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File #: RES 22-951    Version: 1
Type: Resolution Status: Archived
In control: Housing & Redevelopment Authority
Final action: 6/22/2022
Title: Authorization to Extend the Designation of MWF Properties, LLC, as Tentative Developer of 1180 and 1186 Prosperity Avenue, Saint Paul, MN, District 2, Ward 6
Sponsors: Nelsie Yang
Attachments: 1. Board Report, 2. Map, 3. D2 Greater East Side Neighborhood Profile.pdf
Title
Authorization to Extend the Designation of MWF Properties, LLC, as Tentative Developer of 1180 and 1186 Prosperity Avenue, Saint Paul, MN, District 2, Ward 6
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, HRA owns land located at 1180 and 1186 Prosperity Avenue (the “Property”); and

WHEREAS, on January 9, 2020, HRA staff received two proposals to purchase the Property; and

WHEREAS, after reviewing the two proposals, HRA staff recommends accepting the proposal of MWF Properties, LLC to construct a multi-family development on the Property (the “Project”); and

WHEREAS, of the two proposals received, the Project proposed by MWF Properties, LLC best accomplishes the objectives and goals of the HRA Land Disposition Policy and best complies with the strategies set forth in the Citywide Comprehensive Plan/Redevelopment Plan now legally in effect in the City of Saint Paul, including particularly those related to preserving and promoting established neighborhoods, ensuring the availability of affordable housing and increasing commercial space and jobs; and

WHEREAS, the HRA on June 10, 2020, by Resolution #20-839 approved the tentative developer status for MWF Properties, LLC for the Property; and

WHEREAS, To assist in the financing of their proposal, MWF Properties, LLC applied to Minnesota Housing for the State’s Housing Infrastructure Bonds (HIB), First Mortgage and Bridge loans. Minnesota Housing’s approval process took a lot longer than PED Staff anticipated and MWF’s tentative developer status expired during this review on July 1, 2021. The HRA Resolution allows the Executive Director to extend the tentative developer status for an additional six months. On July 9, 2021, HRA Executive Director Goodman extend the tentative developer status until Dec...

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