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85-385 i WHITE - CITV CLERK PINK - FINANCE ITY OF SAINT PAUL Council yr�. CANARV - DEPARTMENT � a� � BLUE - F.fAVOR File NO• �r 1 - -' ounc ' e�olution . Presented By Referr Committee: Date Out of Committee By Date R SOLUTION RECITING A PROPOSAL FOR A FIN CING PROGRAM FOR A NNLTI-FAMILY RENT�AL HO SING DEVELOPMENT, GIVING PRELIMINARY AP ROVAL TO THE PROJECT AND THE PROGRAM URSLJ T TO MINNESOTA STATUTES, CHAPTER 462C, AUTH RIZING THE HOUSING AND REDEVELOPMENT AUT ORITY TO ISSUE HOUSING REVENUE BONDS AND AUTHORIZING THE SUBMISSION OF FI ANCING PROGRAM FOR APPROVAL TO THE M NNESOTA HOUSING FINANCE AGENCY AND AU ORIZING THE PREPARATION OF NECESSARY CUMENTS AND MATERIALS IN CONNECTION WITH THE SAID PROJECT AND PROGRAM (YWCA EMERGING WOMEN' S HOUSING) WHE AS, (a) Minnesota Statutes, Chapter 462C (th "Act) confers upon cities, or housing and redevelopment authorities or port aut rities authorized by ordinance to exe ciee on behalf of a city the powers con erred by the Act, the power to issue rev nue bonds to finance a program for the pur oses of planning, administering, making or urchasing loans with respect to one or mor multi-family housing developanents withi the boundaries of the city; COUNCILMEN Requested by Department of: Yeas Nays .�� Fletcher °reN' In Favor Masanz Nlcosla Scheibel __ Against BY Tedesco Wilson Form A a ved by City Attorney Adopted by Council: Da e Certified Yassed by Council S cretary By �' By Approved by lVlavor: Date _ Approved by Mayor for Submission to Council By BY � �. � . �-- �'�5�_3 . . ' � b) The Housing and Redevelopment Autho ity of the City of Saint Paul, Minne ota (the "HRA" ) has been designated, by ordin nce, to exercise, on behalf of the City of St Paul, Minnesota (the "City" ) the power conferred by Minnesota Statutes, Secti n 462C.O1 to 462C.08; c) The City has received from the First Bank System Community Development Corpo ation (the "Developer" ) a proposal that the C ty undertake a program to finance a Proje t hereinafter described, through the issua ce of revenue bonds or obligations (whic may be in the form of a single instr ent) (the "Bonds") pursuant to the Ac t; (d) The City desires to: facilitate the d velopment of rental housing within the commu ity; encourage the development of affor able housing opportunities for resi ents of the City; encourage the devel pment of housing facilities designed for ccupancy by persons of low or moderate , inco e; and encourage the develop�nent of blig ted or underutilized land and structures with' n the boundaries of the City; and the Proj ct will assist the City in achieving thes objectives. (e) The Project to be financed by the Bond is the acquisition, construction and equi ping of a multi-family rental housing deve ogment of approximately 19 rental units loca ed at 91-93-95 Lexington Avenue and cons'sts of the acquisition of an existing buil ing and the renovation thereof which will result in the provision of additional rent 1 housing opportunities to persons with n the community. The Project will be oper ted by the Young Women' s Christian Asso iation of St. Paul. . . . . � �'1� "�,=�6's f) The City has been advised by repre entatives of the Developer that con- venti nal, commercial financing to pay the capit 1 costs of the Project is available only n a limited basis and at such high costs of borrowing that the economic feasi ility of operating the project would be signi icantly reduced, but the Developer has also dvised the City that with the aid of munic'pal financing, and resulting low borr ing costs, the Project is economically more easible; �(g) A public hearing on the Project and the f'nancing program therefor was held on Marc 19, 1985, after notice was published, all s required by Minnesota Statutes, Sect'on 462C.05, subd. 5, at which public hear' g all those appearing at said hearing who esired to speak were heard; (h) No public official of the City has eith r a direct or indirect financial inte est in the Project nor will any public offi ial either directly or indirectly bene it financially from the Project; (i) The Developer has submitted to the HRA form of Memorandum of Understanding exec ted by the Developer, expressing certain unde standings by and between the HRA and the Deve oper pertaining to the Project, and the fina cing therefor. NOW HEREFORE, BE IT RESOLVED by the City Cou cil of the City of Sa nt Paul, Minnesota, as follows: 1. e City hereby gives preliminary approv to the proposal of th Developer that the City undertake the P oject, describ abov , and the program of financing therefor, pursuan to Mi nesota Statutes, Chapter 462C, consisti of the acquisi ion, r habilitation and equipping of multi-fam'ly rental using facilities within the City pursuant to e Develop r' s s cifications and to a revenue agreement etween the HRA nd th Developer on such terms and conditions ith provisi ns fo revision from time to time as necessary, so as to prod ce inc e and revenues sufficient to pay, when due, the . __ ��`._ .J t�-j . principal and i terest on the Bonds in a total principal amount of approx matel $700,000 to be issued pursuant to the A t to finance t e acq isition, rehabilitation and equipping of the Project; nd sa d agreement may also provide for the ent' re interest f the Developer therein to be mortgaged to the purchaser of th Bonds, or a trustee for the holder(s) o the Bonds; an the ity, acting by and through the HRA, here y undertake prel minarily to issue its bonds or obligatio s in accordanc with such terms and conditions; 2. e financing may be structured so as to t ke advantage of wh tever credit enhancement is available an is permitted by la to enhance the security for, or marketa ility of, the B nds; rovided that any such financing structu must be approv d by he HRA. 3. O the basis of information available to t e City it appear , and the City hereby finds, that the Project onsti- tutes a lti-f ily housing development within the mea 'ng of subdivisi n 5 o Section 462C .02 of the Act; that the Pr ject will be imari y occupied by persons of low or moderat income; t e ava lability of the financing under the Act nd th e willingne s of he City to furnish such financing will e a substanti 1 ind cement to the Developer to undertake th Project, nd th t the effect of the Project, if underta en, will be t enco rage the provision of additional multi-f mily rental h sing pportunities to residents of the City, assist i the r develop�nent of blighted and marginal la and to promo e more intensive development and use of land w'thin the City; 4• e Project, and the program to finance t e Project the ' ssuance of revenue bonds, is hereby giv n prelimin ry app oval by the City subject to the approva of the financin progr m by the Minnesota Housing Finance Agen ( "MHFA" ) nd su ject to final approval by the HRA, the Develope and t e purchasers of the Bonds as to ultimat details f the inancing of the project; 5. P rsuant to Chapter 72, Saint Paul, Minnes ta, Aministr tive C de, the City hereby authorizes and dire ts The Housing d Red velogment Authority of the City of Sain Paul, Minnesot (the 'HRA" ) to issue the housing revenue bond to finance e Pro 'ect and to take all actions necessary o desirabl in c nection therewith, and no further appro al or authoriz ion o the City shall be required; � . � ,�"�.5 -.��'� . � 6. I accordance with subdivision 5 of Secti n 462C.05, innes ta Statutes, the Executive Director of e HRA is hereb auth ized and directed to submit the program for financin the p oject to NIEiFA, requesting its approval, and other of icers, and employees and agents of the City an HRA are here auth rized to provide NII3FA with preliminary informat'on as 't may require; 7 . e Developer has agreed and it is hereby determin that any and all costs incurred by the City r HRA in conne ion w'th the financing of the Project whether r not the proj ct is arried to completion and whether or not approved y MHF will be paid by the Developer; 8. B iggs and Morgan, Professional Associati , acting as bond ounsel, and such investment bankers as y be selected y the Developer with the consent of the HRA, re authorize to a sist in the preparation and review of ne essary docuznent relat'ng to the Project and the financing pro ram therefor, to co sult with the City Attorney, Developer d purchase of th Bonds (or trustee for the purchasers o the Bonds) as to th maturities, interest rates and other te s and provisio s of t e Bonds and as to the covenants and oth r provision of t e necessary docimnents and submit such d uments to the H for inal approval; 9. N thing in this Resolution or the doc�nents prepared ursua t hereto shall authorize the expenditur of any municipal funds on the Project other than the revenues d rived from the rojec or otherwise granted to the City or H for this purp se. e Bonds shall not consitute a charge, 1' en or encumbra e, le al or equitable, upon any property or f ds of the City r HRA except the revenue and proceeds pledged o the payment t ereof nor shall the City or HRA be subject t any liability there n. 'PYie holder of the Bonds shall never ave the right to co pel any exercise of the taxing power of he City or H to ay the outstanding principal on the Bond or the inter st th reon, or to enforce payment thereon agai st any property f the City or HRA. The Bonds shall recite in substance that onds, including the interest thereon, a payable s lely rom the revenue and proceeds pledged to he payment t ereof The Bonds shall not constitute a debt f the City or H wit in the meaning of any constitutional or statutory li.mit tion. 0. I anticipation of the approval by MHFA a the issuance f the Bonds to finance all or a portion of the Project, nd in order that completion of the project wil not WMITE - CITV CLERK � PINK - FINANCE I TY O�F SA I NT PA�U L Council �i //ff CANARV - DEPARTMENT .� l I/L� OLUE - MAVOR File NO. ✓ d� , - �� o c ' �esolution � Presented By Referre Committee: Date Out of Committee By Date be undul dela d when approved, the Developer is hereb authoriz to m ke such expenditures and advances towar payment f that portion of the costs of the Project to e financed from t e proceeds of the Bonds, as the Develop r consider neces ary, including the use of interim, shor term financin , subj et to reimbursement from the proceeds o the Bonds if ny wh n delivered but otherwise without liabi ity on the part f the City or HRA. 1 . e Memorandum of Understanding provides at the HRA under tands and agrees that the Developer may form a partners 'p or ther entity, which new entity will be t owner of the De elogm nt. Z'he City Council hereby agrees that the Develope may a sign and transfer all its rights, duties and obligatio s her under and under the Memorandum of Unders anding to such n w ent ty, and that the HRA shall agree to such assignmen or t ansfer. Adopt d by the City Council of the City of Sai t Paul, Min esota this 19th day of March, 1985. COUNC[LMEN Reque by partment of: Y ea s ��a �,_�s, „ /1 S��d�� /��.. Drew aG� [n Favor Masanz Nicosia scnetbe� � __ Against By 'v -- Tedesco Wilson aR � 9 �sa5 � Form Approved by City Attorney Adopted by Council: Date Certified a - Council r BY ' B5' -- t#pp by Ylavor: AR 1985 Approved by Mayor for Submission to Co ncil By By p�g� � AR � � 19$5 P.E.D. Ep RTFIENT a�13�j Gloria Bostrom �ON ACT 7494 Ext. 258 HO E �� , 3 1 DAT �� ' (Routing and E�lanation Sh t) Assi Number for Rou in Or r Cli All Locations for oral Si ature : Depar�tmemt Di re tor' . . 3 City Attorney �' Di rector of Man gement Ma�yor Finance �nd Man gement Services Director 5 City Clerk Budget Direct _ _l ��n Johnson ` - �_ ouncilm n Wils n �)hat Will be A hieve b Tak n Action on the Attached Materials? Pu se Rationale : Preliminary bond resolu ion for YWCA's Women Emerging Program at 91 No th Lexington Avenue. Financial B ta and Pe onnel I acts Antici ted: Bond fees will be collec ed of .5% at closing and .125% annually Fundin Source and F nd Act vit Number Cha d or Credited: Project Code No. � Attachments List an Numbe all Attachments : 1 . Resolution � 2. HRA Board Re rt DEPARTMENT REVIEW CITY ATTORNEY REVIEf�II X Yes No Co ncil solution t�quired? Resolution Required? Yes No Yes X No In urance Required? Insurance Sufficient? Yes No Yes X No In urance Attached? Revision of October, 198 (SPP RAVPI"CP SidP for �In tructions) HOW TO USE THE GREEN SHEET The GREEN SHEET has several purposes: � l. To assist in routfnq documents and in securinq require s gnatures 2. To brief the reviewers of documents on the impacts of approval 3. To help ensure that necessary suDportina materials are prepared and, if required, attached. ROUTING � �ost GREEN SHEET actions must �e rev_e�aed 5y a Je�ar_�eat �irec�or, �:�e City �t�arzey, t!ae �i�ecLOr o= t�tanaqexent, the Director of Finance and Manaqement Services. Other possible reviewers/siqnatures are listed. BRIEFING • M�ost of the GREEN SHEET headings are desiqned to assist in developinq a precis of the decision which the attachments represent. The headinqs are offered to remind users of some of the more critical elements of this brief. , The Financial Bud etar and Personnel Imaacts headinq provfdes a space to explain the cost benefit aspects of the decision. Costs and benefits relate both to City budget (General Fund and/or Special Funds) and to broader financial itapacts (cost to users, � homeowners or other qroups affected by the action) . The personnel impact is a description of chanqe or shift of Full-Time Equivalent (FTE) positions. SJPPORTING MATERIALS . In the Attachments section, list all attachments. If the GREEN SHEET is well one, no letter of transmittal need be included (unless signinq such a letter is one of the requested actions) . Note: Actions which require City Couneil resolutions include: a. Contractual relationship with another qovernment unit. b. Collective bargaininq. c. Purchase or sale of land, or lease of land. d. Issuance of bonds by City. e. Eminent domain. - f. Assumption of liability by City, or qrantinq by City of indemnification. g. Agreerreents with State or Federal Government under which they are providinq fundinq. Note also: If an agreement requires evidence of insurance/co- insurance, a Certificate of Insurance should be one t � ' . � :� �'s��' :De CITY OF SAINT PAUL INTERDEPARTMENTAL MEMORANDUM DATE: FEB ARY 28, 1985 T0: ALB T OLSO , CITY CLERK FROM; SHE I PEMBE TON, DEPT. OF PED� �� SUBJECT: CIT COUNCI PUBLIC HEARING FOR MARCH 19, 1985 Attached is a copy o the Public Haring Notice, which was published n the St. Paul egal L dger and the St. Paul Pioneer Press and Dispatc on Saturday, arch 2, 1985. Please place his Pu lic Hearing on the City Council Agenda for Tues ay, March 19, 198 . A C ty Council Resolution will be forwarded to you y the City Atto ney's ffice, prior to the City Council Meeting. Thank you SAP:rmf Attachment cc: Becky Ha tman, loria Bostrom << '. � � -��'�� NOTICE OF PUBLIC HEARING ON A ROPOSAL FOR A PROGRAM TO FINANCE A MUL I-FAMILY RENTAL HOUSING DEVELOPMENT (91- 3-95 NORTH LEXINGTON AVENUE PROJECT) To Whom I.t May Conce . Notice is hereby given that the City Council of the City of Sai t Paul, Minnesota wil meet i the City Council Chambers at the City Hall in the City of Saint Paul, Minnes ta at 10:00 o'clock a.m. , on March 19, 1985 to con- sider the pro osal of First Bank System Community Development Corpor tion Partnership, Minnes ta Partnership (The "Developer") , that the Cit under- take a progr to fi ance the development. hereinafter described, pur uant to the City's ho sing p an under Minnesota Statutes, Chapter 462C, by t e issuance of r venue bligations. THE DEVELOPMENT The Develo ment consists o£ the acquisition, rehabilitatio and equipp ng of a multi-family rental housing development of pproxi ately 19 rental units located at 91-93-95 ilort Lex ngton venue in Saint Paul, Minnesota and designed fo � occ pancy rimarily by low and moderate income families. As equire by Federal law, not less than 20% of the unit in he Dev lopment will be occupied by persons of low inc me, a c tegory presently defined under Federal 1aw to mean pe sons or amilie whose income is 80% or less of the median inc me for the Sa nt Paul area as determined by the United State Dep rtment of Housing and Urban Development. Total appro i- mat devel pment costs to be financed will be approximate y $70 ,000. The Development will be owned by the Developer or Partn rship or other entity to be fo.rmed in which th Develo er or its Principal (First Bank System Communi y De lopmen Corporation) will be General Partners. The De elopmen will be operated by the Young Women's Christi n As ociatio (YWCA) . The est ated p incipal amount of Bonds or other obligations t be issued to fi ance t Development will not exceed $700,000. Said Bo ds or ther obligations, as and when issued, will not onstitute a charge, 1i n or e cumbrance upon any property of the City of Sain Paul, or its Housi g. and edevelopment Authority except the Development d the revenues to e deri ed from the Development. Such Bonds or obligat'ons will not be a cha ge aga nst the City's general credit or taxing powers ut are payable from sums t be paid by the owner of the Development pursu t to revenue agre ments. Further inform tion concerning the Development, and the finan ing programs therefor, ma be ob ained from the Housing Division, Department of lanning and Economic Develo ment, City Hall Annex - 12th Floor, 25 West Fo rth Street, Saint Paul, inneso a 55102 (telephone 292-1577) . -1- � , . � "�� At the t' e and lace fixed for the public hearing, the City Co ncil of the City o Saint aul, Minnesota will give all persons who appea at the hearing oppor ity to express their views with respect to th proposal. Wr'tten c ents submitted in advance will be considered. Dated th s 28th day of February , 1985. (BY ORDER OF THE CITY COUNCIL 0 THE CITY OF SAINT PAUL, MINNESO A) By s/ Albert Olson CITY CLERK -2- � ` �� --��a '—�` CITY F SAINT PAUL �`�TT '' �DEPARTMENT OF PLANNING AND ECONOMI DEVELOPMENT R+ '. ; � a DIVISIO OF DEVELOPMENT + 1 1��n + 25 West fourth Street, int Paul,Minnesota 55102 �• nl 11 t AQ 612-292-1577 ,.•. GEORGE UTIMER MAYOR St. Paul Dis atch d Pioneer Press February 28, 1985 345 Cedar St. St. Paul, MN 55101 Attention: osema Frank RE: LEGAL NOTICE NOTICE OF PUBLIC HEAR G ON A PROPOSAL FOR A PROGRAM TO FINANCE A MULTI-FAMILY RENTAL HOUSING DEVELOPMENT (91-93-95 No. Lexingto Avenue) Gentlemen: Attached is a Noti e of Public Hearing on a Proposal for a Progr to Fi- nance a Mul i-Fami y Housing Development (91-93-95 North Lexingto Avenue Project) . ` Please publ sh thi Notice in the .St. Paul Pioneer Press and Disp tch for Saturday, M rch 2, 1985. If you have any qu stions, please do not hesitate to contact me a 292-1577, extension 2 1. Sincerely, �� Sheryl A. P mberto Real Estate Admini trator SAP:rmf Attachment bcc: Chro , Pape Legal Bond F�ile, Gloria Bostrom � � ��i__t��t�_�J , � fu .- _ -r �:3�-- _ --- .a.yi '�I _€'' ,.-: g,�� -_�, . U<� :�� ,. �� i.. '� �� . r�-�dS,�T,��h I '�� *�� `' � : f ��z ��`�n� ��_�~_"�kc - 1� ;� �e�i # . ��! �'i�� _�� . ,.. . .. ,,. ' - • ? , To It � ,. K : � .�r. � ��;,�:�:;�i :�_� ... . ; is 1�'�iv��qa� the City Goancil of tl�a City oi � Pau�,: M ota w�i° �its t�e�y�C��itiiC.�tlbikl'�tL'�#t�s�tirf;�'�E'� Paui, ' e3oM"at��t�0�e�`rl�dc a.m.. an�tarc�t�1$. 298�#o�t�°! `'al' a# � irst B�n�u a'�'�' YsEem c:omm��': �et4#11pa�$..;��R�, 'Part _" hip. : �.Minnesota Partn�iship ('�?�,.,••L�ev�r•,).- t�At�.'Ehe:�:. #ulde �1ce ap �to finaace the developatee�lf�ee �r= to CitY,s ing pcla�i,i�i�"I�{�Sesota $i�t�tt�'�#��'�' , issua ce of rev nuc�t►bti�s�i4l�: _ � '- �'- � � . _ _,. 4,� :��-. _ ' ,�,�►�i� :�'�. , e Devel consisis of the ;aq�t�isl��k�*.��_ .. �t�xaj �f .,a .��iti�i�j-�rental hous�n� deaelo�'�F -�°; - a pmxima 1y !9 rental-�its �cated �t 91-93-95 I�rt� I.e�oy, • � �ue in� . �nf�Paul,iM'It�qta at�d�io�o�� ". , � 'low and inod�raf;e it�`�nilies:As requir�d bjr�'ederal �►.not • � s that�� o��e aini�s�in t�Developmeat wi1�9��bi�tipie�� . o low ' . �,cat,�orY presentlq detined�nder F law_�o �- rsons or �ies wlic�e iaa�t�e is 80��ti'.1��eg��i�.��. Sai�it ul� a��'i'as d�tt�ml�d�ota�a ��1�tes��t a� ,� -�.t b'�` " '+1�ffi��fi+�adnn�'teelv l�f0;8A�� e�be a ed by t :�ioper or a Partners� t�'� � " �ei ` ♦{�� v� �ipal�i�tt"�� - ';.g �-.. ' !t�MiR.. s�''`�7 �� J CF4T�.if z � 10 CBCpiYI'Yt��"�'b�.��. X HN'��i�,,?:zt�" t?5 ��' !'r� ' . . ., , . . _ .... , ,, ��'�+�j�n�� . ..! ,P -5_ , r..i.a, �:• `�� -��"Q��QI!!I�S.OI'#��1"��f�lJ� fina the D� lopo�a�t��l�t e�ect��! 0 '_ >` ��.�1'' ��. �� ;3 �'� �'�tioa�s, as � :v, � �isfA�i,,�►��r.�� H r�arr � �y prcr�e�ty of the Cily of Sai�t Faul.or its g at►d l�p�it�'AfiftiriY�ity��`;�h��bevelo�imeest and tl�e _rev t�be ��ibm�h�'�ielopme�'�e�8�nd��r ��wiTi,mrt ts�e� har�e �Cltt�'S;'�e�e}�rkcre�i�,��,�� . ±��il�•► �'i�i� su�s fq '�it'�Yb;�y Hsg.d�r^oi the Devqelop�ti pursuaisE t� revenue �ag erits. � : ' , . � , ' _ i;:;.,_:.rther in o�aation concerning �the D��:,j�rd=:=t�� Fz' _ fthe r,maY be obtained from tl�Hansi��i�t;=l�e��t��'�t �? :iu�d Development, City Hall An�x = 12th Fioor, 28 W�st Fou Strreet, .Pau1�-�iiqe�:65102�(te�epboau 29�-18't7). the t�me place°i�c�l3'Ior t!��blie '�"i m of= ��'-' u� #�ta�btal ' �►e all ��ppr.�' '�� °Ft� � �Pi�s-.��,�..-.-�4,��w respect to . Written c ents tted ia ad��1�-be considered. �� a�� ti� iey oi 1�`ebruarY. 1985. � � ' � fB'�"flR�A O�'Tf� CITY COt��TI�r4�Y' OF `��ltH�'T�F�l�L. .-, - ,�x �� BY�&�i��aGl��.30H� " .��.� 4 F .� �� „�„ 'r'�� . � ��d`arch 2, 1�) � .. , �. ,.� ; :r��#4 �.��z � �3---3��., ❑ I S P UTE E O LUTI O N s�� fond Avenue Saint Paul, innesota 55104 C E N T E R c612 489-4051 Page 1 of 3 Case No.� , " - � DI PUTE SETTLEME��T AGREEMENT In mediation s ssion eld on March 14, 1985 . YWCA, Lexingto -Hamli e Community Council , City of St. Paul , and resi ents of 91-93-95 N. Le ington Pkwy. . _ in considerati n of t eir mutual promises, agree to the following: A. For those esiden s who choose to relocate: 1. $500 m ving e pense payment to each family unit. $11 ,500 2. Cash p yment f $1 ,000 to each family unit. $2 ,000 3. All t ants w o are eligible will receive Section 8 cer i ica es ic wi permi em o o ain a er_ nativ housin at a reduced rate. Eligible tenants inc u ami es, e er y, an an icappe w o i incom criter a. No expense to YWCA 4. Tenan s will e permitted to deduct from their last mon ren e amoun o money eing e y curren owner as a d osit so that the tenants can use that amoun o mon y as a eposit on a new apar men . o expense o WCA . e ep one oo up expense. , . ease o up o ays a curren ren s. enan s ma t rminat leases on 30 da s notice. $ ,000 . • � /S' � ,l,l,,t,li ate � . -ff ' � � n ouncil �� a e ator a e ' �/�� ES 3/83 i ty o t. u � , a,P P.E�. � � �J i/-� ' �, — �� 3� esi en s o - - , . exi�, GF -.�� ❑ I SPUTE E OLUTION s�� fond Avenue Saint Paul, innesota 55104 C E NTE R cs12 489-4051 Page 2 of 3 Case No b 0 " � DI PUTE SETTLEME��T A6REEMENT In mediation ssion eld on March 14, 1985 . . YWCA Lexin to -Hamli e Communit Council Cit of St. Paul and res dents of 91-93-95 N. Le in ton Pkw . . in considerat on of eir mutual pranises, agree to the following: 7. Compe sation o residents of units 93/4 and 95/6 or s eci ic improvemen s. • , o a cos ,� os per uni , A paymen s i e ma e ays prior o e moving a e, tenants must otif he YWCA 45 da s rior to movin . B. For those reside ts who choose to sta in the building, 1 year 1 ases with rents inc eased o cover u operating costs o owing renova i n. Rents 'Wit Cit inancin Without Cit Financin ne e ro m per mont ne e room pe mon � Two bedro m $550 er month Two bedroom $675 e month . . . • 3 /S d�S ► ae . & ex i o - am amiun i ty Counc i 1�� a e r �6a�e- f ��'� ES 3/83 i yo . au � . o E��- � ; _ _. _. . , �. i Re i ents o - - N.,L inq on w . C� �3�� Page 3 of 3 � Residents Signatures Continued ,�� { � .��,��. a� � q�' /l. � Gi� « �'% ,��/ I 3.. N . � � �# 2 /�� / , -�r� �< <`��1� � . � , �Gi�L�,�� :5.. �� '/;� i�. �" ' 'Kl�"ic. :-� �* I _ �� /�i/p-/. 1- r' � ` �� S`/v o`�ix� �s 3 .ti �'" 'z�3 57��.�C_ � � S �/ �f�� ` , ✓ y:� �,� �� -�,., .�-,� � � ��wt� ._� �� 9' y� . 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