HomeMy WebLinkAbout2016-006 EDARCommissioner Kris Lawrence-AndersonintrOdUCed the following resolution
and moved its adoption:
EDA RESOLUTION NO.2016-06
RESOLUTION AUTHORIZING PREPARATION OF A FINAL
DEVELOPMENT AGREEMENT RELATED TO THE DEVELOPMENT OF
THE OPPORTUNITY SITE
WHEREAS, the Economic Development Authority of Brooklyn Center,
Minnesota ("EDA") is working, in accordance with the strategic plan for the City of Brooklyn
Center, to redevelop the former Brookdale Square and Brookdale Ford sites, which are now
owned by the EDA (the "Opportunity Site"); and
WHEREAS, the EDA is overseeing the development of the Opportunity Site
and Sand Development, LLC, 366 South Tenth Avenue, Waite Park, Minnesota 56387
("Redeveloper") is proposing to redevelop the southern portion of the Opportunity Site; and
WHEREAS, at its October 12, 2015, meeting, the EDA adopted Resolution No.
2015-22 authorized entering into a Preliminary Development Agreement with the Redeveloper to
set out certain responsibilities related to developing preliminary plans and determining feasibility
for redeveloping the Opportunity Site and authorized hiring Solution Blue, Inc., 318 Cedar
Street, St. Paul, MN 55101 to conduct the work to be performed by the EDA under the
Preliminary Development Agreement; and
WHEREAS, the parties have substantially completed their work under the
Preliminary Development Agreement and a concept and vision for the phased development of a
market rate apartment development ("Apartment Development") within the southern portion of
the Opportunity Site was presented to the EDA at its January 25, 2016 work session; and
WHEREAS, the proposed Apartment Development meets the City of Brooklyn
Center's vision for redevelopment of the Opportunity Site and the next step in the process is for
the parties to negotiate and enter into a Final Development Agreement to facilitate construction
of the Apartment Development; and
WHEREAS, the understandings of the parties regarding the development that
would be addressed in the Final Development Agreement include the following:
a.Duration of the contract;
b.Terms and price of the land acquisition costs;
c.Plans and schedule of site preparation improvements to be completed by the
EDA;
d.Plans and schedule for the public improvements to be completed by the EDA;
e. Schedule for the conveyance of buildable lots and the Redeveloper's schedule
for construction of the private improvements and residential portion of the
planned unit development;
EDA RESOLUTION NO. 2016-06
f.Affordability requirements;
g.City review and approval rights (environmental assessment worksheet,
residential planned unit development, platting, and site plans); and
h. Other financial assistance that may be required to complete the improvements.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority of Brooklyn Center, Minnesota as follows:
1.The EDA hereby authorizes the preparation of a Final Development
Agreement with the Redeveloper concerning the Apartment Development
within the Opportunity Site that reflects the general terms and understandings
contained within this Resolution.
2.The negotiated Final Development Agreement must be submitted to the EDA
for review and final approval.
/
February 8, 2016
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.