HomeMy WebLinkAbout2015-021 EDAR Commissioner April Graves introduced the following resolution
and moved its adoption:
EDA RESOLUTION NO. 2015-21
RESOLUTION APPROVING PURCHASE AND REDEVELOPMENT
AGREEMENT AND CONVEYANCE OF CERTAIN PROPERTY LOCATED
AT 5649 BROOKLYN BOULEVARD
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 5649
Brooklyn Boulevard and legally described as:
Lot 5, Block 7, "Pearson's Northport lst Addition",according to the recorded
plat thereof,Hennepin County, Minnesota. [Torrens]
(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. Authority Approval;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.
RESOLUTION NO. 2015-21
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 party 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.
October 12, 2015 �ir����� ��
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, April Graves, Kris Lawrence-Anderson, Lin Myszkowski, Dan Ryan
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.