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HomeMy WebLinkAbout2016-011 EDARCommissioner Dan Ryafi introduced the following resolution and moved its adoption: EDA RESOLUTION NO. 2016-11 RESOLUTION APPROVING CONVEYANCE OF CERTAIN PROPERTY LOCATED AT 6121 BROOKLYN BOULEVARD WHEREAS, the Economic Development Authority of the City of Brooklyn Center, Minnesota (the "EDA") 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; and WHEREAS, to facilitate development of certain property in the City of Brooklyn Center, Minnesota (the "City"), the EDA entered into an Agreement of Purchase and Sale (the "Purchase Agreement") between the EDA and SCA Properties, LLC (or its assigns, the "Buyer"), under which, among other things, the EDA has agreed, contingent upon approval by the EDA following a duly noticed public hearing regarding the sale, to convey the property located in the City at 6121 Brooklyn Boulevard and legally described as: That part of Lot 1, Block 1, Chrysler Motors Corporation 2nd Addition lying North of the North line of Lot 23, Auditor's Subdivision No. 25, Hennepin County, Minnesota. and Lot 1, Block 1, Chrysler Motors Corporation 2nd Addition, except that part lying North of the North line of Lot 23, Auditor's Subdivision No. 25, Hennepin County, Minnesota. (the "Property") to the Buyer to construct a multi-family senior assisted living housing development on the Property, intended to be rented by seniors for individual or family occupancy; and WHEREAS, the EDA 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; and WHEREAS, the EDA 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 affordable senior housing opportunities in the City and serve as an impetus for further development. EDA RESOLUTION NO. 2016-ii NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Economic Development Authority of Brooklyn Center, Minnesota (the "Board") as follows: The Board hereby approves the conveyance of the Property to Buyer pursuant to the Purchase Agreement, subject to modifications that do not alter the substance of the transaction and that are approved by the President and Executive Director. 2. EDA staff and officials are authorized to take all actions necessary to perform the EDA's obligations under the Purchase Agreement as a whole, including without limitation execution of any documents to which the EDA is a party referenced in or attached to the Purchase Agreement, and any deed, mortgage or other documents necessary to convey the Property to Buyer, all as described in the Purchase Agreement. This resolution supplements but does not amend EDA Resolution No. 2016-04, adopted February 8, 2016 regarding the sale of the Property. April 25, 2016 Date President The motion for the adoption of the foregoing resolution was duly seconded by Commissioner April Graves and upon vote being taken thereon, the following voted in favor thereof: Tim Willson, April Graves, Lin Myszkowski, Dan Ryan and the following voted against the same: whereupon said resolution was declared duly passed and adopted.