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HomeMy WebLinkAboutResolution 97-EDA78MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION Y0.97-EDA78 _---. ~ ~ ~ . ~ ~-.- . , COUNTY OF RAVISEY I ~akyi e ~.r-d j STATE OF MINNESOTA u~'_ ~ , .~ u,~c 1 L~~ ~ i RESOLUTION APPROVING AND AU"I'HORIZL~iG THE ACQU7SlTION OF 8005 GROVELAir'D ROAD 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 Developmem Authority (the "Authority's as follows: (a) the Atrthority has the powers provided in Minnesota Statutes, Sections 469.124 to 469.124 and 469.090 to 469.108 (collectively the "Act"). (b) Pursuant to and in fintherance ofthe 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 Developmem Project (the "Project's within the Ciry. (c) There hav 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. (ej In order to achieve the objectives of the Project Plan, the Authority hay determined to provide substantial aid and assistance through the financing of certain public costs of development. (f) The Authority desires to acquire approximately .79 acres of land located in the City at 8005 Groveland Road (the '`Property'}, and it has been proposed that the Authority emer Imo a purchase agreement and/or similar agreement(s) (collectively, the "Agreement') with the owners of that property for that acquisition and/or subsequerrt cl~rp++r° of the properly for redevelopment. (g) The Authority authorizes the acquisition of the property for 385,000 with an eependiture no greater than 3° o of the purchase price to be rued for closing costs. • EDA RESOLUTION NO. 97-EDA78 PAGE 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 staffto 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 December 15, 1997. ATTEST: (SEAL) President Executive Director Executive Director's Certificate I, the undersigned, being the duly qualified Executive Director of the Mounds View Economic • day of Executive Director Mounds View Economic Development Authority Development Authority, do hereby certify that I have carefully compared the attached and foregoing resolution adopted at a meeting of the Board of Commissioners of said Authority duly called and held on the date herein indicated with the original thereof on file in my office and I further certify the same is a full, tn.ie, and correct copy thereof, insofar as the same relates to the approval of a certain Purchase Agreement respecting redevelopment property located at 5005 Groveland Road, Mounds View, Minnesota. I further certify that Boardmember resolution, that Boardmember moved the adoption of said seconded said motion, and that upon a vote being taken thereon, the following Boardmembers voted in favor thereof and the following Boardmembers voted against the same: whereupon said resolution was declared duly passed and adopted. WITNESS my hand as such Executive Director of said Authority the 1997. PUItCH~0.SE AGREEMENT This Purchase Agreement is trade and entered into this ,r day of ,~. 1997, by and between Lloyd J. Blanchard and PhyllistBlanchard~vhusbaee aid 1~ic under the and the Mounds View Economic Developmer3t Authori a body tpora po laws of Minnesota ("Buyer"). 1. Seller has received today from the Buyer the sum of $500.00 as earnest money and in part payment for the purchase of the premises at 8005 GrovEland Road and legally descibed- as the South 1/3 of the west l/2 of Lvt 63, Auditors Subdivision no. 89, located in the City of Mounds view, Ramsey County, Minnesota ("Property"). The Property includes all plants, shields and trees, storm windows. andlor A, storm doom, screens, awnings, window shades, blinds, curtains traverse-drapery rods, attached lighting fixtures with bulbs, plumbing fixtures. water heater, heating system, hunudifier, central air conditioning, electronic air filter, water softener, cable television outlets and cabling, and built-ins, including dishwasher', garbage dispose, trash compactor, ovens}, cooktop, stove, microwave oven, hood-fin, intercom and installed carpeting located on the premises which are the property of Seller. ~'he Property also include the following personal property: None all of which S oiler has this day sold to Buyer for the sum of $85.000.00 which Buyer agrees to pay in the following manners: (a) Earnest money of $500.00 paid today; and (b) $84,500.00 cash on the date of closing. Buyer agrees that Seller may sell and remove all out-buildings located on the property prior to the date of closing. e 2. Subject to performance by the Buyer. the Seller agrees to execute and deliver a general Warr~s~ty deed conveying unencumbered and marketable title to the Property, subject only to the following exceptions: (a} building and zoning laws, local ordinances, and state and federal regulations; and (b) public utility and drainage easement which to not interfere with the intended use of the Property. 3. Real estate Taxes due and payable in the year of homes ead clabsifi ationeor (~ the day of cl~~sing. The Seller warrants that current taxes are (X} non-homestead classification. The Seller makes no representation concerning the amount of future real estate taxes. The Seller agrees to pay on the date of closing all special assessments levied or pending against the Property. inc14d5 1931throu h 435 195e payment of ~+hicl~ has been deferred pwsuant to Mtnn. Stat_ Sections g 4. The Seller warrants that buildings, if atty. arm o~ected to chty sewer and c ty of the Prvp.rty- The Seller also warrants that the premrse water. The: Parties acknowledge that the Properly is being sold in "as is" condition relating to the structural. operations, and mechanical systems. 5, if the Property is destroyed or substantially damaged by fire or any other cause before the closing this Purchase Agreement shallA come null and void at the Buyers optiotr, and the Seller shall refund all earnest money to the y 6. The Seller warrants h amt taQl P ~~~ Y~ ~bsttanc pet olcumpprodu toor asbesgos • deposit or disposal of any toxic o ;.'M`Ti348~1 «+uao5-io e!l-~ 90/Z~~~! 919-1 OlE81E£Zl9 N3Atla9 ~ A43NN3~-WC~~ WdZO~ZI 18-91-gad product during the time the Seller has owned the Property. The Setter further warrants that the Seller has no knowledge or information of any fact which would indicate the Property was used far production, storage, deposit or disposal of any toxic ar hazardous waste or substance petroleum product or asbestos product prior to the date the Seller purchased the Property. Notwithstanding the above, the Seller's warranty regazding petroleum products does not preclude the presence of heating oil ar other similar products usEd us a heating fuel for the dwelling but the Seller does Warrant that if there is a fuel tank on the Property used for the storage of heating oil or other similar product. the Seller has no knowledge of any leak in the tank or contamination caused thereby. The provisions of this pazagraph shall not merge with the deed and shall survive closing on the Property. Not withstanding the foregoing, if, on or before April 15. 1998, Seller shall, in its sole discretion, determine that, due to the condition of the heating oil tank located on the Property that the Property is not acceptable. Buyer may, upon written notice to Seller, terminate this purchase agreement in Which event all earnest money shall be refunded to Buyer and this purchase agreement shall be null and void. 7, Seller hereby grants to Buyer and Buyer s agents a license to enter the Property for the purpose of conducting an environmental assessment. The Buyer or Buyer's agent shall have the right pursuant to the license to bring persons and equipment onto the Property. make inspections and perform tests and analyses as Buyer may deem reasonable to determine the presence of a toxic or hazardous waste, substance. or petroleum product or asbestos product, and ascertain soil conditions on the Property. Buyer shall bear the cost of the environmental assessment. If the results of the etvironmental assessment are not to the satisfaction of the Buyer, the Buyer at its sole discretion may cancel this Purchase Agreement. If the Buyer cancels this Purchase Agreement pursuant to this provision, the Buyer shall restore the Property to its original condition or nearly so as is reasonably practicable_ • 8. To the best of the Seller s actual knowledge, there are two wells located an the Property, which Seller agrees to seal at Seller's expense. If the wells aze not sealed as of the Date of Closing, Buyer shall escrow X1,500.00 to cover the cost of closing the wells. To the best of the Seller's actual knowledge, there are no underground storage tanks located on the Property. There are no septic systems located nn the Property. 9. Closing shall take place on or before the 1st day of Sune, 1998, or other date as the parties may agree to in writing. Delivery of all papers and monies and the closing shall be made at the offices of the City of Mounds Vuver shall belmade to 2401 Highwany 10, Mounds hereto. All delivenes and notices to the B , View, Minnesota 55112, and shall be marked: Attention: Cathy Bennett. 10. The Seller agrees to deliver passe~sion no later than the date of closing. City water and sewer charges, electricity and natural gas charges, fuel oil and liquid petroleum gas shall be prorated between the parties as of the date of closing. The Seller agrees to remove all debris and all personal property not included herein from the Property before the possession date. personal properly not removed shall be deemed forfeited to and shall become the property of the Buyer. The Buyer may inspect the Property immediately prior to closing and deduct from the purchase price payable at closing an amount reasonably necessary to gay for the cost of provisions of this paragraph shall not merge with the dEed and shall survive closing on the Property. 11. Within 30 days after the date of this Agreement the Seller to have madrketablBe title • with an abstract of title or registered property abstract sho`N-ng uswl?deai 2 rwt,~o5-l0 8Ll-~ 50/EO'd 919-1 ~l£BlEEZl9 N3AVa9 ~ Aa3NN3~-wo~~ wdZO~ZI 18-91-gad to the Property. The Seller shall pay at closing all casts incurred by the Buyer in extending the abstract of title or registered properly abstract and correcting defects related thereto. At closing. the Seller shall also pay the amount of the transfer tax payable on the deed conveying the • Property tv the $uyer and the amount of any transfer tax or recording fees for documents necessary to vest title in the Seller. 12. If the Buyer defaults in any of the covenants herein, the Seller may terminate this Purchase AgtEemer-t, and on such termination all payment made hereunder shall be retained by the Seller as liquidated damages, time being of the essence. This provision shall not deprive either party of the right to enforce specific performance ofthe Purchase Agreement, provided this Purchase Agreement has not terminated and action to enforce specific performance is commenced within six months after such right of action arises. Tn the event the Buyer defaults in its performance of the terms of this Purchase Agreement and Notice of Cancellation is served upon the Buyer pursuant to Minns. Star. Section 559.21. the termination period shall be thirty (30) days as permitted by Minn. Star., Section 559.21, Subd. 4. 13. The Seller warrants that if, far' ~ r~b• the S lerlan or fee is due on the sale of the Property, such comrmssion or fee steal p Y 14. The Seller warrants that the Properly is not now occupied by tenants and was not occupied by tenants at the time the Seller first received the Buyer's written offer to purchase the Property. 15. The parties ogee that the purchase price includes any and all amounts which Seller may he entitled to receive as relocation benefits pursuant to applicable laws and regulations. IN WITNESS WHEREOF, the parties have hereunto set their hands the day and year first above written. SELLER: BUYER' I. accept this Purchase Agreement and agree to sell the property in accordatlce with the terms and conditions set forth in the Purchase Agreement. MOUNDS VIEW ECONOvIiC DEVELOPMENT AUTHORITY The E3uyer agrees to purchase the prerclises for the price and on the terms and cottditians set forth above. SELLER: Date SELLER: Date $y: Its President Date By: Its Executive Director Date LMw13aeZ1 -nTZns-lo 3 811-d BO/b0'd 919-1 OlEBlEEZl9 N3Rda9 ! d03NN3~-woad wdZO~ZI !B_g~_~e0 STATE OF MIIvNE5OTA ) • ) ss. COUNTY OF RAMSEY ) The foregoing instrument was acknowledaedd before me this ~ daY of _ 1997, by ,the President and Executive Director. respectively, of the Maunds view Economic Development Authority, a body corporate and politic under the laws of Minnesota, by and ot< behalf of said corporation. Notary Public . 1997 The foregoing instrument was acknowledged before ~e~ n be~ fl of 5e let(s). by ,the Seller(s), by T+`atary Public • • This is a legally binding contract. tf not understood, seek competent advice. This document drafted by: i{ENNEDY & GRAVEN, CHARTERED {LMT 470 Pillsbury Center 200 South Sixth Street Minneapolis, MN 55402 (G12) 337-9216 ;~iaieai f~Lt05-t D 811-d 50/50'd 919-1 ~1E81EEZ19 4 N3Atlt+9 ~ A03NN3~-woad wd80~tt 1B-51-~a~