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HomeMy WebLinkAbout2017-008 EDARCommissioner April Graves introduced the following resolution and moved its adoption: EDA RESOLUTION NO. 2017-08 RESOLUTION APPROVING CONVEYANCE OF CERTAIN PROPERTY LOCATED AT 6330 CAMDEN AVENUE NORTH 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 will be entering into a land exchange agreement (the "Agreement") between the EDA and Topgolf USA Brooklyn Center, LLC (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 6330 Camden Avenue North and legally described as Lot 2, Block 1, Regal Road Development Addition, Hennepin County, Minnesota (the "Property") to the Buyer to facilitate the construction of a Topgolf facility; and WHEREAS, in exchange for the conveyance of the Property, the Buyer will convey a portion of the property located at 6420 Camden Avenue North to the EDA as provided in the Agreement; 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. The Board also hereby approves and authorizes EDA staff and officials to execute the Termination and Release of Declaration of Covenants and Restrictions, the Termination and Release of Subdivision Agreement - Regal Theaters, the Second Amendment to Agreement for Maintenance and RESOLUTION NO. 2017-08 Inspection of Utility and Storm Drainage System, and the Second Amendment to Storm Water Easement and Maintenance Agreement, all of which relate to the Property and are necessary to effectuate the conveyance of the Property to Buyer. 3. 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, and for the EDA to acquire the portion of property being conveyed from the Buyer to the EDA, all as described in the Agreement. July 24, 2017 :7 Date President The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Dan Ryan and upon vote being taken thereon, the following voted in favor thereof: Tim Willson, Marquita Butler, April Graves, Kris Lawrence-Anderson, Dan Ryan and the following voted against the same: whereupon said resolution was declared duly passed and adopted.