Title
Authorizing the City to enter into an Assignment Agreement and Use Agreement (which include indemnification language, and other documents as necessary) to close on the purchase of the property at 60 West Sycamore Street to house the Department of Public Works Solid Waste and Recycle Operations.
Body
WHEREAS, the City of Saint Paul ("City"), acting through its Department of Public Works, seeks to purchase the commercial property (facility and land) located at 60 West Sycamore Street in Saint Paul (the "Property") for the department’s Solid Waste and Recycling Operations; and
WHEREAS, the Property will house the programming, customer service and collection staff, equipment and vehicles for the Solid Waste and Recycling Operations, and will also include an education center, expanded recycling drop off center, and a year-round free re-use center; and
WHEREAS, the purchase of the Property aligns with mayoral priorities as presented in the 2024 State of Our City Address and with the Garbage Advisory Committee Report recommending the City provide: collection services to 10% of organized collection properties; cart inventory maintenance duties; customer service; and billing functions; and
WHEREAS, the owner of the Property, P&P Holdings, LLP (“P&P”), and the City intend to close on the sale of the Property pursuant to a Purchase and Sale Agreement executed July 27, 2024; and
WHEREAS, P&P currently leases the entirety of the Property to Transaxle LLC (“Transaxle”), pursuant to a master lease agreement (“Master Lease”); and
WHEREAS, CT Holdings, Inc. (“CT Holdings”), an affiliate of P&P, subleases part of the Property from Transaxle, pursuant to a sublease agreement (“Sublease”); and
WHEREAS, concurrent with the closing on the sale and purchase of the Property, P&P wishes to assign its interest as landlord under the Master Lease to the City pursuant to an assignment of master lease and sublease agreement (“Assignment Agreement”), attached hereto as Exhibit A; ...
Click here for full text