HomeMy WebLinkAbout2020-12 EDARPresident Elliott introduced the following resolution and moved its adoption:
EDA RESOLUTION NO. 2020-012
RESOLUTION APPROVING A PURCHASE AGREEMENT AND
CONVEYANCE OF CERTAIN PROPERTY TO C ALAN HOMES LLC
BE IT RESOLVED by the Board of Commissioners ("Board") of the Economic
Development Authority of the City of Brooldyn Center, Minnesota ("Authority") as follows:
Section 1. Recitals.
1.01. The Authority is authorized pursuant to Minnesota Statutes, Sections 469.090 to
169.1081 (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. On June 8, 2020, the Authority entered into that certain Preliminary Development
Agreement with C Alan Homes LLC ("C Alan Homes") to allow C Alan Homes to explore the
possibility of acquiring the property owned by the Authority that is legally described on the attached
Exhibit A (the "Property") for development of 13 triplex housing units (the "Preliminary
Development Agreement").
1.03. To facilitate development of the Property in accordance with the Preliminary
Development Agreement, the Authority proposes to enter into a Purchase Agreement (the "Contract")
between the Authority and C Alan Homes under which, among other things, the Authority will convey
the Property to Coalition.
1.04. The Authority has on this date conducted a duly noticed public hearing regarding the
sale of the Property to Coalition, at which all interested persons were given an opportunity to be heard.
1.05. The Authority finds and determines that conveyance of the Property to Coalition 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.
1.06. In addition, the term of the Preliminary Development Agreement expires on
December 31, 2020.
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 C Alan Homes, subject to modifications that do not
alter the substance of the transaction and the approval of the Authority's Attorney.
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
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EDA RESOLUTION NO, 2020-012
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 C Alan Homes, all as described in the
Contract.
President
The motion for the adoption of the foregoing resolution was duly seconded by Conunissioner
Graves
and upon vote being taken thereon, the following voted in favor thereof:
Butler, Elliott, Graves, Lawrence -Anderson, Ryan
and the following voted against the same: None
whereupon said resolution was declared duly passed and adopted.
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EDA RESOLUTION NO. 202M12
EXHIBIT A
Legal Description of the Property
Lots 1-7, Block 1, Robertson and Brekke's Brooklyn Boulevard First Addition and Lots 1-6, Block 1,
Robertson and Brekke's Brooklyn Boulevard Second Addition, according to the recorded plats thereof,
County of Hennepin, State of Minnesota
Dispersed
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