Title
Resolution Approving and Authorizing Acquisition of 629 Whitall Street, Saint Paul, Minnesota, District 5, 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. (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, staff of the HRA recommends to the HRA Board of Commissioners the acquisition of 629 Whitall Street, Saint Paul, Minnesota (“Property”) for the purposes described in the staff report submitted to the HRA Board with this resolution; and
WHEREAS, staff has negotiated a purchase and sale agreement (“Purchase Agreement”) with BAM Coffee, LLC for the acquisition of the Property; and
WHEREAS, a $75,000 grant has been recommended by the Ward 6 Neighborhood STAR Year-Round Program (“STAR Funds”) and staff has identified $75,000 in ISP funds for a total of $150,000 to finance the acquisition of the Property and closing costs on the Property, as more fully described in the staff report; and
WHEREAS, by this resolution the HRA finds a public purpose for the acquisition 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. Subject to the City Council approval of the use of $75,000 in Year Round STAR funds for acquisition of the Property, the HRA Board of Commissioners hereby approves the acquisition of the Property and $75,000 in ISP funds to go towards acquisition of the Property on the terms and for the purposes described in the staff report
2. The HRA Executive Director is authorized and directed to finalize all documents and agreements necessary to effectuate the acquisition of the Property.
3. 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 agreements, documents and instruments in connection with this Resolution.