HomeMy WebLinkAbout2011-016 EDAR Commissioner Tim Rae-he introduced the following resolution and
moved its adoption:
EDA RESOLUTION NO. 2011 -16
RESOLUTION APPROVING PURCHASE AGREEMENT WITH AND
CONVEYANCE OF CERTAIN PROPERTY TO SHINGLE CREEK, LLC
BE IT RESOLVED by the Board of Commissioners (`Board ") of the Economic
Development Authority of Brooklyn Center, Minnesota ( "Authority ") as follows:
Section 1. Recitals
1.01. The Authority was heretofore established by the City of Brooklyn Center, Minnesota
(the "City ") pursuant to Minnesota Statutes, Sections 469.090 to 469.1081 (the `EDA Act "), and is
authorized to acquire and convey real property and to undertake certain activities to facilitate the
development of real property by private enterprise.
1.02. To facilitate development of certain property in the City, the Authority proposes to
enter into a Purchase Agreement (the "Contract ") between the Authority and Shingle Creek, LLC
(the "Developer "), under which, among other things, the Authority will convey certain property
legally described as Lot 1, Block 2, SHINGLE CREEK CROSSING, Hennepin County, Minnesota,
according to the recorded plat thereof, formerly described as Tract A Registered Land Survey
Number 1430, Hennepin County, Minnesota, (the "Development Property") to Developer for
construction of an at least 8,000 square foot commercial or retail facility or an at least 4,000 square
foot dine -in restaurant project consistent with the Planned Unit Development for the Development
Property.
1.03. The Authority has on this date conducted a duly noticed public hearing regarding the
sale of the Development Property to Developer, at which all interested persons were give an
opportunity to be heard.
1.04. The Authority finds and determines that conveyance of the Development Property to
the Developer is in the public interest and will further the objectives of its general plan of economic
development, because it will provide an opportunity for increased employment opportunities in the
City and serve as an impetus for further development.
Section 2. AuthorityApproval-, Further Proceedings
2.01. The Board hereby approves the Contract in substantially the form presented to the
Board, including conveyance of the Development Property to Developer, subject to modifications
that do not alter the substance of the transaction and that are approved by the President and
Executive Director, provided that execution of the Contract by those officials shall be conclusive
evidence of their approval.
EDA RESOLUTION NO. 2011 -16
2.02. Authority staff and officials are authorized to take all actions necessary to perform
the Authority's obligations under the Contract as a whole, including without limitation execution of
any documents to which the Authority is a party referenced in or attached to the Contract, and any
deed, mortgage or other documents necessary to convey the Development Property to Developer, all
as described in the Contract.
June 27 2011
Cam/
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 following voted in favor thereof:
Tim Willson, Carol Kleven, Kay Lasman, Tim Roche, and Dan Ryan;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.