQ Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards In the housing. purchasers Acknowledgment (initial} (c) Purchaser has received copies of all information listed above- -(d) Purchaser-has tecelvedfhe pamphlet ROW IburJmntlyfromLeadin YourNome: - (e) purchaser has (check (Q or (iQ below): 0) r+ecelved a 10-day opportunity (or mutually agreed upon period) to conduct a risk assess- ment or inspection for the presence of lead-based paint and/or lead-based paint hazards; or OQ 'X waived the opportunity to conduct a risk assessment or inspection fix the presence of lead-based paint and/or lead-based paint hazards. Agents owledgment (initdaQ (f) Agent has Informed the seller of the sellers obligations under 42 U.S.C 4852(d) and is aware of his/her responsibility to ensure compliance. Certification of Accuracy The following parties have reviewed the Information above and certify, to the best of their knowledge, that the infotmatipn they have provided Is true and accurate. Seller Date Seller Date Date r e /e;~i -rug t' P~le tS :tea Agent - Date Agent - Date • ARBITRATION DISCLOSURE AND RESIDENTIAL RE AL PROPERTY ARBITRATION AGREEMENT W=TO maces n aria{ outot~wea REXO eofthis fain. ARBITRATION DISCLOSURE • • You have{ the right to choose whether to have any disputes about the physical condition of the property that you are buying or saWng ~cid ad by binding arbitration or by a court of law. By agreeing to binding arbitration you give up your right to go to CDU1l. signing the RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT ("ARBITRATION AGREEMENT") tow, you agree to binding arbtiratton us%lerthe Residential Real Property Arbitration System ("Arbitration System') adman red by the Amedtr ArbiUatias Association (AAA) and endorsed by the Minnesota Association of RI:AI.TORS® The ARBiTRAT10N AGREEMENT is sntortreatrle array if it Is signed by all buyers, sellers, listing and selArrg brokerslagdtlrts The ARBITRA710N AGREEMENT k not pall of the purohan agreement. Your purchase agreement wUl sit be valid Svlhether or rsot you sign the ARBRRATION AGREEMENT. The Arbion System is a private dispute resolution system offered as an alternative to the court system. It is not govemrrsert red. The AAA and the MAR jotthty adapt the nd" that govem the Arbitration System. The AAA and the MAR are not Under the ARBITRATION AGREEMENT you must use the arbitration services of the AAA. Ail disputes about or relating to titre physical condition of the property are subject to arbitration under the ARBITRATION AGREEMENT. Tills Includes claims of fraud, misrepreserdetion, warranty and negligence. Nothing in this Agreement limits other rights you may have under Minnesota Statutes 327A (statutory new home warranties) or under private contracts for warranty coverage,. An agreement to aft-,rata does not prevent a party from contacting the Minnesota Department of Commerce, the stake agency that regulates the real estate profession, about licensee compliance with state law. The admirtlctratve fee forthe Arbitration System varies depending on the amount of the claim, but it IS more than Initial court tiling fees. Try some cases, conciliation court is cheaperthan aftration. The maximum claim allowed In conciliation court is $7,500. This amount is subject to future change. In some cases, it Is quicker and less expensive to arbitrate disputes than to go to court, but thOllme to file your claim and pre-hearing discovery rights are limited. The right to appeal an arbitrators award is very limited corhlpared to the right to appeal a court decision. A requestlfor arbitration mrust be filed within 1s months of the date of the closing on the property or else the claim cannot be ndursued. A party **Wants to arbitrate a dispute files a Demand, along with the appropriate administrative fee, with the AAA. The AAA notifies a other party, who may file a response. The AAA works with the parties to select and appoint an arbitrator to hear and decide ih$ die". A three-arbhraMr parsec wits be appoGKed instead of a single arbitrator at the request of any party. The Party Mquesti a pane! must pay an additional fee. Arbitrators have backgrounds in law, real estate,_ architecture, w4neert W n or other related fields- - - Aybitnrdorl~hearings are usually held at the home site. Parties are notified about the hearing at least 14 days in advance. A pW 0ay be represented by a lawyer at the hearing if he or she gives 5 days advance notice to the other party and to the AAA Each party may present evidence, including documents or testimony by witnesses. The arbitrator must make arty within the ems ward must be in writing and may-require any remedy the arbitrator considers just and equitable that is scope oil the parties' agreement. The arbitrator does not have to make findings of fact that explain the reason for granting or deny{ an award. The arbitrator may require the party who does not prevall to pay the administrative fee. This Arb~ratIon Disclosure provides only a general description of the Arbitration System and a general overview of the ApAtration System rules. if you have any questions about arbitration, call the AAA at (612) 332-6545 or consult a lawyer. 1poples of the Arbitration System rites are available from the AAA or your REALTORS. THIS its AN opnitiNAL, VOLUNTARY AGREEMENT. READ THE ARBITRATION DISCLOSURE ABOVE IN FULL BEFORE SIGNING. RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT For the property lq ated at: 5836 Brooklyn Boulevard city of Brooklvn Ceritw county of riernlepan State of Minnesota. Any dispute bs o n the undersigned parties, or arty of them, about or relating to the physical condition of the property covered by the purchase re ement dated Including claims of fraud, misrepresentation, warranty and negligence, shall be settled by bt g arbitration. The American Arbitration Association shall be the arbitration service provider. The rules. then In effect, adopted 9 the American Arbitration Association and the Minnesota Association of REALTORSO shall govern the proceeding(s). TWO agreemenrt Matl survive the delivery of the deed or contract for dead in the purchase agreement. This agreement Is ordy+brhforceable if all parties to the purchase agreement and Ixokerslagents have agreed to arbitrate as acknowledged by rhatures below, • r n • (Sehers S~nahinj (Date) (Buyer's Signature) (Date) (Sellers Printed Name) N (Buyers Printed (Senees Signature) (pate) (Buyers Signatu) (Date) (Sellers Printed *me) (Buyers Printed Name) , (Listing Broker/Ageno (Date) (Seim Broker/Agent) (Date) (Company Name) (Company Name) RESIDWITIAL MMADRAA (81971 WVERS, SELLLERSn~ND i Aa KM DESIRE LEG ADVtcE CONSULT CONTRACT LAw~r IM _ . GREATER METROPOLITAN HOUSING CORPORATION 41895 VENDOR NO: MEYER NAME: MEYER INVESTMENT, INC. CHECK DATE: 5f5/2009 REFERENCE NUMBER INVOICE DATE GROSS AMOUNT DISCOUNT TAKEN NET AMOUNT PAID 5836 BROOKLYN BLVC 5WO09 2,000.00 0.00 2,000.00 70TAL, 2,000.00 0.00 2,000.00 ks- + Y y+ y'.. Y'•` t-i.,JiL:"" F J.v1. -Ej GREIA`E NIlIE ROPOLITAN 172,9'10 ff0,i351NG. CORPORA TI0N :1515,ES6T"ft 5TH STREET, STL: T10 "1JIINNE4Pe)(.15, MN 55402-1058 - 51512009 . 00 :v' PAS TvvoA66 hd an({ 00m' " TO. MEYER, fI~11~'ThIfEm aNC "r OF I~'~4 r p'9. ~`L1'.'~3,~,,$ '~~I~.: L Ob.CIQ ~'~at : . , ow; Commercial Real Estate BC-MN-H03A 800 Nicollet Mail, 3rd Floor Minneapolis, MN 65402 May 8, 2008 - To Whom It May Concern: • 0 Re: Greater Metropolitan Housing Corporation U.S. Bank National Association ("U.S. Bank") has had a long-standing relationship with the Greater Metropolitan Housing Corporation ("GMHC") dating back to Its inception over thirty-seven years ago. We have also had a direct lending relationship with them for the past fourteen years. We have always found GMHC to handle their financial affairs_ in an exemplary manner., Presently, it would be our opinion that GMHC has sufficient financial capacity to either purchase or build the single-family homes they are now contemplating. GMHC currently has a $10 million line of credit with U.S. Bank for the purposes of constructing new or renovating existing single-family homes in the Twin Cities metropolitan area. Concluding, U.S. Bank holds in high esteem the good works and efforts GMHC brings to the community towards affordable housing and highly values its relationship with this outstanding organization. Sincerely, Michael J. Kuklelka Vice President Hennepin County Oblique Aerials Hennepin County Oblique Aerials 0 [1 Images courtesy of: Microsoft® Virtual EarthTM 2009 10 140 Page 1 of 1 Show / Hide Man Control EQ © AND © 2009 Pict0 &---fo http://gis.co.hennepin.mn.us/HCPropertyMap/Birdseye.aspx?PID=0311821130041 5/4/2009