HomeMy WebLinkAbout5.1d Resolution 2023-002 HohensteinCITY OF COTTAGE GROVE, MINNESOTA
COTTAGE GROVE ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION 2023-002
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 HOHENSTEIN REAL ESTATE LLC FOR
DEVELOPMENT PURPOSES
WHEREAS, the Cottage Grove Economic Development Authority (“EDA”) desires
to purchase and sell approximately 19.17 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:
Lot 1, Block 1, Glengrove Industrial Park 9th Addition
Abstract Property
PID 21.027.21.32.0007
(“Property”); and
WHEREAS, the WAG Purchase Agreement describes and articulates the
purchase of Property from WAG and WAG agrees to accept the terms of the sale; and
WHEREAS, Hohenstein Real Estate LLC, a Minnesota limited liability
(“Developer”), desires to purchase the Property, pursuant to a Purchase Agreement by
and between the EDA and Developer (“Developer Purchase Agreement”), for a
warehouse, ancillary office, parking lot and other improvements and uses related 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 April 11, 2023, 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 the Property 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.
Cottage Grove Economic Development Authority
Resolution 2023-002
Page 2 of 2
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 11th day of April, 2023.
Myron Bailey, President
Attest:
Jennifer Levitt, Executive Director