Title
Resolution Approving the Sale of Land and Conveyance of Parcel 459 Banfil Street under the ISP Program (Smith Street Development Area), West Seventh District 9.
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (HRA), has duly adopted and there is now lawfully in effect in the City of Saint Paul, Minnesota, a City Wide Comprehensive/Redevelopment Plan (Plan) providing for the acquisition, clearance and resale of land for redevelopment which includes the West Seventh District 9 area within the Plan and the City Consolidated Five-Year Plan; and
WHEREAS, on August 8, 2007 the City Council approved the issuance of STAR Bonds under (Resolution 07-725) and approved overall ISP budget under (Resolution 07-726); HRA approved by Resolution 07-08/08-3 the Invest Saint Paul Program (ISP) Initiative, Work Plan and Budget; and
WHEREAS, on February 25, 2009 the HRA approved the Neighborhood Stabilization Program and Rebuilding Plan 2009-2013 under Invest Saint Paul Initiative and approved a budget amendment to carry out Programs/Plans which included the acquisition of properties in designated ISP/NSP areas; and
WHEREAS, the increased economic stress these neighborhoods are under with high vacancy and foreclosures creates an opportunity to secure strategic properties in accordance with the ISP/NSP Programs and the Strategic Acquisition Criteria that has been identified and guides the selection of properties for acquisition and addresses the issues and concerns identified by the communities through an extensive neighborhood outreach effort undertaken through the Invest Saint Paul Initiative; and
WHEREAS, the property at 459 Banfil Street was acquired under the ISP Program on August 12, 2009, the house had been vacant for almost one year and the community wanted to ensure it remained owner-occupied; and
WHEREAS, HRA is offering NSP/ISP houses through a fair and open marketing process which complies with the Department of Housing and Urban Development's Fair Housing Advertising policy (Part 109) and fair marketing practices; and
WHEREAS, Lam and Meredith Nguyen wish to purchase the property at 459 Banfil Street which had been totally rehabilitated by HRA and available for purchase under the ISP/NSP Program; and
WHEREAS, said proposal, pursuant to due notice thereof was published in the Saint Paul Pioneer Press on May 12, 2012, and a public hearing on said proposal and proposed sale and provisions thereof, was held on Wednesday, May 23, 2012 at 2:00 p.m., Central Daylight Time, third floor City Hall, 15 West Kellogg Boulevard, in the City of Saint Paul, Minnesota; and
WHEREAS, the HRA, pursuant to the provisions of Minnesota Statutes, Section 469.029 and 469.032 agrees to sell the Parcel for use in accordance with the Invest Saint Paul/Neighborhood Stabilization Program and Rebuilding Plan which meets the activities identified in the City Wide Redevelopment Plan and City Consolidated Plan; and
WHEREAS, the HRA and Lam and Meredith Nguyen entered into a Purchase Agreement for the sale and conveyance of Parcel 459 Banfil Street on April 27, 2012, a fully rehabilitated single family home in accordance with approved Invest Saint Paul/Neighborhood Stabilization Program on file for use as their single family residence; and
WHEREAS, the disposal price of the Parcel is in accordance with and subject to the restrictions of the Invest Saint Paul/Neighborhood Stabilization Program, City Wide Redevelopment Plan and Consolidated Plan which takes into consideration the development/rehabilitation costs.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota as follows
1. That the Purchase Agreement submitted by Lam and Meredith Nguyen to purchase Parcel 459 Banfil Street located in District 9 West Seventh, and within Invest Saint Paul Activity area hereby conforms to the objectives and specific requirements of the Invest Saint Paul Initiative and meets the intended reuse as identified in the City Wide Comprehensive Plan and Consolidated Plan. The Parcel is legally described as:
459 Banfil Street - Lot 24, Block 19, E. H. Hawke's Subdivision to Winslow's Addition to the Town of St. Paul, Ramsey County, Minnesota.
2. That the method of disposition of the Parcel is in accordance with the Invest Saint Paul Program and Rebuilding Plan 2009-2013 under the Invest Saint Paul Initiative, City Wide Redevelopment Plan and Consolidated Plan and is the appropriate method of making the Parcel available for redevelopment.
3. That the sale of Parcel in the amount of $165,000.00 is satisfactory and in accordance with Sec. 469.032 and are following the Invest Saint Paul Program which has incorporated some of the requirements from the Neighborhood Stabilization Program, and the use and restrictions are in conformance with the City Wide Redevelopment Plan and Consolidated Plan.
4. That Lam and Meredith Nguyen have the qualifications and financial resources to acquire the Parcel in accordance with the Invest Saint Paul Program and Rebuilding Plan 2009-2013 under the Invest Saint Paul Initiative and strategic acquisition activities.
5. That the proposed disposal transaction by and between HRA and Lam and Meredith Nguyen is satisfactory in form and complies with the requirements of state and federal law for the Parcel
6. That ISP funds for Homebuyer Incentive Program to be used towards the acquisition of the Parcel in the amount of $14,500.00 will be provided under the approved Invest Saint Paul Initiative and will be secured with a Mortgage and Note against the property to insure the Parcel remains homeownership.
7. That said Purchaser Agreement is satisfactory and the same is hereby accepted, and the execution and delivery of said Deed of Conveyance to Lam and Meredith Nguyen for the Parcel is hereby authorized by the Board of Commissioners to be executed on its behalf by the Chairperson or his/her designated Commissioner of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota.
8. That financing assistance is satisfactory and meets the terms and conditions of the ISP funding requirements, and other obligations, and the execution and delivery of the said Mortgage documents and other required documents are hereby authorized by the Board of Commissioner of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota.
9. That the Executive Director of the Housing and Redevelopment Authority of the City of Saint Paul is hereby authorized to negotiate, agree to any amendments/changes, deletions or revisions to conclude the sale and conveyance of this Parcel which do not substantially change the rights or obligations of the Housing and Redevelopment Authority of the City of Saint Paul or Purchaser under the Purchase Agreement and take such further action necessary to implement this Resolution.
10. That the Budget Amendment outlined in the HRA Report and in Attachment A is hereby approved