Resolution 97-EDA88 - Laserfiche WebLink

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.: . . e e e RESOLUTION NO. <61, MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION AUTHORIZING AMENDMENT OF PURCHASE AND REDEVELOPMENT AGREEMENT WITH PREFERRED BUILDERS, INC. WHEREAS, the Mounds View Economic Development Authority, Mounds View, Minnesota ("Authority") is a public body corporate and politic organized and operating under Minnesota law, as amended, and is authorized to sell real estate in the manner provided by law; and WHEREAS, the Authority previously entered into a Purchase and Redevelopment Agreement dated November 24, 1997 (the "Agreement") to sell the real estate described in Exhibit A attached hereto ("Property") to Preferred Builders, Inc. (the "Developer") for the purpose of promoting the health, safety and welfare of the residents of the City of Mounds View, Minnesota ("City"); and WHEREAS, the closing on the Property previously occurred on January 29, 1998; and WHEREAS, discrepancies in the legal description and certain easements concerning the Property require modification to fulfill the terms of the Agreement. NOW, THEREFORE, BE IT RESOLVED by the Commissioners of the Mounds View Economic Development Authority as follows: 1. The Purchase and Redevelopment Agreement is hereby amended by the Amendment to Purchase and Redevelopment Agreement in the form as attached hereto as Exhibit A, and the modifications and documents contained therein. 2. Authority staff are hereby authorized and directed to take all necessary steps to finalize conveyance of the Property to Preferred Builders, Inc. pursuant to the aforementioned Purchase and Redevelopment Agreement, as anlended, including, without limitation. the preparation and execution of all appropriate documents. SJR141467 MU205-9