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 PM Central Standard Time on the third floor of City Hall, 15 West Kellogg Boulevard, Saint Paul, Minnesota, to consider the sale of the Property to the Purchaser, after due notice thereof was published in the Saint Paul Pioneer Press on DAY; and
WHEREAS, by this resolution the HRA finds a public purpose for the conveyance of the Property,
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota that:
1. The HRA Board of Commissioners hereby approves the sale of the Property to the Purchaser for the Project in consideration of the sum of $228,700.00, and on the other terms and conditions described in the staff report and contained in the Purchase Agreement, and approves the Purchase Agreement and any amendments thereto which do not materially adversely affect the rights or obligations of the HRA, subject to the approval of the Saint Paul City Attorney.
2. The HRA Executive Director, staff and legal counsel for the HRA are further directed and authorized to take all actions necessary to implement this Resolution. The HRA’s Executive Director is authorized to execute any documents and instruments in connection with this Resolution, except that the HRA Chair or designated Commissioner shall execute the deed of conveyance.