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Resolution 01-EDA-154 Page 3 RESOLUTION NO. 01-EDA-154 MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION ACCEPTING THE OFFER FROM___________________ IN THE AMOUNT OF _________ TO PURCHASE AND RENOVATE THE PROPERTY LOCATED AT 2091 HILLVIEW ROAD IN ACCORDANCE WITH THE PURCHASE AND RENOVATION REQUEST FOR PROPOSALS ISSUED NOVEMBER 14, 2001. It is hereby resolved by the Board of Commissioners (the “Board”) of the Mounds View Economic Development Authority (the “Authority”) as follows: WHEREAS, the EDA acquired real property located at 2091 Hillview Road (the “Property”) from the Department of Housing and Urban Development on September 4, 2001; and, WHEREAS, staff presented the EDA with options regarding the property, recommending that the property be sold to an experienced residential renovation specialist by soliciting proposals through a detailed Request for Proposals (RFP); and, WHEREAS, on November 14, 2001, the RFP was delivered to a list of interested parties and firms with distressed-property renovation experience with a return deadline of 4:00 pm, December 5, 2001; and, WHEREAS, by 4:00 pm, December 5, 2001, ten proposals were received for consideration from renovation specialists of varying degrees of experience; and, WHEREAS, the offers to purchase the Property ranged from a low of $43,290 to a conditioned high of $130,000; and, WHEREAS, after careful review and taking all RFP criteria into consideration, staff has identified the top three proposals and has attached for the Board’s consideration Exhibit A, a ranked list of the three top proposals with the best of the three proposals listed first; and, WHEREAS, staff recommends that the Board direct staff to negotiate a Purchase and Redevelopment Contract (the “Contract”) with _______________ for action at the next meeting of the Economic Development Authority. NOW THEREFORE BE IT RESOLVED, that the Mounds View Economic Development Authority, finding that the proposal submitted by _______________ satisfied all requirements of the RFP and was judged best among the ten proposals received, hereby directs staff to negotiate a Purchase and Redevelopment Contract with ________________ for the purchase of and renovation of 2091 Hillview Road for the sum of $_____________, less submitted earnest money. NOW THEREFORE BE IT FURTHER RESOLVED, if, after receiving the Contract, ___________________ fails to execute said Contract within 14 days, the Board shall rescind its approval and offer the Contract to the renovation specialist identified in Exhibit A as being next on the list. NOW THEREFORE BE IT FINALLY RESOLVED, that the Mounds View Economic Development Authority hereby authorizes a Public Hearing to be held at its next meeting to authorize the sale of the Property in accordance with the requirements of Minnesota Statutes 469.105. Adopted by the Board of Commissioners of the Mounds View Economic Development Authority this 10th day of December, 2001.