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HomeMy WebLinkAbout1981-08-03 HRA Regular Meeting MINUTES OF HOUSING AND REDEVELOPMENT AUTHORITY OF EDINA AUGUST 3, 1981 7:00 P.M. The Housing and Redevelopment Authority of Edina met at 7:00 p.m. in the Edina City Council Chambers. Present were Members Bredesen, Richards, Schmidt, Turner and Courtney. MINUTES of July 6, 1981, were approved as submitted by motion of Member Schmidt, seconded by Member Richards. Ayes: Bredesen, Richards, Schmidt, Turner, Courtney Nays: None Motion carried. AMENDMENT TO SOUTHEAST EDINA REDEVELOPMENT PLAN CONTINUED INDEFINITELY. As recommended by Mr. Hughes, Member Bredesen's motion was seconded by Member Turner, continuing indefinitely consideration of an amendment to the Southeast Edina Redevelopment Plan. Ayes: Bredesen, Richards, Schmidt, Turner, Courtney Nays: None Motion carried. WINFIELD PROPERTY PURCHASE AUTHORIZED. Mr. Rosland recalled that the City has, for some time, been working with Winfield Development toward development of a Mixed Development District in the area lying West of York Ave. and South of W. 76th Street, but that plans have not been developing smoothly. He explained the present proposal to purchase the land from the Windfield Developments at their present direct cost of $3,300,000.00. He advised that the reason for the pur- chase at this time is to take the land out of the high interest costs that the City will eventually have to pay, as well as to provide time for the City to develop and bring to fruition the Mixed Development District. Mr. Rosland explained that the purchase of the land at this time will not be considered the final purchase price, since this price still has to be negotiated together with other related matters involved in this proposed project. Council was further advised that, if, for any reason the project does not evolve in its present form, Winfield will be provided the opportunity to repurchase the property for redevelopment purposes pursuant to the Southeast Edina Redevelopment Plan at any time within twelve months from the time the project is aborted. Mr. Rosland explained that the repurchase price would be the same price as that paid by the City, together with the carrying costs incurred by the City in the form of inter- est, taxes, assessments, attorneys' fees and other costs incurred in connection with the sale of bonds to finance this purchase and in owning the property. Mem- ber Richards thereupon offered the following resolution and moved its adoption: RESOLUTION AUTHORIZING PURCHASE OF WINFIELD DEVELOPMENTS, INC. , PROPERTY BE IT RESOLVED that the Edina City Council does hereby authorize purchase of the following described property from Winfield Developments, Inc. , for a cost of $3,300,000.00, with the condition that, if the proposed mixed development pro- ject does not evolve in its present form, Winfield Developments, Inc. , will be provided the opportunity to repurchase the property for redevelopment purposes pursuant to the Southeast Edina Redevelopment Plan at any time within twelve months from the time the project is aborted, and further with the condition that the repurchase-price would be the same as that paid by the City of Edina, to- gether with the carrying costs incurred by the City in the form of interest, taxes, assessments, attorneys' fees and other costs incurred in connection with the sale of bonds to finance this purchase and in owning the property: That part of the West 500.5 feet of the East 859.375 feet of the Southeast • Quarter of the Southwest Quarter of Section 32, Township 28, Range 24, which lies Westerly and Southerly of the center line of York Ave. South, as said center line is described in Book 73 of Hennepin County Records; page 4017939; and That part of the West 193.875 feet of the East 358.875 feet of the North 1211.68 feet of the Southeast Quarter of the Southwest Quarter, Section 32, Township 28, Range 24, lying Southerly of the center line of York Ave. South, as said center line is described in Book 73 of Hennepin County Records, page 4017939, according to the Government Survey thereof; and That part of the South Half of the Southwest Quarter of Section 32, Town- ' ship 28, Range 24, described as beginning at a point on the South line thereof 859.375 feet West along said South line from the Southeast corner of the Southwest Quarter of said Section 32; thence West along said South Line 445.5 feet; thence North, parallel to the East Line of said South- west Quarter to the North line of the South half of the Southwest Quarter of said Section 32. Thence East along said North Line 445.5 feet, more or less, to an intersection with a line drawn North parallel to the East Line of said Southwest Quarter, from the point of beginning; thence South along said last described parallel line to the point of beginning, all situated in Hennepin County, Minnesota, and registered as .is evidenced by Certificate of Title No. 597374, except however, any part of the above property that may be in Bloomington. Motion for adoption of the resolution was seconded by Member Turner. Rollcall: Ayes: Bredesen, Richards, Schmidt, Turner, Courtney • Nays: None Resolution adopted. SALE OF GENERAL OBLIGATION BONDS REQUESTED TO CONSUMMATE PURCHASE OF WINFIELD DEVELOPMENTS, INC. , PROPERTY. Pursuant to being granted authority to purchase the property of Winfield Developments, Inc. , Member Richards offered the follow- ing resolution and moved its adoption: RESOLUTION BE IT RESOLVED by the Housing and Redevelopment Authority of Edina that the Edina City Council is hereby requested to sell bonds for the purchase of the Winfield Developments, Inc. , property, with principal and interest on said bonds to be paid out of the tax increments from the Southeast Edina Redevelopment Area. Motion for adoption of the resolution was seconded by Member Turner. Rollcall: Ayes: Bredesen, Richards, Schmidt, Turner, Courtney Nays: None Resolution adopted. ACQUISITION OF LAND FOR ELERLY HOUSING REPORT CONTINUED TO AUGUST 17,1981. As recommended by Mr. Hughes, Member Schmidt's motion was seconded by Member Brede- sen, continuing the report on acquisition of land for elderly housing until Aug- ust 17, 1981. Rollcall: Ayes: Bredesen, Richards, Schmidt, Turner, Courtney Nays: None Motion carried. Member Schmidt's motion for adjournment was then seconded by Member Bredesen. Adjournment at 7: 15 p.m. Respec tfy11 submitt , L. Hughes Executive Director