HomeMy WebLinkAboutResolution 96-EDA55
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MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 96-EDA55
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION APPROVING AND AUTHORIZING THE ACQUISITION OF 2975
HIGHW A Y 10 FOR REDEVELOPMENT PURPOSES AND THE EXECUTION OF A
PURCHASE AGREEMENT FOR THAT PURCHASE
It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View
Economic Development Authority (the "Authority") as follows:
1. RECITALS:
(a) the Authority has the powers provided in Minnesota Statutes, Sections 469.124 to
469.124 and 469.090 to 469.108 (collectively the "AcC).
(b) Pursuant to and in furtherance of the objectives of the Act, the Authority has
undertaken a program to promote development and redevelopment of certain land within
the City of Mounds View and in this connection is engaged in carrying out the Mounds
View Economic Development Project (the "Project") within the City.
(c) There has been approved pursuant to the Act a Project Plan for the Project.
(d) The redevelopment and development of property within the Project by private
developers are stated objectives ofthc Project Plan.
(e) In order to achieve the objectives of the Project Plan, the Authority has determined to
provide substantial aid and assistance through the financing of certain public costs of
development.
(t) The Authority desires to acquire the approximately .63 acres ofland located in the
City at 2975 Highway 10 (the "Property"), bounded generally be Highway 10 and Spring
Lake Road, and it has been proposed that the Authority enter into a purchase agreement
(the "Agreement") with the owners of that property for that acquisition presently
estimated at a cost of$106,000.
(g) The Authority authorizes an expenditure no greater than 3% of the purchase price to
be used for closing costs.
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EDA RESOLUTION NO. 96-EDA55
P AGE TWO OF TWO
2. The Board hereby determines that the Authority's execution of the Agreement and the
subsequent acquisition of the Property would be in furtherance of the Project Plan and hereby
approves and authorizes said actions, including the execution of the Agreement by the officers of
the Authority in their discretion and at such time, if any, as they may deem appropriate..
3. Upon execution and delivery of the Agreement, the officers and employees of the
Authority (including members of the City staff, acting in their capacity as staff to the Authority
as well) are hereby authorized and directed to take or cause to be taken such actions as may be
appropriate or necessary on behalf of the Authority to implement the Agreement, including the
acquisition of the Property, which is being accomplished for redevelopment purposes.
4. The Board hereby determines that the execution and performance of the Agreement and the
acquisition of the Property will help realize the public purposes of the Act and are in furtherance
of the Plan.
Adopted by the Board of Commissioners of the Mounds View Economic Development Authority
on November 12, 1996.
ATTEST:
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/ President .
(SEAL)
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Executive DIrector
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Executive Director's Certificate
I, the lmdersigned, being the duly qualified and acting Executive Director of the Mounds
View Economic Development Authority, do hereby certify that I have carefully compared the
attached and foregoing resolution adopted at a regular meeting of the Board of Commissioners of
said Authority duly called and regularly held on the date herein indicated with the original thereof
on tile in my office and I further certify the same is a full, true, and correct copy thereot~ insofar as
the same relates to the approval of a certain Purchase Agreement respecting redevelopment property
located at 2975 Highway 10.
I further certify that Boardmember ~ moved the adoption of said
resolution, that Boardmember 6'~CLA....-CI seconded said motion, and that upon a vote
being taken thereon, the following B?ardmembers voted in favor thereof:
Q LA L cL I /VL-t.J..L L, n-Ic....c
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and the following Boardmembers voted against the same:
yVovl e..
whereupon said resolution was declared duly passed and adopted.
WITNESS my hand as such Executive Director of said Authority the fa-. day of (tJO V
,1996.
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/ E ecutive Director
Mounds View Economic
Development Authority