HomeMy WebLinkAbout2011-022 EDAR Commissioner Kay Lasman introduced the following resolution and
moved its adoption:
EDA RESOLUTION NO. 011 -22
RESOLUTION APPROVING THE TERMINIATION OF THE CEMENT
POND /FOUNTAIN EASEMENT AND PROVIDING FOR THE
ACCEPTANCE OF A NEW TRAIL EASEMENT (EDA - WINGS
FINANCIAL, 6160 SUMMIT DRIVE)
WHEREAS, on November 30, 2000, an agreement entitled, Encroachment and
Maintenance of Cement Pond, was executed between ReliaStar Life Insurance Company, its
successors and assigns (ReliaStar) and Brookdale Associates Limited Partnership, its successors
and assigns ( Brookdale); and
WHEREAS, said agreement provided for the creation of easements for the
cement pond/fountain that had been constructed on the common lot line between the properties
of Brookdale and ReliaStar, and assigned responsibility for maintenance of the pond; and
WHEREAS, on December 15, 2000, ReliaStar sold its parcel to the EDA; and
WHEREAS, on July 1, 2003, City /Co Federal Credit Union became the owner
of the Brookdale parcel and the responsible party for the ',maintenance of the cement
pond /fountain; and
WHEREAS, in January of 2008, the EDA conveyed a portion of the ReliaStar
parcel for the construction of the Embassy Suite Hotel (Phase I) and retained the southerly 2
acres (Phase II), which contains a majority of the pond and 50 %' of the cement pond /fountain;
and
WHEREAS, in 2010, Wings Financial became the new owner of the Brookdale
Parcel and the responsible party for the maintenance of the cement pond /fountain; and
WHEREAS, Wings Financial has assessed the condition of the pond /fountain,
and determined that repair costs are estimated at $45,000 and replacement costs are estimated at
$90,000 and has further determined that the most economical solution would be to terminate the
agreement and demolish the cement pond /fountain; and
WHEREAS, on July 27, 2011, the EDA reviewed the November 30, 2000
Encroachment and Maintenance of Cement Pond and determined that it would in the interest of
the public to invest public funds in the reconstruction of the trail, a lighted fountain in the pond,
and trail lighting in lieu of EDA investment into either the repair or replacement of the cement
pond /fountain; and
EDA RESOLUTION NO. 2011 -22
WHEREAS, Wings Financial has proposed agreements for the demolition and
removal of the fountain, the termination of the existing easement and creation of a new trail
easement, which agreements have been considered by the EDA and determined to be reasonable,
prudent and in the interest of the public.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Brooklyn Center as follows:
1. That the EDA President and Executive Director with the assistance of the EDA's legal counsel
are hereby authorized to execute the following:
a) DEMOLITION AND REMOVAL OF FOUNTAIN AGREEMENT,
b) TERMINATION AND RELEASE OF EASMENT, and
c) TRAIL EASMENT.
and to take all such steps as are necessary to effect the terms of such agreements.
October 10 2011
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, and Dan Ryan;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.