Laserfiche WebLink
DRAFT 4.5.2022 <br />PURCHASE AND DEVELOPMENT AGREEMENT <br />This Purchase and Development Agreement (the "Agreement") is made and entered into this <br />day of , 2022, by and between Mounds View Economic Development Authority, <br />a public body corporate and politic under the laws of Minnesota, having its principal office at 2401 <br />Mounds View Boulevard, Mounds View, Minnesota 55112 (the "Authority") and Sabry Sharara [or <br />his corporate entity], <br />its principal office at _ <br />WITNESSETH: <br />(the "Developer") <br />having <br />WHEREAS, the Authority owns certain real property legally described in Exhibit A attached <br />hereto (the "Property); and <br />WHEREAS, the Developer has identified the Property as a desired location to develop a <br />commercial development, including a dental office (the "Project"); and <br />WHEREAS, the Developer is required to also enter into this Agreement, outlining the <br />terms and conditions of the Developer's acquisition of the Property from the Authority and the <br />platting thereof; and <br />WHEREAS, in accordance with the terms and conditions of this Agreement, the Property <br />shall be conveyed by the Authority pursuant to Minnesota Statutes, section 469.105 for the Project; <br />and <br />WHEREAS, the conveyance of the Property by the Authority to the Developer shall be <br />subject to the following terms and conditions: <br />a. The Property sales price is $60,000.00; and <br />b. The Developer's full compliance with the terms and conditions of this Agreement. <br />WHEREAS, the Authority believes that the conveyance and development of the Property and <br />the fulfillment generally of the Agreement are in the vital and best interests of the City of Mounds <br />View (the "City") and the health, safety, morals, and welfare of its residents, and in accord with the <br />public purposes and provisions of the applicable state and local laws and requirements. <br />DOCSOPEN\MU205\53\788760.v5-4/5/22 <br />