HomeMy WebLinkAbout5.1b Resolution 2022-003 SyndicaCOTTAGE GROVE ECONOMIC DEVELOPMENT AUTHORITY
WASHINGTON COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 2022-003
A RESOLUTION APPROVING THE PURCHASE OF PROPERTY FROM
GLENDENNING FARMS, L.P., WAG FARMS, INC. AND
JOAN GLENDENNING KENNEDY FAMILY LIMITED PARTNERSHIP
AND SALE OF PROPERTY TO SYNDICA, LLP FOR DEVELOPMENT PURPOSES
WHEREAS, the Cottage Grove Economic Development Authority (“EDA”) desires to
purchase and sell approximately 22.4 acres of property from Glendenning Farms, L.P., WAG
Farms, Inc. and Joan Glendenning Kennedy Family Limited Partnership (“WAG”), pursuant to a
Purchase Agreement by and between WAG and EDA (“WAG Purchase Agreement”), for the
purpose of development of certain real property legally described as follows:
Outlot A, Glengrove Industrial Park 5th Addition
Abstract Property
PID 20.027.21.42.0009
(“Parcel 1”); and
WHEREAS, the WAG Purchase Agreement describes and articulates the purchase of
Parcel 1 from WAG and WAG agrees to accept the terms of the sale; and
WHEREAS, the EDA is the fee owner of approximately 3 acres of unimproved real
property, legally described as follows:
Lot 1, Block 1, Glengrove Industrial Park 5th Addition, Except the South 50 feet,
Washington County, Minnesota.
Abstract Property
PID 20.027.21.43.0011
(“Parcel 2”); and
WHEREAS, Parcel 1 and Parcel 2 are collectively known as the “Property;” and
WHEREAS, Syndica, LLP, a North Dakota limited liability partnership (“Developer”)
desires to purchase the Property, pursuant to a Purchase Agreement by and between the EDA and
Developer (“Developer Purchase Agreement”), for a warehouse and parking lot and uses incidental
thereto; and
WHEREAS, the Developer Purchase Agreement describes and articulates the sale of the
Property to Developer and Developer agrees to accept the terms of the sale; and
WHEREAS, on February 8, 2022, the EDA held a public public hearing on the sale of the
Property and the EDA considered all of the information presented at the public hearing.
NOW THEREFORE BE IT RESOLVED by the Board of Commissioners of the Cottage
Grove Economic Development Authority as follows:
1. The purchase of Parcel 1 from WAG and sale of the Property to the Developer 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 such purchase and
sale.
2. The EDA approves the WAG Purchase 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.
3. The EDA approves the Developer Purchase 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 this 8th day of February, 2022.
Myron Bailey, President
Attest:
Jennifer Levitt, Executive Director