HomeMy WebLinkAbout2013-017 EDAR Commissioner Lin Myszkowski introduced the following resolution
and moved its adoption:
EDA RESOLUTION NO. 2013-17
RESOLUTION AUTHORIZING THE ACQUISITION OF LOT 1, BLOCK 1,
BROOKDALE SQUARE 2ND ADDITION TO FACILITATE REDEVELOPMENT
OPPORTUNITES WITHIN THE OPPORTUNITY SITE(BROOKDALE SQUARE
SHOPPING CENTER)
WHEREAS, the Brooklyn Center Economic Development Authority,Minnesota,
has hereto established Housing Development and Redevelopment Project No 1 and has established
Tax Increment Financing District No. 3, and has adopted a Tax Increment Financing Plan which
includes the following objectives:
- To enhance the tax base of the City,
- To provide maximum opportunity, consistent with the needs of the City for development
by private enterprise,
- To better utilize vacant or underdeveloped land,
- To attract new businesses,
- To acquire blighted or deteriorated residential property for rehabilitation or clearance and
redevelopment,
- To develop housing opportunities for market segments underserved by the City including
housing for the disabled and elderly; and
WHEREAS, the subject property,Lot 1,Block 1,Brookdale Square 2nd Addition is
a 23.2 acre C-2 commercially zoned lot within the City's Central Commerce District that includes
the 185,885 sq.ft. Brookdale Square Strip Center anchored by Pep Boys and 3 out parcels (Ocean
Buffet,Brookdale 8 Theater, and the Miracle Empowerment Center); and
WHEREAS, the Brookdale Square Shopping Center has experienced significant
vacancies and in its current condition has a blighting influence on the redevelopment activities
within the City's Central C ommerc e District; and
WHEREAS, the redevelopment of this area was part of the Metropolitan Council's
Calthorpe Study in 2002 and the City's Opportunity Site Study in 2004 which identified the potential
redevelopment of this area for a mixed use planned unit development; and
WHEREAS, the property owner, Brixmor Stn Holdings Llc has retained the real
estate services of CBRE to market the site; and
WHEREAS,Brixmor Stn Holdings,LLC has agreed to sell the subject property to the
EDA for the amount of$3,900,000.
EDA RESOLUTION NO. 2013-17
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 Executive Director 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.
November 12,2013
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, Kris Lawrence-Anderson, Lin Myszkowski, and Dan Ryan;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.