RES 17-04 HRA CITY OF ELK RIVER
HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO . 17-04
A RESOLUTION APPROVING PURCHASE OF CERTAIN PROPERTY AND
THE EXECUTION OF DOCUMENTS IN CONNECTION
THEREWITH
WHEREAS, the HRA was heretofore established by the City of Elk River, Minnesota (the "City")
pursuant to Minnesota Statutes, Sections 469.001 to 469.047 (the "HRA Act"), and is authorized to
undertake certain activities to facilitate the development and redevelopment of real property by
private enterprise,including the purchase and sale of property;and
WHEREAS, to facilitate redevelopment of property in the City,the HRA proposes to acquire certain
property located at 326 Gates in the City (the "Property") from the owner of the Property (the
"Seller").
NOW THEREFORE, BE IT RESOLVED by the Board of the HRA as follows:
1. The HRA finds and determines that the purchase of the Property from the Seller is in the public
interest and will further the objectives of its general plan of economic development, housing
development and redevelopment of the City because it will provide an opportunity for increased
employment opportunities,provide opportunities for redevelopment of the area in accordance with
the City's Mississippi Connections Plan,and serve as an impetus for further development.
2. The HRA hereby authorizes the Executive Director and HRA staff to prepare a purchase
agreement (the "Purchase Agreement") with the Seller setting forth the terms of the acquisition of
the Property in accordance with the terms presented to the Board at its meeting on November 6,
2017.
3. The HRA hereby authorizes the Executive Director and the President to execute and deliver the
Purchase Agreement on behalf of the HRA, together with any related documents necessary in
connection therewith (collectively, the "Development Documents"). The President and Executive
Director are further authorized and directed to execute the Development Documents on behalf of
the HRA and to carry out,on behalf of the HRA,the HRA's obligations thereunder.
4. HRA staff and officials are authorized to take all actions necessary to perform the HRA's
obligations under the Development Documents as a whole, including without limitation execution
of any documents or certifications to which the HRA is a party referenced in or attached to the
Development Documents,and other documents necessary to acquire the Property from the Seller.
5. The approval hereby given to the Development Documents includes approval of such language
and details as may be necessary and appropriate and such modifications thereof, deletions
therefrom and additions thereto as may be necessary and appropriate and approved by legal
counsel to the HRA and by the officers authorized herein to execute said documents prior to
their execution; and said officers are hereby authorized to approve said changes on behalf of the
HRA. The execution of any instrument by the appropriate officers of the HRA herein
authorized shall be conclusive evidence of the approval of such document in accordance with
the terms hereof. In the event of absence or disability of the officers, any of the documents
authorized by this Resolution to be executed may be executed without further act or
authorization of the Board by any duly designated acting official, or by such other officer or
officers of the Board as,in the opinion of the HRA's legal counsel, may act in their behalf.
Approved by the Board of Commissioners of the Housing and Redevelopment Authority in and for
the City of Elk River this 6th day of November,2017.
....,I.
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Larry Toth,Chair
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:Panda i'' udt, '.ecutive Director