HomeMy WebLinkAbout20-02 - ADMIN Resolution - Economic Development Authority - 2020/04/06St. Louis Park Economic Development Authority
Resolution No. 20-02
Resolution approving the purchase agreement between
the St. Louis Park Economic Development Authority
and Eric R. Wanta
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 (the
"EDA Act"), and is currently administering Redevelopment Project No. 1 (the "Redevelopment
Project") pursuant to Minnesota Statutes, Sections 469.001 to 469.047 (the "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 5647 Minnetonka Boulevard and as legally described as:
Lot 4, Auditor’s Subdivision No. 323, Hennepin County, Minnesota.
(the “Property”).
1.03. There has been presented before the Board a Purchase Agreement (the
“Agreement”) for the purchase of the Property between the Authority and the Seller of the
Property, Eric R. Wanta (the “Seller”).
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, its
residents and will further the objectives of the Authority’s general plan of economic
development.
Section 2. Authority Approval; Further Proceedings.
2.01. The Agreement as presented to the Board on the date of this Resolution 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: D62E004C-4F1B-48C8-A5E4-078EBBFCBE40
EDA Resolution No. 20-02 2
Reviewed for Administration: Adopted by the Economic Development
Authority April 6, 2020
Thomas K. Harmening, executive director Rachel Harris, president
Attest:
Melissa Kennedy, secretary
DocuSign Envelope ID: D62E004C-4F1B-48C8-A5E4-078EBBFCBE40