HomeMy WebLinkAbout2018-003 EDARCommissioner Kris LAwrence-Anderson introduced the following
resolution and moved its adoption:
EDA RESOLUTION NO. 2018-03
RESOLUTION APPROVING THE PURCHASE AND SALE AGREEMENT
AND ACQUISTION OF CERTAIN PROPERTY LOCATED AT: 5915 JOHN
MARTIN DRIVE, BROOKLYN CENTER, MN
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 Sale Agreement (the
"Agreement") between the Authority and Eretz, LLC (the "Seller"), under which, among other
things, the Seller will convey the property located in the City at: 5915 John Martin Drive, situated in
the State of Minnesota, County of Hennepin, and which is legally described as follows:
Tract 0, Registered Land Survey No. 1325, County of Hennepin, State of Minnesota, (the
"Property") to the Authority.
1.03. The Authority finds and determines that the acquisition of the Property is in the
public interest and will further the objectives of its general plan of economic development.
Section 2. Authority Approval; Further Proceedings.
2.01. The Board hereby approves the Agreement in substantially the form presented to the
Board, including the acquisition of the Property by the Authority, 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 Agreement by those officials shall be conclusive evidence
of their approval.
2.02. Authority staff and officials are authorized to take all actions necessary to perform
the Authority's obligations under the Agreement as a whole, including without limitation execution
of any documents to which the Authority is a party referenced in or attached to the Agreement, and
other documents necessary to convey the Property to the Authority, all as described in the
Agreement.
RESOLUTION NO. 2018-03
January 22, 2018
Date President
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner
MArquita Butler
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.
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