Title
RESOLUTION AUTHORIZING THE DULUTH ECONOMIC DEVELOPMENT AUTHORITY'S ACQUISITION OF CERTAIN REAL PROPERTY IN THE DOWNTOWN DISTRICT FROM GARRICK LAND, LLC
Body
CITY PROPOSAL:
WHEREAS, on July 24th, the Duluth Economic Development Authority ("DEDA") authorized the proper DEDA officials enter into an agreement with Garrick Land, LLC., substantially in the form of the agreement attached hereto for the acquisition of real property in the Downtown District described below for the sale price of $545,000, in support of blight mitigation and redevelopment activities on this site.
Parcel 1:
The Northerly 75 feet of Lots 26, 28, 30 and 32, West First Street, Duluth Proper First Division, St. Louis County, Minnesota.
Parcel 2:
The Southerly 65 feet of Lots 26, 28, 30 and 32, West First Street, Duluth Proper First Division, St. Louis County, Minnesota.
BE IT RESOLVED, that the proper City officials hereby authorize DEDA to expend $545,000 for the purchase of the above parcels.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize DEDA expending $545,000 for the acquisition of real property at 128 W 1st Street and 18 N 2nd Street from Garrick Land, LLC in support of blight mitigation, historic preservation, and redevelopment of the properties.
DEDA plans to promptly demo the property at 18 N 2nd Street, while also ensuring the shoring and stabilization of the adjacent property at 128 W 1st Street. DEDA intends to partner with a private developer for redevelopment and restoration of the site at 128 W. 1st Street - which will consist of mixed-use development, including affordable housing; and for the redevelopment of the site at 18 N 2nd Street - which will also include mixed-use housing development. This acquisition is a crucial step toward downtown revitalization and addressing our community's need for more housing.
DEDA provided authorization of the agreement and acquisitio...
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