HomeMy WebLinkAbout2020-08 EDARCormnissioner Ryan introduced the following resolution and moved its adoption:
EDA RESOLUTION N0.2020-08
RESOLUTION APPROVING THE PURCHASE AGREEMENT AND ACQUISTION OF
CERTAIN PROPERTY LOCATED AT: 7015 KYLE AVENUE NORTH, BROOKLYN
CENTER, MN 55429
BE IT RESOLVED by the Board of Commissioners ("Board") of the Economic
Development Authority of Brool�lyn 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 "Agreement")
between the Author7ty and Marcella Hagen (the "Seller"), under which, among other things, the Seller
will convey the property located in the City at: 7015 Kyle Avenue North, situated in the State of
Minnesota, County of Hennepin, and which is legally described as follows:
SEE ATTACHED EXHIBIT A
(the "Property").
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 foi�rn 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
Authoi7ty's obligations under the Agreement as a whole, including without limitation execution of
any documents to which the Autholity 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.
640584v3BR305-161
11, 2020
Date
President
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner
Graves
and upon vote being taken thereon, the following voted in favor thereof:
Butler, Elliott, Graves, and Ryan
and the following voted against the same:
None
whereupon said resolution was declared duly passed and adopted.
640584v3BR305-161 2
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Legal Description of the Property
That part of the South 214.70 feet of the North 259.5 feet of Lot 5 Auditor's Subdivision No. 57
Hennepin County, Minnesota, as described as follows:
Commencing at a point in the South line of said lot 5, a distance of 185.0 feet East of the intersection
of the South line of said Lot 5 with the Northeasterly right of way line of State Trunk Highway #152;
then North 0 degrees 33 minutes 30 seconds West (said bearing is assumed) along a line parallel with
the East Line of said Lot 5 a distance of 131.0 feet more or less to the south line of the said North
259.5 feet and also being the actual point of beginning of the tract to be described; thence continuing
North 0 degrees 33 minutes 33 seconds West along the extension of the last described line for a
distance of 142 feet; thence Northwesterly along a tangential curve to the left with a radius of 175.7
feet for a distance of 75.12 feet more or less to the North line of the said South 214.7 feet; said point
being 420.76 feet East of the said Northeasterly right of way line as measured along the North line of
said South214.7 feet; thence West 0 degrees 00 minutes along the last described North line for a
distance of 75.53 feet more or less to its intersection with a line which is 130.0 feet West of and
parallel with aforesaid line that had a bearing of North 0 degrees 33 minutes 30 seconds West; thence
South 0 degrees 33 minutes 30 seconds East a distance of 141.0 feet more or less to the South line of
said North 259.5 feet; thence East to the actual point of beginning, and including an easement for
driveway purposes as describe din that certain deed recorded in Book 2455 of Deeds on page 583, in
the office of the Register of Deeds in and for the County of Hennepin, State of Minnesota.
640584v3BR305-161 3