HomeMy WebLinkAboutIV.E. HEDRA Resolution No. 2021-06 - Approving Conditional Land Sale of 317 3rd Street E with Mr. Luke SiewertCITY OF HASTINGS
DAKOTA COUNTY, MINNESOTA
HEDRA RESOLUTION NO. 2021-06
A RESOLUTION OF THE HASTINGS ECONOMIC DEVELOPMENT AND
REDEVELOPMENT AUTHORITY (HEDRA) DIRECTING STAFF TO PREPARE A PURCHASE AND
DEVELOPMENT AGREEMENT FOR THE SALE OF PROPERTY LOCATED AT 317 EAST 3RD STREET AND
IDENTIFIED TO PID 19-32150-15-080 TO MR. LUKE SIEWERT.
WHEREAS, the Hastings Economic Development and Redevelopment Authority (HEDRA) is a
local governmental agency with the authority to grant financial assistance to businesses under
Minnesota Statutes Chapters 116J.993 and 469; and
WHEREAS, HEDRA owns property generally located at 317 3rd Street E, legally described as Lot 8,
Block 15, TOWN OF HASTINGS, Dakota County, Minnesota (Subject Property); and
WHEREAS, HEDRA acquired the Subject Property from the Hastings Housing and Redevelopment
Authority (HRA) upon dissolution of the HRA in 2009; and
WHEREAS, The HRA acquired the Subject Property in 1985 for $51,000.00, removed the home
and constructed a parking lot on the Subject Property; and
WHEREAS, HEDRA has determined that the parking lot is no longer necessary and has identified
the Subject Property for redevelopment;
WHEREAS, the Dakota County Property Assessor estimated the value of the Subject Property to
be $54,000 with an additional $5,800 worth of improvements for a total 2020 estimated valuation of
$59,800 (Assessed Value); and
WHEREAS, Luke Siewert (Developer) desires to acquire the Subject Property from HEDRA for
one dollar ($1.00) for construction of an apartment building; and.
WHEREAS, HEDRA has established the following benchmarks for granting a public subsidy which
can be considered in the absence of verified financial information demonstrating a financial justification
for the subsidy: increase in the tax base, encouragement of redevelopment and development in city-
designated areas if proper justification for that subsidy can be determined; eliminate substandard
buildings or blighting conditions; and encouragement of the re-use and rehabilitation of historic
properties and of sound, safe buildings, commercial, and residential; and
WHEREAS, HEDRA supports redevelopment of the Subject Property and providing a public
subsidy in the form of a reduction in the price of land based upon the proposed project being consistent
with established benchmarks; and
WHEREAS, HEDRA adopted Resolution 2021-03 on February 11th, 2021 which approved the
exclusive land sale negotiations of the Subject Property with Luke Siewert (Developer) through May 31,
2021.
NOW THEREFORE BE IT RESOLVED, that HEDRA takes the following actions related to the sale of
the Subject Property:
1) HEDRA directs staff to prepare a Purchase and Development Agreement for the sale of the
Subject Property to the Developer for $1.00.
ADOPTED BY THE HASTINGS ECONOMIC DEVELOPMENT AND REDEVELOPMENT AUTHORITY
THIS ___ DAY OF __________, 2021.
AYES:
NAYS:
ABSENT:
Dennis Peine, President
Eric Maass, Secretary
This instrument drafted by:
City of Hastings (EM)
101 East 4th Street
Hastings, MN 55033