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HomeMy WebLinkAbout1994 07-11 EDAP Regular Session EDA AGENDA 18 CITY OF BROOKLYN CENTER JULY 11, 1994 (following adjournment of City Council meeting) 1. Call to Order 2. Roll Call 3. Approval of Agenda and Consent Agenda -All items listed with an asterisk are considered to be routine by the Economic Development Authority 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 in its normal sequence on the agenda. 4. Approval of Minutes: * a. June 27, 1994 - Regular Session 5. Public Hearing: 7 :00 p.m. a. Regarding Sale of EDA Owned Property at 6601 Bryant Avenue North, Brooklyn Center, Minnesota 6. Resolution: a. Directing the Negotiation of a Purchase Agreement for 7000 Brooklyn Boulevard 7. Adjournment Council Meeting Date July 11,1994 City of Brooklyn Center Agenda Item Number Request For Council Consideration • Item Description: EDA MINUTES - JUNE 2, 1994 - REGULAR SESSION Department Approv . Brad Hof , Director of Community Development Manager's Review/Recommendation: No comments to supplement this report Comments below /attached Summary Explanation: (supplemental sheets attached Recommended City Council Action: MINUTES OF THE PROCEEDINGS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE C I TY OF BROOKLYN CENTER TN THE COUNTY OF HENNEPIN AND THE STATE OF MINNESOTA REGULAR SESSION JUNE 27, 1994 CITY HALL CAL TO ORDE The Brooklyn Center Economic Development Authority (EDA) met in regular session and was called to order by President Todd Paulson at 11 p.m. LL CA AL L President Todd Paulsen, Commissioners Celia Scott, Dave Rosene, Barb Kalligher, and Kristen Mann. Also present were City Managcr Gerald Splinter, Director of Community Development Brad Hoffman, Community Development Specialist Tom Bublitz„ Building Inspector Dave Fisher, Director of Public Services Diane Spector, City Attorney Charlie LeFevere, and Council Secretary Barbara Collman. APPROVAL OF AGENDA AND CONSENT AGEND,� President Paulson inquired if any Commissioner requested any items be removed from the consent agenda. Item 6a was removed from th.e consent agenda. APPROVAL OF MINUTES JUNE 13, 1994 - REGULAR SESSION There was a motion by Commissioner Scott and seconded by Commissioner Kalligher to approve the minutes of the June 13, 1994, EDA meeting as printed. The motion passed unanimously. EDA HOME REHABILITATION DEFERRED LOAN PROGRAM The Community Development Specialist explained the recommendations wade by the Housing Commission in regard to the Deferred Loan Program. President Paulson commented he liked the exterior maintenance standard proposal. There was a discussion concerning the residency requirement. 6/27/94 - I - Commissioner Scott showed concern a resident of one and one -half years had reached the top of the list. The Community Development Specialist said it is a waiting liar and it is first come, first served based on when the application is received. Commissioner Scott noted it had been said previously it takes two years to get to the top of the list so this particular situation appears to be different yet there is not an urgent health or safety issue. The Community Development Specialist said the list is determined by the date on the application. He added when he had said two years he was only estimating. Commissioner Mann asked whether eligibility is established before an application is received. The Community Development Specialist said some screening is done over the phone which results in applications not being sent out, but the actual eligibility procedure is handled by the County after the resident reaches the top of the list. President Paulson questioned whether there is any legal prohibition against using Iength of residency as a requirement. The City Attorney suggested he be allowed time to Study the question before a requirement is established, as it may not be constitutional. President Paulson noted it might be acceptable if the requirement is only a factor. The City Attorney Said it is a question of whether the body as a whole acted on the matter. President Paulson suggested the recommendations be accepted as is but further investigation be done concerning a length of residency requirement. Commissioner Scott agreed. She added residents should not take unfair advantage of the program but increasing the lien period makes it a less profitable situation. She said people should wait their turn unless there is a health and safety issue. She asked to be informed concerning residents with only one and one -half years of residency reaching the top of the list. RESOLUTION N0, 94 -24 President Paulson introduced the following resolution and moved its adoption. RESOLUTION ADOPTING HOUSING COMMISSION RECOMMENDATIONS REGARDING THE ECONOMIC DEVELOPMENT AUTH01<1TY'S HOUSING REHABTLITATION DEFERRED LOAN PROGRAM The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Scott, and the motion passed unanimously. 60 /94 - 2 - RESOLUTION NO. 94 -25 Commissioner Scott introduced the following resolution and moved its adoption: RESOLUTION APPROVING TWO (2) BROOKLYN CENTER ECONOMIC DEVFT.OPMENT AUTHORITY GRANTS (FILE NOS. H -118 [8044] AND FILE NO. H- 119 [80451) The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Mann, and the motion passed unanimously. The Community Development Specialist reported $15,000 will not cover the project and the grant is written so it meets requirements. Commissioner Rosene questioned the cost for smoke detectors under Item No. 28. He asked how competitive the bids were. He said bids such as this cause him to be reluctant. Commissioner Mann commented the smoke detectors are electrically wired and that is the explanation for the cost. Commissioner Rosene asked whether bids are checked. The Community Development Specialist answered the Building Inspector checks bids and the program attempt to specify in order to choose the medium priced quality product for the projects. Commissioner Rosene asked whether the bid costs include labor. The Community Development Specialist confirmed that they do. The Building Inspector explained that often a contractor lumps his profits together on one item, making that item seem high. Commissioner Rosene asked the Buildin g Inspector ector whether he is comfortable with the bids p in question. The Building Inspector said he is. Commissioner Rosene stated he would trust the Building Inspector as he is knowledgeable. President Paulson mentioned the comfort level in regard to funding. Commissioner Mann mentioned the property being brought up to Section 8 standards. RESOLUTION NO, 94-M Commissioner Mann introduced the following resolution and moved its adoption: RESOLUTION APPROVING ONE (1) BROOKLYN CENTER ECONOMIC DEVELOPMENT AUTHORITY GRANT (FILE NO. H -117 18U4:31). 6/2 - 1 7 1 10 -- -AT - 3 - The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Rosene, and the motion passed unanimously. There was a motion by Commissioner Scott and seconded by Commissioner Mann to accept the Exterior Maintenance Standard. The motion passed unanimously. The Community Development Specialist asked whether he may continue to bring emergency health and safety cases to the EDA. He was told he may. Commissioner Mann inquired about whether the lease is for 30 days and whether it will remain the same. The Community Development Director said it is for 30 days and will not be lowered. He added in some cases it might be better to terminate the lease. RESOLUTION Nom). 9_4 -27 Commissioner Mann introduced the following resolution and moved its adoption: RESOLUTTON DIRECTING THE NEGOTIA'T'ION OF A PURCHASE AGREEMENT FOR 7000 BROOKLYN BOULEVARD The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Scott, and the motion passed unanimously. ADJOURNMENT Thcrc was a motion by Commissioner Mann and seconded by Commissioner Rosene to adjourn the meeting. The motion passed unanimously. The Brooklyn Center Economic Development Authority adjourned at 11:36 p.m. Todd Paulson, President Recorded and transcribed by: Barbara Collman TimeSaYer Off Site Secretarial 6/27194 .4 - Co=il Meeting Date 7/11/94 31 City of Brooklyn Center Age hm Nom« Request For Council Consideration • Item Description: PUBLIC HEARING REGARDING SALE OF EDA OWNED PROPERTY AT 6601 BRYANT AVENUE NORTH, BROOKLYN CENTER, N1NNESOTA Department Approval: Tom ublitz, Community Development Specialist Manager's Review/Recommendation: No comments to supplement this report Comments below /attached Summary Explanation: (supplemental sheets attached At the June 13, 1994 EDA meeting, the EDA considered an offer to purchase the EDA owned lot at 6601 Bryant Avenue North from Mr. Calvin Wright for $24,000, which is the established fair market • value for the lot. The EDA reviewed the house plans proposed by Mr. Wright at the June 13th meeting, and authorized a public hearing regarding the terms and conditions of the sale of the lot to Mr. Wright. The public hearing is scheduled for the July 11, 1994 EDA meeting. Staff is preparing a purchase agreement and contract for deed which will define the terms and conditions of the sale of the property. Staff is still in the process of drafting the documents and has not had an opportunity to discuss them with Mr. Wright. Therefore, staff is requesting the public hearing be opened on July 11th and kept open until the August 8, 1994 EDA meeting to allow staff additional time to review the purchase agreement and contract for deed with Mr. Wright prior to presenting them at the public hearing. I have spoken with Mr. Wright and holding the public hearing open to August 8th does not present any timing problems for him since he has not sold his existing house as yet. Recommendation: Staff recommends opening the public hearing on the sale of the EDA owned property at 6601 Bryant Avenue North and continuing the public hearing to the August 8, 1994 EDA meeting. • Ca =9 Meeft Date 7/11/94 City of Brooklyn Center Agen& R m xwabed 46 Q / Request For Council Consideration • Item Description: RESOLUTION DIRECTING THE NEGOTIATION OF A PURCHASE AGREEMENT FOR 7000 BROOKLYN BOULEVARD Department Approval: f BrtHoffman, Director of Com ty Development Mara g er s Review/Recommendation: No comments to supplement this report Comments below /attached Summary Explanation: (supplemental sheets attached � ) See resolution accompanying this request form. � JUL 07 34 09:1E HOLNE5 !FRvEN P.7 PURCHASE AGREEMENT This Purchase Agreement is made , 1994, by and between MARQUETTE BANK BROOKDALE, a Minnesota banking corporation, having offices at 5620 Brooklyn Boulevard, Brooklyn Center, Minnesota 55429 ( "Seller "), and the ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF BROOKLYN CENTER, a public body corporate and politic under the laws of the State of Minnesota, having offices at 6301 Shingle Creek Parkway, Brooklyn Center, Minnesota 55430 ("Buyer "). Recitals A. Seller is the owner of that certain real estate located at 7000 Brooklyn Boulevard, City of Brooklyn Center, Hennepin County, Minnesota, legally described as: Lot 1, Block 1, REALTY TERRACE together with all improvements thereon (the "Property "). B. Buyer desires to acquire the Property by voluntary sale in fee simple absolute. C. Seller agrees to sell they Property to Buyer. Agreeme In consideration of the mutual agreements made herein, Seller and Buyer agree as follows: 1. Offer /Acceptance Buyer agrees to purchase and Seller agrees to sell the Property under the terms and conditions stated in this Agreement. There is no personal property included in the sale. 2. Purchase Price The purchase price for the Property shall be one Hundred Seventy -one 'Thousand and no /100ths Dollars ($171,000.00) and shall be payable in cash or by certified funds or the equivalent on the Closing Date (as hereafter defined). 3. Marketability of Title In lieu of an abstract, Seller has delivered to Buyer an owner's commitment of title insurance in the full amount of the purchase price. The Buyer shall have ten (10) days after execution of this agreement for the examination of the commitment and' to deliver written objections, if any, to the Seller. Seller shall have 20 days after receipt of Buyer's written objections to make title marketable. Seller shall pay the entire premium for the title insurance policy. a. If the Seller proceeds in good faith to make title marketable but fails to do so within the 20 day period, Buyer CM72327 stt�os -sz JUL O f ' "54 C i i � GF H : Li'1ES _ or. H P. may terminate this Agreement without any liability on its part. b. If Seller fails to make title marketable within the 20 day period due to Seller's failure to proceed in good faith, or, if title is marketable but Seller defaults in its obligations under this Agreement, Buyer may seek any of the following remedies permitted under law: (1) terminate this Agreement by notice to Seller; or (ii) seek specific performance of this Agreement, provided that the action is commenced within 6 months after the cause of action arises. C. If title is marketable or is corrected within the 20 day period and Buyer defaults in any of the agreements herein, Seller may terminate this Agreement and retain all payments made under this Agreement as liquidated damages. The termination period for a Notice of Cancellation of this Agreement shall be 30 days as permitted by Minnesota Statutes, Section 559.21, subd. 4. Notwithstanding the above, if Seller provides Buyer with a title insurance policy as marked up on - the attached Exhibit B. Buyer shall accept the title as marketable pursuant to this paragraph 3. 4. Conditions to Closing The closing of the transaction contemplated by this Agreement and the obligation of the Buyer to purchase the Property shall be subject to Seller delivering title to Buyer pursuant to paragraph 3 above. 5. Real Estate Taxes . On or before the Closing Date, Seller Will pay all delinquent real estate taxes, penalties and interest, if any. Real estate taxes payable in the year of closing will be prorated between Buyer and Seller as of the Closing Date. Seller warrants that real estate taxes payable in 1995 are non - homestead. 6. Closing Date The closing of this transaction shall take place on July 12, 1994 at the of of Seller. 7. Documents to be Delivered at Closing on the Closing, Date, Buyer shall deliver to Seller: the Purchase Price and Seller shall deliver to Buyer: a. A duly executed limited warranty deed, conveying title to the Property to Buyer, subject only to: (i) building and zoning laws, ordinances, state and federal regulations; (ii) utility and drainage easements which do not interfere with Buyer's intended use of the property; (iii) reservation of any minerals or mineral rights to the State of Minnesota; (iv) rights of tenants disclosed to Buyer in paragraph 12 of this Agreement; (v) the matters set forth in the title commitment attached as Exhibit B. b. A duly executed affidavit of Seller. CAR72327 ^ SA305 -42 2 -TILL L _- _ : F.4 C. All documents necessary to establish marketable title in Buyer. 8. Closing Costs Buyer shall pay the fee for recording of the Seller's limited warranty deed. Seller shall pay all costs for examination of title, title insurance premium, and recording fees and charges relating to the filing of instruments required to make title conform to Exhibit B. 9. Rents, Utilities All rents, utilities, insurance premiums on transferable policies and other income and expenses relating to the Property will be prorated between Seller and Buyer as of the Closing Date. 10. Covenants, Representations and Warranties of Seiler a. The signatories to this Agreement represent that they are agents of the Seller and are authorized to execute this Agreement on the Seller's behalf. b. Seller warrants that it will take no actions to encumber title to the Property after the date of this Agreement and that it will indemnify and hold the Buyer harmless against any liens or encumbrances established in violation of this provision. C. Seller warrants that it has not used the Property for the storage of hazardous substances or petroleum products and, as of the date of this Agreement, is not aware of any facts the existence of which would constitute a violation of any local, state or federal environmental law, regulation or review procedure, or which would give any person a valid claim under the Minnesota Environmental Rights Act or the federal Comprehensive Environmental Response, Compensation and Liability Act. d. Seller warrants no labor or material has been furnished to the Property during the period of Seller's ownership for which payment has not been made. e. Seller warrants that to the best of its knowledge the Property is subject to month -to -month tenancies in favor of the persons or entities and at the rental rates listed on the attached Exhibit A. Seller further warrants that it has not received any security deposits from any of the tenants. Seller agrees to notify tenants in writing; ( i ) of the transfer of Seller's interest in the Property to Buyer; (ii) that no security deposits are being transferred to Buyer. Seller will provide Buyer with a copy of the letter and proof of mailing at the Closing. f. The warranties made in this paragraph shall survive closing without merger in the deed; provided that any !.M72327 B MCS -a2 3 _ri :L C 7 "_4 _'V: 1 i 2 GFR;` -;'Ei l P. 5 action for breach of warranty must be commenced within two years after the date of closing. 11. Covenants, Representations, and Warranties of Buyer Buyer is a public body corporate and politic under the laws of the State of Minnesota and has the power to enter into this Agreement and to carry out its obligations hereunder. The signatories to this Agreement represent that they are authorized to execute this Agreement on Buyer's behalf. 12. No Broker Involved The Seller and Buyer represent and warrant to each other that there is no broker involved in this transaction with whom it has negotiated or to whom it has agreed to pay a broker commission or finder's fee in connection with negotiations for the sale of the Property arising out of any alleged agreement, commitment or negotiation by Seller. 13. Possession and Insurance Seller shall deliver possession of the Property to Buyer on the Closing Date in the same condition as exists on the date of this Agreement. If there is any loss or damage to the Property between the date hereof and the date of closing, for any reason including fire, vandalism, flood, earthquake or act of the risk of loss shall be on Seller. If the Property is destroyed or substantially damaged before the closing date, this Purchase Agreement shall become null and void, at Buyer's option, and earnest money shall be refunded to Buyer. Buyer and Seller agree to sign cancellation of Purchase Agreement. 14. Personal Property On the date when possession is transferred to Buyer, the Seller shall have removed from the Property any and all persona} property belonging to it which is not included in this sale. An personal property � P Y whi ch is not removed Y P by the date of transfer of possession shall b e considered prop of the tenants or otherwise abandoned. 15. Well Disclosure Seller is not aware of any wells located on the Property, and will include a statement to that effect in the limited warranty deed to be provided under parag g p h 7 of this agreement. 16. Remedy for Default If Buyer defaults in any of the agreements herein, Seller may terminate this Purchase Agreement. If this Purchase Agreement is not so terminated, Buyer or Seller i may seek actual damages for breach, of this Agreement or specific P 9 � performance, performance of this Agreement; and, as t o specific ormance , P P such within six action must be co i g action arises. 17. Time of Essence Time is of the essen in this Purchase Agreement. 18. Entire Agreement; Amendments This Agreement represents the complete and final agreement of the parties and supersedes any prior or contemporaneous oral or written understanding between the CAR72327 BV305 -42 4 parties, This Agreement may be amended only by a writing signed by both parties. 19. Binding Effect; Assignment This Purchase Agreement shall be binding upon the artier hereto and their respective sha bi g P P heirs, executors, administrators, successors a nd assigns. Each party agrees to give the other party notice prior to assigning its interest in the Property or this Agreement. 20. Notice Any notice, demand, request or other communication which may or shall be given or served to or on Seller by Buyer or to or on Buyer by Seller shall be deemed to have been given or served on the date the same is deposited in the United States mail, registered or certified, postage prepaid and addressed as follows: 1 If to Seller: Frank Slawson, President Marquette Bank Brookdale 5620 Brooklyn Boulevard Brooklyn Center, MN 55429 (2): If to Buyer: Brad Hoffman Brooklyn Center EDA 6301 Shingle Creek Parkway Brooklyn Center, MN 55430 IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed on the date written above. SELLER: MARQUETTE BANK BROOKDALE By Its By its BUYER By Its President By Its Executive Director cA21asa7 5 ex3c5 -i2 IJ LJI L 3.' "_�+ ��'� 1� HnLrtES A w v r< r' x c c c a ar.Ff'� 0IId Rep Schedule A Nitional Title Insurance Company Commitment APOSCatlad YatAbar AT44 -9":17 1. Corn -v tR our Ditto 1 `. �. POfiey cyr Pulleles) to be iuvad. t'e3 .AZ A OWNWIS POLL" 10.17.92 Policy Amuast { 3,�r<�hose.� irts�sred; i :riArtiastte � at$ �,�A 1 (b) AVr LOAN POLICY 18.1 -92 Policy Amount S Propos -ad Injured; . I i (e) AL A RPSSDl1t+1ML OW:'Ex'S Pt?I,It:Y (1987) Policy Arnoaat S 1 3',rc�s�au3c� La: 1 0) Policy Au U"t S F'rapusb+c Imurcd. ittc m-A in the l and detcdtwd in this Commitment is owned, #t the Cominitmezts Nq by; , l ? �ittr�uet .�►.�az:lcltraol�,ilo� .e /9i +rr.+,sr -.�*. �.e.,��C,s� .�1`����+ 4 ' alas luni retix;rmd to to this Commitment it descwibad to follows; Let :t, Vork i, ?3rulty Tzrm4s, word'i g to the plat thort on site and of record in tad for the *Fief . a- the 1 'antic n Ca uity Recorder, State of "Xna mate. i Abstrsct property lit Hauzopla County. Prupert°f eddrass: �'G00 BrovlByn $aulavtrtl Smklya Cantor, Mimaesota w 1. 1' 1 L Jt !L 071 . . 34 0 D S H OLMES C GPf;7 1 t i Olaf lRepublic Schedule B- Section I NI4ti4 Tilde Insurance Company Commitment 1 ThefulFowiq roodr*nsantt must w mat: (a) ?v Cho I,;r:r <i :1m4uttt ihr the Entamt In the t *rid Audlar the inompgo to bo luxl4rrd. (b) ; Plitt u: 411 pramiumx, face and darljes i.'ar the policy. f I 4med. rlunwcred _ mod- �Iaot"daek -- - Melt tnuit te ll) us in Veritin; tho n 3ims of suyona not referrad to In thk Commitmout who will get oat inrarust im 11Ye Land or wha wi11 nt»ka % 1t3an on the land. Wo mey then m%ka additloaxl regnirmants rdJ�f�'► A or tzept:141biL 1 "*,; `� Aff daAl 4 Non M311tary Status rot Rlsiturd A. RoWatad xnd 34vidy J. Roc:ksiad +� '� ' G�f�et o t.:.� ,� !�r` Tai;s�:h,rga a}'� sac P tndens by:�urwcxt Hastk:l+ii�bes4ccr, N..A., itWe�'or+yasc'bprtic Camdctt, Aa 't�C !!�'� (ILu: In Ire #rttmaat ds:cd February 28, 213 tecordesi:KerchZ,19:�Z xsYk�umert!?Vo, X88 A9. :iatt. Th4 lix %tiaa of the Ahstrzet of Vitt is uWmimu to Aiviatap Vela 01~ ! � • 5 • . M i� ! 1 1 i T ' L-J_,L 07 '9:l 09: 1 PC t�RA EF1 w a r r = �, o P. 9 — - I i Old Republic Schedule B- Section U Ni lonal Title Insurance Company COMMItingat r • � �'Y�E�ONS r Arty, we 3slu a wi hAVI that t'a711awing azce'Aops %1UNSS they are taken ears of to our satufattlon, r facts which Would be 4lsetosud by x eomprehienslve skrvvy at the preiWiss heals descrlbod. r' �} 9tthYS ar Clsaittt3 5f patrtdes in rGtxosaivai. i i r �, { 4.a, cnsa :ales', i:Gttti7irtorua or Matorinln:aa>a ISMas atad lion claim, If any, nh1tr41w Aotku thcroof � sspp+a>u�c of row`4rd Any Chun° deg E!t t,ltht accu rrtan xuisso uoae to the rffacttvo oft C 4 aj to ontastttnr;at and prtor to tho ds;t +r ash irsaalescu vP rba this policy, j �#XD tiro year 1994 ;n tbj etnount or $1Zd2 7.76 tro unpoid. eta 27119• :f�33.04d`y �,�, )�rse t�:racisttt» Si2,ps9.4x �� s I * thoyaair IM In Cho amount of 58,45143 sre unpaid finciudt»q pswity sad interest to Jun# �.. � 17 4 19t�•) I ? YI I 4 #ssotsrraents for :194: SSR.N .1::x3aco Outs and C4•Icrttshts In favor of this City of Brooldiyn Canter, for sidtwalk parpotaa, xis ,• �1 +. : :cti boU {;� ,,cal truastant rlatad ,5aegtambat 9,1971, rs:cardca# ?4tasy 1"1,1972 ss Doautntnt No..394b73#. • wiarelnart and cavelsants I* N vor or th4 C14r of Brookiyu Canto for sldowsilk purpm% as drfs;rlbad r in ins trWSbattt slatrrai 5epi+:rsbar 321971, mcor ded :1 q 17 I= as Dora Ment ft 39461X T% c i OlV*4a sad Wxivrr or it torts t In egptp•meut leased by $gWou for:, lkc. %* Caamry %I- Lawry i .;, < <rL_ �axFtors :. a�u; F�tpid :, 7nr., by istsctvsuopt dotal ,August 36, Z9 ?8, srs dtscrio4d its Gastrumcni darted ., Aug14.r¢.16, 1918 and ratoPdrd ovtober 3A, 1979 stt DoautnetttNo, 442443.1. t � t , } i i { Ofld�Republic Schedule Continued NAtio nal TJ!fle Insumuce Company . (j} i_at►sad and WeYrar of Warm I n 9quipmeat leased by Squfco I.tr.>iors, ia& to Cautuq 21•I.awry. :2etit - m- Coan IU;1 a, itac., by Imttr= at dawd Anpat 16, IM, iu dti crowd is instrumon! datiod Au*mt �3, V; 7$, and worded Ortaba•'r 30. IM :4s Docament Na 4424686, ; »�jeck b) 911s+ #ddWanal requirvmants or excepttlans kt A final rs lom j • ,9 a .:•..., . _.. , • .. r'i r ,. .wl,..•r , .. .. • . • . � .• ' , '.ii'j, � �y�:•'Y�i.fj , .� w, /� -� T', c v L . i i Commissioner introduced the following resolution a and moved its adoption: EDA RESOLUTION N O O. RESOLUTION ACCEPTING PURCHASE AGREEMENT FOR 7000 BROOKLYN BOULEVARD AND AUTHORIZING ITS PURCHASE WHEREAS, the Brooklyn Center Economic Development Authority EDA Y P Y� ) was directed to negotiate otiate a purchase agreement with Marquette Bank Brookdale• and g P g Q , WHEREAS h E t o DA has before i r o e t a purchase agreement signed by Marquette Bank Brookdale; and WHEREAS, it is in the best interest of the EDA to redevelop the area in and around 69th and Brooklyn Boulevard; and WHEREAS, the subject property is located within the area the EDA desires to rehabilitate. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority in and for the City of Brooklyn Center as follows: 1. The EDA hereby approves the purchase agreement and directs the President and Executive Director to sign the same. 2. The purchase shall be charged against the EDA special operating fund. Date Todd Paulson, 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 duly passed and adopted. Commissioner introduced the following resolution and moved its adoption: EDA RESOLUTION NO. RESOLUTION DIRECTING THE NEGOTIATION OF A PURCHASE AGREEMENT FOR 7000 BROOKLYN BOULEVARD WHEREAS, the Marquette Bank Brookdale (the "Owner ") is the Owner of certain real property in the City of Brooklyn Center located at 7000 Brooklyn Boulevard (the "Subject Property "); and WHEREAS, the Subject Property is within the area of Housing Development and Redevelopment Project No. 1 • and P J WHEREAS, the Owner has offered to sell the Subject Property to the Economic Development Authority in and for the City of Brooklyn Center (the "Authority ") for the sum of One Hundred Seventy -one Thousand Dollars ($171,0000); and WHEREAS, the Authority has determined that the purchase price of the Subject Property is fair and reasonable and that the acquisition of the Subject Pro for redevelopment q Property P purposes is necessary or expedient and is in the best interest of the public. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority in and for the City of Brooklyn Center that the Authority's staff and legal counsel are authorized and directed to negotiate with the Owner a purchase agreement for the Subject Property for later consideration by the Authority. Date Todd Paulson, 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 duly passed and adopted.