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HomeMy WebLinkAbout07-09 - ADMIN Resolution - Economic Development Authority - 2007/09/04ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY EDA RESOLUTION NO. 07-09 RESOLUTION APPROVING PURCHASE AND REDEVELOPMENT CONTRACT WITH CITY OF ST. LOUIS PARK, UNITED PROPERTIES INVESTMENT LLC AND PARK NICOLLET METHODIST HOSPITAL AND CONVEYANCE OF CERTAIN PROPERTY TO UNITED PROPERTIES INVESTMENT LLC BE IT RESOLVED by the Board of Commissioners ("Board") of the St. Louis Park Economic Development Authority, St. Louis Park, Minnesota ("Authority") as follows: Section 1. Recitals. 1.01. The Authority and the City of St. Louis Park (the "City") have heretofore approved the establishment of Redevelopment Project No. 1 (the "Project") pursuant to Minnesota Statutes, Sections 469.001 to 469.047 (the "HRA Act"). 1.02. To facilitate redevelopment of certain property in the Project, the Authority proposes to enter into a Purchase and Redevelopment Contract (the "Contract") between the Authority, the City, United Properties Investment LLC (the "Redeveloper"), and Park Nicollet Methodist Hospital, under which, among other things, the Authority will convey certain property legally described in the attached Exhibit A (the "Redevelopment Property") to Redeveloper for development as a medical facility. 1.03. The City currently owns the Redevelopment Property and, subject to the findings of the City Planning Commission with regard to compliance of the proposed conveyance with the City's comprehensive plan, intends to approve the conveyance of said property to the Authority for reconveyance to the Redeveloper, in order to promote the redevelopment of the Redevelopment Property. 1.04. The Authority has on this date conducted a duly noticed public hearing regarding the sale of the Redevelopment Property to Redeveloper, at which all interested persons were give an opportunity to be heard. Section 2. Authority Approval; Further Proceedings. 2.01. The Board hereby approves the Contract as presented to the Board, including conveyance of the Redevelopment Property to Redeveloper, subject to a finding by the Planning Commission that the proposed conveyance complies with the City's comprehensive plan, and subject to modifications that do not alter the substance of the transaction and that are approved by the Chair and Executive Director, provided that execution of the Contract by those officials shall be conclusive evidence of their approval. 2.02. Authority staff and officials are authorized to take all actions necessary to perform the Authority's obligations under the Contract as a whole, including without limitation execution of any documents to which the Authority is a party referenced in or attached to the Contract, and any deed or other documents necessary to acquire any portion of the Redevelopment Property from the City and to convey such property to Redeveloper, all as described in the Contract. EDA Resolution No. 07-09 -2- Approved by the Board of Commissioners of the St. Louis Park Economic Development iy this 4th day of September, 2007. for Administration: Adopted by the Economic Development Authority September 4, 2007 birectof President Attest EDA Resolution No. 07-09 -3- EXHIBIT A Redevelopment Property That part of the following described property: Parcel 1: Block 1 and that part of Block 2 lying Southeasterly of the Southeasterly line of Belt Line Boulevard. Also that part of Block 7 lying Northeasterly of the Northeasterly line of Monterey Dr. Westmoreland Park, according to the recorded plat thereof, and situate in Hennepin County, Minnesota. Parcel 2: That part of the Northeast Quarter of the Southwest Quarter of Section 6, Township 28, Range 24, Hennepin County, Minnesota described as follows: A tract of land 40 feet in width lying immediately north of and adjacent to the northerly lines of Blocks 1 and 2, Westmoreland Park and lying easterly of the Southeasterly line of Belt Line Boulevard. Vacated Right-of-ways: That part of the Northeast Quarter of the Southwest Quarter of Section 6, Township 28, Range 24, Hennepin County, Minnesota described as follows: A tract of land lying southeasterly of a line 40.00 feet northerly of, measured at a right angle to, and parallel with the north line of Westmoreland Park, that lies easterly of the southeasterly line of Belt Line Boulevard and westerly of the northerly extension of the easterly line of Block 1, said plat. AND That part of the Right-of-ways originally dedicated in the plat of Westmoreland Park, Hennepin County, Minnesota described as follows: That part of 36 1/2 Street which lies easterly of the northeasterly line of Monterey Drive and west of the centerline of Natchez Avenue; I:►U That part of Ottawa Avenue, which lies northerly of the northeasterly line of Monterey Drive and south of the north line of said plat; AND That pan of Natchez Avenue, which lies northerly of the northeasterly line of Monterey Drive and south of the north line of said plat; AND The alley contained within Block 1 of said plat; EDA Resolution No. 07-09 -4- AND Those parts of the alleys contained within Block 2 of said plat lying easterly and southerly of the southeasterly line of Belt Line Boulevard; AND That part of the alley contained within Block 7 of said plat lying northerly of the northeasterly line of MontereyDrive. Lying Northerly of the following described line: Commencing at the Northeast corner of said Parcel 2; thence on an assumed bearing of South 00 degrees 26 minutes 06 seconds West, along the East line of the West 25 feet of Natchez Avenue, a distance of 511.87 feet to the point of beginning; thence North 86 degrees 07 minutes 16 seconds West a distance of 278.24 feet; thence North 79 degrees 14 minutes 15 seconds West a distance of 127.81 feet; thence North 66 degrees 00 minutes 34 seconds West a distance of 104.21 feet to the Southeasterly right-of-way line of Belt Line Boulevard and said line there terminating.