HomeMy WebLinkAboutIV.B.1 - Resolution - Lease Agreement - 418 Vermillion St1
HASTINGS ECONOMIC DEVELOPMENT AND REDEVELOPMENT AUTHORITY
DAKOTA COUNTY, MINNESOTA
HEDRA RESOLUTION NO. 2023-06
A RESOLUTION AUTHORIZING SIGNATURE OF A LEASE AGREEMENT FOR
PROPERTY GENERALLY LOCATED AT 418 VERMILLION STREET
WHEREAS, the Hastings Economic Development and Redevelopment Authority
(“HEDRA”) has executed a Purchase Agreement with Twelve Thirteen Properties, L.L.C.
(“Twelve Thirteen”) dated March 22, 2023, for acquisition of property generally located at 418
Vermillion Street and legally described as follows:
Parcel 1:
The South 66.5 feet of North 105 feet, except the North 21.5 feet of West 7.5 feet and except
the South 3.5 feet of West 5.5 feet of North 25 feet of Lot 8, Block 28, Town of Hastings, Blocks
1 through 99, Dakota County, Minnesota
Abstract Property
Property ID: 19-32150-28-086, 19-32150-28-087
Parcel 2:
Part of Lots 7 and 8 commencing 33 feet East of Northwest corner of Lot 7, South 38.5
feet, East 13 feet, South 25 feet, East 25.5 feet, North 3.5 feet, West 21.5 feet North 60 feet,
West 17 feet to beginning of Lot 8, Block 28, Town of Hastings, Blocks 1 through 99, Dakota
County, Minnesota
Abstract Property
Property ID: 19-32150-28-080
(the “Property”) for acquisition and lease purposes; and
WHEREAS Section 5.1.1.6 of the Purchase Agreement establishes a contingency prior to
property sale for execution of a Lease Agreement for the lease-back of the property by Twelve
Thirteen from HEDRA; and
WHEREAS Section 6.1.3 of the Purchase Agreement establishes certain terms for the
Lease Agreement.
NOW THEREFORE BE IT RESOLVED by the Board of the Hastings Economic
Development and Redevelopment Authority as follows:
2
1. The Lease Agreement is in the public interest of the city and its people, furthers its
general plan of economic development and furthers the aims and purposes of Minn.
Stat. Sections 469.090 to 469.108; and the appropriate officials are authorized to take
such action so as to effectuate execution of the agreement.
2. HEDRA approves the Lease Agreement, subject to minor modification as approved by
the City Attorney and the appropriate officials are authorized to take such action as to
effectuate its execution and implementation.
Adopted by the Hastings Economic Development and Redevelopment Authority this 4th day of
May 2023.
Ayes:
Nays:
Absent: Horsch and Carter
Trevor Johnson, Vice President
John Hinzman, 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 4th day of May 2023, as disclosed by the records of the City of Hastings
on file and of record in the office.
John Hinzman, Secretary
