Title
Resolution approving and authorizing the execution of a purchase agreement with Spruce Tree Centre L.L.P. for the sale and conveyance of the Spruce Tree Parking Ramp and authorization to enter into a Parking Space License Agreement, District 13, Ward 4
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 and Spruce Tree Centre L.L.P. (“Operator”) executed a Second Amendment to Parking Operation and Management Agreement effective January 1, 2015 (“Second Amendment”) relating to the parking management and operation of the HRA owned Spruce Tree Centre Parking Ramp located at 1607 Spruce Tree Avenue, Saint Paul, Minnesota (“Parking Ramp”); and
WHEREAS, Article 7 of the Second Amendment granted the Operator the right to purchase the Parking Ramp on certain terms and conditions (“Purchase Option”); and
WHEREAS, by letter dated July 3, 2018 addressed to the HRA Chair and PED’s Director, the Operator gave notice that it was exercising its Purchase Option and provided a pu...
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