HomeMy WebLinkAbout2007-002 EDAR1
Commissioner Kay Lasman introduced the following resolution
and moved its adoption:
EDA RESOLUTION NO. 2007 -02
RESOLUTION AUTHORIZING THE ACQUISITION OF REAL PROPERTY
FOR REDEVELOPMENT WITHIN TAX INCREMENT DISTRICT NO. 3
WHEREAS, the Brooklyn Center Economic Development Authority "EDA a body
corporate and politic organized and existing under the laws of the State of Minnesota, is authorized
to engage in development and redevelopment activities pursuant to Minn. Stat. 469.090 to
469.018 and related statutes; and
WHEREAS, there has been duly adopted and is now in legal effect a Modified
Redevelopment Plan for Housing Development and Redevelopment Project No. 1, which was
initially adopted by the Brooklyn Center Housing and Redevelopment Authority and the Brooklyn
Center City Council on July 22, 1985, which initial plan has been subsequently modified and
amended by various resolutions; and
WHEREAS, the EDA has become concerned about the present status of property located at
1501 Freeway Boulevard, which property includes the former Days Inn Hotel (the "Site and
WHEREAS, it is the intent of the EDA to assure a continued use of the Site that will
continue or increase its current value and prevent any deterioration or blighting influence the Site
may have on surrounding properties; and
WHEREAS, the owner of the Site has executed a purchase agreement for the Site in favor
of the Brooklyn Center EDA in the amount of $3,900,000, the terms of which the EDA has
determined to be fair and reasonable; and
NOW THEREFORE, BE IT RESOLVED, by the Economic Development Authority in and
for the City of Brooklyn Center that the acquisition of the Site is hereby authorized.
BE IT FURTHER RESOLVED that the Executive Director of the EDA is authorized to
execute a purchase agreement with the owner of the Site in the amount of $3,900,000 with such
technical changes to the agreement as may be recommended by the City's Attorney.
January 22, 2007
1
Date President
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Dan Ryan
and upon vote being taken thereon, the followin voted in favor thereof:
Tim Willson, Kay Lasman, Dan Ryan, anti Mark Yelich;
and the following voted against the same: Mary 0' Connor
whereupon said resolution was declared duly passed and adopted.