HomeMy WebLinkAbout19-EDA-320EDA RESOLUTION 19 -EDA -320
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
A RESOLUTION APPROVING PURCHASE AND
DEVELOPMENT AGREEMENT AND CONVEYANCE OF
PROPERTY LOCATED IN MOUNDS VIEW, MINNESOTA
BE IT RESOLVED by the Board of Commissioners (the "Board") of the Mounds View
Economic Development Authority (the "Authority") as follows:
Section 1 Recitals.
1.01. The Authority is authorized pursuant to Minnesota Statutes, Sections 469.090 to
469.1081 (the "EDA Act'), to acquire and convey real property and to undertake certain
activities to facilitate the development of real property by private enterprise.
1.02. The Authority is fee owner of certain real property in the city of Mounds View (the
"City"), legally described in the attached Exhibit A (the "Property").
1.03. To facilitate the development of housing on the Property, the Authority proposes to
enter into a Purchase and Development Agreement (the "Contract") between the Authority and INH
Property Management, Inc. (the "Developer"), under which, among other things, the Authority will
convey the Property to the Developer to constrict a 127 -unit apartment complex, subject to certain
terms and conditions.
1.04. The Authority has, on January 7, 2019 and in accordance with Minnesota Statutes,
Section 469.105, conducted a duly noticed public hearing regarding the sale of the Property to the
Developer, at which all interested persons were given an opportunity to be heard.
1.05. The Authority finds and determines that conveyance of the Property to the Buyer is
in the public interest and will further the objectives of its general plan of economic development,
because it will provide an opportunity for increased housing opportunities in the City and serve as
an impetus for further development.
1.06. The Board has reviewed the Contract and finds that the execution thereof by the
Authority and performance of the obligations thereunder are in the best interest of the Authority, the
City and its residents.
Section 2. Authorization.
2.01. The recitals set forth in this Resolution are incorporated into and made apart of this
Resolution.
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EDA Resolution No. 19 -EDA -320
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2.02. The Board hereby approves the Contract in substantially the form presented to the
Board, including the conveyance of the Property to Buyer under the terms and conditions of the
Contract, and further subject to any modifications that do not alter the substance of the transaction
and that are approved by the Authority's attorney.
2.03. The proper Authority officials, staff and consultants are authorized to execute the
Contract and take any and all other steps necessary or convenient in order . to carry out the
obligations under the Contract, as well as to fulfill the intent of this Resolution.
Adopted on the 7h day of January, 2019.
A01 ` o -
Carol A. Mueller, President
Nyle tkrnund xecutive Director
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EXHIBIT A
Legal Description of the Property
Parcel 1 (PID 08.30.23.31.0005):
The North 363 feet of the West 330 feet of the Northeast 1/4 of the Southwest 1/4 of Section 8,
Township 30, Range 23, Ramsey County, Minnesota.
Parcel 2 (PID 08.30.23.31.0071):
That part of the Northeast 1/4 of the Southwest 1/4 of Section 8, Township 30, Range 23, Ramsey
County, Minnesota, described as follows: Beginning at the intersection of the East line of the West
330 feet and the South line of the North 365.46 feet of said Northeast 1/4 of the Southwest 1/4;
thence North parallel with the West line of said Northeast 1/4 of the Southwest 1/4 a distance of
255 feet; thence East parallel with the North line of said Northeast 1/4 of the Southwest 1/4 a
distance of 47.07 feet; thence Southeasterly to the intersection of the East line of the West 475 feet
and the South line of the North 193.01 feet of said Northeast 1/4 of the Southwest 1/4 ; thence
South parallel with the West line of said Northeast 1/4 of the Southwest 1/4 and to the South line
of the North 365.46 feet thereof, thence West to the point of beginning, according to the United
States Government Survey thereof and situate in Ramsey County, Minnesota.
Together with a non-exclusive easement for driveway purposes, 25 feet in width, over and across
part of the Northeast 1/4 of the Southwest 1/4 of Section 8, Township 30, Range 23, Ramsey
County, Minnesota, the South and Southwesterly lines of which are described as follows:
Beginning at the intersection of the East line of the West 360 feet and the South line of the North
110.46 feet of said Northeast 1/4 of the Southwest 1/4; thence East parallel with the North line of
said Northeast 1/4 of the Southwest 1/4 a distance of 17.07 feet; thence Southeasterly to the
intersection of the East line of the West 475 feet and the South line of the North 193.01 feet of said
Northeast 1/4 of the Southwest 1/4; and said line there terminating.
Parcel 3 (PID 08.30.23.31.0072):
That part of the North 365.46 feet of the NE '/4 of the SW `/ of Section 8, Township 30, Range 23,
Ramsey County, Minnesota lying Southwesterly of the center line of State Trunk Highway No. 10
except the West 330 feet thereof and except that part described as follows:
Beginning at the intersection of the East line of the West 330 feet and the South line of the North
365.46 feet of said NE '/ of the SW '/; thence North parallel with the West line of said NE '/ of
the SW '/ a distance of 255 feet; thence East parallel with the North line of said NE `/ of the SW
a distance of 47.07 feet; thence Southeasterly to the intersection of the East line of the West 475
feet and the South line of the North 193.01 feet of said NE '/ of the SW '/; thence South parallel
with the West line of said NE '/ of the SW % and to the South line of the North 365.46 feet thereof,
thence West to the point of beginning.
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EDA Resolution 19-EDA-320
Together with a non-exclusive easement for driveway purposes over and across the South 31 feet
of the North 345.46 feet of the East 115 feet of the West 475 feet of the NE '/ of the SW '/ of
Section 8, Township 30, Range 23, Ramsey County, Minnesota.
Together with a non-exclusive easement for parking purposes over and across the East 10 feet of
that part of the NE '/ of the SW '/ of Section 8, Township 30, Range 23, Ramsey County,
Minnesota described as follows: Beginning at the intersection of the East line of the West 330 feet
and the South line of the North 365.46 feet of said NE `/ of the SW '/; thence North parallel with
the West line of said NE `/ of the SW '/ a distance of 255 feet; thence East parallel with the North
line of said NE '/ of the SW '/ a distance of 47.07 feet; thence Southeasterly to the intersection of
the East line of the West 475 feet and the South line of the North 193.01 feet of said NE '/ of the
SW '/4; thence South parallel with the West line of sad NE '/ of the SW '/ and to the South line of
the 365.46 feet thereof; thence West to the point of beginning.
Together with an easement for utility purposes over, under and across the South 10 feet of the
North 314.46 feet of the East 115 feet of the West 475 feet of the NE '/ of the SW '/ of Section 8,
Township 30, Range 23, Ramsey County, Minnesota.
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