Title
Resolution authorizing and approving the conveyance of seven parcels of land located at the northeast corner of Rice Street and West Sycamore Street; approval of a HRA land sale loan of $340,000 to assist in the purchase of the property; financing of $1,500,000 HOME loan; and authorization to enter into a development agreement for the Rice Street Flats project; District 6, Ward 1
Body
WHEREAS, pursuant to Minnesota Statues, Sections 469.001 to 469.047, as amended (the “Act”), the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”), is authorized to acquire and convey real property and to undertake certain activities to facilitate the redevelopment of real property by private enterprise; and
WHEREAS, to facilitate redevelopment of certain property in the City of Saint Paul, Minnesota (the “City”), the HRA proposes to enter into a Development Agreement (the “Agreement”) between the HRA and Rice Sycamore Housing, LLC, a Minnesota limited liability company or it assigned (the “Developer”), under which, among other things, the HRA will convey HRA owned property located in the City on the northeast corner of the intersection of Rice Street and West Sycamore Street and legally described as:
Current Parcel ID Current Address Current Legal Description
30-29-22-33-0080 129 W Sycamore The Easterly 60 feet of that parcel of land in the Southwest Quarter of the Southwest Quarter of Section 30 Township 29 Range 22, embraced
Street within the area bounded as follows: Commencing at the Northeast corner of Sycamore and Rice Streets in the City of Saint Paul; thence Easterly
along the North line of Sycamore Street 150 feet; thence Northerly parallel with Rice Street 42 feet and 8 inches; thence Westerly on a line parallel
with Sycamore Street 150 feet to Rice Street; thence Southerly along the East line of Rice Street 42 feet and 8 inches to Sycamore Street and place
of beginning
30-29-22-33-0063 804 Rice Street B...
Click here for full text