HomeMy WebLinkAboutIV.J. HEDRA Resolution No. 2022-20 - Rescinding Land Sale To Dream1, LLCHASTINGS ECONOMIC DEVELOPMENT AND REDEVELOPMENT AUTHORITY
DAKOTA COUNTY, MINNESOTA
HEDRA RESOLUTION NO. 2022-20
A RESOLUTION TERMINATING AND CANCELLING THE
LAND CREDIT SALE TO DREAM1, LLC
WHEREAS, on April 8, 2021, by and through a simple motion, the Hastings Economic
Development and Redevelopment Authority (“HEDRA”) approved the preliminary land credit
sale of property legally described as Lot 1, Block 2, HASTINGS INDUSTRIAL PARK NO. 7,
Dakota County, Minnesota (PID: 19-32006-02-010) (the “Property”) to Dream1, LLC
(“Developer”); and
WHEREAS, Developer is unable to move forward with development of the Property at this
time; and
WHEREAS, the Developer has not executed the Purchase and Development Agreement
approved by HEDRA; and
WHERES, as a result of the Developer not executing the Purchase and Development
Agreement and indication to City Staff of an inability to move forward with the development at
this time, HEDRA will terminate and cancel the transfer and conveyance of the Property from
HEDRA to Developer.
NOW THEREFORE BE IT RESOLVED by the Board of the Hastings Economic
Development and Redevelopment Authority that the preliminary land credit sale of the Property
from HEDRA to Developer is hereby terminated and canceled.
Adopted by the Hastings Economic Development and Redevelopment Authority this 14th day of
April, 2022.
Ayes:
Nays:
Abstention:
Absent:
Bruce Goblirsch, President
Eric Maass, Secretary