Loading...
HomeMy WebLinkAbout05-16 - ADMIN Resolution - Economic Development Authority - 2005/12/05ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY EDA RESOLUTION NO. 05-16 RESOLUTION APPROVING PURCHASE OF LAND BETWEEN THE ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY AND DWORSKY FAMILY TRUST, (SELLER) WHEREAS, the St. Louis Park Economic Development Authority (the "Authority") administers Redevelopment Project No. 1 (the "Project") pursuant to Minnesota Statutes, Sections 469.001 to 460.047 (the "LIRA Act"); and WHEREAS, the Authority seeks to purchase property as described in the attached Exhibit A (the "Property') for road improvements; and WHEREAS, the Authority has proposed to acquire the Property from the Seller, and in connection with that proposal the Authority has caused to be prepared a Purchase Agreement between the Authority and Seller (the "Contract"); and NOW, THEREFORE, be it resolved by the Board of Commissioners of the St. Louis Park Economic Development Authority as follows: 1. The Authority finds that purchase of the Property from the Seller is in the public interest because it will further the objectives of the redevelopment plans for the Project and assist in the construction of road improvements in the vicinity of the Highway 7 and Wooddale Avenue intersection. 2. The Authority approves the Contract in substantially the form on file in City Hall. The President and Executive Director are authorized and directed to execute the Contract, subject to modifications that do not change the substance of the transaction and are approved by those officials, provided that execution of the Contract by those officials will be conclusive evidence of their approval. 3. The Authority approves purchase of the Property from the Seller, subject to satisfaction of all terms and conditions of the Contract, and authorizes and directs the President and Executive Director to execute only related documents necessary to carry out such real estate transaction. Approved by the Board of Commissioners of the St. Louis Park Economic Development Authority this 5th day of December, 2005. for Administration: Adopted by the Economic Development �� Au�rity December 5, 2005 4,1 D rector Ute_ Preside Attest —yi &4 I bj Secretary EDA Resolution No. 05-16 -2- Legal Description Parcel A: Tract B and C, Registered Land Survey No. 302, Hennepin County, Minnesota. Being registered land as is evidenced by Certificate of Title No. 1076400. Parcel B: Tract B, Registered Land Survey No. 387, Hennepin County, except that part thereof which lies Northeasterly of the following described line: Commencing at the Northeast corner of Tract A, Registered Land Survey No. 387; thence Southeasterly along the Northeasterly line of said Tract A and E to the Southeast corner of Tract E and the point of beginning of the parcel to be described; thence continuing Southeasterly along said Northeasterly line extended, a distance of 23.0 feet; thence continuing Southeasterly to a point on the Southeasterly line of said Tract B distant 7.27 feet Southwesterly of the Southeast corner of said Tract B and there terminating. Parcel 2: Tract C except that part thereof lying Northwesterly of an extension of the Southeasterly line of Tract D in a Northeasterly direction across said Tract C to the point of intersection with the Easterly line of said Tract C, Registered Land Survey No. 387, Hennepin County, Minnesota. Together with an easement for roadway purposes over Tract E, said Survey as contained in deed Document No. 445603; Being registered land as is evidenced by Certificate of Title No. 1051133 Parcel C: Parcel 1: That part of Tract C, lying Northwesterly of an extension of the Southeasterly line of Tract D, in a Northeasterly direction across said Tract C to the point of intersection with the Easterly line of said Tract C, Registered Land Survey No. 387 Hennepin County, Minnesota. Parcel 2: Tract D, Registered Land Survey No. 387, Hennepin County, Minnesota. Together with an easement for roadway purposes over that part of Tract A, said Survey, lying Northwesterly of a line drawn from a point on the Northerly line of said Tract A, 56.49 feet Easterly from the most Westerly corner of said Tract A to a point on the Southwesterly line of said Tract A, 33.42 feet Southeasterly from the most Westerly corner of said Tract A as contained in deed Document No. 445603; Being registered land as is evidenced by Certificate of Title No. 742791.