Title
Resolution Approving and Authorizing Sale and Lease of HRA Owned Property Located at 2286 Capp Road to L & R Enterprises, and Execution of a Purchase and Sale Agreement, District 12
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, L & R Enterprises, LLC (“Purchaser”) is proposing to purchase and lease certain land from the HRA with a combined street address of 2286 Capp Road, which land is being replatted, and the proposed new legal descriptions are Lot 2, Block 1, Capp Road Addition (“Sale Land”), and Lot 1, Block 1, Capp Road Addition (“Lease Land”), and construct a new building on the Sale Land (“Project”), and the Project is more fully described in the staff report submitted to the HRA Board with this resolution; and
WHEREAS, the Purchaser is requesting to enter into a purchase agreement (“Purchase Agreement”) with the HRA that will detail the terms of sale and lease of the Sale Land and Lease Land and the obligations ...
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