HomeMy WebLinkAbout19-07 - ADMIN Resolution - Economic Development Authority - 2019/07/22St. Louis Park Economic Development Authority
EDA Resolution No. 19-07
Resolution approving the purchase agreement between
the St. Louis Park Economic Development Authority
and Thomas C. Evans and Constance G. Evans
Be it resolved by the Board of Commissioners of the St. Louis Park Economic
Development Authority (the "Authority") as follows:
Section 1. Recitals.
1.01. The Authority has determined a need to exercise the powers of a housing and
redevelopment authority, pursuant to Minnesota Statutes, Sections. 469.090 to 469.108 ("EDA
Act"), and is currently administering Redevelopment Project No. 1 ("Redevelopment Project")
pursuant to Minnesota Statutes, Sections 469.001 to 469.047 ("HRA Act").
1.02. Among the activities to be assisted by the Authority in the Redevelopment
Project is acquisition of a single family property to pursue affordable housing goals in the City
located at 5639 Minnetonka Boulevard and legally described in Exhibit A attached hereto
(“Property”).
1.03. There has been presented before the Board a Purchase Agreement
(“Agreement”) setting forth the terms and conditions of the purchase of the Property between
the Authority and the Seller of the Property, Thomas C. Evans and Constance G. Evans
(“Seller”). The Agreement is attached hereto as Exhibit B.
1.04. The Board has reviewed the Agreement and finds that the execution thereof and
performance of the Authority's obligations thereunder are in the best interest of the City and its
residents.
Section 2. Authority Approval; Further Proceedings.
2.01. The Agreement as presented to the Board is hereby in all respects approved,
subject to modifications that do not alter the substance of the transaction and that are
approved by the President and Executive Director, provided that execution of the documents
by such officials shall be conclusive evidence of approval.
2.02. The President and Executive Director are hereby authorized to execute on behalf
of the Authority the Agreement and any documents referenced therein requiring execution by
the Authority, and to carry out, on behalf of the Authority its obligations thereunder.
DocuSign Envelope ID: A3EEC854-AA5A-43AE-97AE-A383C2CC094F
EDA Resolution No. 19-07 2
Reviewed for Administration: Adopted by the Economic Development
Authority July 22, 2019
Thomas K. Harmening, Executive Director Steve Hallfin, President
Attest
Melissa Kennedy, Secretary
DocuSign Envelope ID: A3EEC854-AA5A-43AE-97AE-A383C2CC094F