HomeMy WebLinkAbout26-13 - ADMIN Resolution - Economic Development Authority - 2026/05/04
EDA Resolution No. 26-13
Authorizing conveyance of real property to the City of St. Louis Park
Whereas, the St. Louis Park Economic Development Authority (“authority”) is the fee
owner of real property located in the City of St. Louis Park, county of Hennepin, state of
Minnesota, which is legally described as set forth in Exhibit A attached hereto (collectively, the
“property”); and
Whereas, the authority has determined that the property is no longer needed to further
the mission and goals of the authority; and
Whereas, the City of St. Louis Park (“city”) has received an offer from a private party to
purchase the property, contingent upon the city acquiring the property from the authority; and
Whereas, the authority is willing to convey the property to the city pursuant to the
terms and conditions of the purchase agreement; and
Whereas, Minn. Stat. § 465.035 permits the authority to convey the property to the city
for no or nominal consideration, upon terms as agreed by the parties; and
Whereas, Minn. Stat. § 471.64, subd. 1, permits the Authority to enter a contract to
convey the property to the city without regard to statutory or charter provisions, including the
provisions of Minn. Stat. § 462.356, subd. 2 and 469.105; and
Whereas, the authority originally acquired the property with grant funds from Hennepin
County, and, pursuant to the grant and a declaration of restrictive covenants on the property,
the amount of $380,000.00 will required to be paid to Hennepin County unless the property is
sold to a qualifying buyer,
Now therefore be it resolved by the board of commissioners of the St. Louis Park
Economic Development Authority, that:
1. The purchase agreement is hereby approved.
2. The authority president and authority executive director are hereby authorized to
execute the quit claim deeds and any other documents necessary for the conveyance of the
property to the City of St. Louis Park.
3. The resolution shall take effect immediately upon adoption.
Docusign Envelope ID: E611827B-B999-87A3-8337-8D180E6F3B28
Reviewed for administration: Adopted by the Economic Development Authority
May 4, 2026:
Karen Barton, executive director Yolanda Farris, president
Attest:
Melissa Kennedy, city clerk
Docusign Envelope ID: E611827B-B999-87A3-8337-8D180E6F3B28
Exhibit A
Legal Description of the Properties
The South 177 feet of the North 357 feet of the East 127 feet of the Southwest Quarter of the
Southeast Quarter of Section 6, Township 28, Range 24 West of the 4th Principal Meridian,
Hennepin County, Minnesota.
Docusign Envelope ID: E611827B-B999-87A3-8337-8D180E6F3B28