2018-028 Authorizing the Acquisition and Sale of Real Property, Approving a Purchase Agreement, Authorizing All Necessary Actions for Such Transactions, and Reapproving and Affirming Other Authorizing Documents CITY OF HOPKINS,MINNESOTA
RESOLUTION NO. 2018-028
RESOLUTION AUTHORIZING THE ACQUISITION AND SALE OF REAL
PROPERTY,APPROVING A PURCHASE AGREEMENT,AUTHORIZING ALL
NECESSARY ACTIONS FOR SUCH TRANSACTIONS,AND REAPPROVING
AND AFFIRMING OTHER AUTHORIZING DOCUMENTS
WHEREAS,the City Council of the City of Hopkins, Minnesota hereby reauthorizes and
affirms the approval of all documents and necessary actions relative to the Development
Agreement by and between the City of Hopkins and Housing and Redevelopment Authority in
and for the City of Hopkins and Doran 810 Apartments, LLC and Doran 810, LLC
("Development Agreement") dated March 4, 2016, and filed for record March 10, 2016, as Doc.
No. T05332355, and any amendments thereto, also including authorizing any and all necessary
actions and accompanying documents required by such Development Agreement; and
WHEREAS, pursuant to a separate Reimbursement and Purchase Option Agreement (the
"Option Agreement") as set forth in the Development Agreement, the City of Hopkins (the
"City") is in the process of acquiring certain real property, including but not limited to, a grade-
level parking garage, and associated improvements within the Moline Development, a 241-unit
rental housing building located at 100 8th Avenue South(the"Moline"); and
WHEREAS, consistent with the intent of the Development Agreement and the Option
Agreement, the Metropolitan Council (the "Met Council") desires to purchase from the City
certain portions of the ground floor of the Moline, including but not limited to, a grade-level
parking garage (the "Premises"), as specifically defined in paragraph 1 of the purchase
agreement, in substantially the form as set forth and attached hereto as Exhibit A (the "Purchase
Agreement"), for the purpose of operating public transit facilities; and
WHEREAS, the City desires to fulfill the terms of the Development Agreement, the
Option Agreement, and to sell the Premises to the Met Council for said purpose and pursuant to
the terms and conditions contained in the Purchase Agreement.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
Hopkins, Minnesota that the recitals and the exhibit set forth in and attached to this Resolution are
incorporated into and made a part of this Resolution.
NOW, THEREFORE, BE IT FURTHER RESOLVED, that the City Council of the
City of Hopkins, Minnesota hereby authorizes, reauthorizes and affirms the approval of all
documents and necessary actions relative to the Development Agreement, and any amendments
thereto, and the Option Agreement, also including any and all accompanying documents required
by such Development Agreement and Option Agreement required for the City's acquisition of
the Premises.
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NOW, THEREFORE, BE IT FURTHER RESOLVED, that the City Council of the
City of Hopkins, Minnesota hereby approves the Purchase Agreement, in substantially the form
as set forth in Exhibit A, between the City and the Met Council for the sale of the Premises for
the purchase price of $3,450,000.00, subject to modifications that do not alter the intent and
terms of the Purchase Agreement and that are approved by City staff and the City attorney,
provided that execution of the Purchase Agreement shall be conclusive evidence of approval, and
authorizes the Mayor and City Manager to execute said Purchase Agreement on behalf of the
City and undertake all necessary actions and to execute and deliver all documents necessary to
facilitate and complete the sale of the Premises by the City in accordance with the terms and
conditions set forth in this Resolution.
NOW, THEREFORE, BE IT FINALLY RESOLVED, by the City Council of the City
of Hopkins, Minnesota that the Mayor, City staff, City attorney and City consultants are hereby
authorized and directed to take any and all additional steps and actions necessary or convenient
in order to accomplish the intent of this Resolution.
Approved this 20th day of March, 2018,by the City Council of the City of Hopkins,Minnesota.
CITY OF HOPKINS,MINNESOTA
fI/
Attest:
Molly C mmings, Mayor
CGOCiAA-ek,
Amy Domeier, City Clerk
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