HomeMy WebLinkAboutResolution No. 2022-06 Approving Contract for Private Development and Sale of Property to United PropertiesEDINA HOUSING AND REDEVELOPMENT AUTHORITY
HENNEPIN COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 2022-06
RESOLUTION APPROVING CONTRACT FOR
PRIVATE DEVELOPMENT AND SALE OF PROPERTY
TO UNITED PROPERTIES RESIDENTIAL, LLC
WHEREAS, the Board of Commissioners (the "Board") of the Edina Housing and
Redevelopment Authority ("Authority") intends to plat the certain real property legally described
in Exhibit A ("Authority Property") as Grandview Yard Addition, to consist of three lots;
WHEREAS, the Authority and United Properties Residential LLC, a Minnesota Limited
Liability Company ("Developer") have negotiated a Contract for Private Development attached
hereto as Exhibit B ("Contract") that includes the sale of a portion of the Authority Property to be
platted as the most southerly lot of the Grandview Yard Addition plat, consisting of approximately
1.69 acres ("Property");
WHEREAS, the Contract requires the Developer to construct on the Property a multi-
story limited equity senior housing cooperative consisting of approximately 90 units containing a
mixture of unit sizes at both market and affordable prices as further defined and depicted in the
Contract ("Minimum Improvements");
WHEREAS, the Authority believes that the sale of the Property pursuant to the terms of
the Contract for Private Development is in the best interest of the Authority, City of Edina, and its
residents;
WHEREAS, the Board, after proper published notice, held a public hearing at
approximately 7:30 a.m. on May 19, 2022, with regard to the sale of the Property;
WHEREAS, all requirements of Minnesota Statutes, Section 469.029 regarding the sale of
the Property have been satisfied.
CITY OF EDINA
4801 West 50th Street • Edina, Minnesota 55424
EdinaMN.gov • 952-927-8861
HRA Resolution 2022-06 Page 2
NOW, THEREFORE, BE IT RESOLVED by the Board:
The Contract by and between the Authority and Developer is hereby approved. The
President and Secretary are authorized and directed to execute the Contract.
2. The President, Secretary and City Attorney are autho ized and directed to execute
and record all documents necessary to convey the P operty and comply with the
terms of the Contract.
Approved by the Board on June 2, 2022.
Chair
ATTEST:
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�mes Pierce, Secretary
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 Housing and Redevelopment Authority of
Edina, Minnesota, do hereby certify that the attached and foregoing Resolution is a true and correct copy of the
Resolution duly adopted by the Housing and Redevelopment Authority of Edina, Minnesota at its Meeting of June 2,
2022, and as recorded in the Minutes of said Meeting. 1
WITNESS my hand and seal of said City this 2"d day of 30 k1b 2022.
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Scott Neal, xecutive Directo
EXHIBIT A
LEGAL DESCRIPTION OF AUTHORITY PROPERTY
Lots 2, 3, 4, 5, 6, 7, 8, 9 and 10;
The East 90 feet of Lots I I to 19 inclusive;
all in Block 2, "Grand View Heights".
That part of Government Lot 8, Section 28, Township 117, Range 21, lying North of the center
line of Eden Avenue and East of a line drawn parallel to the main track of the Minneapolis,
Northfield and Southern Railway from a point on the North line of said Government Lot 8
distant 582 feet East from the Northwest corner of said Government Lot 8.
EXHIBIT B
CONTRACT FOR PRIVATE DEVELOPMENT
This page is blank. Contract is attached.