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HomeMy WebLinkAbout2015-010 EDAR Commissioner Lin Myszkowski introduced the following resolution and moved its adoption: EDA RESOLUTION NO. 2015-10 RESOLUTION APPROVING PURCHASE AND REDEVELOPMENT AGREEMENT AND CONVEYANCE OF CERTAIN PROPERTY LOCATED AT 5905 CAMDEN AVENUE NORTH 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 is authorized pursuant to Minnesota Statutes, Sections 469.090 to 469.1081 (the "EDA Act"), 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 of Brooklyn Center, Minnesota (the "City"), the Authority proposes to enter into a Purchase and Redevelopment Agreement (the "Contract") between the Authority and Novak-Fleck Incorporated (the "Buyer"), under which, among other things,the Authority will convey the property located in the City at 5905 Camden Avenue North and legally described as: Lot 8, Block 2, Camden Acres, according to the recorded plat thereof, Hennepin County,Minnesota. [Abstract] (the "Property") to the Buyer to construct a new single family dwelling on the Property, intended for sale to an individual or family for residential occupancy. 1.03. The Authority has on this date conducted a duly noticed public hearing regarding the sale of the Property to Buyer, at which all interested persons were given an opportunity to be heard. 1.04. The Authority finds and determines that conveyance of the Property to the Buyer 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 housing opportunities in the City and serve as an impetus for further development. Section 2. AuthorityApproval;Further Proceedings. 2.01. The Board hereby approves the Contract in substantially the form presented to the Board, including conveyance of the Property to Buyer, 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. 2015-10 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 Property to Buyer,all as described in the Contract. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority in and for the City of Brooklyn Center that the Authority approves resolution approving purchase and redevelopment agreement and conveyance of certain property located at 5905 Camden Avenue North. June 22. 2015 Date President n A— The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Kris Lawrence-Anderson and upon vote being taken thereon,the following voted in favor thereof ApMEGraves, 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.