HomeMy WebLinkAboutResolution 26-EDA-384 - 2026/02/09EDA RESOLUTION 26-EDA-384
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 Eden
Endeavors, LLC (the "Developer"), under which, among other things, the Authority will convey the
Property to the Developer to construct a boutique hotel with retail -restaurant on ground floor project
subject to certain terms and conditions.
1.04. The Authority has on February 9, 2026, 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 development 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 a part of this
Resolution.
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2.02. The Board hereby approves the Contract in substantially the form presented to the
Board on the date below, 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 9th day of February, 2026.
Attest:
(SEAL)
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Nyle Z und, Vecutive Director
EXHIBIT A
Legal Description of the Property
Lot 61, Auditor's Subdivision No. 89, Ramsey County, Minnesota.
A-1
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