HomeMy WebLinkAboutResolution 97-EDA74
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RESOLUTION NO. 97-EDA74
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION APPROVING AND AUTHORIZING A PURCHASE AGREEMENT WITH
MERIDIAN PROPERTIES REAL ESTATE DEVELOPMENT LIMITED PARTNERSHIP
FOR THE SALE OF 2625 HIGHWAY 10
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) Pursuant to Minnesota Statues, Sections 469.124 to 469.134 and 469.090
to 469.108 (collectively, the "Act")
(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 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 of the Project Plan
(f) The Authority acquired approximately .68 acres ofland located at 2625
Highway 10 (the "Property") per Resolution No. 95-EDA34 per the
objectives stated above.
(g) Meridian Properties Real Estate Development Limited Partnership (the
"Developer") is offering to purchase the Property from the EDA for an
amount of$125,000 of which terms of the sale are outlined in the attached
purchase agreement (the "Agreement).
2. The Board hereby determines that the Authority's execution of the Agreement and
subsequent sale 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.
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EDA RESOLUTION NO. 97-EDA74
P AGE TWO OF TWO
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
sale of the Property, with the assurances that the contingencies are met prior to closing.
4. The Board hereby determines that the execution and performance of the
Agreement will help realize the public purposes of the Act and are in furtherance of the Project
Plan.
Adopted by the Board of Commissioners of the Mounds View Economic Development
Authority on October 13, 1997.
BY:
ATTEST:
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Cathy Be tt, Executive Director