Title
Resolution authorizing and approving the conveyance of 621 University Avenue located at the northwest corner of University Avenue and Dale Street for the North West University Dale Project; District 7, 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 NDC Entrepreneur Training Center, a Minnesota nonprofit corporation (or its assigns, the “Developer”), under which, among other things, the HRA will convey the property located in the City legally described as:
Current Parcel ID Current Address Current Legal Description
35.29.23.14.0229 621 University Avenue Lot 30, Block 1; Syndicate #1 Addition
(the “Property”) to the Developer for $125,000 to construct a mixed-use building with approximately 20,000 square feet of commercial space and a 40-unit multifamily rental housing development; and
WHEREAS, HRA has on this date conducted a duly noticed public hearing regarding the sale of the Property to Developer, in accordance with the Act, at which all interested persons were given an opportunity to be heard.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “Board”), as follows:
1. The Board hereby finds and determines that conveyance of the Property to the Developer is a...
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