HomeMy WebLinkAboutHRA Resolution No. 2013-005 1st Amend to Purchase Agreement 3930 West 49 1/2 Street RESOLUTION NO. 2013-05
AUTHORIZING FIRST AMENDMENT TO PURCHASE AGREEMENT
FOR PROPERTY AT 3930 WEST 49-1/2 STREET
WHEREAS, on February 5, 2013, the Edina Housing and Redevelopment Authority (HRA) approved
a purchase agreement to acquire real property located at 3930 West 49-1/2 Street; and
WHEREAS, the HRA and property owner executed the agreement on February 11, 2013; and
WHEREAS, during the course of the HRA's due diligence, strong evidence has emerged to indicate
the presence of environmental contamination on the site consistent with dry cleaning operations; and
WHEREAS, additional time is needed to further study the environmental conditions, determine a
remediation strategy, if necessary and negotiate potential changes to the terms of the purchase agreement;
and
WHEREAS, the property owner is willing to extend the due diligence period to determine a
mutually agreeable course of action.
NOW, THEREFORE, BE IT RESOLVED, the Edina Housing and Redevelopment Authority approves the
First Amendment to the Purchase Agreement for the property located at 3930 West 49-1/2 Street and
• authorizes the Chair and Executive Director to execute the documents necessary to purchase the property.
BE IT FURTHER RESOLVED, that in the event the Seller fails to execute the First Amendment by Monday,
April 8, 2013, the Executive Director is authorized to terminate the original purchase agreement within the
time period provided for termination under Paragraph 10 of the Purchase Agreement.
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Dated: April 5, 2013.
Attest:
Ann Swenson,Secretary Ja es B. Hovland, Chair
STATE OF MINNESOTA)
COUNTY OF HENNEPIN) SS
CITY OF EDINA )
CERTIFICATE OF EXECUTIVE DIRECTOR
I, the undersigned duly appointed and acting Executive Director for the Edina Housing and Redevelopment Authority do hereby
certify that the attached and foregoing Resolution is a true and correct copy of the Resolution duly adopted by the Edina Housing
and Redevelopment Authority at its Special Meeting of April 5,2013,and as recorded in the Minutes of said Special Meeting.
WITNESS my hand and seal of said City this - day of
J i
i
xecutive Director
CITY OF EDINA
4801 West 50th Street• Edina,Minnesota 55424
www.EdinaMN.gov•952-927-8861 • Fax 952-826-0389