HomeMy WebLinkAbout5.1b Resolution 2022-006 Hang LLCCITY OF COTTAGE GROVE, MINNESOTA
COTTAGE GROVE ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION 2022-006
A RESOLUTION APPROVING THE SALE OF PROPERTY
TO HANG LLC FOR REDEVELOPMENT PURPOSES
WHEREAS, the Cottage Grove Economic Development Authority (“EDA”) desires
to sell the property legally described as follows:
Lot Eight (8), Block Ten (10), Thompson Grove Estates 8th Addition
Abstract Property
PID: 17.027.21.24.0027
(“Property”); and
WHEREAS, Hang LLC, a Minnesota limited liability company (“Buyer”), desires to
purchase the Property for the purpose of constructing a restaurant and related
improvements as articulated in the Purchase Agreement between the EDA and Buyer;
and
WHEREAS, on April 12, 2022, the EDA held a 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 sale of the Property to Buyer 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 sale.
2. The EDA approves the Purchase Agreement and authorizes the
appropriate officials to take such action as to effectuate its execution and
implementation.
Passed this 12th day of April, 2022.
Myron Bailey, President
Attest:
Jennifer Levitt, Executive Director