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HomeMy WebLinkAbout2010 11-08 EDAP EDA MEETING City of Brooklyn Center November 8 2010 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. October 25, 2010 — Regular Session 4. Commission Consideration Items a. Resolution Authorizing the Acquisition of Property in Connection with the Remove and Rebuild Program (5400 Bryant Avenue North) Requested Commission Action: — Motion to adopt resolution. 5. Adjournment EDA Agenda Item No. 3a 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 OCTOBER 25, 2010 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 7:43 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, Director of Fiscal and Support Services Dan Jordet, Public Works Director /City Engineer Steve Lillehaug, Assistant City Manager/Director of Building and Community Standards Vickie Schleuning, City Clerk Sharon Knutson, City Attorney Charlie LeFevere, and Carla Wirth, TimeSaver Off Site Secretarial, Inc. • 3. APPROVAL OF AGENDA AND CONSENT AGENDA Commissioner Roche moved and Commissioner Lasman seconded approval of the Agenda and Consent Agenda, and the following item was approved: 3a. APPROVAL OF MINUTES 1. July 12, 2010 — Regular Session Motion passed unanimously. 4. COMMISSION CONSIDERATION ITEMS 4a. RESOLUTION NO. 2010 -15 AUTHORIZING THE SUBMISSION OF A GRANT APPLICATION TO THE METROPOLITAN COUNCIL FOR THE TAX BASE REVITALIZATION ACCOUNT Executive Director Curt Boganey introduced the item, discussed the history, and stated the purpose of the proposed resolution to allow the property owner to make application for a $50,000 grant to do site cleanup and remediation. The outcome will be a multi -tenant office /warehouse development of 50,000- 60,000 square feet. 10/25/10 -1- DRAFT Commissioner Yelich moved and Commissioner Lasman seconded adoption of RESOLUTION NO. 2010 -15 Authorizing the Submission of a Grant Application to the Metropolitan Council for . the Tax Base Revitalization Account. President Willson commended staff for its progressive work towards redevelopment. Commissioner Ryan explained the groundwater and soil pollution had occurred from the water used to extinguish a fire in 1979. The delay was due to a conflict between the MPCA and Minnesota Department of Agriculture regarding the best pollution mitigation, which needed to be resolved before this site could be redeveloped. President Willson noted the City has taken proactive action on sites with contamination and been a willing partner with the MPCA and Department of Agriculture and residents should be proud of the efforts made on their behalf. Motion passed unanimously. 5. ADJOURNMENT Commissioner Lasman moved and Commissioner Ryan seconded adjournment of the Economic Development Authority meeting at 7:50 p.m. Motion passed unanimously. • 10/25/10 -2- DRAFT • EDA Agenda Item No. 4a EDA ITEM MEMORANDUM DATE: November 2, 2010 TO: Curt Boganey, City Manaw7 FROM: Gary Eitel, Director of Business and Development SUBJECT: Resolution Authorizing the Acquisition of Property in Connection with the Remove and Rebuild Program (5400 Bryant Avenue North) Recommendation: It is recommended that the Economic Development Authority consider approval /adoption of the Resolution Authorizing the Acquisition of Property in Connection with the Remove and Rebuild Program (5400 Bryant Avenue North). Background: On January 12, 2009, the EDA adopted Resolution No. 2009 -02 "A Resolution Establishing Housing Programs and Approving the Use of Funds from Tax Increment District No. 3 Housing Account ". This resolution included the creation of the Remove and Rebuild Program, a program which enabled the acquisition and removal of blighted, distressed, • and unmarketable foreclosed properties. The goal of this program was to return these properties to an enhanced and compatible use with the neighborhood that was consistent with zoning regulations and the City's Comprehensive Plan. On October 26, 2009 the EDA, adopted Resolution No. 2009 -18, which established standards and conditions to expand the effectiveness of the Remove and Rebuild Program by enabling staff to acquire foreclosed & vacant properties that were determined to be blighted structures with a purchase price that was not more than 65% of Hennepin County's latest estimated market value and did not exceed $80,000. This resolution included an expiration date of October 26, 2010. Proposed Acquisition: The 2010 property tax value is shown at $ 98,500 The property has 63' of frontage on Bryant Ave. and 150' of lot depth which adjoins Bellvue Park. The building records identifies that the home was built in 1923. The property was registered as a vacant building on May 10, 2010 and after further inspections by the City and GMHC it was determined that the property was not a candidate for NSP Acquisition and Rehab Program and should be acquired through the City's Remove and Rebuild Program. Mission: Ensuring an attractive, clean, safe community that enhances the quality of life and preserves the public trust EDA ITEM MEMORANDUM GMHC acquired the property on May 25, 2010 thorough the First Look Program for $18,574.82 and removed the home the first week in Augusta The attached urchase agreement with the Greater Metropolitan Housing Corporation P g p g oration also p includes the following reimbursement costs and fees associated with the City's Housing Consultant Service Contract with GMHC: Demolition costs $18,100.00 Property Taxes $ 952.07 Property Management $ 1,681.28 Administrative Fee $ 3,000.00 Demolition Fee $ 5,000.00 The total acquisition & demolition costs for this property is $47,308.17 The future use of the property has been identified as; 1. Infill Development When market conditions are favorable, the redevelopment of this lot with a single family residence. The 2010 estimated value of this lot is $48,800. Budget Issues: The acquisition and demolition costs for this property will be funded by the Housing Account from Tax Increment District No. 3. The annual maintenance of this property is expected to be minimal and will be funded through the Housing Account of Tax Increment District No. 3. Council Goals: We will stabilize and improve residential neighborhoods. Mission: Ensuring an attractive, clean, safe comnuinity that enhances the quality of life and preserves the public trust Commissioner introduced the following resolution and moved its adoption: EDA RESOLUTION NO. RESOLUTION AUTHORIZING THE ACQUISITION OF PROPERTY IN CONNECTION WITH THE REMOVE AND REBUILD PROGRAM (5400 BRYANT AVENUE NORTH) 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 5400 Bryant Avenue North (the "Subject Property") was a vacant and foreclosed residence that was offered for sale through the First Look Program for a price of $18,574.82; and WHEREAS, City staff and consultants have inspected this property and determined that the condition of the property and structural defects to its foundation qualified this property for the Remove and Rebuild Program; 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. 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 duly passed and adopted. • • W2 ' --.. $434 i Location Map 5400 Bryant Ave N 5 22.. sm 54n� 3331 34#tt M60 5333 5334 z w r 4 BUIIvu6 P43 53.t8 3337 " # o c 5344 5324 3 5325 319 5348 % 4 5 5324 317 3335 5315 53 15 z w y a 5311 3330 3304 � � f 5387 532# BELLVUE l N N 1 f' i Es# B0t 721 711 78t r 4i2t 5�0 �2z I 53Rd"t[� Mas Ca ed?89Aao�15- Ctpyii d {C} "f#^2xK 0 loft Residential • PURCHASE AGREEMENT 1. PARTIES. This Purchase Agreement ( "Agreement ") is made by and between the GREATER METROPOLITAN HOUSING CORPORATION, a non -profit corporation under the laws of Minnesota ( "Seller ") and ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER, a public body corporate and politic under the laws of the State of Minnesota, ( "Buyer "). 2. EFFECTIVE DATE. The "Effective Date" of this Agreement is the date upon which Seller has executed this Agreement. 3. SALE OF PROPERTY. Seller is the owner of that certain real estate (the "Property ") located at 5400 Bryant Avenue North, in the City of Brooklyn Center, Hennepin County, Minnesota and legally described as follows: That part of the South one -half (S 1/2) of Lot Sixteen (16), Block Three (3), Bellvue Acres, lying West of the East 150 feet of said Lot Sixteen (16), according to the recorded plat thereof, and situate in Hennepin County, Minnesota. Abstract Property 4. OFFER/ACCEPTANCE. In consideration of the mutual agreements herein contained, Buyer offers and agrees to purchase and Seller agrees to sell and hereby grants to Buyer the exclusive right to purchase the Property and all improvements thereon, together with all appurtenances, including, but not limited to, plant, shrubs, trees, and grass. 5. PERSONAL PROPERTY INCLUDED IN SALE. There are no items of personal property or fixtures owned by Seller and currently located on the Property for purposes of this sale. 6. CONTINGENCIES. Buyer's obligation to buy is contingent upon the following: A. Buyer's determination of marketable title pursuant to paragraph 9 of this Agreement; and B. Buyer's determination, in Buyer's sole discretion, that the condition of the Property is acceptable to Buyer, pursuant to paragraph 8 of this Agreement. • 7. PURCHASE R HASE PRICE AND TERMS. A. PURCHASE PRICE: The total Purchase Price for the real estate included in this sale is Eighteen Thousand Five Hundred Seventy Four and 82/100 Dollars ($18,574.82). B. TERMS: (1): EARNEST MONEY. The sum of Zero and 00 /100 Dollars ($0.00) earnest money paid by Buyer to Seller, the receipt of which is i hereby acknowledged. (2): BALANCE DUE SELLER: Buyer agrees to pay by check or wire transfer on the closing date any remaining balance due according to the terms of this Agreement. (3): DEED/MARKETABLE TITLE: Subject to performance by Buyer, Seller agrees to execute and deliver a Limited Warranty Deed conveying marketable title to the Property to Buyer, subject only to the following exceptions: a. Building and zoning laws, ordinances, state and federal 0 regulations. b. Reservation of minerals or mineral rights to the State of Minnesota, if any. c. Public utility and drainage easements of record which will not interfere with Buyer's intended use of the Property. (4): DOCUMENTS TO BE DELIVERED AT CLOSING BY SELLER. In addition to the Limited Warranty Deed required at paragraph 7 B (3) above, Seller shall deliver to Buyer: a. Standard form Affidavit of Seller. b. Abstract of title, if available. C. Well disclosure certificate, if required, or, if there is no well on the Subject Property, the Warranty Deed given pursuant to subparagraph 3(a) above must include the following statement: "The Seller certifies that the Seller does not know of any wells on the described real property." d. Such other documents as may be reasonably required by Buyer's title examiner or title insurance company. I 8. INSPECTION CONTINGENCY. On or before ten (10) calendar days from the Effective Date, Buyer may inspect the Property or obtain for its own use, benefit and reliance, inspections and /or reports on the condition of the Property, or Buyer shall be deemed to have waived such inspections and objections to the condition of the Property and accepted the condition of the Property. Buyer shall keep the Property free and clear of liens and indemnify and hold Seller harmless from all claims arising out of or relating in any way to Buyer's inspection. If Seller has winterized the Property and Buyer desires to have the Property inspected, Seller will have the Property dewinterized prior to inspection and rewinterized after inspection, and Buyer agrees to pay the expense of the same in advance to Seller. Within five (5) calendar days after receipt of any inspection report prepared by or for Buyer, but not later than fifteen (15) calendar days after the Effective Date, whichever occurs first, Buyer shall provide written notice to Seller of any items disapproved or problems with the condition of the Property. The Buyer's failure to provide written notice to Seller shall be deemed as Buyer's acceptance of the condition of the Property. The Buyer shall immediately provide to Seller, at no cost, upon request by Seller, complete copies of all inspection reports upon which Buyer's disapproval of the condition of the Property is based. In no event shall Seller be obligated to make any repairs or replacements, or correct any problems or defects that may be indicated in Buyer's inspection reports. The Seller may, at its sole discretion, make such repairs, replacements or corrections to the Property. If Seller elects not to repair or correct the • Property, Buyer may cancel the Agreement within five (5) calendar days of receiving written notice from Seller that Seller elects not to repair or correct the Property. If Buyer timely notifies Seller of such cancellation, then Buyer shall receive all earnest money deposited. If Seller elects to make any such repairs or corrections to the Property, Seller shall notify Buyer after completion of the repairs or corrections and Buyer shall have five (5) calendar days from the date of such notice, to inspect the repairs or corrections and notify Seller of any items disapproved. Buyer's failure to notify Seller of any items disapproved shall be deemed acceptance by Buyer of the condition of the Property. 9. MARKETABILITY OF TITLE. Buyer shall, at its expense and within a reasonable time after the Effective Date, obtain a commitment for title insurance ( "Commitment ") for the Property, including all appropriate searches for bankruptcies, judgments, real estate taxes and pending and levied special assessments. Buyer shall have ten (10) business days after receipt of the Commitment to examine the same and to deliver written objections to title, if any, to Seller. If Buyer raises objection to Seller's title to the Property, Seller shall have the option, at its discretion, to terminate this Agreement or to undertake to correct the title defect or to obtain affirmative coverage for the title objection from a reputable title insurance company at Seller's cost. If Seller corrects the defect or obtains affirmative coverage for the defect, Buyer shall perform according to the terms of this Agreement. Seller is not obligated to (a) remove any exception; (b) bring any action or proceeding or bear any expense in order to convey title to the Property; or (c) make the title marketable or insurable. Any attempt by Seller to remove such title exceptions shall not impose an obligation upon Seller to remove those • exceptions. In the event that Seller is not able to (a) make title marketable or (b) obtain title insurance for the Property from a reputable title insurance company, either party may terminate this Agreement and any earnest money will be returned to Buyer as Buyer's sole remedy at law or equity. 10. CLOSING DATE. The closing of the sale of the Property shall take place as soon as possible and not later than November 15, 2010. The closing shall take place at Old Republic National Title Insurance Company, whose address is 400 Second Avenue South, Minneapolis, Minnesota 55401. STATE TAXES. 11. REA L E S A. Buyer shall pay to date of closing, the real estate taxes due and payable in the year of closing on the Property. B. Buyer shall reimburse seller Nine Hundred Fifty Two and 07/100 Dollars ($952.07) for real estate taxes paid by buyer since buyer's acquisition of the property. 12. SPECIAL ASSESSMENTS. A. Seller shall pay any deferred real estate taxes or special assessments, payment of • which is required as a result of the closing of this sale. B. Notwithstanding any other provision of this Agreement, Seller shall at all times be responsible to pay special assessments, if any, for delinquent sewer or water bills, removal of diseased trees prior to the date of this Agreement, snow removal, or other current services provided to the Property by the assessing authority prior to closing. 13. CLOSING COSTS AND RELATED ITEMS. Buyer will pay: (a) the closing fees charged by the title insurance or other closing agent, if any, utilized to close the transaction contemplated by this Agreement; (b) the title search and exam fees, name search fees and other fees incurred in preparation of the Commitment for title insurance, including the premium for title insurance policy obtained by Buyer; (c) any transfer taxes and recording fees required to enable Buyer to record its deed from Seller under this Agreement, (d) an administrative transaction fee of Three Thousand and 00 /100 Dollars ($3,000.00) (e) a demolition fee of Five Thousand and 00 /100 Dollars ($5,000.00). 14. OTHER. A. Buyer will reimburse seller Eighteen Thousand One Hundred and 00 /100 Dollars ($18,100.00) for demolition of the property. i I I B. Buyer will reimburse seller One Thousand Six Hundred Eighty One and 28/100 • Dollars ($1,681.28) for property management costs incurred since buyer's acquisition of the property. 9 P P e rty 15. POSSESSION/UTILITIES/NO ENCUMBRANCES. A. POSSESSION. Seller shall transfer possession of the Property to Buyer at closing. B. UTILITIES. Seller agrees to pay all charges for sewer, water, electric, gas, and cable television incurred prior to closing. C. NO ENCUMBRANCES. Seller agrees not to place any liens or encumbrances on the Property after the date of this Agreement. 16. DISCLOSURE; INDIVIDUAL SEWAGE TREATMENT SYSTEM. Seller discloses that there ❑ is El is not a subsurface sewage treatment system on or serving the Property. If there is an subsurface sewage treatment system on or serving the Property, Seller discloses that the system ❑ is ❑ is not in use, and Seller further discloses that the type of system is: ❑ septic tank with ❑ standard drain field ❑ mound system drain field ❑ sealed system (holding tank or contained cesspool) • ❑ other (describe) ❑ seepage tank ❑ cesspool ❑ dry well ❑ leaching pit If there is a subsurface sewage treatment system, a disclosure statement accompanies this Agreement. 17. WELL DISCLOSURE. Seller discloses that there ❑ is El is not a well on or serving the Property. If a well is present, a well disclosure statement accompanies this Agreement. 18. LEAD. If the dwelling structure on the Property was constructed prior to 1978, a lead paint disclosure accompanies this Agreement. 19. - CONDITION OF PROPERTY. BUYER UNDERSTANDS THAT SELLER ACQUIRED THE PROPERTY BY ACQUISITION FROM A SELLER WHO IN TURN ACQUIRED THE PROPERTY BY FORECLOSURE, DEED -IN-LIEU OF FORECLOSURE, FORFEITURE, TAX SALE, OR SIMILAR PROCESS, AND CONSEQUENTLY, SELLER HAS LITTLE OR NO DIRECT KNOWLEDGE CONCERNING THE CONDITION OF THE PROPERTY. AS A MATERIAL PART OF THE CONSIDERATION TO BE RECEIVED BY SELLER UNDER THIS AGREEMENT, BUYER ACKNOWLEDGES AND AGREES TO ACCEPT THE PROPERTY IN "AS IS" CONDITION AT THE TIME OF CLOSING, INCLUDING WITHOUT LIMITATION, ANY HIDDEN DEFECTS OR ENVIRONMENTAL CONDITIONS AFFECTING THE PROPERTY, WHETHER KNOWN OR UNKNOWN, I • WHETHER SUCH DEFECTS OR CONDITIONS WERE DISCOVERABLE THROUGH INSPECTION OR NOT. BUYER ACKNOWLEDGES THAT SELLER AND ITS AGENTS, BROKERS, AND REPRESENTATIVES HAVE NOT MADE, AND SELLER SPECIFICALLY NEGATES AND DISCLAIMS, ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS, OR GUARANTEES, IMPLIED OR EXPRESS, ORAL OR WRITTEN, WITH RESPECT TO: A. THE PHYSICAL CONDITION OR ANY OTHER ASPECT OF THE PROPERTY INCLUDING, BUT NOT LIMITED TO, THE STRUCTURAL INTEGRITY OR THE QUALITY OR CHARACTER OF MATERIALS USED IN CONSTRUCTION OF ANY IMPROVEMENTS, AVAILABILITY AND QUANTITY OR QUALITY OF WATER, STABILITY OF THE SOIL, SUSCEPTIBILITY TO LANDSLIDE OR FLOODING, SUFFICIENCY OF DRAINAGE, WATER LEAKS, WATER DAMAGE, MOLD OR ANY OTHER MATTER AFFECTING THE STABILITY OR INTEGRITY OF THE PROPERTY; B. THE CONFORMITY OF THE PROPERTY TO ANY ZONING, LAND USE OR BUILDING CODE REQUIREMENTS OR COMPLIANCE WITH ANY LAWS, STATUTES, RULES, ORDINANCES, OR REGULATIONS OF ANY FEDERAL, STATE OR LOCAL . GOVERNMENTAL AUTHORITY, OR THE GRANTING OF ANY REQUIRED PERMITS OR APPROVALS, IF ANY, OF ANY GOVERNMENTAL BODIES THAT HAD JURISDICTION OVER THE CONSTRUCTION OF THE ORIGINAL STRUCTURE, ANY IMPROVEMENTS, AND /OR ANY REMODELING OF THE STRUCTURE; AND C. THE EXISTENCE, LOCATION, SIZE OR CONDITION OF ANY OUTBUILDINGS OR SHEDS ON THE PROPERTY. 20. ENTIRE AGREEMENT; AMENDMENTS. This Agreement constitutes the entire agreement between the parties, and no other agreement prior to this Agreement or contemporaneous herewith shall be effective except as expressly set forth or incorporated herein. Any purported amendment shall not be effective unless it shall be set forth in writing and executed by both parties or their respective successors or assigns. 21. BINDING EFFECT; ASSIGNMENT. This Agreement shall be binding upon and inure to the benefit of the parties and their respective heirs, executors, administrators, successors and assigns. Buyer shall not assign its rights and interest hereunder without notice to Seller. 22. NOTICE. Any notice, demand, request or other communication which may or shall be given or served by the parties 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: SELLER: GREATER METROPOLITAN HOUSING CORPORATION 15 South Fifth Street, Suite 710 Minneapolis, MN 55402 Attn: Carolyn Olson BUYER: ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER 6301 Shingle Creek Parkway Brooklyn Center, MN 55430 Attn: IN WITNESS WHEREOF, the parties have executed this Agreement as of the date written above. SELLER Greater Metropolitan Housing Corporation, a Minnesota nonprofit corporation By: Carolyn E. Olson Its: President BUYER Economic Development Authority of Brooklyn Center, a public body corporate and politic under the laws of the State of Minnesota By: Its: By: Its: LEAD PAINT ADDENDUM FOR HOUSING CONSTRUCTED BEFORE 1978 TO PURCHASE AGREEMENT BETWEEN GREATER METROPOLITAN HOUSING CORPORATION, AS SELLER AND ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER, AS BUYER LEAD WARNING STATEMENT Every purchaser of any interest in residential real property on which a residential dwelling was built before 1978 is notified that such property may present exposure to lead from lead -based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead -based paint hazards from risk assessments or inspections in the seller's possession and notify the buyer of any known lead - based paint hazards. A risk assessment or inspection for possible lead -based paint hazards is recommended before purchase. SELLER'S DISCLOSURE 1. Presence of lead -based paint and/or lead -based paint hazards (check items a or b below): a. ❑ Known lead -based paint and/or lead -based paint hazards are present in the housing. If checked, the following explanation is provided: b. ® Seller has no knowledge of lead -based paint and/or lead -based paint hazards in the housing. 2. Records and reports available to Seller (check item a or b below): a. ❑ Seller has provided Buyer with all available records and reports pertaining to lead -based paint and/or lead -based paint hazards in the housing. If checked, the following documents were provided: b. ® Seller has no reports or records pertaining to lead -based paint and/or lead -based paint hazards in the housing. BUYER'S ACKNOWLEDGMENT 1. Buyer has read the Lead Warning Statement above and understands its contents, and has received copies of all information listed above. 2. Buyer has received the pamphlet Protect Your Family from Lead in Your Home. 3. Buyer has either (check one of the boxes below): i ❑ received a 10 -day opportunity (or mutually agreed -upon period) to conduct a risk assessment or inspection for the presence of lead -based paint and/or lead -based paint hazards; or ❑ waived the opportunity to conduct a risk assessment or inspection for the presence of lead -based paint and/or lead -based paint hazards. AGENT'S ACKNOWLEDGMENT BY AGENT'S EXECUTION BELOW, AGENT ACKNOWLEDGES THAT: Agent has informed Seller of Seller's obligations under 42 U.S.C. §4852d and is aware of his or 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 information they have provided is true and accurate. SELLER: BUYER: GREATER METROPOLITAN ECONOMIC DEVELOPMENT HOUSING CORPORATION AUTHORITY OF BROOKLYN CENTER By: By: Carolyn E. Olson Its: President Its: Listing broker /agent date Selling broker /agent date I I