03-02 HRA Resolution
NOT ACTED UPON
Resolution 03-02
January 14, 2003
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Commissioner introduced the following and moved its adoption:
RESOLUTION CONDITIONALLY APPROVING SALE OF CERTAIN
REAL PROPERTY IN THE NORTH WIRTH PARKWAY
REDEVELOPMENT AREA
(Infinity Motel Holdings, L.L.C. - Hwy. 55 at Schaper Dr.)
WHEREAS, the Housing and Redevelopment Authority in and for the City of Golden
Valley (hereinafter "HRA") and the City Council for the City of Golden Valley (hereinafter
"City") have approved the North Wirth Parkway Redevelopment Plan as adopted in 1978
and amended from time to time; and
WHEREAS, the North Wirth Parkway Redevelopment Plan contemplates the
redevelopment of the Central Area in commercial-type uses; and,
WHEREAS, Infinity Motel Holdings, L.L.C. (hereinafter referred to as "Developer")
has made a proposal for the construction an 32,000 sq. ft. office building, 3800 sq. ft. gas
station, convenience store and car wash, and 12,000 sq. ft. of service/retail space, partially
constructed on HRA property legally described as Lot 1, Block 2, Schaper Addition; and
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WHEREAS, the HRA has reviewed the terms of the proposal made by the
Developer and they appear to be reasonable and within the overall guidelines for
redevelopment of the North Wirth Parkway Redevelopment Area; and
WHEREAS, the HRA has determined the use value of the real property
contemplated by the Developer's proposal; and,
WHEREAS, pursuant to Minnesota Statutes 9469.029, the HRA has duly given
notice in the form attached as Exhibit B of a public hearing on the proposed sale of the
property legally described as Lot 1, Block 2, Schaper Addition (hereinafter the "Subject
Property") and has duly held said public hearing.
NOW, THEREFORE, BE IT RESOLVED, that the HRA does hereby make the
following findings and determinations:
1. Proper published notice of the proposed sale of the Subject Property
described above (Exhibit A attached) has been given and a public hearing has been held
thereon, all in accordance with the provisions of Minnesota Statutes 9469.029; and
2. The use of the Subject Property proposed by the Developer is reasonably
within the overall guidelines of the North Wirth Parkway Redevelopment Plan; and
3. The use value of the Subject Property is hereby established as $5 per
. square foot; and
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Resolution 03-02 - Continued
January 14, 2003
4. In consideration of the restrictions on the sale and use of the Subject
Property imposed by Minnesota Statute 9469.029 and the restrictions imposed by the
North Wirth Parkway Redevelopment Plan, sale of the Subject Property to the developer at
the above noted value is appropriate.
BE IT FURTHER RESOLVED that:
1. The sale of the Subject Property to the Developer on the terms and
conditions set forth in the development agreement attached hereto as Exhibit "B" is hereby
approved; and
2. The Chair and the Director of the HRA are hereby authorized to execute
the necessary documents and close the sale of the Subject Property to the Developer
pursuant to the terms and restrictions provided hereby; and
3. The Director of the HRA is hereby authorized and empowered to take all
necessary steps to perform the obligations imposed on the HRA under the private
development agreement; and
4. The North Wirth Parkway Redevelopment Plan is hereby amended to the
extent that the Developer's proposal embodied in the private development agreement
attached hereto as Exhibit "B" so modifies it.
Jan LeSuer, Chair
ATTEST:
Thomas D. Burt, Director
Motion for the adoption of the foregoing resolution was seconded by Commissioner ; and
upon a vote taken thereon, the following voted in favor thereof: ; the following was absent: ;
and the following voted against the same: ; whereupon said resolution was declared duly
passed and adopted, signed by the Chair and his signature attested by the Director.
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Resolution 03-02 (Con't.)
January 14, 2003
EXHIBIT A
NOTICE OF PUBLIC HEARING
(APPROVAL OF SALE OF REAL PROPERTY AT THE NORTHEAST INTERSECTION OF
HWY. 55 AND SCHAPER RD. TO INFINITY MOTEL HOLDINGS L.L.C. FOR
REDEVELOPMENT)
NOTICE IS HEREBY GIVEN that the Housing and Redevelopment Authority (HRA)
of Golden Valley, Minnesota will meet at the Golden Valley City Hall, Council Chambers,
7800 Golden Valley Road, on Tuesday, January 14, 2003, at 7:00 PM and will then and
there consider the sale and terms of development of the property located at the northeast
intersection of Hwy 55 and Schaper Rd. to Infinity Motel Holdings, L.L.C., for
redevelopment pursuant to Minnesota Statutes Section 469.029. The legal description of
the property is as follows:
Lot 1, Block 2, Schaper Addition
The proposal is to construct a Super America gas station, car wash and convenience store
and a neighborhood service retail building. All interested parties may appear in person or
by counsel and be heard.
BY THE HOUSING AND REDEVELOPMENT AUTHORITY
IstThomas D. Burt, HRA Director