15-06 - 09-16 - Approve Conditional Sale for Global One Resolution 15-06 September 16, 2015
Commissioner Harris introduced the following and moved its adoption:
RESOLUTION APPROVING CONDITIONAL SALE OF CERTAIN
REAL PROPERTY FOR THE DEVELOPMENT OF
RENTAL APARTMENTS AND SENIOR HOUSING
(Global One Golden Valley, L.L.C.)
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 1-394 Corridor Redevelopment Plan (formerly the Golden Hills
Redevelopment Plan) as adopted in 1984 and amended from time to time; and,
WHEREAS, the 1-394 Corridor Redevelopment Plan contemplates the
redevelopment of the East Area; and,
WHEREAS, Global One Golden Valley, LLC ("Developer") would like to develop an
approximately 303-unit, market-rate, six-story apartment building with underground and
surface parking and an approximately 107-unit, seven-story senior apartment building with
underground parking; and,
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 1-394 Corridor Redevelopment Area; and,
WHEREAS, the HRA has provided for the determination of the use value of the real
property contemplated by the Developer's proposal; and,
WHEREAS, in April of 2012 the HRA authorized the proposed sale of the property
and approved the Private Development Agreement by adopting Resolution 12-04; and,
WHEREAS, various circumstances have resulted in a three year delay in the sale of
the property and changes to the development proposal requiring the consideration of a new
Resolution; and
WHEREAS, pursuant to Minnesota Statutes §469.029, the HRA has duly given
notice in the form attached as Exhibit A of a new public hearing on the proposed sale of the
property described therein as 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 has been given and a public hearing has been held thereon, all in
accordance with the provisions of Minnesota Statutes §469.029; and,
2. The use of the Subject Property proposed by the Developer is reasonably
within the overall guidelines of the 1-394 Corridor Redevelopment Plan; and,
Resolution 15-06 - Continued September 16, 2015
3. The use value of the Subject Property is that value established by
agreement between the Minnesota Department of Transportation and the HRA; and,
4. In consideration of the restrictions on the sale and use of the Subject
Property imposed by Minnesota Statute §469.029 and the restrictions imposed by the 1-394
Corridor Redevelopment Plan, sale of the Subject Property to the HRA at the value
established by the Minnesota Department of Transportation is appropriate.
BE IT FURTHER RESOLVED that:
1. The sale of the Subject Property to the Developer with the terms and
conditions set forth in the Private Development Agreement as approved by the HRA in
Resolution 12-04 is reaffirmed; and,
2. The sale of the Subject Property to the Developer, further subject to the
terms and conditions set forth in the First Amendment to the Private Development
Agreement attached hereto as Exhibit B, is hereby approved; and,
3. 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,
4. 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 the First Amendment; and,
5. The 1-394 Corridor Redevelopment Plan is hereby amended to the extent
that the Developer's proposal embodied in the First Amendment to the Private
Development Agreement attached hereto as Exhibit "B" so modifies it.
teven T Schmidgall, Chair
ATTEST:
TimotT4N. Cruikshank, Executive Director
The motion for the adoption of the foregoing resolution was seconded by Commissioner
Fonnest, upon a vote being taken thereon, the following voted in favor thereof: Schmidgall,
Clausen, Fonnest, Harris and Snope; 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 Executive Director.
Resolution 15-06 - Continued September 16, 2015
EXHIBIT A
NOTICE OF PUBLIC HEARING
APPROVAL OF SALE OF REAL PROPERTY IN THE NORTHWEST QUADRANT OF
1-394 AND HIGHWAY 100
TO GLOBAL ONE GOLDEN VALLEY LLC 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 Wednesday, September 16, 2015, at 5:45 pm and will then and
there consider the proposed sale and terms thereof for the development of property owned
by the Minnesota Department of Transportation at the northwest quadrant of
1-394 and Highway 100, as set forth on the attached map for redevelopment pursuant to
Minnesota Statutes Section 469.029.
The proposal is to construct an apartment building with approximately 303 units and a
senior housing facility with approximately 107 units, both with underground and surface
parking. All interested parties may appear in person or by counsel and be heard.
All interested persons may appear in person or by counsel and present their views orally or
in writing. If you require auxiliary aids or services to participate or communicate in this
meeting, please contact Kris Luedke at 763-593-8012 (TTY: 763-593-3968) 48 hours
before the meeting time to make a request. Examples of auxiliary aids or services may
include sign language interpreter, assistive listening device, accessible meeting location,
etc.
BY THE HOUSING AND REDEVELOPMENT AUTHORITY
/s/Thomas D. Burt, HRA Director