12-03-01 agenda• CITY OF RICHFIELD
MONDAY, DECEMBER 3, 2001
SPECIAL HOUSING AND REDEVELOPMENT AUTHORITY MEETING
RICHFIELD CITY HALL
COUNCIL CHAMBERS
6:00 P.M.
AGENDA
Call to order
1. Consideration of resolution approving. third amendment to contract for private
redevelopment with Best Buy Company, Inc.
Adjournment
• Auxiliary aids for individuals .with disabilities are available upon request.
Requests must be made at least 96 hours in advance to the Administrative
Services Director at 612-861-9702.
•
• HRA RESOLUTION NO.
RESOLUTION APPROVING
THIRD AMENDMENT
TO
CONTRACT FOR PRIVATE REDEVELOPMENT
WHEREAS, the HRA and Best Buy Company, Inc. did on or about March 28,
2000 .enter into an agreement entitled, Contract for Private Redevelopment, (the
"Contract"), calling for the redevelopment of an area of land (the "Property") lying within
the City of Richfield; and
WHEREAS, said parties did on or about November 27, 2000 and February 20,
2001 enter into agreements amending the Contract; and
WHEREAS, events have .required that additional modifications to the Contract
should be made; and
WHEREAS, the HRA has been presented with a proposed amendment to the
Contract entitled: Third Amendment to Contract for Private Redevelopment; and
WHEREAS, the HRA has reviewed and is familiar with the proposed amendment
to the Contract, and is satisfied that the terms thereof carry out the intentions of the
• parties, and are necessary and appropriate for the Development:
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota that:
1. The proposed Third Amendment is hereby in all respects approved.
2. The Executive Director and Board Chair are directed to take all steps and
do all things necessary to effectuate the provisions of the Third Amendment.
Adopted this 3rd day of December, 2001.
Thomas E. Harms, Chairperson
ATTEST:
Michael Sandahl, Secretary
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•
THIRD AMENDMENT
TO
CONTRACT FOR PRIVATE REDEVELOPMENT
11/29/01
THIS AGREEMENT, made and entered into as of the day of ,
2001, by and between the HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR
THE CITY OF RICHFIELD, MINNESOTA, a Minnesota public body. corporate and politic (the
"HRA"), and BEST BUY CO., INC., a Minnesota corporation (the "Redeveloper").
WITNESSETH:
WHEREAS, the parties hereto did on or about March 28, 2000 enter into an agreement
entitled, Contract for Private Redevelopment, (the "Contract"), calling for the redevelopment of
an area of land (the "Property") lying within the City of Richfield; and
WHEREAS, the parties hereto did. on or about November 27, 2000 and February 20,
2001 enter into an agreements entitled, First Amendment to Contract for Private Redevelopment
(the "First Amendment") and Second Amendment- to Contract for Private Redevelopment (the
"Second Amendment") respectively, which amended the Contract; and
WHEREAS, events .subsequent to the Second Amendment require that additional
modifications to the Contract should be made; and
NOW, THEREFORE, based upon the mutual covenants and undertakings hereinafter,
and in the Contract provided, the parties hereto stipulate and agree as follows:
I. The Contract is hereby amended in the following respects: (New material
underlined and deleted material stricken through)
1. Section 3.6(a) is hereby amended to read as follows:
Section 3.6. Public Improvements.
{a) The Authority and the Developer acknowledge and agree that as a result of the
•Developer's construction of the Minimum Improvements, it will be necessary for the Authority to
provide, at no cost to the Developer, except as specifically provided in this .Agreement, for
construction of certain Public Improvements including but not limited to, the improvement and
widening of the: Penn Avenue Bridge. and any and all improvements to 76`" Street and any and .all
other streets, avenues, highways or freeways adjacent to or serving the Development Property. The
Public Improvements will consist generally of the items shown on the attached Exhibit J, ("Public
Improvements"), and will be financed, except as otherwise required in this Agreement, without cost
or involvement or obligation of the Developer, in the manners shown on such exhibit. The
Developer agrees that any funds Developer receives as compensation for acquisition of any part of
the Redevelopment Property for I-494 improvements up to $7,000,000 will be contributed by it to
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the City to be used in funding the Penn Avenue Bridge Project. The funds will be contributed at
• closing or at such later date as they become available to Developer. The Developer further a erg_ es to
execute and deliver to the City an agreement in substantially the form of the attached Exhibit K not
later than December 5.2001.
2. Exhibit K is added to the Contract to read as follows:
Exhibit K
AGREEMENT REGARDING CONVEYANCE OF LAND
FOR FUTURE RIGHT OF WAY FOR INTERSTATE 494
THIS AGREEMENT is made this da of 2001 b BEST BUY CO.
INC a Minnesota corporation and CITY OF RICHFIELD a Minnesota municipal corporation.
Recitals
A Best Buy is the owner of certain land located in the City of Richfield County of Hennepin,
State of Minnesota, le~ly described on the attached Exhibit A (the "RALF Parcels").
B The RALF Parcels are needed for future right of way for Interstate 494,. based upon the
Official Map approved the City and filed as Document No. 3344046 in the Office of the
Hennepin Count Registrar of Titles.
C. The Ci has applied for a loan from the Ri t-of-wa~cquisition Loan Fund to enable the
City to purchase the RALF Parcels from Best Buv.
D Best Buv has submitted an application for plat approval that includes the RALF Parcels and
adjacent lands owned by Best Buv As a condition of plat approval, the City has rectuired
that Best Buy enter into this agreement for the conveyance of the RALF Parcels to the City.
E The conveyance of the RALF Parcels to the Citv is also contemplated in that certain
Contract for Private Redevelopment between Best Buv and the Housing and Redevelopment
Authority in and for the City of Richfield which contract is dated March 28, 2000, as
amended.
F The City has undertaken a project known as the Penn Avenue Bridle Proiect, which
involves the reconstruction of the Penn Avenue and I-494 interchange.
Agreement
1 A~eement to Convey Promptly after demand by the City Best Buv agrees to sell and.
convey the RALF Parcels to the City by Quit claim deed together with all right of access to I-494
from the adjacent lands owned by Best Buy If the conveyance is completed after the recording of
Best Buy's proposed plat the parties agree to amend the le a1g_description of the RALF Parcels to
• conform to the platted legal description.
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• 2 Purchase Price• Donation The City agrees to pay to Best Buv and Best Buv agrees to
accept the sum of Seven Million Dollars ($7 000 000 00) as the purchase price for the RALF
Parcels or such lesser sum as the C~ may receive in loan funds through the Right-of-way
Acquisition Loan Fund,pro~ram Best B~ agrees to donate the entire purchase price to the City on
the express condition that the donated funds must be used to offset City expenses in connection with
the Penn Avenue Bridge Project including without limitation costs related to design, en~ineerin~,
utility relocation land accLuisition and construction costs.
In witness of the foregoi~ this agreement is executed as of the foregoing date by the following
authorized officers of the parties:
BEST BUY CO., INC.
CITY OF RICHFIELD
By
Martin J. Kirsch, Mayor
Samantha Orduno, City Manager
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EXHIBIT A
• Legal Description of RALF Parcels
Parcel A (consisting of parts of tax parcel nos 33-028-24-33-0011, 33-028-24-33-0013, and 33-
028-24-33-0014)
All those parts of the following described properties:
All of Tract C and the West 30 feet of Tracts A B and D as measured along the North
and South lines thereof Registered Land Survey No. 800 Files of Registrar of Titles,
County of Hennepin;
And
The West 141 38 feet of the East 235 63 feet as measured at ri hg t angles to the East line
thereof of that part of the following described tract of land lyin~ South of the North 200
feet thereof and North- of the North right-of-way_line of Interstate Hiahway No. 494.
That part of the Southwest '/4 of the Southwest '/4 if Section 33, Township 28, Range 24,
Hennepin County Minnesota described as follows: Commencing on the South line of
said Southwest 1/4 of the Southwest '/4 at a point 328 feet East from the Southwest corner
of said Section• thence Northerly to the Southwest corner of McHARDY'S ADDITION;
. thence Easterly to the Southeast corner of McHARDY'S ADDITION; thence Southerly
to a point in the South line of said Section 33 distant 656 feet East from the Southwest
corner of said Section 33• thence West 328 feet to the point of be~innin~;
And
The East 94 25 feet as measured at right angles to the East line thereof, of: that part of
the followingLdescribed tract of land lying South of the North 200 feet thereof and North
of the North right-of--way line of Interstate Highway No .494. That part of the Southwest
'/a of the Southwest '/a of Section 33 Township 28 Range 24 Hennepin County,
Minnesota described as follows• Commencing_on the South line of said Southwest '/4 of
the Southwest '/4 at a point 328 feet East from the Southwest corner of said Section;..
thence Northers to the Southwest corner of McHARDY'S ADDITION; thence Easterly
to the Southeast corner of McHARDY'S ADDITION• thence Southerly to a point in the
South line of said Section 33 distant 656 feet East from the Southwest corner of said
Section 33 • thence West 328 feet to the point of be ig nnin~;
And
That part of the following described property 1~~ West of the East 235.63 feet thereof
as measured at ri hg t angles to the East line thereof: that part of the following described
tract of land lYin¢ south of the North 200 feet thereof and north of the North right-of-
way line of Interstate Hi hway No 494 That part of the Southwest '/4 of the Southwest
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• followsvv Commencing on the South line of said Southwest '/4 of the Southwest 1/4 at a
point 328 feet East from the Southwest corner of said Section: thence Northerly to the
Southwest corner of McHARDY' S ADDITION- thence Easterly to the Southeast corner
of McHARDY'S ADDITION- thence southerly to a point in the South line of said
Section 33 distant 656 feet East from Southwest corner of said Section 33; thence West
328 feet to the point of be ig nnin~;
And
The South one half of the following described tract of land:
That part of the Southwest Quarter of the Southwest Ouarter (SW 1/a of SW 1/4) of
Section Thirty-three (33) Township Twenty eight (28) Range Twenty four (24),
described as follows- Commencing at the Southwest corner of said Section 33; thence
running_North 1313 33 feet- thence East 327:60 feet- thence South 1313.33- feet; thence
West 328 feet to the point of beginning excepting however that part thereof 'taken for
State Highway No 100 also known as Interstate Hi hway No. 494, and subiect to all
other public streets and highways- except all that part of the following described tract;..
that part of the Southwest Quarter of the Southwest Quarter Section 33, Township 28
North Range 24 West described as follows: Be ig nnin ag t the point of intersection of a
line 33 feet East of and_parallel with the West line of said Section. and the Northeasterly
right-of-way line of Trunk Hi~hway No. 494 as defined by Document No, 3419310;
. thence North alon~the parallel line a distance of 175 feet; thence East at a right angle a
distance of 164 feet- thence South at a ri h~ angle a distance of 232.80 feet_,_more or less,
to a point of Northeasterly right-of--way line of Trunk Highway No. 494; thence
Northwesterly along the North right-of--way line of Trunk Highway No. 494 a distance .
of 173 89 feet more or less to the point of be ig nning according to the United States
Government Survey thereof and situate in Hennepin County, Minnesota which lies
Southerly Southwesterly and Westerly of the following described Line A:
Beginnin¢ at the Southwest corner of said Section 33• thence Northerly along the
West line of said Section 33 a distance of 501.24 feet to the point of beginning of the
line to be described- thence Easterly deflecting to the right at an angle of 88 decrees,
30 minutes a distance of 125 65 feet- thence Southeasterly along the tangential
curve concave to the Southwest radius 53 feet delta angle 91 degrees, 20 minutes, a
distance of 84 64 feet- thence Southerly alon thg_ a tangent of said curve a distance of
180 feet more or less to the Northeasterly ri t-of--way line of said Trunk Highway
No 494 as defined in Document No. 3419310; and there terminating;
And which lies Southeasterly of the following described Line B:
Be ig nnin~at a point on a line drawn parallel with and 33 feet Easterlyfrom the West
line of said Section 33 distant 30 feet Southerly from the point of intersection of said
parallel line with Line A• thence Northeasterl t~point on Line A distant 30 feet
• Easterly from the point of intersection of said parallel line and Line A.
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• All according to the United States Government Survey thereof, and situate in Hennepin
County, Minnesota;
And
All that part of the Southwest Quarter of the Southwest Quarter (SW '/4 of SW '/a) of
Section Thirty-three (33) Township Twenty eight <281 Range Twenty four (24),
described as follows• Commencing. at the Southwest corner of said Section 33: thence
running North 1313 33 feet• thence East 327.60 feet• thence South 1313.33 feet; thence
West 328 feet to the point of beginning. exce~tin~ however that part thereof taken for
State Hi hway No 100 also known as Interstate Highway No. 494, and subject to all
other public streets and hi hg_ways• described as follows: Be ig nning at the point of
intersection of a line 33 feet East of and parallel with the West line of said Section and
the Northeasterl~rig~ht-of--way line of Trunk Highway No. 494 as defined by Document
No 3419310• thence North along the parallel line a distance of 175 feet; thence East at a
right angle a distance of 164 feet• thence South at a ri hg t angle a distance of 232.80 feet,
more or less to a point of Northeasterly right-of--way .line of Trunk Highway No. 494;
thence Northwesterly along the North right-of-way line of Trunk Hiahwav No. 494 a
distance of 173 89 feet more or less to the point of be ig nning according to the United
States Government Survey thereof and situate. in Hennepin County, Minnesota, which
lies Southerly Southwesterly and Westerly of the following described Line A:
• Be ig nning at the Southwest corner of said Section 33: thence Northerly along the
West line of said Section 33 a distance of 501.24 feet, to the point of beginning of the
line to be described• thence Easterly deflecting to the right at an angle of 88 de ees,
30 minutes a distance of 125.65 feet• thence Southeasterly along the tangential.
curve concave to the Southwest radius 53 feet, delta angle 91 degrees, 20 minutes, a
distance of 84 64 feet• thence Southerly along the tangent of said curve a distance of
180 feet more or less to the Northeasterly right-of--way line of said Trunk Highway
No 494 as defined in Document No. 3419310; and there terminating;
And which lies Southeasterly of the following described Line B:
Beginning at a point on a line drawn parallel with and 33 feet Easterly from the West
line of said Section. 33 distant 34 feet Southerly from the point of intersection of said
parallel line with Line A• thence Northeasterly to a point on Line A distant 30 feet
.Easterly from the point of intersection of said parallel line and Line A.
All according to the United States Government Survey thereof, and situate in Hennepin
County, Minnesota•
Which lie southerly of the following described line and its extensions:
Commencing at the southwest corner of said Section 33, Township 28 North, Range 24 West,
• Hennepin County Minnesota• thence North 00 degrees 13 minutes 12 seconds East along the
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westerly line of the Southwest Quarter of said Section 33 for 246.89 feet to the actual point of
i beginning of the line to be described• thence South 89 degrees 41 minutes 07 seconds East for
333 62 feet• thence South 00 degrees 18 minutes 54 seconds West for 3.00 feet; thence South
89 degrees 41 minutes 07 seconds East for 125 10 feet• thence South 85 degrees 28 minutes 56
seconds East for 180 90 feet• thence South 88 degrees 29 minutes 28 seconds East for 154.81
feet• thence North 89 degrees 15 minutes 16 seconds East for 569.09 feet; thence easterly for
255 55 feet along a tan¢ential curve concave to the south radius 2322.83 feet and central angle
06 degrees 18 minutes 13 seconds to the westerly line of the 60 foot wide right of way of Knox
Avenue South and there terminating.
Parcel B (consisting of parts of tax parcel nos. 33-028-24-33-0007, 33-028-24-33-0065, 33-028-
24-33-0066, 33-028-24-33-0067, 33-028-24-33-0068, 33-028-24,33-0069, and 33-028-24-33-00701
All those parts of the following described properties:
Tracts A B and D except the West 30 feet of said tracts, as measured along the North
and South lines thereof Tracts E F and G Registered Land Survey No. 800, Hennepin
County, Minnesota;.
And
That part of the Southwest '/4 of the Southwest '/4 of Section 33, Township 28 North,
Range 24 West of the 4`" Principal Meridian described as follows: Commencing at a
• point distant 820- feet East of the Southwest corner of said Section 33; thence North a
distance of 656 28 feet• thence East a distance of 163.80 feet; thence South a distance
of 656 28 feet• thence West a distance of 164 feet to point of be ig nning, according to the
.United States Government Survey thereof and situate in Hennepin County, Minnesota;
Which lie southerly of the following described line and its extensions:
Commencing at the southwest corner of said Section 33, .Township 28 North, Range 24 West,
Hennepin County Minnesota• thence North 00 degrees 13 minutes 12 seconds East along the
westerly line of the Southwest Ouarter of said Section 33 for 246.89 feet to the actual point of
begi~g of the line to be described• thence South 89 degrees. 41 minutes 07 seconds East for
333 62 feet• thence South 00 degrees 18 minutes 54 seconds West for 3.00 feet; thence South
89 decrees 41 minutes 07 seconds East for 125.10 feet• thence South 85 degrees 28 minutes 56
seconds East for 180 90 feet• thence South 88 degrees 29 minutes 28 seconds East for 154.81
feet• thence North 89 decrees 15 minutes 16 seconds East for 569.09 feet; thence easterly for
255 55 feet along a tan¢ential curve concave to the south radius 2322.83 feet and central angle
06 degrees 18 minutes 13 seconds to the westerly line of the 60 foot wide right of way of Knox
Avenue South and there terminating.
Parcel C (consistins of parts of tax parcel nos. 33-028-24-33-0093 and 33-028-24-34-0013)
All those parts of the following described properties:
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The South '/2 of the West 5 acres of the Southeast '/4 of the Southwest '/4 of Section 33,
. Township 28 Range 24 except the North 120 feet of the South'/z of the West 5 acres of the
Southeast'/4 of the Southwest'/4 of Section 33 Township 28, Range 24, all in the County of
Hennepin, State of Minnesota;
And
Tract B Registered Land Survey No 1037 Files of registrar of Titles, County of Hennepin;
And
Tract D Registered Land Survey No 618 Files of Registrar. of Titles, County of Hennepin;
And
That part of the Southwest Quarter of Section 33 Township 28, Range 24, West of the
Fourth Principal Meridian described as follows:. Beginning at the Southeast corner of the
West 5 acres of the Southeast Quarter of the Southwest Quarter of said Section. 33; thence
North aloz~ the East line of said West 5 acres a distance of 656.1. feet more or less, to the
North line of the South %2 of said Southeast Quarter of the Southwest Quarter;. thence East
along -said North line 79 5 feet• thence South parallel with the West line of the said
Southeast Quarter of the Southwest Quarter to the South line of said Section. 33; thence
West along said South line 79 5 feet to the point of beginning according to the Government
i Survey_thereof
And
Tract L except that part of the West 6 feet thereof lying North of the South line of Tract M
extended Easterly' That part of Tract K lying East of a line described as follows: Beginning
at apoint on the South line of Tract K 47 feet West of the Southeast corner thereof; thence
running North to a point on the North. line of said Tract K, .54 feet West of the Northeast
corner thereof and there terminating all in Registered Land Survey No. 800, Files of
Registrar of Titles, County of Hennepin;
And
That part of Tract M lying South of the North 235 feet thereof, as measured along the East
and West lines of said Tract M,
That part of the West 6 feet of Tract L lying North of the South line of said Tract M
extended Easterly all in Registered Land Survey No. 800, Files of Registrar of Titles,
County_of Hennepin• .
And
Tracts H I and J and that part of Tract K lying West of a line described as follows:
• Beginning at a point on the South line of Tract K .47 feet West of the Southeast corner
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thereof thence running North to a point on the North line of said Tract K, .54 feet West of
• the Northeast corner thereof and there terminating, Registered Land Survey No. 800, Files
of Registrar of Titles, County of Hennepin;
Which lie southerly of the following described line and its extensions:
Commencing at the southwest corner of said. Section 33, Township 28 North, Range 24 West,
Hennepin County Minnesota• thence North 00 degrees 13 minutes 12 seconds East along the
westerly line of the Southwest Quarter of said Section 33 for 246.89 feet to the actual point of
be inning of the line to be described• thence South 89 degrees 41 minutes 07. seconds East for
333 62 feet• thence South 00 degrees 18 minutes 54 seconds West for 3.00 feet; thence South
89 degrees 41 minutes 07 seconds East for 125.10 feet; thence South 85 degrees 28 minutes 56
seconds East for 180.90 feet• thence South 88 degrees 29 minutes 28 seconds East for 154.81
feet• thence North 89 degrees 15 minutes 16 seconds East for 569.09 feet; thence easterly for
255.55 feet along_a tangential curve concave to the south, radius. 2322.83 feet and central angle
06 degrees 18 minutes 13 seconds to the westerly line. of the 60 foot wide right of way of Knox
Avenue South and there terminating.
(End of Exhibit K)
•
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed in their behalf by their authorized representatives on or as of the date first above
written.
HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF
RICHFIELD
By
Its Chair
By
Its Acting Executive Director
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• STATE OF MINNESOTA
ss..
COUNTY OF HENNEPIN
The foregoing instrument was acknowledged before me this day of
2001 by Thomas E. Harms and Steve Devich, the Chair and Acting
Executive Director, respectively, of the Housing and Redevelopment Authority in and for .the
City of Richfield, a public body corporate and politic under the .laws of Minnesota, on behalf of
the Authority.
Notary Public
BEST BUY CO., INC.
By:
Its:
STATE OF MINNESOTA
• ss.:
COUNTY OF HENNEPIN
The foregoing instrument was acknowledged before me this day of , 2001
by ,the of Best Buy Co., Inc., a Minnesota corporation,
on behalf of the corporation.
Notary Public
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