Title
Authorizing and approving the execution of a lease between the Housing and Redevelopment Authority (HRA) and the Minnesota Department of Employment and Economic Development (MN DEED) for parking at the Lowertown Ramp, District 17, 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”);
WHEREAS, the HRA owns a parking ramp located at 316 Jackson St., Saint Paul, Minnesota, commonly referred to as the “Lowertown Ramp”; and
WHEREAS, the MN DEED Tenant desires to enter into a Lease Agreement with the HRA to reserve up to 500 parking spaces at the Lowertown Ramp for its employees; and
WHEREAS, the Lease Agreement is or a 10-year term beginning November 1, 2021 and ending October 31, 2031; and
WHEREAS, the first year monthly payment will be $75.00 and will increase $5.00 per month, each year, for 10 years; and
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota as follows:
1. Approval is hereby granted for the HRA to enter into a Lease Agreement with MN DEED for up to 500 parking space at the Lowertown Ramp for a 10-year term beginning November 1, 2021 and ending October 31, 2031.
BE IT FURTHER RESOLVED, the Executive Director of the HRA and other appropriate HRA officials are authorized to execute the necessary documents in connection with the Lease, in form acceptable to the City Attorney, on behalf of the HRA, and the HRA Executive Director, HRA staff and attorney are hereby authorized and directed to take all actions needed to implement this Resolution.