HomeMy WebLinkAbout16-02 - ADMIN Resolution - Economic Development Authority - 2016/02/01ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 16-02
RESOLUTION APPROVING THE
GRANTING OF A VISIBILITY EASEMENT
WHEREAS, the St. Louis Park Economic Development Authority ("EDA") is the fee
owner of real property legally described in Exhibit A attached hereto ("EDA Parcel");
WHEREAS, the City of Saint Louis Park (the "City") is purchasing property owned by
Clear Channel Outdoor, Inc. ("Clear Channel") that abuts the EDA Parcel to the west ("Acquisition
Parcel") as part of the settlement of the City's eminent domain action against the Acquisition
Parcel for the Hwy 7 and Louisiana Avenue reconstruction;
WHEREAS, among other conditions of the acquisition, Clear Channel has conditioned
sale of the Acquisition Parcel on (i) the City providing Clear Channel with an easement to locate
a billboard on a portion of the Acquisition Parcel; (ii) the City granting a visibility easement for
the billboard to Hwy 7; and (iii) the EDA providing a visibility easement for the billboard located
on the Acquisition Parcel over a portion of the EDA Parcel ("Visibility Easement's in the form
attached hereto as Exhibit B in exchange for a payment of $3,000 ("Easement Agreement");
WHEREAS, the EDA is willing to grant the Visibility Easement conditioned upon the
payment of $3,000.00 and the City's acquiring the Acquisition Parcel.
NOW, THEREFORE, BE IT RESOLVED by the St. Louis Park Economic
Development Authority that the Easement Agreement is hereby approved, conditioned upon
payment of $3,000.00 and the City acquiring the Acquisition Parcel.
Attest:
1
4e is hemted , Secretary
Adopted by the Economic Development
Authority February 1, 2016
Anne Mavity, President
EDA Resolution No. 16-02 2
EXHIBIT A
Legal Description of EDA Parcel:
Lots 12, 13, 14, 15, 16 and 17, Block 187, including 1/2 vacated street adjoining, and that part of
Lots 6, 7, 8 and 9, Block 186, including 1/2 vacated street adjoining, lying easterly of a right angle
line drawn from the intersection of the center line of said vacated Republic (Curve) Avenue with
the southerly line of Walker Street to the Northerly right-of-way line of State Trunk Highway No,
7, except part taken for highway, all in Rearrangement of St. Louis Park,