HRA Agenda 05-06-1996AGENDA
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Monday, May 6, 1996 - 4:00 p.m.
City Hall
MEMBERS: Chairperson AI Larson, Via Chairperson Brad Barger, Tom St. Hilaire, and
Roger Carlson.
STAFF: Rick Wolfsteller, Jeff O'Neill, and 011ie Koropchak.
GUEST: Barry Fluth.
CALL TO ORDER.
2. CONSIDERATION TO ADOPT A RESOLUTION AUTHORIZING
ACQUISITION OF THE PROPERTY LOCATED AT 111 WEST BROADWAY.
3. OTHER BUSINESS.
C1llOLf111 ti:1& l a2Y M
C
FOR YOUR INFORMATION
PUBLIC NOTICE
j Pursuant to the provisions of Minnesota Statutes 471.705, a special
meeting of the MONTICELLO HOUSING b REDEVELOPMENT AUTHORI'Tth hereby
scheduled for the following time, date, and place:
TIME: 4:00 P.M.
DATE: MONDAY, MAY 6, 1996
PLACE: MONTICELLO CITY HAIL, 250 EAST BROADWAY
SUBJECT: ' CONSIDERATION TO APPROVE A PURCHASE AGREEMENT FOR
THE PROPERTY LOCATED AT 111 WEST BROADWAY.
w; 06 '96 12:Vf4 KENED( & GRRVD4 p.2
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO
RESOLUTION NO.
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Monticello ("Authority") administers its Redevelopment Project No. 1 (the "Project")
in the City of Monticello, pursuant to Minnesota Statutes, Sections 469.001 to 469.047
( the "HRA Act") ; and
WHEREAS, the Authority In authorised under the HRA Act to acquire,
including by exercise of the powers of eminent domain, real property that is
necessary to eliminate blight or to carry out the Project; and
WHEREAS, the Authority has determined a need to acquire certain property
in the City located in the Project area described as Lots 7 and 8, Block 2, except the
southeasterly 16.5 feet of the southwesterly 90 feet of Lot 8 (the "Property") , which
property is currently in blighted condition and acquisition of which Is necessary to
carry out the Authority's goals and objectives for downtown redevelopment and the
Project as a whole; and
WHEREAS, in lieu of acquisition of the Property by the Authority through
eminent domain, the owner of the Property has proposed and the Authority has
reviewed that certain Standard Purchase Agreement between the Authority and _
(the "Purchase Agreement") providing for
acquisition of the Property by the Authority;
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Monticello as follows:
1. The Authority finds and determines that acquisition of the Property by
exercise of the Authority's power of eminent domain is necessary in order to
eliminate blighted conditions and to carry out the redevelopment plan for the Project.
2. In lieu of acquisition through eminent domain, the Authority approves the
Standard Purchase Agreement in substantially the form presented to the Authority.
3. The proper Authority officials are authorized to execute the Standard
Purchase Agreement and to acquire the Property in aecordaneo therewith.
4. Authority officials and staff are authorized to execute any documents or
cordficatos and take any other actions necessary to acquire the Property under the
terms of the Purchase Agreement.
Approved by the Housing and Redevelopment Authority In sad for the City of
Monticello this _ day of May, 1999.
Chair
ATTEST:
Rxooutivo DUrooter
&MUM
rieort
STANDARD
,fi nn,ap,L., MN )'KI.l.1IW Ru..r*. t •up.
°h ""~ "•""^" PURCHASE AGREEMENT I-INR Ruv.:, R—ipt
MONTICELLO MAY 6 96
. Minnesota .19 _
RECEIVED OF HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF MQN110ELL0 _
lie sum of ONE THOUSAND DOLLARS AND NO CENTS Dollars Is 11000-00
)
by CHECK as earnest money to be deposited the nen business day after acceptance in trust account of listing broker
lunless otherwise specified in writing) and in part payment for the purchase of the premises legally described as
LOTS 7 AND 8, BLOCK 52, EXCEPT SELY 16.5 FEET OF SWLY 90 FEET OF LOT 8
located at (Street Address) III WEST BROADWAY
C.tyof MONTICELLO ,County of WRIGHT State of Minnesota.
including all plants, shrubs and trees, all storm windows and/or inserts, storm doors, screens. awnings, window shades, blinds, curtain-
Iraverse drapery rods, attached lighting fixtures with bultys, plumbing futures, water heater, heating system, humidifier. central air conditioning,
electronic air filter, automatic garage door opener with controls, water softener, cable television outlets and cabling. BUILT-INS to include
dishwasher, garbage disposal, trash compactor, oveMs). cooktop stove. microwave oven, hood -Ian, intercom, installed carpeting. IF ANY,
located on the premises which are the property of Seller and also the following personal property
all of which property Seller has this day sold to Buyer for the sum of a 50 , 000.00
FIFTY THOUSAND DOLLARS AND NO CENTS Dollars.
which Buyer agrees to pay in the following manner: Earnest money of 6 1,000.00 and
a 49,000.00 rash on or before MAY 31, 1996 . the date of closing. and the balance
of 6 by financing as follows
AffarJtsd we I addendums which are made a pan ol this agreement. UNRESTRICTED
SUBJECT TO performance by Buyer. Seller agrees to execute and deliver a Warranty Deed.
to be joined in by spouse. d any, conveying marketable title to the premises subject only to the following exceptions.
(11 Building and zoning laws, ordinances. Slate and Federal regulations (2) Restrictions relating to use or improvement of the premises without
effective forfeiture provision 13) Reservation of any minerals or muuefal rights to the State of Minnesota (4) Utility and drainage easements
M�oc�h do�� not interfere with present improvements (5) Rights of tenants, d any
REAL E3T*TE TAXES Seller agrees to pay _ / 12:hs and Buyer agrees to pay / 121hs of taxes due and payable m n
19 — Seller agrees to pay 411ths and Buyer agrrms to pay / 121hs of annual installc3a ra assessments due
and payable in the year 19 _. agrees to on Lining all special assessments levied and pending
Buyer shall pay taxes due end payable in the _ end any unpai 'hglel is of special assessments payable iherewitl
and thmeaher. Seller axes due and payable in the veer 19 will be homestead
pias at Seller nor Seller's Agent makes any representation concerning the omotml of future real estate
' WARRANTIES Seller warrants that buildings, if any, are entirely within the boundary lines of the premises Seller warrants that all
appliances. heating and air conditioning, wiring and plumbing used and located on the premises are in proper working order on date of closing
Buyer has right to inspect premises prior to closing Buyer shall satisfy himself/herself at his/her expense that all appliances. heating oral air
conditioning, wiring and plumbing are in proper working order before closing Seller warrants that the premises are connected to city sever
U yes - O no, city water ❑ yes - U no If the premises are destroyed or substantially damaged M fire or any other cause before the
closing date, this agreement shall become null and void of Buver's option, and the earnest money shall be refunded to Buyer
POSSESSION Seller agrees to deliver possession not later than closing
All interest, city water end sewer charges. electricity and natural gas charges. fuel oil and liquid petroleum gas shall ba poo -rated hetween the
parties as of Seller agrees to remove all debris and all personal properly not included herein from the
premises before possession date
TITLE 6 EXAMINATION Sellar shall, within a reasonable time after acceptance of thie epreomem, furnish an Abstract of Title. a e
9egistefed Property Abstract, certified to date to include proper searches cover ing bankruptcies. Steteand Federal judgments and hens Buyer
'ell be allowed 10 business days after receipt for examinatton of title and making any objections. which shall be made in wiling or deemed
waived It any objeciin is so made. Seller shall be allowed 120 days to make title marketable Pending correct ion of title, payments hereunder
required shall be postponed, but upon correction of title and within 10 days after mitten notice to Buyer, the parties shall perform this
agreement accof ding to its terms If title is not corrected within 1 20 days hom the dale of mallten objecur ri, Ihls agreemenl shall he null and
vnd, m option of Buyer, neither parry shall be liable for damages hereunder to the other, and earnest money shalt be refunded to Buyer
DEFAULT It lit to is may kereblo or is corrected within sed lima, and Buyer defaults tit any of the agreements harem, Seller may for minate this
agreement, and on such tonmmatgn all payments made hereunder shall be retained by Seller and Agent. as their respective interest a may appear,
as liquidated damages, time being of the essence hereof This pi msion shall not dept, rve either panyof the right of enforcing the specific printer mance
of this trip oareeni. pf ovrtled this agr aomont is not lot mrnatat and action to enforce specific performance is commenced within an merit hs alter
suchnghtolncUonanses In the event Buyer defaults cit his per fOpmance of the lop n's of this Agreement, and Notice of Cancellation is
served upon the Buyer pufsunnt to MSA 559 21, the Inrm'nnhnn period shall he thirty (30) days as permitted by Subdivision 4 of MSA
55921
ACCEPTANCE Buyer understands and agrees that this sale is subject to acceptance try Sella in vnnrng Agent to not liable on responsible
on account of this agreement, except to return a account fa the earnest money
AGENCY DISCLOSURE tlpaletes he or site Is representing Me
In this Irengcllon. The listing pent or broker sllpulates he or the Is representing the Niger In this transaction.
I, the owner of the premises, accept this agreement and I agree to purchase the premises lot the price and on the terms and
the sate hereby made conditions set forth above
SELLER BUYER
BARRY D. FLUTH HRA CHAIRPERSON
SELLER BUYER
BARBARA A. FLUTH (IRA EXECUTIVE DIRECTOR
Duhvoit, ul all papas and manias shall be mate at the office of
Company Selling Agent
Address City Zip
THIS IS A LEGALLY BINDING CONTRACT. IF NOT UNDERSTOOD, SEEK COMPETENT ADVICE.
i
ADDZNDUM
Buaers
ug' obllPtims hereunder are contingent upon the following terms and
cond
1. This purchase Agreement must be approved by the Housing and
Redevelopment Authority in and for the City of Monticello at a duly noticed special
meeting on or before Sky 8, 1888. if such approval io not given, this Purahese
Agreement shall become null and void and the earnest money shall be handed to
Buyer.
2. Buyer acknowdedgas that it to acquiring the subject property through
negotiation in lieu of condemnation by Chs Buyer, oonth4pnt upon determination by
Buyer at the time of approval of the Purchase Agreement that acquisition of the
subject property by condemnation or negotiation is necessary in order to carry out
the Buyer's redevelopment pian for Redevelopment Project No. 1.
3. Seiler sheri pay all real estate traces payable through 1885. Real estate
tames payable In 1888 shall be protested between Buyer and Seller.
d. Buyer shall assume .and pay at closing all outstanding special
assessments.
,&mumu
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end N3W& t AtliWM WiSt 96, E8 AW
I
CITY OF MONTICELLO
GENERAL FUND 40379
250 EAST BROADWAY NQ
MONTICELLQ MN 65362 NVOUgM SAM UDWTCZ=
PO Box ra
% MONTCELLO, W I&W
am CHECK NO AMOUNT
5/3/96 40379 $1.000-00
pKf TO
THE BARBARA A FLUTH
ORDER
OF
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