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HomeMy WebLinkAbout17-06 - ADMIN Resolution - Economic Development Authority - 2017/04/03ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY EDA RESOLUTION NO. 17-06 \ RESOLUTION APPROVING A PURCHASE AGREEMENT BETWEEN THE ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY AND HENNEPIN COUNTY HOUSING AND REDEVELOPMENT AUTHORITY BE IT RESOLVED BY the Board of Commissioners ('Board") of the St. Louis Park Economic Development Authority (the "Authority") as follows: Section 1. Recitals. 1.01. The Authority is authorized to promote development and redevelopment activities within the City of St. Louis Park (the "City"), pursuant to its authority under Minnesota Statutes, Sections 469.090 to 469.108 1, as amended (the "Act"). 1.02. The Hennepin County Housing and Redevelopment Authority (the "County HRA") and the Authority desire to enter into a Purchase Agreement (the "Agreement") pursuant to which the County LIRA will convey certain property located in the City and described in Exhibit A (the "Property") to the Authority, which the Authority intends to convey to a private developer for certain mixed-use, transit -oriented redevelopment activities as authorized by the Act. 1.03. The City Planning Commission has reviewed the proposed acquisition and subsequent conveyance of the Property through its planned unit development approval process, and approved the Planned Unit Development associated with the Property on March 15, 2017. 1.04. The Authority has reviewed the Purchase Agreement, and finds that the execution of the Purchase Agreement and the Authority's performance of its obligations thereunder are in the best interest of the City and its residents. Section 2. Purchase Agreement Approved. 2.01. The Purchase Agreement, as presented to the Authority, 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 Purchase Agreement by such officials shall be conclusive evidence of their approval. 2.02. The President and Executive Director are hereby authorized to execute the Purchase Agreement on behalf of the Authority and to carry out, on behalf of the Authority, the Authority's obligations thereunder, including without limitation the execution and delivery of any documents attached to or referenced in the Purchase Agreement and necessary to effect the acquisition. ReLwed for Administration: Thomas .'ng, Executive Director Attest: Melissa erne , e retary Adopted by the Economic Development Authority April 3, 2017 Anne Mavity, President EDA Resolution No. 17-06 2 EXHIBIT A PROPERTY General Location: East of Wooddale Ave. in St. Louis Park Property Identification No(s).: 16-117-21-31-0002 Division of 16-117-21-31-0005 16-117-21-31-0076 16-117-21-34-0069 Tract Index (Abstract): Lot 6, Part of Lots 7, 8, and 11 thru 21, Block 25, Lot 11, Part of Lots 12, 13, 14, 20, 21, 22 and 23, Block 29, Lots 2, 3, 9, 10 and 11, Part of Lot 4, Block 30, Part of Lots 9 thru 15 and 29, Block 247, "Rearrangement of St. Louis Park"; Part of Government Lot 5, Section 16, Township 117, Range 21, Tract Index (Torrens): Certificate of Title No. 1124712. HCRRA Property Map No(s).: Part of Map No. 5 and other land Tract 1 (PID No. 16-117-21-34-0069) (Torrens Certificate of Title No. 1124712) Par 1: That part of the following described property: That part of Lots 20, 21, 22 and 23, Block 29, "Rearrangement Of St. Louis Park" and that part of the adjoining vacated alleys, all described as commencing at a point on the Southwesterly line of Block 30, "Rearrangement Of St. Louis Park" distant 2.4 feet Southerly, measured along said Southwesterly line, from the Northwesterly corner of said Block 30; thence Northeasterly to a point on the East line of said Block 30 distant 6.67 feet South, measured along said East Iine from the Northeasterly corner of said Block 30; thence continuing Northeasterly along the last described course a distance of 56.97 feet; thence Southeasterly at a right angle 20.57 feet; thence Northeasterly at a right angle 86.47 feet to the actual point of beginning; thence continuing Northeasterly along the last described course to the center line of the vacated alley adjoining the East line of said Lots 20, 21, 22 and 23; thence South along said center line and its extension to the center line of the vacated alley adjoining the South line of said Lot 20, thence West along the last described center line to its intersection with the extension South of a line drawn from the actual point of beginning to a point on the South line of said Lot 20 EDA Resolution No. 17-06 3 distant 79 feet East from the Southwest corner of said Lot 20; thence North to the actual point of beginning; Which lies Westerly of the East line of Lot 7 said Block 29, extended Northerly. Par 2: Lots 3, 4, 9, 10 and part of Lots 2 and 11, Block 30, "Rearrangement Of St. Louis Park", and part of Lots 20 to 23, both inclusive, Block 29, "Rearrangement Of St. Louis Park", and that part of vacated Zarthan Avenue, all being described as follows: Beginning at a point on the Southwesterly line of said Block 30 distant 2.4 feet Southerly, measured along said Southwesterly line, from the Northwesterly corner of said Block 30; thence Northeasterly in a straight line to a point on the East line of said Block 30 distant 6.67 feet South, measured along said East line, from the Northeasterly corner of said Block 30; thence continue Northeasterly along said last described course 56.97 feet; thence Southeasterly at right angles 20.57 feet; thence Northeasterly at right angles 86.47 feet; thence Southerly a distance of 89.59 feet, more or less, to the North line of the alley in Block 29, "Rearrangement Of St. Louis Park", said point being 79 feet East of the Southwest corner of Lot 20 in said Block 29; thence Westerly along the North line of said alley and the same extended to the West line of Zarthan Avenue; thence South along the West line of Zarthan Avenue to the Southerly corner of Lot 4, Block 30, "Rearrangement Of St. Louis Park"; thence Northwesterly along the Southwesterly line of said Lot 4 to the Southeasterly corner of Lot 9 in said Block 30; thence Southwesterly along the Southeasterly line of said Lot 9 to the Southwesterly coiner of said Lot 9; thence Northwesterly along the Southwesterly line of said Block 30 to the place of beginning; Except that part of said Lot 4, Block 30, lying South of a line described as: Commencing at a point in the Southwest line of said Lot 4, distant 26 feet Northwest of the most Southerly corner of said Lot 4, thence Northeast to a point in the East line of said Lot 4, distant 29 feet North of the most Southerly corner. That part of Zarthan Avenue and that part of the alley in Block 29, "Rearrangement Of St. Louis Park" lying South of the North line of the alley in Block 29, "Rearrangement Of St. Louis Park" and the same extended West to the West line of said Zarthan Avenue, and Northwesterly of a line drawn from a point on the Easterly line of Lot 4, Block 30, "Rearrangement Of St. Louis Park" distant 38.72 feet Northerly from the most Southerly corner of said Lot 4 to a point on the South line of Lot 20, Block 29, "Rearrangement Of St. Louis Park" distant 6.7 feet East of the Southwest corner of said Lot 20. That part of the vacated East-West alley dedicated in Block 29, "Rearrangement Of St. Louis Park" which lies North of the center line of said alley and between the Southerly extensions of the West line of Lot 20, said Block and Addition, and the following described line: Commencing at a point on the Southwesterly line of said Block 30 distant 2.4 feet Southerly, measured along said Southwesterly line, from the Northwesterly corner of said Block 30; thence Northeasterly in a straight line to a point on the East line of said Block 30 distant 6.67 feet South, measured along said East line, from the Northeasterly corner of said Block 30; thence continue Northeasterly along said last described course 56.97 feet; thence Southeasterly at right angles 20.57 feet; thence Northeasterly at a right angle 86.47 feet to the actual point of beginning of the line to be described; thence South to a point on the South line of said Lot 20 distant 79 feet East Rom Southwest corner of said Lot 20. EDA Resolution No. 17-06 4 Tract 2 (PID No. 16-117-21-31-0076) (From Pages 1 and 2 of CR Doc, No. 9081732) Par 1: Lot 11; those parts of Lots 12, 13, 14, 21, 22 and 23, Block 29; those parts of Lots 2 and 11, Block 30; that part of the adjoining vacated north -south alley lying in Block 29, and vacated Zarthan Avenue, "Rearrangement of St. Louis Park" described as follows: Commencing at the west quarter coiner of Section 6, Township 28 North, Range 24 West of the 4th Principal Meridian, Hennepin County, Minnesota; thence South 0 degrees 14 minutes 49 seconds East, assumed bearing, along the west line of the Southwest Quarter of said Section 6 a distance of 492.57 feet to the southerly right of way line of the Canadian Pacific Railroad, shown as the Chicago, Milwaukee and St. Paul Railway on said plat of "Rearrangement of St. Louis Park"; thence continuing South 0 degrees 14 minutes 49 seconds East along said west line 80.00 feet; thence South 65 degrees 52 minutes 15 seconds West 955.17 feet to the east line of said Lot 12 and the point of beginning of the parcel to be described; thence continuing South 65 degrees 52 minutes 15 seconds West 162.71 feet to the southerly line of said Lot 14; thence North 88 degrees 58 minutes 35 seconds West 18.23 feet along said southerly line and its westerly extension to the centerline of said alley; thence North 0 degrees 57 minutes 33 seconds East 4.17 feet along said centerline; thence South 65 degrees 21 minutes 14 seconds West 183.14 (feet); thence North 24 degrees 38 minutes 46 seconds West 20.57 feet; thence South 65 degrees 21 minutes 14 seconds West 252.73 feet to the southwesterly line of said Lot 11, Block 30; thence North 39 degrees 00 minutes 57 seconds West 2.40 feet along said southwesterly line to the said southerly right of way line; thence North 64 degrees 17 minutes 59 seconds East 451.50 feet along said southerly right of way line; thence North 64 degrees 21 minutes 45 seconds East 185.28 feet along said southerly right of way line to the east line of said Lot 11, Block 29; thence southerly along the east line of said Lots 11 and 12 to the point of beginning. Par 2: Lot 6 and those parts of Lots 7, 8, and 11 thru 21, Block 25, "Rearrangement of St. Louis Park" described as follows: Commencing at the west quarter corner of Section 6, Township 28 North, Range 24 West of the 4th Principal Meridian, Hennepin County, Minnesota; thence South 0 degrees 14 minutes 49 seconds East, assumed bearing, along the west line of the Southwest Quarter of said Section 6 a distance of 492.57 feet to the southerly right of way line of the Canadian Pacific Railroad, shown as the Chicago, Milwaukee and St. Paul Railway in the plat of "Rearrangement of St. Louis Paik"; thence continuing South 0 degrees 14 minutes 49 seconds East along said west line 80.00 feet; thence South 65 degrees 52 minutes 15 seconds West 526.90 feet to the east line of said Lot 7 and the point of beginning of the parcel to be described; thence continuing South 65 degrees 52 minutes 15 seconds West 361.97 feet to the west line of said Lot 21; thence North 01 degree 03 minutes 00 seconds East 54.70 feet along said west lot line to said southerly raihoad right of way line; thence North 64 degrees 21 minutes 45 seconds East 366.58 feet along said southerly right of way line to the east line of said Lot 6; thence southerly along the cast line of said Lots 6 and 7 to the point of beginning. EXCEPT (From Page 2 of CR Doe, No. 9081732) EDA Resolution No. 17-06 5 The segment of land lying beneath unvacated Yosemite Street (Avenue) is expressly excluded. Soo Line Railroad Company, a corporation under the laws of the State of Minnesota doing business as Canadian Pacific Railway, reserves all right, title, and interest to platted and unvacated Yosemite Street (Avenue), subject to its dedication to the City for street purposes. In the event that City vacates Yosemite Street (Avenue) title will vest in Soo Line Railroad Company, a corporation under the laws of the State of Minnesota doing business as Canadian Pacific Railway, per CR Doc. No. 9081732. Tract 3 (PID No. 16-117-21-31-0002) (From Page 6 of CR Doc. No. 4928955) That part of Government Lot 5 of Section 16, Township 117 North, Range 21 West of the Fifth Principal Meridian, bounded and described as follows: Beginning at a point on the Southwesterly line of Auditor's Subdivision 249, distant 50 feet Northwesterly, measured at right angles, from the center line of the main track of the Minneapolis and St. Louis Railway Company (now the Chicago and North Western Transportation Company), as said main track center line was originally located and established over and across said Section 16; thence Southwesterly parallel with said center line a distance of 600 feet; thence Northwesterly at right angles to the last described course a distance of 29 feet; thence Northeasterly parallel with said original main track center line a distance of 600 feet; thence Southeasterly at right angles a distance of 29 feet to the point of beginning. Tract 4 (Part of PID No. 16-117-21-31-0005) (From Pages 6 and 7 of CR Doc. No. 4928955) That part of Government Lot 5 of Section 16, Township 117 North, Range 21 West of the Fifth Principal Meridian, bounded and described as follows: Beginning at the intersection of the Southeasterly line of Block 247, Rearrangement of St. Louis Park, and the Northwesterly extension of the Southwesterly line of Auditor's Subdivision 249; thence Northeasterly along the Southeasterly line of said Block 247 a distance of 205.9 feet to the Southwest corner of Lot 30 in said Block 247; thence Southeasterly at right angles to the last described course a distance of 10 feet, more or less, to a point distant 175 feet Northwesterly, measured at right angles, from the center line of the main track of the Minneapolis and St. Louis Railway Company (now the Chicago and North Western Transportation Company), as said main track center line was originally located and established over and across said Section 16; thence Southwesterly parallel with said center line a distance of 205.9 feet to a point on the Southwesterly line of said Auditor's Subdivision 249; thence Northwesterly along said Southwesterly line, or the Northwesterly extension thereof, a distance of 10 feet, more or less, to the point of beginning.