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of \AW= City of Elk River .ver Housing and Redevelopment Authority Resolution 23-02 A Resolution Approving a Purchase and Sale Agreement with Ronald J. Touchette for the Sale of the Housing and Redevelopment Authority -Owned Property Located at the Intersection of Main and Gates in the City of Elk River WHEREAS, the Housing and Redevelopment Authority of the City of Elk River (the "Authority") is authorized pursuant to Minnesota Statutes, Section 469.001 to 469.047, to acquire and convey real property and to undertake certain activities to facilitate the redevelopment of real property by private enterprise; and WHEREAS, to facilitate redevelopment of certain property in the City of Elk River, Minnesota (the "City"), the Authority proposes to enter into a Purchase and Sale Agreement (the "Agreement") between the Authority and Ronald J. Touchette (the "Developer"), under which, among other things, the Authority will convey the property located in the City at the intersection of Main and Gates and which is legally described on the attached Exhibit A to the Developer for the construction of an office building by the Developer; and WHEREAS, on Lune 20, 2023, the Authority conducted a duly noticed public hearing regarding the sale of the Property to the Developer, at which all interested persons were given an opportunity to be heard. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Elk River, Minnesota, as follows: 1. The Authority hereby approves the Agreement in substantially the form presented to the Board, including the provisions for the conveyance of the Property therein, together with any related documents or certifications necessary in connection therewith, including without limitation all documents and certifications referenced in or attached to the Agreement, and any deed or other documents necessary to convey the Property to the Developer. 2. Authority staff and officials are authorized to take all actions necessary to perform the Authority's obligations under the Agreement as a whole, including without limitation, execution of any documents to which the Authority is a party referenced in or attached to the Agreement, and other documents necessary to convey the Property to the Authority, all as described in the Agreement. The approval hereby given to the Agreement includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and P011RRI1 11 NA ! UR�