HomeMy WebLinkAboutEDA Resolution 14-EDA-287MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION 14 -EDA -287
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION AUTHORIZING CANCELLATION OF A PURCHASE
AGREEMENT
WHEREAS, Shelly D. Parker, a single person ("Seller"), is an owner of real estate located at
2665 Ardan Avenue, Mounds View, Ramsey County, Minnesota, and which is legally described in
the Cancellation Agreement as hereinafter defined (the "Property"); and
WHEREAS, the Mounds View Economic Development Authority, a public body corporate
and politic (the "EDA") desires to cancel the executed purchase agreement made with the Seller of
the Property; and
WHEREAS, the EDA has determined that at this time, due to the limitations and
requirements of the CDBG grant funds, the purchase of the Property and new home construction will
not be financially feasible; and
WHEREAS, on October 13, 2014, the EDA executed an offer and purchase agreement (the
"Agreement") providing for the terms of the conveyance of the Property from Seller to the EDA.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY, AS FOLLOWS:
1. The recitals set forth in this Resolution are incorporated into and made a part of this
Resolution.
2. The cancellation of the purchase of the Property by the EDA is hereby approved
pursuant to the terms of the Agreement, which is also approved in substantially the form presented
to the Commission on this date, subject to modifications that do not materially alter the EDA's rights
and obligations under the Agreement and that are approved by the Authority's President and
Executive Director, which approvals shall be conclusively evidenced by execution of the Agreement.
3. The President and Executive Director of the EDA are hereby authorized and directed
to execute all appropriate documents, including but not limited to the Cancellation Agreement, to
effectuate the transaction contemplated by this Resolution.
Resolution 14 -EDA -287
Page 2
4. The President and Executive Director of the EDA, staff and consultants are hereby
authorized and directed to take any and all additional steps and actions necessary or convenient in
order to accomplish the intent of this Resolution.
Approved by the Board of Commissioners of the Mounds View Economic Development
Authority this 27th day of October, 2014.
ATTEST:
Joe Flalierty-
President
James Ericson
Executive Director
CANCELLATION OF PURCHASE AGREEMENT
FOR 2665 ARDAN AVENUE
This Cancellation of Purchase Agreement ("Cancellation Agreement") entered into this 27th
day of October, 2014, by and between the Mounds View Economic Development Authority, a public
body corporate and politic under the laws of the State of Minnesota ("EDA") and Shelly D. Parker, a
single person ("Parker").
WHEREAS, EDA and Parker entered into a Purchase Agreement, executed October 13,
2014 (the "Purchase Agreement") regarding the real property legally described as Lot 2, Block 1,
Richard Charbonneau Addition, Ramsey County, Minnesota, located at 2665 Ardan Avenue,
Mounds View, MN 55112 (the "Property");
WHEREAS, EDA and Parker desire to cancel and terminate the Purchase Agreement.
NOW, THEREFORE, in consideration of the mutual covenants contained herein and other
good and valuable consideration, EDA and Parker hereby agree as follows:
1. The recitals set forth in this Cancellation Agreement are incorporated into and made a
part of this Cancellation Agreement.
2. Parker represents and warrants to EDA that Parker has not assigned, transferred, or
conveyed her interest in the Purchase Agreement.
3. Parker acknowledges the EDA has not paid any earnest money.
4. The Purchase Agreement is hereby cancelled, terminated and null and void and
neither party shall have any further rights or obligations thereunder.
IN WITNESS WHEREOF the undersigned have executed this instrument the day and date
first above written.
MOUNDS VIEW ECONOMIC
DEVELOPMENT AUTHORITY
By:
Its:zyke FlahertyPx
By:c.vNUAL1 lei --4 t`")
Its: James Ericson, Executive Director
'Shelly D. Parker