Title
Resolution Approving and Authorizing the Sale and Conveyance of Eight Properties to West 7th/Fort Road Federation; Authorization to Enter Into a Development Agreement, and Authorization of Expenditures, District 9, Ward 2.
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, the HRA acquired at different times the following eight properties, namely: 29 Douglas Street and 267 Forbes Avenue (combined), 280 Forbes Avenue, 284 Forbes Avenue, 286 Forbes Avenue, 288 Forbes Avenue, 326 Harrison Avenue, 457 Smith Avenue North and 301 Sturgis Street, all in Saint Paul, Minnesota (collectively the “Properties”); and
WHEREAS, the HRA proposes to sell and convey the Properties to West 7th/Fort Road Federation (“Developer”) under a development agreement (“Development Agreement”) for the rehabilitation of these properties, and sale and use as owner occupied residences on the terms and conditions described in the staff report submitted to the HRA Board with this...
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