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Home My WebLink About2019-12 EDARCommissioner Ryan . and moved its adoption: introduced the following resolution EDA RESOLUTION NO. 2019- Oil RESOLUTION APPROVING A PURCHASE AGREEMENT AND CONVEYANCE OF CERTAIN PROPERTY TO CENTRA HOMES LLC BE IT RESOLVED by the Board of Commissioners ("Board") of the Economic Development Authority of the City 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 Agreement (the "Contract") between the Authority and Centra Homes LLC ("Buyer"), under which, among other things, the Authority will convey the property located in the City legally described on the attached Exhibit A (the "Property") to Buyer to construct 30 single family homes on the Property. 1.03. The Authority 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. 1.04. The Authority finds and determines that conveyance of the Property to 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 housing opportunities in the City and serve as an impetus for further development. Section 2. Authority Approval; Further Proceedings. 2.01. The Board hereby approves the Contract in substantially the form presented to the Board, including conveyance of the Property to Buyer, 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 Contract 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 Contract as a whole, including without limitation execution of any documents to which the Authority is a party referenced in or attached to the Contract, and any deed or other documents necessary to convey the Property to Buyer, all as described in the Contract. une 24, 2019 Date President The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Lawrence - Anderson and upon vote being taken thereon, the following voted in favor thereof: Graves, Lawrence -Anderson, Ryan, and Elliott and the following voted against the same: None whereupon said resolution was declared duly passed and adopted.