Title
Resolution Approving and Authorizing Sale of HRA Owned Property Located at 672 University Avenue West to Haung Xieng Partnership and Execution of a Purchase and Sale Agreement, District 8, Ward 1
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") is a public body corporate and politic established pursuant to the provisions of Minnesota Statutes, Section 469.001, et seq. (the “Act”); and
WHEREAS, the HRA has the power to engage in development or redevelopment activities under Minnesota law and the HRA is authorized to engage in activities relating to (a) housing projects and development, (b) removal and prevention of the spread of conditions of blight or deterioration, (c) bringing substandard buildings and improvements into compliance with public standards, (d) disposition of land for private redevelopment, and (e) improving the tax base and the financial stability of the community, and to engage in the aforementioned activities when these needs cannot be met through reliance solely upon private initiative and which can also be undertaken in targeted neighborhoods; and is authorized to create redevelopment projects as defined in Minn Stat Section 469.002, Subd. 14; and
WHEREAS, Haung Xieng Partnership (“Purchaser”) is proposing to purchase land from the HRA at 672 University Avenue West (“Property”) to maintain current use as a surface parking lot (the “Project”), and the Project is more fully described in the staff report submitted to the HRA Board with this resolution; and
WHEREAS, the Purchaser is requesting to enter into a purchase agreement (“Purchase Agreement”) with the HRA that will detail the terms of sale of the land and the obligations of the Purchaser and HRA with respect to such sale, such terms and obligations being more fully described in the staff report; and
WHEREAS, the HRA Board of Commissioners held a public hearing on June 8, 2016 at 2:00...
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