Title
Resolution approving and authorizing the sale and conveyance of 754 Randolph, Saint Paul, MN to 754 Randolph, LLC.; and authorization to enter into a development agreement, 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, on December 13, 2017 by Resolution No. 17-1978 the HRA Board awarded tentative developer status to M.O.E. Craft Company, LLC (“Craft”) for the redevelopment of Fire House #10 located at 754 Randolph, Saint Paul, MN (“Property”) to construct a new craft brewery and artisan restaurant; and
WHEREAS, Craft formed a new entity called 754 Randolph, LLC (“Developer”) to redevelop the Property; and
WHEREAS, the Property is currently owned by the City of Saint Paul and staff is going through the process of obtaining the City Council’s approval of transfer of title to the HRA; and
WHEREAS, HRA staff has negotiated a development agreement with the Developer for the sale and conveyance of the Property (“Development Agreement”) to the Develo...
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