02-06 HRA Resolution
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Resolution 02-06
December 10, 2002
Commissioner Johnson introduced the following and moved its adoption:
RESOLUTION CONDITIONALLY DESIGNATING
R & B PROPERTIES, INC.,
AS DEVELOPER OF A PORTION OF
THE NORTH WIRTH PARKWAY REDEVELOPMENT AREA
(Portion of Lot 1, Block 1, North Wirth Parkway 4th Addition)
WHEREAS, the Golden Valley Housing and Redevelopment Authority
(HRA) is the owner or land in the North Wirth Parkway Redevelopment Area
legally described as Lot, 1, Block 1, North Wirth Parkway 4th Addition; and
WHEREAS, the adjacent property owner operates the headquarters of
Room and Board, owned by R & B Properties, Inc. on said property and would
like to provide for the expansion of its business by acquiring a portion of Lot 1,
Block 1, North Wirth Parkway 4th Addition north of the railroad tracks for this
expansion; and
WHEREAS, the HRA is willing to consider a subdivision of its lot in order
to sell a portion of its property to R & B Properties, Inc.
NOW, THEREFORE, BE IT RESOLVED, by the HRA as follows:
1. R & B Properties, Inc. is conditionally designated as developer of a
portion of Lot 1, Block 1, North Wirth Parkway 4th Addition, which is north of the
railroad tracks.
2. The HRA understands that R & B Properties, Inc. will undertake all
planning and development efforts necessary to determine the parcel to be
subdivided from the HRA lot, and that if such efforts meet the requirements of the
HRA and City, R & B Properties, Inc. will enter into a negotiated development
agreement with the HRA, which development agreement shall contain terms
satisfactory to the HRA and R & B Properties, Inc.
3. The designation contained in this resolution is not an offer or an
agreement to sell the development property, or the grant of an option or any
other interest in the development property. The HRA reserves the right to
rescind the designation at any time in its sole and absolute discretion. Subject to
the foregoing, the HRA agrees to continue negotiation of the development
agreement with R & B Properties, Inc. until such time as they determine to
terminate such negotiations in their sole and absolute discretion.
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Resolution 02-06 (Con't.)
December 10, 2002
4. This amended designation is effective as of the date hereof and shall
automatically terminate and be of no force or effect at such time as the
development agreement between R & B Properties, Inc. and the HRA is
executed by all parties, or April 1, 2003 whichever occurs earlier.
ATTEST:
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Thomas D. Burt, Direc
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Motion for the adoption of the foregoing resolution was seconded by Loomis and
upon a vote taken thereon, the following voted in favor thereof: Grayson,
Johnson, LeSuer, Loomis and Tremere; and the following voted against the
same: none, whereupon said resolution was declared duly passed and adopted,
signed by the Chair and his signature attested by the Director.