HomeMy WebLinkAbout2012-011 EDAR Commissioner Kay Lasman introduced the following resolution
and moved its adoption:
EDA RESOLUTION NO. 2012-11
RESOLUTION APPROVING PURCHASE AGREEMENT AND
CONVEYANCE OF CERTAIN PROPERTY TO REAL ESTATE RECYCLING.
(MNDOT EXCESS R.O.W.)
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 Real
Estate Recycling or an affiliate (the "Developer"), under which, among other things, the Authority
will convey certain property located in the City at the southwest quadrant of France Avenue and
Highway 100 (the "Development Property") to the Developer for use as parking to support an
approximately 90,000 square foot office and warehouse facility. The Development Property was
formerly part of the Denny's site at 3901 Lakebreeze Avenue and is MNDOT excess right of way
from the Highway 100 improvement project which abuts 4001 Lakebreeze Avenue on the east lot
line.
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
given 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.Authority Approval;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. 2012-11
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 parry 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.
July 9. 2012
Date President
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner
Lin Myszkowski
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Carol Kleven, Kay Lasman, and Lin Myszkowski;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.