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HomeMy WebLinkAbout2011-026 EDAR Commissioner Kay Lasman introduced the following resolution and moved its adoption: EDA RESOLUTION NO. 2011 -26 RESOLUTION AUTHORIZING THE ACQUISITION OF PROPERTY TO FACILITATE NEIGHBORHOOD IMPROVEMENTS AND REDEVELOPMENT OPPORTUNITIES WITHIN THE BROOKLYN BOULEVARD CORRIDOR (5455 BROOKLYN BOULEVARD) WHEREAS, on March 24, 2008, the EDA adopted Resolution No. 2008 -05 which modified the Tax Increment District 3 Financing Plan to include the following budget items to the $5,000,000 Housing Development Account (Affordable Housing). - Acquisition of Single Family and Multi - Family Housing, - Rehabilitation of Single and Multi- Family Housing, - Environmental Remediation of Single and Multi- family Housing properties, and - A contingency line item of $1,000,000 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, pursuant to EDA Resolution 2009 -02, 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, the EDA has determined the real property located at 5455 Brooklyn Boulevard Avenue in Brooklyn Center meets the requirements for acquisition under the EDA's Remove and Rebuild Program; and WHEREAS, the real property located at 5455 Brooklyn Boulevard. (the "Subject Property ") is a voluntary sale by the property owner; and WHEREAS, City staff have negotiated a purchase agreement for the purchase by the EDA of the Subject Property in an amount of $98,000; 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 Brooklyn Boulevard Streetscape Amenities Study, the City's Comprehensive Plans, the Tax Increment District No. 3 Housing 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: EDA RESOLUTION NO. 2011 -26 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. 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 Keven, Kay Lasman, and Dan Ryan; and the following voted against the same: none; whereupon said resolution was declared duly passed and adopted.