HomeMy WebLinkAbout04-03 - ADMIN Resolution - Economic Development Authority - 2004/05/17ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
EDA RESOLUTION NO. 04-03
RESOLUTION APPROVING PURCHASE OF LAND BETWEEN THE
ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY AND
MJS-9229, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY (SELLER)
WHEREAS, the St. Louis Park Economic Development Authority (the "Authority")
administers Redevelopment Project No. 1 (the "Project") pursuant to Minnesota Statutes, Sections
469.001 to 460.047 (the "HRA Act"); and
WHEREAS, the Authority seeks to purchase the property described in the attached Exhibit
A (the "Property") for redevelopment and public purposes; and
WHEREAS, the Authority has proposed to acquire the Property from the Seller, and in
connection with that proposal the Authority has caused to be prepared a Purchase Agreement
between the Authority and Seller (the "Contract"); and
NOW, THEREFORE, be it resolved by the Board of Commissioners of the St. Louis Park
Economic Development Authority as follows:
I. The Authority finds that purchase of the Property from the Seller is in the public
interest because it will further the objectives of the redevelopment plans for the Project and to
enhance transportation access and safety in the area.
2. The Authority approves the Contract in substantially the form on file in City Hall.
The President and Executive Director are authorized and directed to execute the Contract, subject to
modifications that do not change the substance of the transaction and are approved by those
officials, provided that execution of the Contract by those officials will be conclusive evidence of
their approval.
3. The Authority approves purchase of the Property from the Seller, subject to
satisfaction of all terms and conditions of the Contract, and authorizes and directs the President and
Executive Director to execute the deed and related documents necessary to carry out such real estate
transaction.
red by the Board of Commissioners of the St. Louis Park Economic Development
17th day of May, 2004.
for Administration:
Executive
Attest:
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Sikretary
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President
SDA Resolution No. 04-03 -2-
EXHIBIT A
Legal Description
UNPLATTED 16 117 21 COM AT A PT IN NWLY LINE OF MPLS AND ST
LOUIS RY DIS 600 FT SWLY FROM SW COR OF AUD SUB NO 249 TH
NWLY AT RT ANGLES TO SELY LINE OF STATE HWY NO 7 TH SWLY
ALONG SAID SELY LINE TO NELY LINE OF WOODDALE AVE TH SELY
ALONG SAID NELY LINE TO NWLY LINE OF SAID RR TH NELY TO BEG
ALSO COM AT A PT IN NELY LINE OF WOODDALE AVE DIS 50 FT
NWLY AT RT ANGLES FROM CTR LINE OF MAIN TRACK OF MPLS
AND ST LOUIS RY TH NELY PAR WITH SAID CTR LINE TO A PT 14 FT
NWLY AT RT ANGLES FROM CTR LINE OF SPUR TRACK NO 253 TH
SWLY PAR WITH SAID SPUR TRACK TO A PT 30 FT NWLY AT RT
ANGLES FROM CTR LINE OF SAID MAIN TRACK TH SWLY PAR WITH
SAID CTR LINE TO NELY LINE OF WOODDALE AVE THENCE NWLY TO
BEG COMPRISING PARTS OF VACATED STREETS AND PARTS OF
BLOCK 23 IN ST LOUIS PARK AND OF BLOCKS 23 23 AND 24 IN
REARRANGEMENT OF ST LOUIS PARK, HENNEPIN COUNTY, MN