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07-25-06 Special REVISED CITY OF RICHFIELD, MINNESOTA TUESDAY, JULY 25,2006 SPECIAL HOUSING AND REDEVELOPMENT AUTHORITY MEETING RICHFIELD CITY HALL COUNCIL CHAMBERS 6700 PORTLAND AVENUE 4:45 P.M. Call to order Roll call 1. Consideration of resolution approving first amended stipulation of final settlement with Marvin Johnson, owner of Air Care-Go, 6300-20 Cedar Avenue (tabled from July 17, 2006) Staff Report No. 51 Notes: 2. Public hearing regarding resolution authorizing sale of real property to Ryan Companies US, Inc.; Cedar Point Commons Staff Report No. 52 Notes: 3. Matters related to contract for private redevelopment and escrow agreement with Ryan Companies US, Inc. Notes: 4. Reconsideration of assignment of mortgage for 7445-10th Avenue to C&M Real Estate Services, Inc. Staff Report No. 53 Notes: Adjournment Auxiliary aids for individuals with disabilities are available upon request. Requests must be made at least 96 hours in advance to the City Clerk at 612-861-9738. AGENDA ITEM # ') ] REpORT # 1 STAFF REpORT RICHFIELD SPECIAL HOUSING AND REDEVELOPMENT AUTHORITY MEETING JULY 25, 2006 REpORT PREPARED By: PAT SMITH, COMMUNITY DEVELOPMENT MANAGER NAME, nnE REpORT PRESENTER: P AT SMITH, COMMUNITY DEVELOPMENT MANAGER NAME, nnE REVIEWED BY EXECUTIVE DIRECTOR: DEPARTMENT DIRECTOR REVIEW: ITEM FOR HRA CONSIDERATION: Consideration of approval of an amended stipulation of final settlement with Marvin Johnson, owner of Air Care-Go, located at 6300-20 Cedar Avenue. 1. RECOMMENDED ACTION: By Motion: Adopt the attached Resolution approving the First Amended Stipulation of Final Settlement with Marvin Johnson, owner of Air Care-Go, located at 6300-20 Cedar Avenue. I II. BACKGROUND I This item was tabled from the July 17 regular Housing and Redevelopment Authority (HRA) meeting until July 25 in order for the property owners of 6300-20 Cedar Avenue to sign the proposed settlement. The following information and proposed settlement remain the same as the staff report for the July 17 meeting except for the reference to the HRA meeting date. On November 21 , 2005 the Housing and Redevelopment Authority (HRA) authorized eminent domain proceedings for 6300-20 Cedar Avenue. On February 27,2006 the HRA approved a settlement with Mr. Marvin Johnson, owner of 6300-20 Cedar Avenue. Under the settlement, the HRA paid Mr. 072506 - 6300 Cedar Settlement Johnson $675,000 for his real estate. Mr. Johnson would vacate the property no later than November 1, 2006. This property is a key location within the site and the HRA is responsible for providing this site to Ryan. If it isn't available when needed by Ryan, the delays could be costly to the HRA. For example, if Mr. Johnson's property was unavailable until November 1 st, site grading by Ryan Companies US, Inc. (Ryan) would have to occur in stages and utilities would need to be relocated around the property. Under the proposed First Amended Stipulation, the HRA would deposit $100,000 with the District Court and Mr. Johnson would vacate the property on or before September 30,2006, at which time Mr. Johnson would receive the deposit. The attached proposed Final Amended Stipulation is in a draft form. The final proposed First Amended Stipulation will be presented to the HRA at their special meeting on July 25th. I III. BASIS OF RECOMMENDATION I I A. POLICY I . On July 27,2005 the HRA entered into a Contract for Private Development with Ryan Companies US, Inc. I B. CRITICAL ISSUES I . This proposed First Amended Stipulation best meets the needs of Mr. Johnson, Ryan and the HRA. I C. FINANCIAL I . The $100,000 is available from HRA funds. I D. LEGAL I . HRA legal counsel has been an integral part of the negotiation process and drafted the proposed First Amended Stipulation. I IV. ALTERNATIVE RECOMMENDATION(S) . Reject the proposed settlement. I V. ATTACHMENTS . Resolution . Draft First Amended Stipulation of Final Settlement with Mr. Johnson VI. PRINCIPAL PARTIES EXPECTED AT MEETING . HRA legal council 072506 - 6300 Cedar Settlement HRA RESOLUTION NO. APPROVING AMENDMENT TO SETTLEMENT OF EMINENT DOMAIN PROCEEDING WHEREAS, the Board of Commissioners is the official governing body of the Housing and Redevelopment Authority in and for the City of Richfield ("HRA"); and WHEREAS, on November 21, 2005, by Resolution No. 958 the Board of Commissioners of the HRA authorized and directed the acquisition of the real estate which is legally described in Exhibit A attached hereto ("Subject Property") by use of eminent domain proceedings; and WHEREAS, counsel for the HRA filed a petition in the district court for Hennepin County on December 7, 2005 to acquire the Subject Property by eminent domain proceedings and scheduled a hearing before the judge to whom the matter had been assigned for February 6, 2006; and WHEREAS, counsel for the owners of the Subject Property (listed on Exhibit B, hereafter "Owners") advised counsel for the HRA that the Owners objected to the taking of the Subject Property so that the attorneys asked the court to schedule a trial in district court for consideration of whether there is a public purpose and a necessity for the taking of the Subject Property; and WHEREAS, on February 27,2006, the HRA approved a mediated settlement agreement between the HRA and the Owners under which the HRA paid a total of $645,000 to the Owners and deposited $30,000 with the District Court Administrator to be held until after the Owners vacate the Subject Property and the HRA agreed that the Owners could occupy the Subject Property until November 1, 2006, at the Owners' option; and WHEREAS, the HRA may incur the obligation to pay the redeveloper of the Subject Property a significant amount for extraordinary damages if the HRA is not able to deliver possession of the Subject Property until after November 1, 2006; and WHEREAS, HRA staff have negotiated an amendment of the Stipulation of Final Settlement under which HRA will have the option to advance the date by which Owners will be obliged to vacate the Subject Property to on or before September 30, 2006, which would be financially beneficial to the HRA. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RICHFIELD IN REGULAR MEETING ASSEMBLED, that the First Amended Stipulation of Final Settlement attached hereto as Exhibit B is hereby approved and the Executive Director and the Chair of the HRA are authorized to execute said agreement and take all steps necessary in accordance with said agreement, Adopted by the Housing and Redevelopment authority in and for the City of Richfield, Minnesota this 25th day of July, 2006. Suzanne M. Sandahl, Chair ATTEST: Donna Drummond, Secretary EXHIBIT A Leqal Description of Subiect Property 6300 Cedar Avenue South 26-028-24-11-0061 Richfield, MN 6320 Cedar Avenue South 26-028-24-11-0060 Richfield, MN The North 33 feet of Lot 4, Block 3; All of Lot 5, Block 3; and the South 17 feet of Lot 6, Block 3, all in "Iverson's Third Addition," Hennepin County, Minnesota. (Abstract property) The South 67 feet of Lot 4, Block 3, "Iverson's Third Addition," Hennepin County, Minnesota. (Abstract property) . Exhibit B Case Type: Condemnation STATE OF MINNESOTA DISTRICT COURT COUNTY OF HENNEPIN The Housing and Redevelopment Author" in and for the City of Richfield, a public b corporate and politic under Minnesota law, Petitioner, vs. C Ivers of Rich parties unk heirs or devise Marvin F. Johnson and Debor Johnson, as joint tenants; Richfield Trust Co., by merger now know Bank; State Farm Auto Insurance, Farm Mutual Auto Insurance Nancy K. Olson; Hy's Incorporated, a Minnes Mutual Service Casu merger now known Insurance Company, a CenterPoi Res Delaw dba Nort Co Mi SP; U. est rporation, a F. Johnson, ciates; AIR corporation; rporation; City nepin; all other r with unknown uses, if any, FIRST AMENDED STIPULATION OF FINAL SETTLEMENT Respondents THIS AGREEMENT is entered into this _ day of July, 2006, by and among The Housing and Redevelopment Authority in and for the City of Richfield, a public body corporate and politic under Minnesota law, located at 6700 Portland Avenue, Richfield, Minnesota 55423, Petitioner herein ("HRA") and Respondents Marvin and Deborah Johnson and AIR CARE-GO, INC. (collectively "Objecting Respondents" or "Johnson"), located at 6300 Cedar Avenue South, Richfield, Min 1.01. HRA commenced this proc 6300 and 6320 Cedar Avenue, Richfield, attached hereto and incorporated herein ("Su 1.02. Pursuant to the Stipulatio matter, dated March 21, 2006 ("Ori Johnson agreed upon the total settlement of all of Johnson' .. H RA (except relocation Exhibit A e paid to Johnson in final aking of the Subject Property by ely negotiated and paid) and that of Final Settlement, Johnsons delivered a deed RA, dated April 3, 2006, and pursuant to the Findings of Order Transferring Title and Possession in this matter ffice of the District Court Administrator and the Receipt of trator filed April 26, 2006, HRA deposited the Deposit with the District Court Administrator. 1.04. HRA has requested that Johnson agree to amend the Stipulation of Final Settlement to give the HRA the option to require Johnson to deliver possession of the Subject Property to HRA on or before September 30, 2006. The parties intend that this First Amended Stipulation of Final Settlement describe the terms under which Johnson will agree to modify the Stipulation of Final Settlement as requested by HRA. 1.05. As modified, this agreement shall of Final Settlement by, between and among the partie NOW, THEREFORE, in considerati other good and valuable consideration, the acknowledged, the parties hereto hereby 2.01. Incor oration of Recit Stipulation. 2.02. Agreement, Objecting R re made a part of this and all objections which they may . Court both as to the subject matter and as to purpose and necessity of the HRA's taking of the lity of the process followed by the HRA in creation of the Ian and the Redevelopment Project, the adoption of the eminent domain resolution and all other proceedings relating to the acquisition by the HRA of the Subject Property; and . (d) The requirements of Minn. Stat. ~ 117.042 that the HRA as condemning authority give Objecting Respondents at least 90 days notice prior to the transfer of title and possession of the Subject Property to the HRA (subject to the provisions of this Agreement). 2.03. Entry of Orders. Subject to pe under this Agreement, Objecting Respondents, in accordance wit agree to the issuance by the above Court (a) and Appointing Condemnation Co above matter in the form atta oving Petition") in the (b) Findings of Transfer of Title and and Order Authorizing rder") in this matter in the form attached hereto a The provisions of the Mediated 'es which is attached hereto as Exhibit Bare HRA and Johnson agree that, provided Johnson itle to the Subject Property, HRA shall pay Johnson total of the Subject Property and to extinguish all claims of spondents named herein of $675,000 ("Settlement Amount"), including reimbursement of appraisal fees and interest (not including relocation benefits) as follows: (a) On or before March 31, 2006, the HRA will deposit $30,000 (the "Deposit") with the District Court Administrator. (b) On or before March 31, 2006, the HRA will pay Johnson $645,000 ("Settlement Sum") which is agreed market value and just compensation due and owing for la ixtures in the Subject Property, pursuant to this proceedin 2.05A.lnducement Deposit. Objecting Respondents are obliged to vaca November 1, 2006 to on or before Septe (the "Inducement Deposit") with the 1, 2006, which amount shall remai of the Subject Property by 0 2.13 of this Agreement. September 1, by which hall deposit $100,000 n or before September security to assure vacation rovided in Sections 2.09 through Inducement Deposit on or before In the event HRA fails to make the ber 1, 2006, Objecting Respondents shall be roperty on or before November 1, 2006 as provided in Commissioners Award. Petitioner and Objecting e issuance by the Court Appointed Commissioners herein of an award of damages in the total amount of $675,000 which is payable entirely to Objecting Respondents, as their interests may appear, and with $0 payable to all other respondents (except for any amount which may be payable to Hennepin County for real estate taxes payable in 2005 and previous years or to City of Richfield for special assessments levied or pending as of February 21, 2006). 2.07. Entry Upon Property. Petitioner, its agents and assigns, shall have the right upon reasonable notice at any time following e f this Agreement and prior to delivery of possession of the Subject Prop. espondents to HRA to enter upon the Subject Property for thep and borings, making surveys, employees and agents. 2.08. No SubleasinQ. or rerent the Subject Property to a will hold the HRA harmless, defe tenant not named in Exhibit or state law. of this Agreement and against the claims of any tion benefits pursuant to federal Objecting Respondents may continue to occupy 2006, if HRA makes the Inducement Deposit make the Inducement Deposit) provided that isting policies of comprehensive general public liability acts of AIR CARE-GO, INC. and all of its subcontractors, , representatives and guests on or about the Subject Property. All such insurance policies shall name the HRA as additional insured; (b) Maintain existing policies of automobile liability insurance (including owned, non-owned and hired or otherwise employed vehicles); (c) Pay the cost of all sewer, water, electric, natural gas, telephone, garbage collection and disposal, cable television and other utility services which are provided to the Subject Property during the period of AIR CARE-GO's occupancy of the Subject Property (collectiv Service"). However, AIR CARE-GO, INC. shall not have the state taxes or special assessments during the Possessio (d) Pay the cost of any r in its sole discretion (notwithstanding the foregoing, CARE-GO's failure to unde become a hazard to public not be precluded fro or otherwise addr Subject Property, to ce, the HRA and City shall tory right to abate the nuisance y elects to do so, the HRA or City undertaking such repairs as the City in its ssary to protect the public health or safety or equired Repairs"); II personal property, garbage and debris from the to vacation of the Subject Property by AIR CARE-GO, INC.; (f) Pay HRA a monthly rent ("Rent") of $200 payable on or before the first day of each month following payment by HRA to Objecting Respondent of the Settlement Amount and on the first day of each month thereafter until the earlier of the following: (i) AIR CARE-GO, INC. delivers possession of the Subject Property to HRA, or (ii) September 30, 2006 (or November 1, 2006 if the HRA does not make the Inducement Deposit). the event of Objecting Respondents' failure to timely vacate the S notice by HRA to Objecting Respondents i be entitled to seek an order of the Distr compelling delivery of possession of the Su provisions of this Agreement, which or costs and disbursements in favor of 2.11. 9117.043 rd of attorneys fees, . ce in accordance with this Agreement, Possession Subject Property for the full nt until September 30, 2006 (or s not make the Inducement Deposit). If AIR CARE- operty on or before September 30, 2006 (or make the Inducement Deposit) and to deliver IR CARE-GO, INC. shall be in default under this A liquidated damages in the amount of $1 ,000 for each pse prior to AIR CARE-GO, Inc.'s vacation of the Subject limits of the Deposit including accrued interest ("Liquidated Damages"). 2.12. Payments From Deposit. If and to the extent that AIR CARE-GO, INC. fails to pay the cost of Utility Services, Required Repairs, Rent, Liquidated Damages or other amounts due from AIR CARE-GO, INC. to HRA pursuant to this Agreement which are attributable to AIR CARE-GO, INC.'s occupancy of the Subject Property after the Deposit, upon the affidavit of counsel for the HRA, the District Court Administrator shall disburse such amounts and the costs, disbursem reasonable attorney fees incurred by the HRA in recovering such amou and the Inducement Deposit. 2.13. Indemnitv. AIR CARE-GO, I mnify and hold the HRA harmless against any and all Property arising from the acts of Object' thereof), so long as AIR CARE-GO, INC. is permitted to in accordance with the provisions of this Agreement. 2.14. Continqencv. ent upon (a) execution of this Agreement by all parties' the Order Approving Petition; and . e date of this Agreement shall be the date of es, demands and requests required or permitted to be hall be in writing, and shall be personally delivered, ge paid, registered or certified, return receipt requested, or rnight delivery by a reputable overnight courier service, in any case addressed as follows: If to JOHNSON: Marvin F. Johnson and Deborah H. Johnson 6300 Cedar Avenue Richfield, MN 55423 With a copy to: Howard Roston, Esq. Malkerson, Gilliland, Martin LLP 1900 U.S. Bank Plaza 200 South Sixth Street Minneapolis, MN 55402-4511 If to HRA: Richfield HRA Attention: Bruce 6700 Portia v Richfield, 4 With a copy to: If to AIR CARE-GO, INC.: AIR At 6 With a copy to: artin LLP za treet 55402-4511 otice hereunder by notice given in accordance ays prior to the effective date of the address d given upon the earlier of personal delivery, two days days after depositing with such courier for delivery or 2.17. s. This Agreement shall be governed by the substantive law of the State of Minnesota. This Agreement may be executed in counterparts, each of which shall be deemed an original but which together shall constitute one and the same agreement. 2.18. Nondisparaqement. Each of the parties agree that the terms and conditions of this Agreement are fair and have been negotiated in good faith and that so long as they receive the bargained for considerations promised to them under this Agreement they will refrain from publication of oral 0 actions of other parties hereto in relation t th uisition of the Subject Property. 2.19. Waiver of Claims. A of the Settlement Amount, Johnson waives any a connection with HRA's acquisition of the damages, interest, attorneys fees, Johnson may otherwise be entitle ut not including relocation benefits. 2.20. Johnson hereby waive all further in this matter except as either may elect in order to that if Petitioner is not otherwise satisfied that Ie title to the Subject Property as respects the possible xhibit A, the Deposit shall remain on deposit with the ntil the claims, if any of such respondents in the Subject If Petitioner is not satisfied with the evidence of title provided by Objecting Respondents, Petitioner shall move the Court for an order with respect to other respondents named in Exhibit A pursuant to Minn. Stat. S 117.042 to acquire those interests and Objecting Respondents will appear and support an order determining that said other respondents have no interest in the Subject Property. OWNER nd Redevelopment or the City of Richfield By: Marvin F. Johnson tive And by: Deborah H. Johnson AIR CARE-GO, INC By: Marvin F. Johnson, its Pres. J. Lindall, #63277 .S. Bank Plaza South Sixth Street inneapolis, MN 55402 612) 337-9219 TTORNEYS FOR THE HRA OF RICHFIELD MALKERSON, GILLILAN LLP By: EXHIBIT A Parcel NO.1 (Abstract Property) (PID No. 26-028-24-11-0061) Property Address: 6300 Cedar Avenue, Richfield, MN 55423 Leqal Description of Subiect Property: All that part of Lot 4, Block 3, lying No and 33 feet South of the North line 0 the South 17 feet of Lot 6, Bloc according to the recorded plat the Minnesota. Together with abutting streets and accruing thereto upon vacation. Subject to drainage, utility and stre recorded plat. Subject to easements of record in Description of Takinqs: Th Interests Being Acquired Hy's Loan Minnesota corp Mutual Service Casualty Insurance Company, by merger now known as Country Mutual Insurance Company, an Illinois cor oration d dedicated on the Nature of Interest Fee owner Possible holder of an interest pursuant to judgment against Deborah Johnson ac uired in Case No. DCT J 96-11773. Possible holder of an interest pursuant to judgment against Debra Johnson acquired in Case No. DCPD 96-12367. Possible holder of an interest pursuant to judgment against Deborah Johnson ac uired in Case No. DCTJ 97-10977. Possible holder of an interest pursuant to judgment against Debra Johnson acquired in Case No. DCT J 0018075. . A-I Name Centerpoint Energy Resource Corp., a Delaware corporation, dba Minnegasco Northern States Power Company, a Minnesota corporation, dba NSP U.S. West now known as Qwest Corporation, a Colorado Corporation n interest pursuant to 0.4-98-2561, of Debra Marvin F. Johnson, dba Market Research Associates AIR CARE-GO, INC., a Minnesota corporation City of Richfield A-2 Parcel NO.2 (Abstract Property) (PID No. 26-028-24-11-0060) Property Address: 6320 Cedar Avenue, Richfield, MN 55423 Leqal Description of Subiect Property: The South 67 feet of Lot 4, Block 3, "Iverso to the recorded plat thereof, and situate in He ddition", according ty, Minnesota. Together with abutting streets and accruing thereto upon vacation. Subject to drainage, recorded plat. Subject to easements of record in favor 0 Description of Takings: The above Interests Being Acquired Mutual Company, b Country Mutual Illinois corporation urance known as ce Company, an Possible holder of an interest pursuant to judgment against Deborah Johnson ac uired in Case No. DCT J 96-11773. Possible holder of an interest pursuant to judgment against Debra Johnson acquired in Case No. DCPD 96-12367. Possible holder of an interest pursuant to judgment against Deborah Johnson ac uired in Case No. DCT J 97-10977. Possible holder of an interest pursuant to judgment against Debra Johnson acquired in Case No. DCT J 0018075. Centerpoint Energy Resource Corp., a Delaware corporation, dba Minnegasco Possible holder of an interest pursuant to Bankruptcy Case No. 4-98-2561, of Debra Johnson. A-3 Name Northern States Power Company, a Minnesota Corporation, dba NSP Nature of Interest Possible holder of an interest pursuant to Bankruptcy Case No. 4-98-2561, of Debra Johnson. Possible holder of an interest pursuant to Bankruptcy Case No. 4-98-2561, of Debra Johns Tenan U.S. West now known as Qwest Corporation, a Colorado Corporation Marvin F. Johnson, dba Market Research Associates AIR CARE-GO, INC., a Minnesota corporation City of Richfield Count of Henne in All other parties unknown, together with unknown heirs or devisees and spou if an t in the Subject A-4 Exhibit B This is a mediated settlement agreement ("Agreement") as of February 21,2006 between the City of Richfield Housing and Redevelopment Authority ("HRA") and Marvin and Deborah Johnson and AIR CARE-GO (collectively "Johnson"). Recitals: The HRA has commenced a condemnation action, -CV-05-18463 ("Action"). In the Action, the HRA is seeking to acquire identified in the Petition as Parcels 1, 2 an the Petition and the HRA's right to conde The HRA and the Johnsons ("Parties") desir terms of this Agreement. ce with the Now, therefore, for good valuable and su follows: 1. The H RA will pay to the as the fair market value building and fixtures that to the Property su to of $675,000 ("Settlement Sum") and owing for the land, pon providing marketable title as of the date hereof. 2. The HRA will R set forth in p er than April 1, 2006 (less the sum 3. e HRA shall deposit $30,000 with the Court (the e vacation of the Property by the Johnsons in ow. nt of the Settlement Sum is made the following shall occur: pulate that the Court may enter an order authorizing title transfer to the HRA upon the payment of the Settlement osit. Thereafter title shall transfer as provided for in the Minnesota Statutes. The HRA and the Johnsons will tually acceptable Court Order granting the HRA's Petition. b. The sons shall vacate from the Property no later than November 1, 2006, provided that, in their sole discretion, the Johnsons may vacate earlier upon 48 hours written notice to the HRA ("Vacation Date"). Nothing contained herein shall be construed as requiring the Johnsons to vacate prior to November 1, 2006. The HRA will make a diligent effort to obtain the necessary approvals to permit the Johnsons to remain until November 15, 2006. If the HRA is able to obtain such approvals, the Vacation Date shall be November 15, 2006 or such earlier date as the Johnsons may vacate in their sole discretion ("Extended Vacation Date"). 5. From March 1, 2006 through the Vacation Date, the Johnsons shall pay to the HRA rent in the sum of $200.00 per month ("Rent"). The Rent shall be paid by the fifth business day of each month. If the Johnsons elect to vacate earlier than November 1,2006 (or November 15, 2006) as set forth above in paragraph 4, Rent shall abate. 6. For as long as they are occupants of the any existing insurance in place and shall Property. 7. The Johnsons shall have no res against the Property from and a 8. Provided that the Johnsons vacate Extended Vacation Date), and pay vacation, the HRA shall stipulate th paid to the Johnsons. 9. In recognition that the buil Johnsons shall not be ob Property from and after protect health and safet 10. he HRA as set forth above, the ensation due and owing as a result ation of the y. Nothing contained herein, however, elease or waiver of any claim that the Johnsons may s under Minnesota Statutes Chapter 117 and the and Real Property Acquisition Policies Act of 2, sections 4601 to 4655, as amended by the Iform Relocation Assistance Act of 1987. and all claims it may have against the Johnsons arising Property. bject to approval of by the Board of Commissioners of the ebruary 27,2006 or it shall be void. In the event the approved on or before February 27, 2006 the parties shall he Court to continue the March 13, 2006 trial date to a mutually te. 13. Each of the parties shall pay their own attorneys fees and costs. A-6 Deborah H. Johnson The Housing and Redevelopment Authority in and for the City of Richfield ~ ,~ Executive Director and Marvin F. Johnson AIR CARE-GO, INC. b Marvin F Johnson, President Malkerson Gilliland Martin L b Howard A. Roston 260 A-7 AGENDA ITEM # 5 ? REpORT # ? ....... STAFF REpORT RICHFIELD SPECIAL HOUSING AND REDEVELOPMENT AUTHORITY MEETING JULY 25, 2006 REpORT PREPARED By: KA TIA MEDVETSKI, REDEVELOPMENT SPECIALIST NAME, TITLE REpORT PRESENTER: PATRICK SMITH, COMMUNITY DEVELOPMENT1iANAGER NAME, TITLE REVIEWED By EXECUTIVE DIRECTOR: DEPARTMENT DIRECTOR REVIEw: Er ITEM FOR HRA CONSIDERATION: Public hearing regarding consideration of a Resolution authorizing the sale of real property to Ryan Companies US, Inc. (Cedar Point Commons). 1. RECOMMENDED ACTION: Conduct and close the public hearing and by motion: Adopt the attached Resolution authorizing the sale of real property to Ryan Companies US, Inc. (Cedar Point Commons). I II. BACKGROUND I . The Contract for Private Development (Developer's Agreement) between the Richfield Housing and Redevelopment Authority (HRA) and Ryan Companies US, Inc. (Developer) for Cedar Point Commons (Development Project), and subsequent amendments thereto, contemplates certain land conveyances from the HRA to the Developer. . This action addresses the land owned by the HRA or to be owned by the HRA and which will be conveyed to the Developer. This is a public hearing on the conveyance to the Developer. 072506 SpecHRALandSaleRyan . Time is of the essence to process land sale transactions in order for the Development Project to proceed. . At this time, the sale of the real property indicated on the attached map and delineated in Exhibit A to the resolution to the Developer is being requested. . The resale of said property to the Developer will be undertaken in accordance with the Developer's Agreement. 1 III. BASIS OF RECOMMENDATION I 1 A. POLICY I . All real property conveyances are being undertaken in furtherance of redevelopment in accordance with the provisions of Sec. 11.7 of the Developer's Agreement. 1 B. CRITICAL ISSUES .1 . On June 26, 2006 the Planning Commission approved a Resolution determining that certain sales of real properties are consistent with the Richfield Comprehensive Plan. . On July 13 a legal notice of the public hearing for the sale of certain real property in the City to the Developer was published in the Sun Current newspaper. This notice was for the public hearing by the HRA on July 25,2006, a special HRA meeting. I C. FINANCIAL I . Land sales to the Developer will be made in accordance with the Developer's Agreement. I D. LEGAL I . Legal counsel has reviewed the attached Resolution and continues to work with staff on land sale matters. I IV. ALTERNATIVE RECOMMENDATION(S) 1 . Delay or do not approve the land sale to the Developer. I V. ATTACHMENTS . Resolution . Map I VI. PRINCIP AL PARTIES EXPECTED AT MEETING . N/A HRA RESOLUTION NO. RESOLUTION AUTHORIZING SALE OF REAL PROPERTY TO RYAN COMPANIES US, INC. WHEREAS, the Housing and Redevelopment Authority in and for the City of Richfield, Minnesota (the "HRA") desires to develop certain real property in accordance with a Contract for Private Development with Ryan Companies US, Inc. (the "Developer"), dated July 27,2005 (the "Contract") and an amended First Amendment, dated June 30, 2006, (collectively, the "Contract") said real property described in the attached Exhibit A; and WHEREAS, the HRA is authorized to sell real property within its area of operation after public hearing; and WHEREAS, a public hearing has been held after proper public notice. NOW, THEREFORE, BE IT RESOLVED., by the Housing and Redevelopment Authority in and for the City of Richfield: 1. A public hearing has been held and the real property listed in the attached Exhibit A is authorized to be sold to the Developer in accordance with the Contract. 2. The Chairperson and Executive Director are authorized to execute the necessary documents or other agreements as required to effectuate the sale to the Developer. Adopted by the Housing and Redevelopment Authority in and for the City of Richfield, Minnesota this 25th day of July, 2006. Suzanne M. Sandahl, Chair ATTEST: Donna Drummond, Secretary 072506 SpecHRALandSaleRyan EXHIBIT A Legal Descriptions of Properties 6300 Cedar Avenue S All that part of Lot 4, Block 3, lying Northerly of a line drawn parallel with and 33 feet South of the North line of said Lot 4; All of Lot 5, Block 3, and the South 17 feet of Lot 6, Block 3, all in "Iverson's Third Addition", according to the recorded plat thereof, and situate in Hennepin County, Minnesota. Together with abutting streets and alleys, vacated and to be vacated, accruing thereto upon vacation. Subject to drainage, utility and street easements as shown and dedicated on the recorded plat. Subject to easement of record in favor of City of Richfield, if any. 6320 Cedar Avenue S The South 67 feet of Lot 4, Block 3, "Iverson's Third Addition", according to the recorded plat thereof, and situate in Hennepin County, Minnesota Together with abutting streets and alleys, vacated and to be vacated, accruing thereto upon vacation. Subject to drainage, utility and street easements as shown and dedicated on the recorded plat. Subject to easement of record in favor of City of Richfield, if any. 6500 Cedar Avenue S All of Lot 6, and the North 25 feet of Lot 5, Block 1, "Iverson's Third Addition", according to the recorded plat thereof, and situate in Hennepin County, Minnesota Together with abutting streets and alleys, vacated and to be vacated, accruing thereto upon vacation. Subject to drainage, utility and street easements as shown and dedicated on the recorded plat. Subject to easement of record in favor of City of Richfield, if any. 6528 Cedar Avenue S The North 46 feet of Lot 2 and all of Lot 3, all in Block 1, "Iverson's Third Addition", according to the recorded plat thereof, and situate in Hennepin County, Minnesota Together with all hereditaments and appurtenances belonging thereto, subject to the following exceptions: easements of record. Between 6344 Cedar All of Lot 2, Block 3, Iverson's Third Addition, except the South 60 feet Avenue South and 6328 and except the North 40 feet thereof. Cedar Avenue South 072506 SpecHRALandSaleRyan i ---j , -----, ----~ _.~ ---j --1 ; _J -, ! I 1 __-.J I ---, [ --~ ! ----j i -, I r-------) TAFT PARK i 6315 L___ I 6321 . 6320 I '--_._~""".<'~'''! ,6327 l 6326 I i-.----+.,,~~"""'=~.,.~ ! 6333 '6332 I L-----_j,'~_..,.,."'"J i 6339 ; .6338 6345 i_____. 6401 6409 6421 6427 6433 6439 6445 6501 6509 6515 6521 6527 6528 [ j --, '. ! I t___-L-______,j 63RD ST. 6400 6408 6414 6420 6426 6432 6438 6444 65TH ST. 6500 t--_._'---4-~~ I ----~ j I ---i -J I I i f--.--i---- i I I I f----------i----- I . l I ~-----+-----m. , I , , 6508 6514 6520 ~6TH ST. j_-:-n_...-_,___ . , r' ------i----: ,----' ,--,~.~----j------_._--! L.--..-n___L_ I . i! '. J ' " I f------wb------i d- ----~-'200-i ~-- ---j i f.-~-+-- .- : I 1- ----J 600 . . . , L-....-~___._ L----J_______ ! i =J I ,-----y---..-- I i----!------ . , i.--.......___ -----1-.-.-___ ~_""_ , i 400 IIGIS/COMDEVlSTAFF/BILUPROJECTS/CEDAR PT REDEV ASSESSMT. APR , , -i I i..----.-.----..'--+-.---~-~ ui ~ ::t: I- ,... - , . . . . . t--------+--- ~ j r-----.'[------ , --~ , L_____j__. _ . j i . , '----~_._-- , . i i L____L__ , . . i----.----1-.--- j i ~u-.~_---- , i l_____ I i 1.-.._-'---___._.. IJ 6325 6333 r~'<<.-~' l 6405 f ! to.. I t>' ui ~ 0::: ~ w o 800 Feet ,... ,... ~ 3: ::t: C> 3: ~ Z :J a::: I- RICHFIELD HOUSING & REDEVELOPMENT AUTHORITY CEDAR POINT LAND CONVEYANCE PROPERTIES Legend D Cedar Point Project Boundary Land Sale to Ryan Companies US, Inc. ~ N July 25, 2006 AGENDA ITEM # 53 REpORT # z'l , ........ STAFF REpORT RICHFIELD SPECIAL HOUSING AND REDEVELOPMENT AUTHORITY MEETING JULY 25, 2006 REpORT PREPARED By: KELLY BERG, HOUSING COORDINATOR NAME, TITLE REpORT PRESENTER: BRUCE NORDQUIST, HOUSING AND REDEVELOPMENT~NAGER NAME, TITLE DEPARTMENT DIRECTOR REVIEW: REVIEWED BY EXECUTIVE DIRECTOR: ITEM FOR HRA CONSIDERATION: Reconsideration of approval regarding Assignment of Mortgage for 7445 10th Avenue to C & M Real Estate Services, Inc. 1. RECOMMENDED ACTION: By Motion: Approve attached Assignment of Mortgage for 744510th Avenue to C & M Real Estate Services, Inc. I II. BACKGROUND I The homeowner at 7445 10th Avenue participated in the Housing and Redevelopment Authority's (HRA) Richfield Rehabilitation Deferred Loan Program in January of 2001. The program is designed to assist low to moderate-income households with needed home improvements. Federal Community Development Block Grant (CDBG) funds received from Hennepin County finance the loans. The HRA placed a $14,945 lien on the property for the total amount the homeowner borrowed to do the improvements. The lien remains on the home for 30 years unless an event of default occurs such as a mortgage foreclosure on the property. Mortgage foreclosure proceedings were started in the spring of 2005. A redemption period followed where the homeowner had an opportunity to redeem. If the homeowner does not redeem during this period, which in this case they did not, the HRA loses its mortgage. However, C & M Real Estate Services, Inc. approached 0725067445 10th Ave the HRA offering to buy the mortgage for $9,000. Following discussion at the July 17, 2006 HRA meeting staff contacted C & M Real Estate Services, Inc. They are agreeable to buying the HRA mortgage lien for $14,945. I III. BASIS OF RECOMMENDATION I I A. POLICY I . The HRA administers the CDBG Deferred Loan Program with Hennepin County. . Loans in default require an HRA response. I B. CRlTICAL ISSUES I . C & M Real Estate Services, Inc. must act by the end of July. . Any funds paid to satisfy a loan, or in this instance to recover a portion of a loan on a property in default are returned to Hennepin County and subsequently to the HRA to fund more loans. I C. FINANCIAL. I . The HRA can recover $14,945 or 100% of the CDBG funds committed. I D. LEGAL I . Legal counsel reviewed the attached Assignment of Mortgage. I IV. ALTERNATIVE RECOMMENDATION(S) I . Do not assign mortgage to C & M Real Estate Services, Inc. and lose all the CDBG funds. I V. ATTACHMENTS . Assignment of Mortgage . Letter from C & M Real Estate Services, Inc. I VI. PRlNCIPAL PARTIES EXPECTED AT MEETING . N/A Assignment of Mortgage ,2006 FOR VALUABLE CONSIDERATION, The HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RICHFIELD, a body corporate and politic of the State of Minnesota, Assignor, hereby sells, assigns and transfers to C & M Real Estate Services, Inc., a Minnesota Corporation, the Assignor's interest in the Mortgage recorded April 29, 2002, executed by Marlene E. Fedora, single, as Mortgagor, to The HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RICHFIELD, and filed as Document No. 7713333 in the office of the Recorder of Hennepin County, Minnesota, Together with the debt thereby secured. For the real property located in Hennepin County, Minnesota, described as follows, to wit: Date: Lot 9, Block 1, Sunnyside Acres, Hennepin County, MN ASSIGNOR: The HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RICHFIELD By Its Chairperson By Its Executive Director State Of Minnesota } }SS. County Of Hennepin} On this day , 2006 before me appeared Suzanne M. Sandahl, the Chairperson of The HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RICHFIELD to me personally known to be the person described in and who executed the foregoing instrument. Notary Seal Signature of Notary Public or other Official State Of Minnesota } }SS. County Of Hennepin} On this day , 2006 before me appeared Steven L. Devich, the Executive Director of The HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RICHFIELD to me personally known to be the person described in and who executed the foregoing instrument. Notary Seal Signature of Notary Public or other Official This Instrument was prepared by: C & M Real Estate Services, Inc. PO Box 756 Anoka, MN 55303 06/16/2015 16:05 FAX 7632742836 .. C & M Real Estate Services, Inc. June 14.2006 HRA ofRicfield Kelly RE: Assignmenl or ~.~ To Whom II May Concern: C & M Real Estate Services, Inc., offers to purchase the Mortgage's recorded on April 29.2002 as doc. 7713333 as document no. 7713333 for the following property in Hennepin County 7445 1 Olll Ave S Richfield MN Mongagor: Marlene E Weurn FKA Marlene E. Fedora The offer to Purchase the \1ortgage is $9,eee.. Please respond ASAP as time is of the essence. ..{ ""'-I. I .)~l...t ~___.--~ ....__-- "'PjJ 8/0? Thank you for yom time. Sincerely, j~~~7~- Mike Wayman PO Box 756, Anoka. MN 55303 Direcl-763-274-2786 Fax-763w274-2836 cc. Corrine Thompson All information in this contract are confidential. No intonnation in thi!i a~l'eement are [0 be released to an,y third palty. . III 0021002