Loading...
HomeMy WebLinkAbout2016-021 EDARCommissioner Dan Ryan introduced the following resolution and moved its adoption: EDA RESOLUTION NO. 2016-21 RESOLUTION APPROVING CONVEYANCE OF CERTAIN PROPERTY LOCATED AT 6250 EARLE BROWN DRIVE WHEREAS, the Economic Development Authority of the City of Brooklyn Center, Minnesota ("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 Contract for Private Development (the "Agreement") between the EDA and Brooklyn Center Hotel Group, 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 6250 Earle Brown Drive and legally described as: Lot 2, Block 1, Brooklyn Farm 2nd Addition, Hennepin County, Minnesota (the "Property") to the Buyer to construct a hotel facility containing at least 82 rooms with 85 parking stalls; 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 increase the tax base in the City and serve as an impetus for further development. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Economic Development Authority of Brooklyn Center, Minnesota ("Board") as follows: The Board hereby approves the conveyance of the Property to Buyer pursuant to the 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 Agreement as a whole, including without limitation execution of any documents to which the EDA is a party referenced in or attached to the Agreement, and any deed, mortgage or other documents necessary to convey the Property to Buyer, all as described in the Agreement. This resolution supplements but does not amend EDA Resolution No. 2016-14, adopted May 23, 2016 regarding approval of the Agreement. EDA RESOLUTION NO. 2016-21 September 26, 2016 Date President ATTEST: /t\ Seci The motion for the adoption of the foregoing resolution was duly seconded by member 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.