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HomeMy WebLinkAboutResolution 2023-11 Revised Authorizing ClosingCity of Corcoran County of Hennepin State of Minnesota RESOLUTION NO. 2023-11 Motion By: Bottema Seconded By: Vehrenkamp January 26, 2023 A RESOLUTION AUTHORIZING CLOSING ON THE PURCHASE OF CERTAIN REAL PROPERTY WHEREAS, Hope Ministries International, Inc., a Minnesota non-profit corporation (the "Seller") is the owner of certain real property within the City of Corcoran, described on the attached Exhibit A (the "Subject Property"); and WHEREAS, the City Council previously approved and authorized execution of a purchase agreement between the City of Corcoran (the "City") and Seller, contemplating terms of sale of the Subject Property. Said purchase agreement was fully executed on November 16, 2022; and WHEREAS, the parties have entered into a First Amendment to the purchase agreement which extends the maximum closing date and memorializes the parties' agreement to have the purchase price paid via a combination of cash at closing and a credit for costs incurred separately by the City on Seller's behalf, as a part of a different land use application; and WHEREAS, the City and the Seller now desire to close on the purchase and sale of the Subject Property to the City, and the City desires to authorize payment of the purchase price and authorize the Mayor and the Administrator or their respective designees to execute any and all documents necessary and proper to facilitate closing of the transaction. NOW THEREFORE BE IT RESOLVED, the City Council of the City of Corcoran hereby authorizes City staff t0 make payment of the purchase price for the Subject Property and further authorizes the Mayor and the Administrator or their respective designees to execute any and all documents necessary and proper to facilitate closing of the transaction to purchase the Subject Property from Seller. VOTING AYE ® McKee, Tom ® Bottema, Jon ® Nichols, Jeremy ® Schultz, Alan ® Vehrenkamp, Dean VOTING NAY ❑ McKee, Tom ❑ Bottema, Jon ❑ Nichols, Jeremy ❑ Schultz, Alan ❑ Vehrenkamp, Dean Whereupon, said Resolution is hereby declared adopted on this 26t" day of January 2023. � om rnc�ee - mayor ATTEST: Miche e Friedrich —City Clerk City Seal City of Corcoran County of Hennepin State of Minnesota ON I • I • • 1 The "Subject Property" January 26, 2023 Lot 2, Block 1, Hope Place Second Addition, Hennepin County, according to the record plat thereof.