HomeMy WebLinkAbout90-1 - ADMIN Resolution - Economic Development Authority - 1990/01/081AICROFILMED
EDA
RESOLUTION NO. 90-1
RESOLUTION APPROVING CONTRACT FOR
PRIVATE REDEVELOPMENT WITH ROBERT LARSEN PARTNERS, INC.,
AUTHORIZING ITS EXECUTION; AUTHORIZING EXECUTION OF THE
DEED OF CONVEYANCE
WHEREAS, the St. Louis Park Economic Development Authority (EDA) is
responsible for the Development Program for the Highway 7 Corridor (Development
Program) that was established pursuant to Tax Increment Financing District 85-1; and
WHEREAS, a proposed Contract for Private Redevelopment by and between the EDA
and Robert Larsen Partners, Inc., (Redeveloper), wherein the EDA would acquire a portion
of the site (Subject Parcels) contemplated for redevelopment and convey them to the
Redeveloper has been reviewed by the EDA; and
WHEREAS, in the Contract for Private Redevelopment it is a precondition to the
EDA's purchase and sale "of the Subject Parcels that the Development Program be modified
to indicate that it is the intent of the EDA to acquire the Subject Parcels; and
WHEREAS, a public hearing on the proposed sale of the Subject Parcels was held at
6:30 p.m. January 8, 1990, pursuant to published notice of the hearing in the St. Louis Park
Sailor, a newspaper of general circulation in Hennepin County and the City of St. Louis
Park, at least 10 but not more than 20 days before the hearing pursuant to Minnesota
Statute Chapter 469.105 Subd. 2;
NOW, THEREFORE be it resolved by the Board of Commissioners of the Economic
Development Authority of the City of St. Louis Park as follows:
1. That the Contract for Private Redevelopment referred to above is hereby
approved subject to final negotiations between EDA staff and the Redeveloper
and subject to final review by the EDA attorney.
2. That the execution of the Contract for Private Redevelopment by the
President and Executive Director of the EDA after final negotiation and
review as specified in Number 1 above, is hereby authorized.
3. That the President and the Executive Director of the EDA are hereby
authorized to execute a deed of conveyance and other documents related to
the conveyance to the subject property under the terms and conditions
contained in the referred to Contract for Private Redevelopment on behalf of
the EDA
4.
That this redevelopment would not occur but for the tax increment financing
assistance being provided through this Contract for Private Redevelopment.
Adopted by the Economic Development Authority on
ATTEST:
William Dixon, Executive erector
589:GEN6