HomeMy WebLinkAboutIV.G. HEDRA Resolution No. 2022-05 - Authorizing Signature for FIrst Amendment to Purchase and Development Agreement between HEDRA, City of Hastings, and NJS Development, LLCCITY OF HASTINGS
DAKOTA COUNTY, MINNESOTA
HEDRA RESOLUTION NO. 2022-05
A RESOLUTION OF THE HASTINGS ECONOMIC DEVELOPMENT AND
REDEVELOPMENT AUTHORITY (HEDRA) AUTHORIZING SIGNATURE OF THE FIRST AMENDMENT TO A
CONTRACT FOR PRIVATE DEVELOPMENT WITH NJS DEVELOPMENT, LLC
WHEREAS, by Resolution No. 2021-21, the Hastings Economic Development and Redevelopment
Authority (“HEDRA”) authorized staff to terminate and existing contract for private development and
enter into a new contract for private development of the real property described on Exhibit A (the
“HEDRA Property”) for redevelopment purposes to NJS Development, LLC (“Developer”); and
WHEREAS, the Developer will be constructing the Project on the real property legally described
on Exhibit B (the “Property”); and
WHEREAS, the Development Contract describes and articulates the sale of the Property and the
Developer agrees to accept these terms of the sale; and
WHEREAS, the proposed first amendment would establish that application for Land Use
Entitlements are due from the Developer by the Contingency Date which is April 10, 2022 resulting in a
closing date of on or before June 9, 2022, commencement of construction no later than June 15, 2022,
and construction completion by December 31, 2023; and
NOW THEREFORE BE IT RESOLVED by the Board of the Hastings Economic Development and
Redevelopment Authority as follows:
1) HEDRA authorizes signature for the First Amendment to Development Agreement between
HEDRA and NJS Development, LLC
ADOPTED BY THE HASTINGS ECONOMIC DEVELOPMENT AND REDEVELOPMENT AUTHORITY
THIS 13TH DAY OF January, 2022.
Ayes:
Nays:
Absent:
____________________, President
Eric Maass, Secretary
I HEREBY CERTIFY that the above is a true and correct copy of resolution presented to and adopted by the
Hastings Economic Development and Redevelopment Authority, County of Dakota, Minnesota, on the 13th
day of January 13, 2021, as disclosed by the records of the City of Hastings on file and of record in the
office.
Eric Maass, Secretary
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
Real property in Dakota County, Minnesota legally described as follows:
PID: 19-32150-17-030 (Abstract Property)
Lot Three (3) in Block Seventeen (17) in the Town (now city) of Hastings, according to the plat thereof
now on file and of record in the office of the County Recorder in and for Dakota County, Minnesota.
PID: 19-32150-17-020 (Abstract Property)
All of Lot One (1), Block Seventeen (17) in the Town of Hastings, excepting therefrom, however, all that
portion lying northeasterly of a line 25 feet southwesterly of, measured at right angles and parallel with,
the centerline of Chicago, Milwaukee, St. Paul, and Pacific Railroad Company’s spur track as now there
laid across Bailey Street in said Town of Hastings, Dakota County, Minnesota; and
ALSO
All of Lot Two (2), Block Seventeen (17), Town of Hastings, excepting therefrom the West two-thirds (W
2/3) of the North half (N 1/2) of said Lot Two (2) and further excepting therefrom the West one-third (W
1/3) of the South half (S 1/2) of said Lot Two (2), Town of Hastings, Dakota County, Minnesota.
PID: 19-32150-17-021 (Abstract Property)
The North 1/2 of the West 1/2 of the East 2/3 of Lot 2 and the West 1/3 of Lot 2, Block 17, Town of
Hastings, Dakota County, Minnesota.
PID: 19-32150-17-080 (Abstract Property)
Lots 7 and 8, Block 17, Town of Hastings, Dakota County, Minnesota.