Title
Resolution approving and authorizing the sale and conveyance of 1381 Prosperity Avenue located in District 2, Ward 6, to YardHomesMN, SBC, or a wholly owned affiliate, for a sale price of $45,000.00, District 2, Ward 6
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.; and
WHEREAS, the HRA has the power to engage in development or redevelopment activities under Minnesota Law; 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 development, and (e) improving the tax base and the financial stability of the community, 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 Minnesota Statutes section 469.002, subd. 14; and
WHEREAS, the HRA owns property located 1381 Prosperity Avenue (the “Parcel”) which has a legal description as follows: Lot 5, Block 1, except the Westerly 100 feet thereof, Rogers and Hendricks Acre Lots No. 2; and
WHEREAS, on or around May 9, 2021, the HRA received a proposal from YardHomesMN, SBC (“YardHomes”) for the acquisition and redevelopment of the Parcel for private development of a cluster of compact dwellings for a veterans’ village (the “Proposal”); and
WHEREAS, on July 23, 2021, staff distributed and published written notice of the Proposal in accordance with the 45-day written notice requirement in the HRA Disposition Policy and received no comments or competing proposals; and
WHEREAS, staff obtained a private appraisal of the Parcel which determined...
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