City of Blaine Anoka County, Minnesota - File #: EDA RES 19-06

• File #: EDA RES 19-06
• Version: 1
• Name: Approve Purchase of Vacant Lot Hwy 65 and 105th
• Type: EDA Resolution
• Status: Passed
• File created: 7/8/2019
• In control: EDA
• On agenda: 7/8/2019
• Final action: 7/8/2019
• Title: APPROVE PURCHASE OF VACANT LOT ON HIGHWAY 65 AND 105TH AVENUE NE. (PID 20-31-23-13-0019)
• Sponsors: Erik Thorvig

Date	Ver.	Action By	Action	Result
7/8/2019	1	EDA	Adopted	Pass

ECONOMIC DEVELOPMENT AUTHORITY- Erik J. Thorvig, Economic Development Coordinator

Title

APPROVE PURCHASE OF VACANT LOT ON HIGHWAY 65 AND 105^TH AVENUE NE. (PID 20-31-23-13-0019)

Background

There is a vacant lot directly south of Culver’s on Highway 65, north of 105^th Ave that is for sale. The asking price is $375,000 and has been for sale for over a year. Last August, the EDA purchased the property at 1409 105^th Ave to plan for redevelopment of the corner of 105^th Ave and Highway 65. The area is identified as a redevelopment area in the 2040 Comprehensive Plan with the specific strategy of assembling properties from willing sellers. When the area was discussed at a city council workshop last summer, the city council discussed whether it made sense to purchase this property. Staff believes it makes sense to purchase the property to prevent a standalone development that could compromise the redevelopment of the corner properties. Several developers have looked at this corner and having additional land under control of the EDA will make redevelopment of the corner more feasible.

At the June 10, 2019 workshop, direction was given to staff to negotiate a purchase price. The agreed upon purchase price is $350,000. The owner would also like a deed restriction on the property to prevent a quick-serve restaurant. The owner also owns the Culver’s property and wants to prevent future competition.

Funds for the purchase will come from pooled redevelopment TIF. These funds are specifically used for property acquisition.

Recommendation

Approve the attached resolution for purchase of property.

Body

BE IT RESOLVED by the Board of Commissions (the “Board) of the Blaine Economic Development Authority (the “EDA”), as follows:

WHEREAS, it is one of the goals and purposes of the Blaine EDA to improve the community, strengthen the tax base and enhance employment opportunities; and

WHEREAS, the corner of 105^th Ave. and Highway 65 is identified as a redevelopment area in the 2030 and 2040 Comprehensive Plans; and

WHEREAS, the Comprehensive Plan identifies the strategy of acquiring property in this area when it is available; and

WHEREAS, direction was provide at the June 10, 2019 workshop to negotiate a purchase price; and

WHERAS, an agreed upon price is $350,000.

NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the Blaine Economic Development Authority, City of Blaine, Minnesota, that the President and Executive Director of the Blaine Economic Development Authority are here authorized to execute any and all agreements and documents for purchase of property with PID 20-31-23-13-0019 legally described as Outlot A, Wolf Addition.

PASSED by the Blaine Economic Development Authority this 8^th day of July, 2019.