HomeMy WebLinkAbout1992-039 EDAR1
1
Commissioner Philip Cohen introduced the following resolution and
moved its adoption:
November 9, 1992
Date
EDA RESOLUTION NO. 92 -39
RESOLUTION APPROVING DEVELOPMENT AGREEMENT WITH EVERGREEN
DEVELOPMENT GROUP
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Brooklyn Center "HRA is the owner of certain real property in the City of
Brooklyn Center legally described as Tract B, registered land survey 1603,
Hennepin County, Minnesota (the "Development Property and
WHEREAS, the Economic Development Authority in and for the City of
Brooklyn Center "EDA has undertaken a program to promote the development of
housing within the City pursuant to Minnesota Statutes, Sections 469.090 to 469.108,
and in connection therewith is engaged in carrying out a housing development
project (the "Project in an area (the "Project Area in the City; and
WHEREAS, there has been prepared and approved by the EDA and the City
Council a plan for the Project; and
WHEREAS, in connection with the Project, the EDA and City have created a
tax increment district within the Project Area pursuant to Minnesota Statutes,
Sections 469.174 to 469.179; and
WHEREAS, Evergreen Development Group, a North Dakota partnership (the
"Developer has offered to purchase the Development Property and construct
thereon 90 units of multi- family housing to be rented to elderly persons, all pursuant
to a proposed Development Agreement by and between the Developer, the City, the
EDA and the HRA (the "Development Agreement and
WHEREAS, the EDA has reviewed the Development Agreement and determined
that the sale of the Development Property and the development thereof in accordance
with the Development Agreement is in the best interests of the City and its citizens;
NOW, THEREFORE, BE IT RESOLVED that the Economic Development
Authority hereby approves the Development Agreement and authorizes and directs
that the President and Secretary execute the Development Agreement and take such
other and additional steps as may be necessary to carry out the terms thereof
Todd Paulson, President
The motion for the adoption of the foregoing resolution was duly
seconded by Commissioner Dave Rosene and upon vote
being taken thereon, the following voted in favor thereof:
Todd Paulson, Celia Scott, Jerry Pedlar, Dave Rosene, and Philip Cohen;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.