HomeMy WebLinkAbout2014-008 EDAR Commissioner Dan Ryan introduced the following resolution
and moved its adoption:
EDA RESOLUTION NO. 2014-08
RESOLUTION AUTHORIZING THE EXECUTION OF A LETTER OF
INTENT AND EXCLUSIVE NEGOTIATING AGREEMENT WITH
RIDGECREST INVESTORS, LLC FOR THE COMMERCIAL
DEVELOPMENT OF LOT 1, BLOCK 1, NORTHBROOK CENTER 2ND
ADDITION (TOLD DEVELOPMENT—57TH AND LOGAN)
WHEREAS, Ridgecrest Investors, LLC (d/b/a Told Development Company)
have expressed an interest in the commercial development of Lot 1, Block 1,Northbrook Center
2nd Addition; and
WHEREAS, on February 24, 2014, the EDA reviewed a draft Letter of Intent
and conceptual development plans submitted by Ridgecrest Investors, LLD which illustrated 5
potential building sites with the following potential uses identified:
• A 16,000 sq. ft. anchor tenant on a 2.5 acre site (corner of 57th Ave. & Logan)with the
following uses identified: grocery/gas station/anchor retail;
• A 2,500 sq. ft. food/retail building on a 1 acre lot south of the Excel Energy transmission
tower(corner of Hwy 100& 57th Ave);
• A 2,500 sq. ft. food/retail building on an 1 acre lot north of this transmission tower
fronting on Highway 100.
• A 6,600 sq. ft. retail building on a 1.05 acre site that faces the central portion of the site
and located north of an internal access drive that aligns with the overhead transmission
easement;
• A 14,000 sq. ft. building pad on 2.4 acres within the northern portion of the site identified
as a potential hotel/office/medical use.; and
WHEREAS, the EDA finds the design of the conceptual development plans to be
consistent with the development visions for this site.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Brooklyn Center that the President of the EDA and its Executive
Director are hereby authorized to execute the Letter of Intent and Exclusive Negotiating
Agreement with Ridgecrest Investors, LLC for the Commercial Development of Lot 1, Block 1,
Northbrook Center 2nd Addition(Told Development—57th&Logan).
EDA RESOLUTION NO. 2014-08
r
April 28, 2014
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, 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.