280276 WH17E - CITV CI.ERK
PINK - FINANCE COUIIC11 �� ` Y �
CANARY - DEPARTMENT G I TY OF SA I NT PAU L ����y f �
BLUE - MAYOR File NO. �-'-� ��I�-i � �
• �-� ouncil Resolution
Presented By A
Referred To ommittee: Date
Out of Committee By Date
RESOLUTION RECITING A PROPOSAL FOR A
FINANCING PROGRAM OR PROGRAMS FOR MULTI-FAMILY RENTAL
HOUSING DEVELOPMENTS, GIVING PRELIMINARY
APPROVAL TO THE PROJECT AND THE PROGRAM OR PROGRAMS
PURSUANT TO MINNESOTA STATUTES, CHAPTER 462C,
AUTHORIZING THE HOUSING AND REDEVELOPMENT
AUTHORITY TO ISSUE HOUSING REVENUE BONDS .
AND AUTHORIZING THE SUBMISSION OF
FINAIJCING PROGRAM FOR APPROVAL TO THE
MINNESOTA HOUSING FINANCE AGENCY AND
AUTHORIZING THE PREPARATION OF NECESSARY
DOCUMENTS AND MATERIALS IN CONNECTION
WITH THE SAID PROJECT AND PROGRAM OR PROGRAMS
WHEREAS,
(a) Minnesota Statutes, Chapter 462C
(the "Act) authorizes cities, or housing and
redevelopment authorities, port authorities
authorized by ordinance to exercise on behalf
of a city the powers conferred by the Act,
the power to issue revenue bonds to finance a
program for the purposes of planning,
administering, making or purchasing loans
with respect to one or more multi-family
housing developments within the boundaries of
the city;
COUNCILMEN
Yeas Nays Requested by Department of:
Fletcher
�sndtES Galles [n Favor
Masanz
Nicosia
scneibel _ __ Against BY
Tedesco
Wilson
Form Appr ved by City Attorney
Adopted by Council: Date ��
Certified Passed by Council Secretary BY --�� V,/�ll�./�f/i�c��
By,
Approved by 17avor: Date _ Approved by Mayor for Submission to Councii
By _ BY
. . � � ���"�.:`.'�� ►
(b) The Housing and Redevelopment
Authority of_ ttie City of Saint Paul,
Minnesota (the "HRA") has been designated, by
ordinance, to exercise, on behalf of the City
of St. Paul, Minnesota (the "City") the
powers conferred by Minnesota Statutes,
Section 462C.01 ta 4b2C.08; -
(c) The City has received �rom T & F,
Inc. , Virginia Crossing LTD Partnership, John -
Tittle, Capital Crane/Alexander & Associates,
Russell Jensen, Robert S. Peltier, Heritage
Development Inc. , Steve Madole d/b/a SHl�I
Restoration, John Cirney and Jahn Cook and
Sudheimer and Associates Limited Partnership
(collectively, the "Owners") a proposal that
the City undertake programs to finance each
of the Projects hereinafter descri'Aed,
through the issuance of a series of revenue
bonds for each Project, or a series for one
or more Projects (any series o£ which may be
in the form of a single debt instrument) (the
"Bonds" ) pursuant to the Act;
(d) The Projects are as follows:
(1 ) A Project consisting of the
acquisition of a 7-unit brick structure
located at 305 Dayton and currentl� owned by
T & F Inc. and its rehabilitation for use as
a multi-family rental housing development.
The approximate total develo�znent cost is
$520,000, and the estimated amqunt ot
financing is $455,000.
(2) A Project consisting of the
acquisition and constructa.on of a 6-unit
wood-frame structure located at 1250-1260
Virginia Street on a site currentZy owned by
Virginia Crossing Limited Partnership for use
as a multi-family rental housing development.
The approximate total development cost is
$460,000 and the estimated amount of
financing is $420,000.
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(3) A Project consisting of tne
acquisition of a duplex structure located at
99 Victoria and currently owned by John
Tittle and its rehabilitation for use as a
two-family rental housing develapment. The
approximate total development cc�st is
$105,000, and the estimated amount of
financing is $85,000.
(4) A Project consisting of the "
construction of a wood-frame double bungalow
located at 147-151 North Milton, St. Paul,
Minnesota currently owned by Capital
Crane/Alexander & Associates for use as a
two-family rental housing development. Total
development cost is approximately $140,000
and the estimated amount of financing are
$125,000.
(5) A Project consisting of the
acquisition of a duplex structure located at
1114 Selby Avenue and currently owned by John
Tittle and its rehabilitation for use as a
two-family rental housing development. The
approximate total development cost is $95,000
and the estimated amount o£ financing is
$80,000.
(6) A Project consisting of the
acquisition of a wood-frame duplex located at
319 Ramsey Street and owned 'Ay Russell Jensen
and its rehabilitation for use as a
two-family rental housing development. The
approximate total development cost is
$200,000 and the estimated amount of
financing is $150,000.
(7) A Project consisting of the
acquisition of an existing structure located
at 820 Capital Heights and owned currently by
Robert S. Peltier and its rehabilitation for
use as a single-family rental housing develop- -
ment. The approximate total development cost
is approximately $100,000 and the estimated
amount of financing is $80,000.
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(8) A Project consisting of the
acquisition of a 3-unit wood-frame structure
located at 500 Holly Avenue and currently
owned by Heritage Development Inc. and its
rehabilitation for use _�s a three-family
rental housing development. The approximate
total development cost is $590,�00, and the
estimated amount of financing is $575,000.
(9) A Project consisting of the
acquisition of a wood-frame duplex located at
843-845 Selby and currently owned by Steve
Madole d/b/a SHM Restoration and
rehabilitation for use as a two-family rental
housing development. The approximate total
development cost is $155,000, and the
estimated amount of financing is $145,000.
(10) Two Projects consisting o£ the �
acquisition of two separate 26-unit brick
structures, one located at 136 Western
Avenue, and the other located at 369 Western
for use as multi-family housing developments.
Both are currently owned by Sudheimer & Asso-
ciates Limited Partnership. The approximate
total development cost is $1,850,000, and the
estimated amount of financing is $1,500,000.
- - - (11 ) A Project consisting of the
acquis�tion of a wood-frame duplex located at
77-79 West Cook and currently owned by John
Cirney and John Cook and its rehabilitation
for use as a two-family rental housing
development. The approximate total
development cost of rehabilition is $140,000
and the estimated cost of financing is
$130,000.
(e) The City desires to: facilitate
the development of rental housing within the
community; encourage the development of
affordable housing opportunities for
residents of the City; encourage the
development of housing fac.ilities designed
for occupancy by persons of low and moderate
income; and prevent the emergence of blighted
or underutilized land and structures within
the boundaries of the City; and the Projects
will assist the City in achieving these
objectives.
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(f) The Owners are currently engaged in
the business of real estate management or
development. The Projects to be financed by
the Bonds are the acquisition and
construction, or rehabilitation, and
equipping of multi-f_amily rental housing and _
consists of either the acquisition and
construction of a new .facility, or the
acquisition o£ an existi.ng rental Yiousin� _
facility and the rehabilitation thereof and
the installation of equipment therein, that
will result in the provision of additional
rental housing opportunities to persons and
families within the community;
(g) Each of the Owners will be selling,
transferring and conveying its interest in
the Project(s) currently owned by it to a
successor person, partnership or other
entity, which successor person, partnership
or other entity will be obligated to repay
the sums loaned pursuant to the related
£inancing program; the present Owners and
such successor persons, partnerships or other
entities are collectively referred to herein
as the "Owners°;
(h) The City has been advised by �
representatives of the Owners that con-
ventional, commercial financing to pay the
capital costs of the Projects is available
only on a limited basis and at such high
costs of borrowing that the economic
feasibility of operating the Projects would
be significantly reduced, but the Owners have
also advised the City that with the aid of
municipal financing, and resulting low
borrowing costs, the Projects are
economically more feasible;
(i) A public hear�ing on the Projects
and the financing program therefor was held
on May 10, 1983, after notice was published,
all as required by A'iinnesota Statutes,
Section 462C.05, subd. 5, at which public
hearing all those appearing at said hearing
who desired to speak were heard;
r-c^.� 1. -i•.. 9 _,
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(j) No public official of the City has ��'�' � '�'' � a
either a direct or indirect financial
interest in any of the Projects nor will any
public official either directly or indirectly
benefit £inancially frpm the Projects;
(k) Guaranty State Bank of St. Paul
(the "Lender") proposes to purchase one or
more of the series of Bonds. The Lender has
submi�cted to the HRA the forms of two �
Memorandums of Understanding executed by the
Lender, and, with respect to one such Memoran-
dum of Understanding, by Sudheimer & Asso-
ciates Limited Partnership ( "Sudheimer") ,
expressing certain understandinqs by and
between the HRA and the Lender (and
Sudheimer) pertaining to the Projects, and
the financing therefor.
(1) The Lender and the HRA have entered
into one Memorandum of Understanding, and the
Lender, Sudheimer and the HRA have entered
into a second Memorandum o£ Understanding,
expressing certain agreements pertaining to
the Projects and tre financing therefor.
NOW THEREFORE, BE IT RESOLVED by the City Council of
the City of Sair�t Paul, Minnesota, as follows: .
1. The City hereby gives preliminary approval to the
proposal of the Owners and the Lender that the HRA, acting on
behalf of City undertake the Projects, and the programs of
financing therefor, pursuant to Minnesota Statutes, Chapter
462C, consisting of the acquisition and construction a new
rental housing facility, or the acquisition and rehabilitation
of multi-family rental housing facilities within the City
pursuant to the Owner' s specifications and to a revenue
agreement between the HRA and each Owner on sucn terms and
conditions with proviilions for revision from time to time as
necessary, so as to produce income and revenues sufficient �o
pay, when due, the principal and interest on the Bonds in the
total principal amount of approximately $3,745,000 to be issued
pursuant to the Act to finance the acquisition, renovation and
rehabilitation of the Projects; and said agreement may also
provide for the entire interest of the Owners therein to be
mortgaged to the purchasers of the Bonds, or a trustee for the
purchasers of the Bonds; and the �ity hereby undertakes
preliminarily to issue its bonds in accordance with sucn terms
and conditions;
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2. On the basis of inform�tion available to the City
it appears, and the City hereby finds, that each Project consti-
tutes a multi-family housing development within the meaning of
subdivision 5 of Section 462C.02 of_ the Act; tha� some of the
Projects are located within a redevelopment project area
established pursuant to Ma.nnesota Statutes, Chapter 462; the _
availability of the financing under the Act and the willingness
of the City to furnish such financing will be a substantial
inducement to the Owners to undertake the construction or
rehabilitation of the rela�ed Project, and that the effect of
the Projects, if undertaken, will be to encourage the provision
of additional multi-family rental housing opportunities to
residents of the City, to assist in the prevention of the
emergence of blighted and marginal land and to promote more
intensive development and� use of land within the City;
3. The Projects and the programs to finance the
Projects by the issuance of revenue bonds, is hereby given
preliminary approval by the City subjec� to the approval of
each financing program hy the Minnesota Housing Finance Agency
( "MHFA") and subject to final approval by the HRA, the Owners,
and the uurchasers of the Bonds as to ultimate details of the
financing of each Project;
4. The City hereby authorizes and directs The
Housing and Redevelopment Authority of the City of Saint Paul,
Minnesota (the "HRA") to issue the housing revenue bonds to
finance each Project and to take all actions necessary or •
desirable in connection therewi.th, and no further approval or
authorization of the City shall be required;
5. In accordance with subdivision 5 of Section
462C.05, Minnesota Statutes, the Executive Director of the HI2A
is hereby authorized and direc�ed to submit the programs £ar
financing the project to MH�'A, requesting its approval, and
other officers, and employees and agents of the City and HRA
are hereby authorized to provide MHFA with preliminary
information as it may require;
6. The Lender has agreed and it is hereby determined
that any and all costs incurred by the City or HRA in
connection with the financing of the Projects whether or not
the Projects are carried to completion and whether or not
approved by MHFA will be paid by the Lender or Owners;
7. Briggs and Morgan, Professional Association,
acting as bond counsel, and such investment bankers or
financial advisors or others as may be selected by the HRA with
t7ie prior agreement of the Lender, are authorized to assist in
, � . � �������
the preparata.on and review of necessary documents relating to
the Projects and the financing programs t'nerefor, to consult
with the City Attorney, Owners and purchasers of the Bonds (or
trustee for the purc'nasers o£ the Bonds) as to the maturities,
interest rates and other terms and provisions of tlze Bonds and
as to the covenants and other provisions of the necessary
documents and submit such documents to the HR.A for final �
approval;
8. Nothing in this Resolution or the documents
prepared pursuant hereto shall authorize the expenditure of any
municipal funds on the Projects other than the revenues derived
from the Projects or otherwise granted to the City or HRA for
this purpose. The Bonds shall not consitute a charge, lien or
encumbrance, legal or equitable, upon any property or funds of
the City or HRA except the revenue and proceeds pledged to the
payment thereof, nor shall the City or HRA be subject to any
liability thereon. The holder of the Bonds sha11 never have
the right to compel any exercise of the taxing power o£ the
City or HRA to pay the outstanding principal on the Bonds or
the interest thereon, or to enforce payment thereon against any
property o£ the City or HRA. The Bonds shall recite in
substance that Bonds, including the interest thereon, are
payable solely from the revenue and proceeds pledged to the
payment thereof. The Bonds shall not constitute a debt of the
City or HRA within the meaning of any constitutional or
statutory limitation.
9. In anticipation o£ the approval by P�iiFA and the .
issuance of the Bonds to finance all or a portion o£ the
Projects, and in order that completion of t'ne Projects will not
be unduly delayed when approved, the Lender and Owners are
hereby authorized to make suc'n expenditures and advances tot,vard
payment of that portion of the costs of the Projects to be
financed from the pxoceeds of the Bonds, as the nwners consider
necessary, including the use of interimt short-term financing,
WMITE - GITV CLERK
PINK - FINANCE COIIflCII
BLUERV - MAVORTMENT GITY OF SAINT PAUL �*��I� a
� ' File N 0. ���;�_
. �
uncil Resolution
Presented By
Referred To �- Committee: Date
Out of Committee By Date
subject to reimbursement from the proceeds of the Bonds if any
when deli.vered but otherwise without liability on the part of
the City or HRA.
10. Subject to the approval of the City Attorney, the
forms of the Memorandurns of Understanding and Exhibits thereto
are hereby approved. Pursuant to the terms of the Memorandums
of Understanding, all the rights, duties and privileges of the
City under the Memorandums of Understanding are hereby
transferred and assigned to the HRA.
COU[VCILMEN Requested b Department of:
Yeas Nays �
Fletcher
�� Galles In Favor
Masanz
Nicosia
scheibe� _ __ Against BY
Tedesco
Wilson
�Y 1 O �9a� Form Approved by City Attorney
Adopted by Council: Date B � , /G�G'/j�i-G1�/�
�j/
Certified Pa s d o nc�l S Y
/�1ppr by ;Vlavor. _ Y i,i 1983 Approved b yor for Submis ' to Council
BY - . – — By `Z��
PUBLISHED MAY � 1 1983
PED-Nousi nq _ 'DEPAf�Tt,1ENT Fr��� ��
Gary Peltier �rONTACT
7494-259 PHONE v
5/2/83 DATE ���� �r �
� . (Routing and Explanation Sheet)
Assign Number for Routing Order (Clip Al1 Locations for M�yoral Signatu�;EIVED _;m...
� Department Di rector . MAY - 419$3
�ifitiy Attol"11�� _P3 pFF�c_ OF rHE DIRECT01� �
3 Di n Mayor � �E�J���rv'r OF FINANCq .
D Iv1A�� GE�ENT S� _
,..�--��e and Management Servi ces Di rector �:;,a�� - �08� --
5 City Clerk � •
Budget Di rector MAYORS OF�FI� `��--
� �J-�"
� �q,�f��`)
v-��
What Will be Achieved by Taking Action on the Attached Materials? (Purpose/Rationale):
Adoption of City Council preliminary resolution will give HRA the opportunity to
work with lender and owners for financing rental housing projects.
: Financial ,. Bud�tary and Personnel Impacts Antici�ated:
HRA expenses are paid by developer fees; there are no adverse budget or personnel
impacts anticipated.
Funding Source and Fund Activity Nurt�ber Charged or Credited:
HRA Tax Levy Fund, #36614
Attachments CList and Nurr�er all Attachments :
Preliminary Resolution
DEPARTMENT REVIEW CITY ATTORNEY REVIEW
X Yes No Council Resolution Required? Resolution Required? Yes No
Yes X No Insurance Required? Insurance Sufficient? Yes No
Yes X No Insurance Attached?
Revision of October, t982
(Spe RevPrsP Sidp for �Instructions)
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CITY OF SAINT PAUL
INTERDEPARTMENTAL MEMORANDUM
DATE: MAY 2, 1983
TO: AL OLSON, CITY CLERK
FROM: SHERI PEMBERTON �
SUBJECT: CITY COUNCIL PUB,LIC HEARING - MAY 10, 1983
Attached is a copy of the Public Hearing Publication for April 23, 1983.
This notice has been published in the St. Paul Pioneer Press and St. Paul
Legal Ledger. This Public Hearing Notice meets the fifteen (15) day re-
quirement.
Please place this Public Hearing on the City Council Agenda for May 10,
1983. A City Council Resolution will be forwarded to you by the City
Attorney's Office, prior to the City Council meeting.
Thank you.
SAP:rmf
Attachments
cc: Gary Peltier
Becky Hartman
_. . . _�.._._,_ ...., .. ,. . .
_ . . .,:
_ .m , .
.;� . . . . _. . :.^r � � �r... � „- .., .
' other bb!! atfons to'be issued to tinance the
NOT[CC OF POBUC HEAR(NG ON A g •
-PROPOSAL FOR PROGRAM Q@ P*o1�ts are i3,7�5,000.The City intends to
PROGRAMS�TO FlNANCE A MULTI- direct and authorize The Housing and ;R'S AFFIDAVIT OF PUBLICATIOIV �i�+���F'4•��,
FA�MIILY AOUSING DEYELOPMENT �evelop.�nent AutAority of the City of Saint .
' ' - Paut, Minnesota(the"HRA")to issue'such 4 6" � ' �
•_:_ 1 ..,...,•v--- .
To whom!t may concern; , �nds or other obligations and to implement
� the financing program for eacA Project.
Nolice is hereby Biven thet ibe City Counci] �;a bonas or oct�er obiigations, as ena �Iy sz�orn,on oath says he is a�ul d+<ri�tg a1l th.e times herein stated
of the City of Saint Paul,Minnesota will meet when issued,will not rnnstitute a charge,lien of llte newspa�er known as ThB Saint P¢ul Legal �Ledger (Lnd
[n tbe City CoucMil Chambers at the City Hall
In the City of Saint Paul,Minnesota af l0:00 arencumbrance upoaany property of the City herein stated as f OZZ07.US: (2) Said newsp¢per is printed {n the
+ o cicek a.m.on May 10,�983,to consider the �f Samt Paul,orlhe HRA except the Projects orm,rzt and in column aoid sheet form equivalent in printed space
� pro��al ut iS�e Ox�nen identified belevr that and ;he revenues to be derived tbet+efrom: ) S(Cid �ae�vspaper is a daily and is disfrzb�tted dail�except S+inday�
the City undertake a prog,ram ur programs tp Such bonds orobligations will not be a charge : ytgw3�Qp67 fL(lS 25�fa Of its news col2cmns devote3 to news Or
financethedevelopmentotelevenprojects,all against the City's general credit or taxing whiCh it purports to serve and does not 2Uholly duplieate driy
Jocated in ihe City oI Saint Paul and pOWe�but am payabie trom sums to be paid �e u�1 entirely of �atents, Zll(Lf6 matter ¢nd advertisements;
hereinafter described,pu=suant to the City$ tiy the owners of the Projects pursuant to a in and near ths munici�ality wh,ich it �urports tv serue, Fucs
housin6 plan under lAinnesota Statu +rvenue agteement.
�. iver�d to paying subscribers, 1a¢s an ¢verage of at Ietrst 75%
Chapter 4�C, by the ;r.a,a�e oS revenue �+<<he time and place fixed for►he public p�id or no more tlaan three moriths in arrears and Fias e�ntry as
boRas. t,earing,the City Council of the City of Saint past-ojj`ice; (5) Said newspaper purports to serve th,e City oJ
�ePl.o1�� •Paul. Minnesota will give all peisons wt,o ,y dnd it has �LS FC1b09.U?t Off4C6 Of 4SSiC8 44b tIL6 City of St. Paul �n
d•APro3}ctconsistingat3l�eacquisition�ota appeaT at the hearing an opportunity to ;9t during 4tS regular business hours for the gatlieri�:g Of neu�s,
express thel: views with respect to the
T-unit bridc structum lod�ted at 305 Dsrra proposa1 rj subseriptions and maintained by the managing ojjieer oj said
ana cur�otiy owned by T& F Inc.aod it� ploy eLnd subject to h.is direetion and control during all sueh reg-
rehabilitation for use as a multi-family rer,ta! Da�d this Ylat day of April,i9aa. yy said newspaper is printed; (6) Said news�aPer �iles a capy oJ
housing developmer.it The �ost .r esYOansxoF�s e State Sistorical Society; (7) b'aad newspaper lias complied with
rehabilitwfipn is i380,00Gf„and the estim`Cid �CITYCOUNCILOFTHE �t Zeast two years preceding the day or dates of paibZication men-
emouuta�tineMir,gt�x�,ppp, ' CfCYOFSAINTPAUL,kfINNESOTA) ��.,. has �led witla the Secretary of ,State of Minnesota prior to
2.AYiujectconsistiog�fxheacquisitioa�nd BYA�ERTB.OISON y 1 thereajter an affidavit in the�orm prescribed by t7Le Secretary
constructinn of a 6unitwsod-frame stnaet�re ' CityClerk 9ing ofJ`icer of said newspaper¢nd sworn to before a notary pubi�c
�ocatea s.t 1250-1260 Virg�ia Street op a.ite . <Apd123.1ss3> ZegaE newspaper.
curneatlyrowned by Yirghu�Crossiny Limltd ���,r�,�AUL LEGAL LEDGER►►►► -
.
PartnersNip for use as,amulti-family:�aiCa1 LhdL thC jJY{.%t8d ..........�O•�.•l�C E3...........
.___._._.,,�,,.. ............
housing development.'S�I9eestimated asr�wnt �`", •`•'-""'__�._�._._
orciea�u�;ss�2o,o00,.,. „, ,, , ........... ...._...... hereto attached as a �art hereoj was cut from the columns or said
9.A Projece cons;asin��,f a auPlea scr_udue , ���,D�er Qnd wa8 printed and published therein in the English ianguage, once; that it u+as ao
Iocated a►99 Victoris ar�acumently ovr�llby .23rd........ day or ....p,�p��,i........, 19$.3,
John ltittle and!ts iehauEliUtion tor asea a ��� •••--•Sa-tL7.�dd�7.�t�L6 .....
swo-tany�y renxai nous:i�aeveloPme�c_a,e anii t�iat the following is a printed copy oJ the iower case aEphabet from A to Z, both inclusive,
cost oi�habilitatlon is��0,00p,and est�ffied
amc»nc,�t tinancing is:,�,000. , , a�i �s l�ereby aele�owledysd at bat�tg the a{ue a�d ki�d of type used in the composition and
4.APaujectconsisttaL�Dttheconstrwcssiamof p�{p� O' 1� 110t�� t0 10tt::. . � , .. *.� . ��
___
,a wood-�Irame double htw�alow loca�Yd]at ,; ., r _-.:._ �
. . .
147•151 ffort6-Miltnn. SR Paul. Mi�ta , . , . -• . . . ___. ... ::.
•currentf3 rnrned by Gs�irl Crane/Aktrndez
&Assoei�les for uae s�a two-famil�p:aaiRat !
huusing Jevelopmen��osiruction cr.��d �
lht esti�pated amou:l;of,.finaaciqe are NOTiCE OF PUBLIC HEARING ON A rehabilitation is $400,U00, and esfimated �"jD�j�
'eppf�oxima4lys125,001�.;� . ,: _ PROPOSAG FOH PROGRAM OR ��m�unt of financing is 3575,000.
S.A Psjed co�istinq�lof a dupleu sta��ve PROGRAMS TO FINANCE A MULT[- 9.A Project consisting of the acquisition of a
1o�nked at 111�Selby SWenueana cusmti� FAMILY HOUSING DEVELOPMENT wood-frame duplex located at 843-845 Selby
owaedb;Johu7Yttlearlgd�ltsrthabilita.ti�dor and currently owned by Steve Madole d/b/a ,
use as a "!wo-famzi�w reatal h:m�tag To whom it may concern: SHM ftestoration and rehabilitation for use as Apr il_, �� i9�-, 8 3
deveiopiaent. 1Tx cosi2pf nL�pj1itapFiom is Notice is hereby given that the City Council d two-family rental housing development.The
i40.000 aiW theestimat-t�a�ouot of fin;nang cost of rehabilitution is$85,000,and estimated
of the City of Saint Paul,Minnesota will meet �
�is=80,00� `� � �:�.. .. :� , � -, ��� � amount of financing is$145,000. �
- � ��� - � ' in the City Council Chambers at the City Hall 10. Two Pro ects consistin of the -
' B.AFx�jetleotuiat(nF�ttheaeq4isf�y�y�d8 in the City of Saint Paul,Minnesota at t0:00 � g =�� � ""�
wooddrame duplez lo+�ed at 319 F. acquisition of two separate 26-unit brick ,
�ty _ o'clock a.m.on May !0, 1983,to consider the structures,one located at 136 Westen�Avenue, �
�Street and o�vned�by k�eil Jensen LatIIL3 proposal of the Owners identified below that �nd the other located at 369 Western for use as � � ' �
rehabilitrtlon for use:��s twofamii .�ndal the Cit undertake a �
Y' y program or programs to multi-family housing developrneuts.Both are
housingt Eevelopmrt�r4_..The� cas:t� Of finance the development of eleven projects,all currently owned by Sudheimer and Associates � � �
.ehabilit�tion is =13�,'qi0 and eaTimdpo located in the City of Saint Paul and Limited Partnership. The cost of � "
�amount d fiaanclpg ia 5330,000. < � ��- � hereinafter described,pursuant to the City's � �� � � �� .h` :'
� A P � rehabilitation is $150,000, and estimated
rrojeM conststinp;�pfthe a yisi,�innat housing plan under Minnesota Statutes, amount of financing is$1,500,000.
ari exist}rg structure la.:-aied at 820 C�.pt91 Chapter 462C, by the issuance of revenue
Hei�hhts :and owned cu reatly by RotxttS, bonds. ll.A Project consisting of the acquisition of
Peltirr a,ad its rehabii-iltion for use:;asa The Projects a wood-frame duplex located at 77-79 West
single-famtly"rental'T�e�wng develo�xm�2.' Cook and currenUy owned by John Cirney and
17:e ecst of rnhabilitakSon and eslinaatd 1.A Project consisting of the acquisition of a John Cook and its rehabilitation for use as a
amount odtYu�a�ing is R 19Q00., 7-unit brick stncture located at 305 Dayton two-family rental housing development.The
8.A P ' and currently owned by T & F Inc. and its estimated cost of rehabilitation and financing
rojertrnnsisting}�meacquisiti�a�68� rehabilitation for use as a multi-family rental is$130,000.
3-unit wa�ddrame stru�re locafed a:t;8D housing development. The cost of
HolFy Auenue and ecEtmtly owncvtE :l� Each project will be occupied primarily by
He.rita P rehabilitation is $380,000, and the estimated
g<• Bevelo mez� Inc. and: iit amount of financing is$455,000. persons of low and moderate income.Not less
-ehabilita�;Iom ior use as stikee•faauly;wertti than 20%of the units in each Project,�rlll be
Aousing developmett2. The cost Q: 2•A Project consisting of the acquisition and �cupied for the period required by �'e�nl
•�habititation is Sf00,f�;:and estim.stet ronatruction of a B-unit wood-frame structure law(not less than 10 years after 50%at pich
raaiiount oi Li�•ancing is S5"l�0p'. located at 1250.1260 Virginia Street on a site project is rented)by persons whose ineou►e ls
9 A P g acquiS1;1Q�f,.aLm curnntly owned by Virginia Crossing Limited 80 pement or less of inedian income for the
rojc-�consistin o:�:lle p�rtnexship for use as a multi-family rental
xood-frame��!�aler local:ax�t 843•845 S!�1'.r,ir Minneapolis-St. Paul Standard Metropolit�n
and nirrentFy::a•ned by t3�ve Idadole di'b!a �usln�development.The estimated amount Statistical Area as determined by the Unitei
Sf{M Restorit o and rehfkt�litation for us�.�c_
of tinancing is$420,000. States Department of Housing and Urb�n a
at�o-family�mrralbousin�development'�7a• 9.AProjectconsistingofaduplexstructure Development. Total approzlmate
cost of rehabilfi it'on isEl1'i40s,and estuas�Yat3' located at 99 Victoria and currently owned by development costs for all Projects �vlll be
amount af iica�ri tig is�1�900: ' Jo6n Tittle and its rehabilitatlon for use as a $4,355,000. Commercial, retail and ofilce
_20. Two fi'��;>cts csnsi�ting of,t&tir two-tamily rental housing development.The components will not be included within an�ot
acquisitiop of +.k�� separ.�:e:26unit br.icl� �of rehabilitation is 540,000,and estimated the Projects.
stnx4utes,oae;tee+ed at]ii�Westem Avem;a4, amount of financing is 385,000. Each of the current owners of the �bove
nnd the ot6er Ioc te,i at 3S9 V4dctem foruse ss 4.A Project consisting of the construction of described property will be transferria�
�nulti.lamilp ho�.;:rg devel-tp�sents.Bot6 azse ■ vood-frame double bungalow located at ownership to a successor person or entitr at
:urreettyowned6f°�udheic�erandAssociatms 1�7-151 North Milton, St. Paul, Minnesota some date in the future.
Limited Parta ership.' Tie. cost od currnitly owned by Capital Crane/Alexander The estimated principal amount of boodt or
re6a6f1itaUon ;s 8;50,000, �aad estimated k Associates for use as a two-family rental other obligations to be issued to finance the
rmoetnt ot financa yi:E1,3Q�,6�, housing development.Construction costs and Projects are 53,745,000. The City intends to
11.A Projeet cons>*ng of'tSe acquisition at the estimated amount of financing are direct and authorize The Housin� and
� wooddrame d�;�l c �«�s<a at?7-79 Wes4 approximately$125,000. Redevelopment Authority of the City ot Saint
'ook and+currnntly o.v..ed by JatxtCireey and 5.A Project consisting of a duplex structure Paul, Minnesota (the "HRA") to issue such
�ohn Cook and its re'n bilitafiorrtbr use as� located at 1114 Selby Avenue and currently bonds or other obligations and to implem�nt
wo-femify ceatal ho s ng dc.�ir,'�;nent.The owned by John Tittle and its rehabilitation for the financing program for each Project.
�stimatedcostofret:a`iitailmri�tnttinancine use as a two-family rental housing Said 'qonds or other obligations, as and
s E130,000. development. The cost of rehabilitation is
when issued,will not constitute a char�e,lien
Eech pmject�vill be u:vpied Fiharily b� E40,000 and the estimated amount of financing or enwmbrance upon any property of the Ctty
; rsons of iom aad moueaate inca.�t01 Not less is 580,000. of Saint Paul,or the HRA except the Projects
'han 20 k of the mits In cach Pta+`+4l'.will be . 6.A Project consisting of the acquisition of a and the revenues to be derived therefrom.
�ccupied for tb.^oeriod required k'7Sederal wood•frame duplex located at 319 Ramsey Such bonds or obligations will not be a char/e
aw(not tess thec 10 yw�s after Sb:�-cY each Street and owned by Russell Jensen and its against the City's general credit or taxln�
''to}�rt is rented7 l�•peraons wAose�. �tme is rehabilitation for use as a t�vo-family rental poweis but are payable from sums to be paid
�0'percent or kss c!median income;•cr the. housing development. The cost of by the owners of the Projects pursuant to a
lutncapalis-St.Pau:Standard Metropa;iis.� rehabilitation is $130,000 and estimated revenue agreement.
�tatistical Area as ue�..-mined b�the Unitec amount of financing is$150,000. At the time and place fixed for the public
�'tsites Department o2 '�_,using and,Urban
'>evelopment. Tota" apprAximate �•A Project consisting of the acquisition of hearing,the City Council of the City of Saint
�evclopment roats for aL ?'rojects will be an existing structure located at 820 Capltal Paul, Minnesota will give all pe7sons who
4;355,WU. Commemial, re �.t c�nd office Heights and owned currently by Robert S. appear at the hearing an opportunity to
omponents w�lll not be include�.r,•i?hin any of Peltier and its rehabilitation for use as a express their views with respect to the
�,p�.o�� ' single-family rental housing development. proposal.
F:ach of the tvrtent oavneK of t.�c�above The cost of rehabilitation and estimated Dated this 21st day of April,1983.
escribed amount of financing is a80,000.
pmperty svill.be transferrin& (BY ORDER OFTHE
rvrtership to a successor persoa ot entity at. 8.A Project consisting of the acquisition of a CITY COUNCIL OF THE
�Yae date in the futuze.,,,,,, L, 3-unit wood-frame structure located at 500 CITY OF SAINT PAUL,MINNESOTA)
Ttse eatimated principa3 amo�ot of bonds or` Holly Avenue and currently owned by By ALBERT B.OLSON
Heritage Development Inc. and its CityClerk
;�, rehabilitation for use as a three-family rental (April 23,1983)
� housing development. The cost of
����ST.PAUG LE(iAL LEDGER►►►►