HomeMy WebLinkAbout93-02 - ADMIN Resolution - Economic Development Authority - 1993/03/01MICROFILMED
RESOLUTION N0. EDA -2-93
RESOLUTION APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT
WITH FRAUENSHUH COMPANIES
WHEREAS, the Housing and Redevelopment Authority for the City of St. Louis Park
(HRA) established the Excelsior Boulevard Redevelopment Project and approved a plan for
the project in 1977, which plan was amended in 1984; and
WHEREAS, the City Council of the City of St. Louis Park transferred control,
authority and operation of the Excelsior Redevelopment Project from the HRA to the
Economic Development Authority (EDA) in 1988; and
WHEREAS, the HRA and EDA purchased parcels of land in the northeast quadrant
of Highway 100 and Excelsior Boulevard (the "Site") in St. Louis Park, the title for which
currently is in the name of the EDA; and
WHEREAS, a proposed contract for private redevelopment has been prepared
wherein the EDA would convey its interest in part of the Site to the PNMC Holdings; and
WHEREAS, a public hearing on the proposed sale of land was held at 6:30 p.m. on
Monday, March 1, 1993 pursuant to published public notice of the hearing in the St. Louis
Park Sailor, on Wednesday, February 17, 1993, pursuant to a Minnesota Statute 469.105
Subdivision 2; and
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 by and between the St. Louis Park
Economic Development Authority and the Frauenshuh Companies is hereby
approved in substantially the form presented.
2. That the execution of the contract for private redevelopment in substantially the
form presented by the President and Executive Director of the EDA 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 of the
property, including but not limited to the PILOT agreement and the assessment
agreement, under the terms and conditions contained in the contract for private
redevelopment, as executed.
Adopted by the Economic Development Authority
of St. Louis Park n March 1, 1993
Ptesi ent
ATTEST: Approved as to form and execution:
`,
Executive Director A Attorney
2816-2:GEN34