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HomeMy WebLinkAboutEDA - May 20, 2014ANL66 - P 1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.ANDOVERMN.GOV ECONOMIC DEVELOPMENT AUTHORITY MEETING May 20, 2014 6:30 p.m. Conference Rooms A & B 1. Call to Order— 6:30 p.m. 2. Swear in Commissioner Twistol 3. Approval of Minutes (May 6, 2014) 4. Public Hearing - Andover Station North 2nd Addition Land Sale a. Approve Purchase Agreement — Mission Development 5. Andover Station North Update 6. Redevelopment Discussion Update 7. Other Business 8. Adjournment • 1685 CROSSTOWN BOULEVARD N.W.. ANDOVER; MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.ANDOVERMN.GOV TO: Economic Development Authorit CC: Jim Dickinson, City Administrator FROM: Michelle Hartner, Deputy City Clerk SUBJECT: Approval of Minutes DATE: May 20, 2014 INTRODUCTION The following minutes were provided by Staff reviewed by Administration and submitted for EDA approval: May 6, 2014 Regular DISCUSSION The minutes are attached for your review. ACTION REQUIRED The EDA is requested to approve the above minutes. Respectfully submitted, Michelle Hartner Deputy City Clerk Attach: Minutes 1 2 3 4 5 6 7 8 9 10 11 12, 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 ANDOVER ECONOMIC DEVELOPMENT A UTHORITY MEETING MAY 6, 2014 - MINUTES A meeting of the Andover Economic Development Authority Gamache, May 6, 2014, 6:00 p.m., at the Andover City M Andover, Minnesota. Present: Commissioners Sheri Bukkila, Tam,, Trude and Timothy Cleven Absent: Joyce Twistol Also present: Community Development Director, Executive Director, Jim Dickinson President Gamache administered the APPROVAL OF March 18, 2014, TARGET POND DOCK PROJECT as led to order by President Mike 5 Crosstown Boulevard NW, Mike Knight, Julie Cleven. Minutes as presented. Motion carried JOHNPORTESAN, EAGLE SCOUT Mr. Carlberg introduced John Portesan. He indicated Mr. Portesan will be presenting a PowerPoint on his Eagle Scout project, a dock on the pond near Target. Mr. Portesan indicated there are three possible locations for the dock. 1. The top right side of the northeast corner of the pond. 2. The bottom right side of the southeast corner of the pond. 3. The bottom left side of the southeast corner of the pond. The dock location was discussed. Commissioner Bukkila suggested the dock be located on the bottom right side of the southeast corner. The EDA indicated that the right side of the southeast corner of the pond would be best. 47 Mr. Portesan continued by showing a design of the dock. The design shows a 20 x 10 -12 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Andover Economic Development Authority Meeting Minutes — May 6, 2014 Page 2 floating dock with a 10 x 4 walkway. Mr. Portesan indicated a floating dock would be the best option due to the fluctuation of water levels in the pond. The dock would anchor to the shore. Mr. Portesan stated the approximate material cost is $3,800. He presented the following timeline: May 10`I' — June l Ot" - scheduling people to help with the construction, fundraising, finalizing the plan and ordering the materials. June 13th — materials delivered. June 14th — constructing the dock. Commissioner Trude suggested the EDA assist in funding the materials for the project. With the EDA funding the materials for the project it could shorten the timeline. The EDA concurred. Commissioner Bukkila asked if City staff would be helping with the project. Mr. Carlberg indicated someone from staff will be assisting Mr. Portesan. President Gamache asked what the pond depth is on the bottom northeast comer. Mr. Portesan answered 2 -3 feet. Commissioner Trude suggested constructing a bench on the dock. Commissioner Howard suggested the walkway be 20 feet instead of 10 feet. The EDA concurred. Mr. Dickinson asked the EDA for an "up to" dollar amount for the materials for the project. The EDA agreed on up to $5,000. Motion by Trude, Seconded by Knight approving Mr. Portesan to construct a dock at the pond near Target for his Eagle Scout project. The EDA will fund the materials for the project up to $5,000. Also approving a sub - committee of Commissioners Howard and Cleven to assist Mr. Portesan with the design. Motion carried unanimously. The EDA commended Mr. Portesan for his hard work on this project and thanked him for the presentation. CONSIDER SALE OF LOT 2, BLOCK 1, ANDOVER STATIONNORTH 2ND ADDITION Mr. Carlberg indicated Mission Development is interested in purchasing Lot 2, Block 1, Andover Station North 2"a Addition to build a 6,000 - 10,000 square foot office building. This is one of two lots the EDA owns. Mr. Carlberg introduced Mr. Marshall Weems from Mission Development. Andover Economic Development Authority Meeting Minutes — May 6, 2014 Page 3 1 Mr. Weems stated Mission Development is looking for an opportunity of placing a high level 2 office building in the Andover Station area and this lot fits what they are looking for. They 3 would construct a 6,000 square foot building with the possibility for a future 4,000 square foot 4 addition. Mr. Carlberg reviewed that the EDA has always wanted a restaurant at this location, 5 but with the right in, right out on Bunker Lake Boulevard the lot will be tough to sell for a 6 restaurant. Mr. Carlberg has contacted several restaurant businesses in the last couple years with 7 no success. 8 9 Commissioner Trude asked who the potential tenants would be. Mr. Weems answered they 10 would be professional service tenants. The building would consist of employees and clients. 11 12 Commissioner Bukkila asked about the building fagade. Mr. Weems indicated it would be a 13 brick building similar to the looks of the adjacent bank building. 14 15 Commissioners Bukkila and Howard indicated they are concerned about access to the parcel to 16 the east of this lot. Mr. Dickinson stated a cross lot parking agreement would be put into to place 17 with Mission Development. 18 19 Mr. Carlberg asked the EDA if they would like to pursue the sale of the lot. The EDA agreed to 20 pursue the sale of the lot. 21 22 Mr. Carlberg indicated staff will schedule a May 20th EDA meeting for a public hearing. The 23 EDA is required by state law to hold a public hearing for the sale of property. 24 25 The EDA thanked Mr. Weems for his presentation. 26 27 Mr. Weems stated the City of Andover has been wonderful to work with on Cherrywood 28 Advanced Living project. 29 30 PARKSIDE AT ANDOVER STATION UPDATE 31 32 Mr. Carlberg updated on the following: 33 34 Capstone Homes — April 30, 2014 Capstone Homes submitted a building permit application for 35 construction of an 8 -plex building. 36 37 Cherrywood of Andover — Residents will be moving in to the facility next week. An Open 38 House is scheduled for May 22, 2014 from 3:00 — 7:00 p.m. 39 40 ANDOVER STATION NORTH UPDATE 41 42 Mr. Carlberg updated on the following: 43 44 Dynamic Sealing Technologies, Inc. — Closing date will occur on or before July 1, 2014. Andover Economic Development Authority Meeting Minutes — May 6, 2014 Page 4 1 Measurement Specialties — A groundbreaking ceremony is scheduled for May 8, 2014 at 2:00 2 p.m. 3 4 REDEVELOPMENT DISCUSSION UPDATE 5 6 Mr. Carlberg indicated PEER Engineering completed the Limited Site Investigation (LSI) report 7 on April 15, 2014 and submitted it to the MPCA by the April 27, 2014 deadline. The MPCA can. 8 take up to 30 days to respond to the City. 9 10 Mr. Carlberg stated the report showed no additional contamination. 11 12 Mr. Dickinson stated staff is monitoring a 4 -plex in foreclosure. 13 14 OTHER BUSINESS 15 16 There was none. 17 18 ADJOURNMENT 19 20 Motion by Bukkila, Seconded by Trude to adjourn. Motion carried unanimously. The meeting 21 adjourned at 6:59 p.m. 22 23 Respectfully submitted, 24 25 26 Michelle Hartner, Recording Secretary 1 F lie ^ 1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.CI.AN DOVER. MN. US TO: EDA President and Board CC: Jim Dickinson, Executive Director FROM: David L. Carlberg, Community Developm Director SUBJECT: Public Hearing on EDA Land Sale: Lot 2, Block 1, Andover Station North 2nd Addition DATE: May 20, 2014 INTRODUCTION According to State Statute, the EDA must hold a public hearing prior to any land sale. Lot 2, Block 1, Andover Station North 2 ❑d Addition is being sold. The legal notice has been published at least ten days prior to this meeting (on 5/9/14). ACTION REQUESTED The EDA is requested to open the public hearing and request public comment. Upon receiving public comment, the EDA may close the public hearing and discuss the proposed resolution. The EDA should pass a resolution indicating it is in the public's interest to sell the property and that the specified intended use of the parcel is in keeping with the interest of the City of Andover EDA to further the development of Andover Station North area (see attached resolution). Staff recommends the land sale be completed as they meet the original objective of redeveloping the area with a diversity of different uses that will meet the needs of the broader community. ACTION REQUIRED The EDA is requested to hold a public hearing and take public comment on the proposed land sale. The EDA is also requested to review and consider the attached resolution. If the EDA agrees with the findings in the resolution, a motion to approve the resolution and allow the land sale would be in order. Respectfully submitted a4J.- . Oct, David L. Carlberg Attachments Legal Notice Resolution Location Map AFFIDAVIT OF PUBLICATION STATE OF MINNESOTA ) ss COUNTY OF ANOKA ) Charlene Vold being duly sworn on an oath, states or affirms that they are the Authorized Agent of the newspaper(s) known as: Anoka County Union Herald and has full knowledge of the facts stated below: (A) The newspaper has complied with all of the requirements constituting qualifica- tion as a qualified newspaper as provided by Minn. Stat. §331A.02, §331A.07, and other applicable laws as amended. (B) This Public Notice was printed and pub- lished in said newspaper(s) for I succes- sive issues; the first insertion being on 05/09/2014 and the last insertion being on 05/09/2014. By: -UL�L Authorized Agent Subscribed and sworn to or affirmed before me on 05/09/2014. Notary Public i• vVV44N'a\•V4\rvrv4WVVNVIArW� ARIHVEMARIEMACWiDiS()N }! Notary Pnblic- Nlinn�e p �tyry,C�lNa�pnfSdan37,2079 Rate Information: (1) Lowest classified rate paid by commercial users for comparable space: $20.00 per column inch Ad ID 218191 CITY OF ANDOVER NOTICE OF PUBLIC HEARING COUNTYOFANOKA STATE OF MINNESOTA The Economic Development Authority of the City of Andover will hold a public hearing at 6:00 p.m., or as soon thereafter as can be heard, on Tuesday, May 20, 2014 at the Andover City Hall, 1685 Crosstown Blvd NW, Andover This public hearing is to discuss the land sale of Lot 2, Block 1, Andover Station North 2nd Addition located at 13753 Ibis Street NW. The land sale will be reviewed to determine if the land sale is in keeping with the intent outlined in Minnesota State Statute 469.105. All written and verbal comments will be received at that time and location. A copy of the proposed land sale informa- tion will be available for review prior to the meeting at City Hall. Please contact David L. Carlberg, Commu- nity Development Director, with any questions at (763) 767 -5140. /a/ David L. Carlberg, Community Development Director Published in the Anoka County UnionHerald May 9, 2014 218191 CITY OF ANDOVER EDA COUNTY OF ANOKA STATE OF MINNESOTA RESOLUTION NO. -14 A RESOLUTION APPROVING THE LAND SALE OF A PARCEL LOCATED IN ANDOVER STATION NORTH 2ND ADDITION WHEREAS, the City of Andover EDA has held a public hearing to gather public comments on the proposed land sale and to disclose the pending land sale of Lot 1, Block 2, Andover Station North 2nd Addition, and WHEREAS, the findings substantiating that it is in the public interest to sell the EDA owned parcel to the buyer include the following: The land sale will increase local jobs and increase the local tax base. NOW, THEREFORE, BE IT RESOLVED by the EDA of the City of Andover, Anoka County, Minnesota, that the public hearing has been held and it has been found to be in the public's interest to sell EDA owned land described as Lot 2, Block 1, Andover Station North 2nd Addition. Adopted by the EDA of the City of Andover this 20th day of May, 2014. Attest: Michelle Hartner — Deputy City Clerk 2 CITY OF ANDOVER EDA Michael R. Gamache, President c 1 "I' 1 O P NDOVEA map ti e> Im r-. 11173 f Cr bL mill h 13`t r: f IN _ ■u z i �. �• � ° �- sa= 000�_ �'. j',•,4 +aC� <, 4a N Disclaimer: Maps and documents made available to the public by the City of Andover are not legally recorded maps or surveys and are not intended to be used as such. The maps and documents are created as part of the Geographic Information System (GIS) w E that compiles records, information, and data from various city, county, state and federal resources. Copyright © 2013 City of Andover, All Rights Reserved s Printed 0612712013 C I T Y O F 00, NDOVE 1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.CI.ANDOVER.MN.US TO: EDA President and Board CC: Jim Dickinson, Executive Director FROM: David L. Carlberg, Community Development Director SUBJECT: Approve Purchase Agreement with Mission Development — Lot 2, Block 1, Andover Station North 2nd Addition DATE: May 20, 2014 INTRODUCTION The EDA is requested to approve the attached Purchase Agreement with Mission Development for the sale of Lot 2, Block 1, Andover Station North 2nd Addition. BACKGROUND The EDA earlier on tonight's agenda, held a public hearing and adopted a resolution approving the land sale. The EDA found that it is in the public's interest to sell the property and that the specified intended use of the parcel is in keeping with the interest of the City of Andover EDA to further the development of Andover Station North area. Staff recommends the land sale be completed as the sale meets the original objective of redeveloping the area with a diversity of different uses that will meet the needs of the broader community. ACTION REQUESTED The EDA is requested to approve the attached Purchase Agreement (subject to final review by the City Attorney) and direct Staff to complete the land sale. Respectfully submitted, ' 4 Y. eaa,,�� David L. Carlberg Attachments Purchase Agreement PURCHASE AGREEMENT THIS PURCHASE AGREEMENT (this "Agreement ") is entered into as of the _ day of 2014 (the "Effective Date "), by Andover Economic Development Authority, a body corporate and politic, 1685 Crosstown Boulevard NW, Andover, Minnesota ( "Seller "), and Mission Development, LLC a Minnesota corporation, 1637 4`h Avenue North, Sauk Rapids, MN 56379 and/or their assigns ( "Buyer ") and is based on the following facts: A. Seller owns real property situated in the City of Andover (the "City"), County of Anoka, State of Minnesota, currently legally described as Lot 2, Block 1 Andover Station North 2nd Addition, according to the recorded plat thereof (the "Land "). B. Buyer wishes to purchase the Land from Seller, and Seller wishes to sell the Land to Buyer, on the terms and conditions set forth in this Agreement. C. Buyer intends, after acquiring title to the Land, to construct thereon an office building and related improvements. D. Seller intends to sell Buyer the Land which has water and sewer services, small utilities, and final grades according to an approved grading and utility plan. E. Seller and Buyer wish to set forth in writing the terms of their agreement with respect to the sale of the Land by Seller to Buyer. NOW, THEREFORE, in consideration of the facts stated above, the mutual covenants and agreements set forth below, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the parties, the parties herby agree as follows: 1. RECITALS INCORPORATED. The facts stated above are hereby incorporated into this Agreement and made a part of this Agreement by this reference. 2. SALE OF LAND. Subject to the terms and conditions set forth in this Agreement, Seller hereby agrees to sell and convey to Buyer, and Buyer hereby agrees to purchase and accept from Seller, fee title to the Land, at a closing (the "Closing ") which shall occur on a date that is anticipated to be September 24, 2014. 3. PRICE AND TERMS. The purchase price for the Property (the "Purchase Price ") shall be Five Hundred Thirteen Thousand Dollars ($513, 000), which Buyer shall pay as follows: Earnest money of Five Thousand and no /100 Dollars ($5,000) by check or other immediately available funds payable to Seller upon Buyer's execution and delivery of this Agreement, and Five Hundred Eight Thousand and no /100 Dollars ($508,000) in cash or other immediately available funds at the Closing. Purchase price includes the land price, park dedication fees, water and sewer area charges, and all assessments for streets, curb and storm sewer. 4. CONTINGENCIES. The parties' obligations under this Purchase Agreement are contingent upon the following: a) Seller shall permit Buyer, at Buyer's expense, to enter the Land to conduct investigations and testing and Buyer shall be completely satisfied with the environmental and soil conditions of the Property, as determined by Buyer in Buyer's sole discretion. Buyer shall indemnify and hold Seller harmless from all loss, cost, damage and expense (including court costs and reasonable attorney's fees) that Seller may suffer or incur as a result of Buyer's entry onto and investigation and testing of the Land, and Buyer's obligation under this sentence shall survive Closing. b) Seller shall undertake any zoning change requests necessary to allow for the construction of the office building according to Site Plan (Exhibit A) and building plans supplied by Buyer. Approval of proper zoning change requests to allow the project must be final at least 90 days prior to the Closing. c) Seller shall provide an Alta Survey of the Land at Seller's cost. d) Seller shall provide Buyer with copies of all soils, environmental and engineering reports pertaining to the Land within 10 days of acceptance of the purchase agreement. e) Buyer acknowledges that a Reciprocal Access and Parking Lot Easement Agreement (Document No. 1985994.003 attached) dated July 14, 2006 ( "Easement Agreement ") exists and encumbers the Land; that the sale of the Land is subject to said Easement Agreement; and that the Easement Agreement and Buyer's obligations thereunder shall survive the closing of this transaction. f) Buyer shall have obtained all zoning, land use, watershed, environmental and other governmental approvals and permits Buyer shall deem necessary to use the Land in the manner contemplated by Buyer, including, but not limited to, a full site plan conforming to Seller's design and zoning standards which Buyer determines can be built for a price acceptable to Buyer, all as determined by Buyer in Buyer's sole discretion. g) Buyer shall have determined that the roads, easements, driveways, utilities, points of access and other infrastructure serving the Land will be adequate for Buyer's purposes, as determined by Buyer in Buyer's sole discretion. h) On or before the Closing Date, Title shall have been found acceptable, in accordance with the requirements and terms of Section 9 below. i) Buyer, on or before the Closing Date, shall have received, reviewed and determined that it is satisfied with the matters disclosed by the Alta Survey of the Land. j) Buyer shall provide proof of financing acceptable to Buyer for the purchase of the land, building and other improvements at least 14 days before closing. Building must be at least 6,000 square feet and may be expanded to the extent allowed by the City zoning and building codes. k) Buyer agrees to enter into a Reciprocal Access and Parking Agreement for the adjacent property to the east, currently owned by Great River Energy, prior to said closing date. 5. CLOSING. On the date of Closing, Seller shall deliver to Buyer possession of the Land conveyed to Buyer at that Closing. Subject to performance by Buyer, Seller agrees to execute and deliver at the Closing: a) A Limited Warranty Deed (the "Deed "), conveying fee title to the Land to be conveyed by Buyer at the Closing; b) A standard form Seller's Affidavit; c) A Non - Foreign Person Affidavit, stating under penalty of perjury that Seller is not a foreign person within the meaning of Section 1445 of the Internal Revenue Code, and setting forth Seller's taxpayer identification number and address; d) A completed Minnesota Well Disclosure Certificate or the following statement on the Deed: "The Seller certifies that the Seller does not know of any wells on the described real property"; e) Any notices, certificates and /or affidavits relative to private sewage systems, underground storage tanks and pollution as may be required by Minnesota Statutes; and f) Such other documents as reasonably may be determined by either party or "Title" (defined below) to be necessary to transfer title to the Lots. 6. REAL ESTATE TAXES AND SPECIAL ASSESSMENTS. Real estate taxes due and payable in and for the year of Closing shall be prorated between Seller and Buyer on a calendar year basis to the actual Closing Date. Seller shall pay all real estate taxes and installments of special assessments payable therewith ( "Taxes ") that were due and payable on the Land in all years prior to the year in which the Closing for such Land occurs, and all special assessments levied, pending and /or deferred as of the date of such Closing. Buyer shall pay real estate taxes due and payable in the year following Closing and thereafter, and any special assessments levied and payable after the Closing Date. Seller makes no representation concerning the amount of future real estate taxes or of future special assessments. ALLOCATION OF CLOSING COSTS. At the Closing, Seller and Buyer shall pay their own share of any closing fee charged by Title. With respect to all other costs, each party shall pay its share of the Closing costs which are normally assessed against a seller or buyer, as the case may be, except as otherwise provided below. Seller shall pay: state deed tax and any conservation fee on the Deed, and the cost of recording any document necessary to cure any title objection or otherwise place good and marketable title, subject to the Permitted Exceptions, in Buyer. Buyer shall pay all other document recording fees and conservation fees, and mortgage registry tax, recording fees and any conservation fee on any financing documents required by Buyer's lender, if any. NOTICE AND RIGHT TO CURE. Except as otherwise specifically provided in this Agreement, each party shall be entitled to notice of any default and shall have fifteen (15) days after such notice to either cure or contest the default prior to the exercise of any remedy provided herein. 9. TITLE EXAMINATION. a) Title Commitment. As soon as reasonably possible after the complete execution and delivery of this Agreement, Seller shall furnish to Buyer a commitment (the "Commitment "), for an owner's policy of title insurance issued by a title insurance company or agency selected by Buyer, evidencing marketable title ( "Title ") in Seller for the Land, subject to the Permitted Exceptions. Buyer, in advance of ordering the Commitment, shall provide Seller at least two proposals estimating the cost of preparing the title commitment to verify the Commitment will be prepared at a reasonable cost. b) Survey. Seller shall supply an ALTA survey at the Seller's sole expense. c) Title Objections; Permitted Exceptions. Buyer shall be allowed ten (10) days after receipt of the Commitment for examination of title and making of any objections thereto. Any exception not objected to in writing within the specified time shall be deemed waived, and shall constitute a Permitted Exception. Any exception to the warranties of title that are specified in Section 4 above, and any other matter disclosed by the Commitment that is not timely disapproved in writing by Buyer, shall be Permitted Exceptions. d) Title Clearance. If any objection to title is timely made as provided in Section 9c, Seller shall elect, by notice to Buyer within ten (10) days after Seller's receipt of such objection, either to agree to use commercially reasonable efforts to cure such objection prior to the Closing, or to terminate this Agreement. If Seller elects to try to cure such objection, but any such objection is not cured prior to the scheduled Closing, Seller may extend the Closing up to a date not later than one hundred twenty (120) days after the scheduled Closing (the "Extended Closing ") to permit Seller to make title marketable. If Seller is unable to make title marketable prior to the Extended Closing, or if Seller elects to terminate this Agreement as permitted above, Buyer may, by notice to Seller within ten (10) days after Buyer's receipt of notice of Seller's election to terminate this Agreement, either: 1. Terminate this Agreement and receive a full refund of all earnest money paid to Seller; or 2. Waive the objection and accept title subject to the objection. 10. DEFAULT. a) Default Defined. Buyer shall be in default under this Agreement if Buyer: fails timely to pay any amount owing to Seller under this Agreement; or fails timely to observe any other covenant or agreement of Buyer set forth in this Agreement; or makes or has made any representation or warranty under this Agreement that is untrue or misleading in any material respect. Incase of a default, Buyer shall be entitled to a notice and cure period equal to (i) the period described in Section 8 above, or (ii) the notice and cure period set forth elsewhere in this Agreement for such specific breach. b) Default by Buyer. Notwithstanding anything to the contrary contained in this Agreement, Buyer shall not be in breach or default hereunder unless Seller is not currently in default hereunder, and within fifteen (15) days after Buyer's receipt of notice (i) Buyer fails to cure any breach of any obligation of Buyer under this Agreement which is set forth in such notice or (ii) Buyer fails to complete its purchase of the Property as stated herein. If any such failure continues beyond such cure period, Seller may terminate this Agreement and retain the Earnest Money as liquidated damages. In the event Seller elects to terminate this Agreement, Buyer and Seller shall execute and deliver an instrument evidencing said termination, and thereupon, with the exception of Seller's right to retain the Earnest Money, neither party shall have any further obligation to the other. c) Default by Seller. In the event of any default under this Agreement by Seller: Provided Buyer is not currently in breach or default hereunder, Buyer may seek specific performance from Seller, provided that Seller shall be provided a notice and right to cure as provided in Sections 8 or 9 above, as the case may be, and, provided further that any action for specific performance shall be commenced within ninety (90) days after the alleged default; or Buyer may terminate this Agreement by notice to Seller. In the event Buyer elects to terminate this Agreement, Buyer and Seller shall execute and deliver an instrument evidencing said termination, and thereupon, with the exception of Buyer's right to a return of the Earnest Money, neither party shall have any further obligation to the other. 11. WAIVER OF BREACH. The failure of either party hereto to enforce any provision of this Agreement shall not be construed to be a waiver of such or any other provision, nor in any way to affect the validity of all or any part of this Agreement or the right of such party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall be held to constitute a waiver of any other or subsequent breach. 12. WELLS, STORAGE TANKS, AND SEPTIC SYSTEMS. Seller certifies to Buyer that Seller does not know of any wells, private septic systems, or underground storage tanks located on or serving the Land. 13. ENVIRONMENTAL REPRESENTATIONS. Seller represents that the Land was part of an environmental cleanup area. Seller certifies to Buyer that Seller does not know of any environmental hazards remaining following the cleanup. 14. BROKERAGE. Seller shall pay Mission Real Estate, LLC a brokerage commission of $15,390 as compensation for the transactions contemplated by this Agreement. Buyer shall be responsible for brokerage commissions, if any, resulting from the leasing or sale of Buyer's development to third parties. 15. CAPTIONS. The captions contained herein are for convenience only and are not a part of this Agreement. 16. SURVIVAL; TERM. The terms of this Agreement shall survive each Closing, it being understood, acknowledged and agreed that a substantial portion of the obligations of Buyer under this Agreement cannot be performed until after each Closing. Accordingly, the terms of this Agreement shall continue in effect until all of Buyer's obligations under this Agreement have been fully paid and satisfied. 17. ENTIRE AGREEMENT. This agreement, including the exhibits attached hereto, contains the entire agreement between Seller and Buyer. All other representations, negotiations and agreements, written or oral, with respect to the Land or any portion thereof, are superseded by this Agreement and are of no force and effect. This Agreement may be amended and modified only by a written instrument executed by both parties hereto. 18. ASSIGNMENT. This Agreement, and rights hereunder, may be sold, assigned or transferred at any time by Buyer to Buyer's parent, affiliates or subsidiaries, any party that merges or consolidates with Buyer or its parent, or any entity which acquires substantially all of the assets of Buyer, without the consent of Seller. As to other parties, this Agreement may not be sold, assigned, or transferred without the prior written consent of Seller, with such consent not to be unreasonably withheld or delayed. For purposes of this paragraph, a "parent," "affiliate" or "subsidiary" means an entity which directly or indirectly controls, is controlled by or under common control with Buyer. In the event of a sale, assignment or transfer to a parent, affiliate or subsidiary, Buyer shall remain liable for the full performance of Buyer's obligations hereunder unless Seller expressly releases Buyer from such liability in writing. 19. NOTICES. Notices required or permitted to be given under this Agreement shall be in writing, and shall be deemed to have been given on the earlier to occur of when personally delivered to the addressee, or when deposited with the United States Postal Service, postage prepaid, certified mail, return receipt requested, addressed as follows: If to Seller: City of Andover 1685 Crosstown Boulevard NW Andover, MN 55304 Tel: (763) 755 -5100 Fax: (763) 755 -8923 with a copy to: Hawkins & Baumgartner, P.A. 2140 Fourth Avenue North Anoka, MN 5303 Attention: Scott C. Baumgartner If to Buyer: Mission Development, LLC 1637 4th Avenue North Sauk Rapids, MN 56379 Tel: (320) 309 -7500 Fax: (320) 257-7447 Either party may change the address(es) to which notice to such party thereafter shall be given, by providing notice of such change to the other party. Any written notice given in a manner other than as provided in this Section 18 shall be effective only upon actual receipt by the addressee(s). A fax (telecopy) shall be deemed written notice provided the receipt thereof is electronically confirmed by the sending machine and an original, manually signed original of such notice also is given on the date of such fax transmission. 20. BUYER'S PRE - CONSTRUCTION REQUIREMENTS. Buyer shall not perform any site grading, site clearance or construction on the Land until all of the following have occurred: a) Payment of Purchase Price. Buyer has acquired fee title to the Land and paid the Purchase Price therefor. 21. BUYER'S ADDITIONAL COVENANTS. Buyer covenants and agrees with Seller that, throughout the term of this Agreement: a) Buyer shall use its best efforts to avoid altering or damaging any subdivision improvements on the Land during any construction on the Land, and shall pay all costs of cleanup and /or repair of such subdivision improvements necessitated by Buyer's activities or the activities of its employees, agents, contractors or subcontractors. 22. AS IS; ALL FAULTS. Subject to Seller's representations, warranties and covenants set forth in this Agreement and in the closing documents, and subject to Buyer's rights to terminate during its due diligence investigation period, Buyer agrees to accept the condition of the Land, including specifically without limitation, the environmental and geological condition of the Land, in an "AS -IS" and with "ALL FAULTS" condition. Buyer's acceptance of title to the Land shall represent Buyer's acknowledgment and agreement that, except as expressly set forth in this Agreement or the closing documents: (i) Seller has not made any written or oral representation or warranty of any kind with respect to the Land (including without limitation express or implied warranties of title, merchantability, or fitness for a particular purpose); (ii) Buyer has not relied on any written or oral representation or warranty made by Seller, its agents or employees with respect to the condition or value of the Land; (iii) Buyer has had an adequate opportunity to inspect the condition of the Land, including without limitation, any environmental testing, and to inspect documents applicable thereto, and Buyer is relying solely on such inspection and testing; and (iv) the condition of the Land is fit for Buyer's intended use. 23. MISCELLANEOUS PROVISIONS. a) Attorneys' Fees and Jury Waiver. If either Party shall be required to employ an attorney to enforce or defend the rights of -such Party hereunder, the prevailing Party shall be entitled to recover reasonable attorneys' fees. EACH PARTY HERETO WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY ANY PARTY IN CONNECTION WITH ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS CONTRACT, THE RELATIONSHIP OF BUYER AND SELLER HEREUNDER OR THE PROPERTY. b) Integration. This Agreement contains the complete agreement between the Parties and cannot be varied except by the written agreement of the Parties. The Parties agree that there are no oral agreements, understandings, representations, or warranties which are not expressly set forth herein. c) Binding Effect. This Agreement shall inure to the benefit of and bind the Parties hereto and their respective heirs, representatives, successors, and assigns. d) Interpretation. The Parties acknowledge and agree that each has been given the opportunity to independently review this Agreement with legal counsel, and /or has the requisite experience and sophistication to understand, interpret, and agree to the particular language of the provisions hereof. The Parties have equal bargaining power, and intend the plain meaning of the provisions herein. In the event of any ambiguity in or dispute regarding the interpretation of this Agreement, the interpretation of this Agreement shall not be resolved by any rule of interpretation providing for interpretation against the party who causes the uncertainty to exist or against the draftsman. This Agreement shall be construed in accordance with the laws of the State of Minnesota. e) Counterpart. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be deemed an original and together shall constitute one and the same instrument. IN WITNESS WHEREOF, the parties hereto have executed this Agreement. SELLER: ANDOVER ECONOMIC DEVELOPMENT AUTHORITY By: Jim Dickinson Its: Executive Director 8 BUYER: Mission Development, LLC By: Its: EXHIBIT "A" Site Plan BUNKER LAKE BOULEVARD 1 PAFW[ONNNQ WN MSWN. 1',is-cl D_welapmeM A, BOSER Redeeelopnrmt Hiding, Ymo, LLC MAKBUILDING SIu = 10,9005E MA%PARKING PROVIDED = G8 PARKING MCUMTIONS: IUSINEW 30,9005F /350 =M SPACES REMIT: 30,9005F/ 3C0- 555PACE5 WNIC: 30,9005F/ 350 • Y3 SPACES bG N.L proposed Business Site plan mxy 5, 3uT< a[ Rooker lake Sonlevard / Ibis Sli eet N.W. MRYJNG.36 j:d _ _ J r PROPERTYLINE EASEMENT EASEMENT BUNKER LAKE BOULEVARD 1 PAFW[ONNNQ WN MSWN. 1',is-cl D_welapmeM A, BOSER Redeeelopnrmt Hiding, Ymo, LLC MAKBUILDING SIu = 10,9005E MA%PARKING PROVIDED = G8 PARKING MCUMTIONS: IUSINEW 30,9005F /350 =M SPACES REMIT: 30,9005F/ 3C0- 555PACE5 WNIC: 30,9005F/ 350 • Y3 SPACES bG N.L proposed Business Site plan mxy 5, 3uT< a[ Rooker lake Sonlevard / Ibis Sli eet N.W. C I T Y O F 5. NDOVE 1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.CI.ANDOVER.MN.US TO: EDA President and Commissioner CC: Jim Dickinson, Executive Director FROM: David L. Carlberg, Community Development Director SUBJECT: Andover Station North Update DATE: May 20, 2014 Dynamic Sealing Technologies, Inc. (13901 Jay Street NV) Closing date is to occur on or before July 1, 2014 for the purchase of the 7.26 acre parcel. Measurement Specialties (1711 139th Lane N4) Groundbreaking ceremony was held on Thursday, May 8th at 2:00 p.m. Mission Development Office Building (13753 Ibis Street NW) EDA held a public hearing and considered purchase agreement to build a 6,000 s.f. office building earlier on tonight's agenda. ACTION REQUESTED Receive update. Respectfully submitted, q,7- 4 61 dsa-�� David L. Carlberg -AN66W . @ 1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.CL ANDOVER. MN. US TO: President and Commissioners FROM: Jim Dickinson, Executive Director David L. Carlberg, Community Dev o rent Director SUBJECT: Redevelopment Area Discussion DATE: May 20, 2014 INTRODUCTION The EDA is requested to receive an update from staff on the redevelopment of the Bunker Lake Boulevard/Crosstown Drive /Crosstown Boulevard area. ACTION REQUESTED The EDA is requested to continue discussions on the redevelopment of this area. Respectfully submitted, aq V-�c David L. Carlberg