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00-367Return copy to: Real Fstate Division 140 City Hall OR�G(NAL Presented By Referred To CITY OF Committee: Date WHEREAS, representatives of Holiday, on behalf of Cedaz Falls Oil Company, owners of a former Clark stauon located at 400 North Dale Sueet, approached the City with an offer to sell the properiy;and WHEREAS, although no City department expressed an interest in the property, Ramsey Acuon Programs which conducts a Head Start program on property it leases from the City adjacent to 400 North Dale, needs the additional space to facilitate its operauons at that location; and WHEREAS, the owners have agreed to sell the property to the City for the $17,500 appraised value with terms of the sale consisting of $4,000 down and a$13,500 mortgage; and 9 WHEREAS, the Department of Planning and Economic Development has approved a Community io Development Block Grant for the $2Q000 cost of demolition; and i6 i i WAEREAS, Ramsey Acuon Programs has agreed, in return for adding the 400 North Dale property to �a the leased premises of I.ease Agreement FMS125, to make the $4,000 down payment and the $333 is monthly payments on the mortgage to Holiday, Inc. until the mortgage has been satisfied, and to ia reimburse the City, at $1,000 in each of the first 5 years and $5,000 in the sixth year, for $10,000 of the �s $20,000 cost of clearing the property; is THEREFORE BE IT RESOLVED, that the proper City officials aze hereby authorized and directed to i� purchase the 400 North Dale property; is BE IT FURTHER RESOLVED, that the proper City officials aze hereby authorized and directed to i9 amend L.ease Agreement FMS/25, adding the 400 North Da1e property to the leased premises in zo exchange for the $4,000 down payment and monthly payments of $333 on the mortgage, and zi reimbursement, over six years as described above, of $10,000. Requested by Department of: Technoloev & Manaeement Services � Form Approved by City Attomey I� e \ '��a _�!�� - � � � � . - rii � 1' %`� : � ,_, , . s�i��%s riii Councit EYIe # oc _ 3��j GreenSheet# Io�IgCZ RESOLUTION PAUL, MINNESOTA An n•�a by Mayor for Submission to Council B � ��c�.� J � \� Adopted by Council: Date ��, \� a«rn . Adoption Certified by Council Secretary .M.S./REAL ESTATE DIVI5ION Date: March 20, 2000 r n S eet Number: 104867 afac[ Persoa and Phone N r: 2 EPAR D ELq rl 4 Q1'Y COUNCIL L7 /' Dave Nelson 266-8850 1 1'PATTORNEY cL�uc i3ll6ETDII2ECPOR FFICEOFF7NANCSe1LSVCS ost be m Comid Agenda by: 3 ypg (OR ASSISTAN'P) 5 ESTA'A'E DIVISfON OTAL # OF SIGNATURE PAGES 1(CLIP ALL LOCATIONS FOR SIGNATURE) CTION REQUESTED: To authorize the purchase of the property at 400 North Dale Street and Addendum IV to Lease Agreement FMSl25 with Ramsey Action Programs to add the property to the leased premises with t}�e lessee providing the down payment and maldng mortgage payments and reimbursing half of the demolition costs. Ref: 1. Resolution for consideration; 2. Map showing current leased premises and subject property; 3. Copy of Addendum IV to Lease Agreement FMS/25 4. Copy of Purchase Agreement coNmlErmA7zoxs: nrrROVS (a) ox �cz (ic) ERSONAL SERVICE CONTRACTS M[JST ANSWER THE FOLLOWING: . Aas the person/Cmn ever worked mder a contractforthis deparlmeMY YES NO Y44NMNGCOMMISSiON A STAFF . Has this person/Srm ever been a City employee? YE5 NO CIVIL SERVICE COMMiSSiON . Does this person/Srm possess a skill notnorn�ally possessed by any YES NO curtent C�ty employee? CI8 COMMl'11'EE E lain all YES answers on a arate sheet and attach. UPPORTS WHICH COUNCIL BJECTIVE? OUNCIL WARD(S) 1 DISTRICT PLANIVING COUNCIL g NITIATING PROBLEM, ISSUE, OPPORTUNITY (Who, What, When, Where, Why?): The owner of subject property offered it for sale to the City. VANTAGESIFAPPROVED: Ramsey Action Prograins will have needed additional space to facilitate its Head Start program. ISADVANTAGES IF APPROVED: None �U?1�3 ��4 C2�i��' ISADVANTAGESIFNOTAPPROVED: ��t^�$` � �, ,�o�� Ramsey Action Programs will have insufficient space for its Head Start program. OTAL AMOUNT OF TRANSACTION: $1'J�SOO COST/REVENUE BUDGETED (CIRCLE ONE) YES NO ixc souxcE: Ramsey Acrion Programs AcTIVrr� ��x: INANCIAL INFORMATION: (EXPLAII� Ramsey Action Programs will provide down payment and will make all mortgage payments. In addition they will reimburse the City for half of the $20,000 already approved for demolition. � � � � I � � � I � �� _�. _ - - � � --- �, - � , = �e�) �� , W �� o M � ��is i ., �� , 2 �— i � E ;;-. .. . 9. i a�<� � 39.5 " I I � j ti 4 I 5 I'4' 13 �� I T -- � � f � Q � �„1 � ? 4 y ^�IC 17 18 �t MI 39.5 � �G�6nl "��1�K7�� t�2 � � �_ � - - - CD - � N � -- - r -�- - �- ;--�--, �- ; -�--� -, � � � � � i � i i , i � � I i i t � � i i � � i i � i I i , � � � � � � i t 1 � � t � � i � i i I LER ------� oo-3G� Department of Technologp and Management Services Real Estate Division A.DDENDUM IV to LEASE AGREEMENT FMS/25 WHEREAS, on March 1, 1979, the City entered into Lease Agreement PMS/25 (formerly PED/1) with Ramsey Action Programs, Inc. for the purpose of providing child development programs in a facility located at 586 Fulier; and WHEREAS, the Lessee has petitioned for the addition of property adjacent to the leased premises located at 400 North Dale Street and legally described as: Except the east 10 feet, the following: Lots 17 and Lot 18, Btock 10, Mackubin and MazshalP s Addition to St. Paul; and WHEREAS, the City has purchased the property from Holiday Companies for $17,500.00; and WHEREAS, the Lessee has agreed to make payments for the property on behalf of the City to Holiday Companies pay Holiday Companies; and WHEREAS, the City using Community Development Block Grant funds to clear the sfte for development in the amount of $20,000; and WHEREAS, the Lessee has agreed to reimburse the City for the site clearing cost in the amount of $10,000 based on the payment schedule contained in this addendum; NOW THE?2EFORE BE IT AGREED: that the following paragraph shall be appended to the said Lease Agreement FMS725: XXV Reimbursement for the Site Cleazing cost. For the purpose of reimbursing the City for $10,000 provided as a loan for site clearing cost Page 1 of 4 00 -1�h Lessee shall make the following payments, as rent: Ju�y i,2000 ..............................................................................si,000 luly1,2001 ..............................................................................� July1,2002 ...............................................'--............................$I, July1,2003 ..............................................................................$ July1,2004 ..............................................................................$ Juty1,2005 ..............................................................................$ XXVI Mortgaee Note Pavments To Holidav Com�anies on behalf of the City of Saint Paul Mortgage Amortizafion Key Figures ��p� MnualLOanPaymenis 53,9%00 LoanPrinc�patAmount 5t3.500.00 Monthty Payments E333.00 Mnual hteresl Ratn 8.00% Fterest in First Caiendar Year $578 22 Loan PenoC M Yeats d trterest Over Te�m of Loan $2,16].90 Base Vear of Loan 1999 Sum of AN Payments 515,657.90 Hase hMnN ot Laan Nov 8egmning Cumulstrve Cumula[ive Enaing Vear Month Pmt W Balanca Paymen[s Princ'ryal 1'iterest Pnncipal Marast Balance 5999 Fbv 1 $13,50000 5333.00 333.0 5000 E333W .00 513,16T00 Oec 2 13,16].00 33300 24522 8].78 57822 87.78 81?92778 2�00 Jan 3 12921]8 333.00 24685 8615 8250] 173.93 $12,67493 Feb 4 12,67493 333.00 2a850 8450 1,W35] 258.43 $12,426.43 Mar 5 12,<2643 333.00 25016 82.84 7323.73 3412] $12,176.21 Apr 6 12,116 27 333 00 251.82 81.18 1.575 55 422 45 $11.924.45 May ] 1192aA5 33300 253.50 7950 1.829.05 SOt95 SN6]095 Jun e 116�095 333.00 355.19 7].81 2,08424 579J6 511,-015.]6 Jul 9 N,41576 333.00 256.89 ]6.11 2.341.13 655.8] $11.158.eI q�g t0 1t 15887 333.00 258.61 7439 2,599.T4 73026 E10,90026 Sep ii 10.90026 33300 260.33 �2.67 2.860.07 8�2.93 E10,639.93 OG 12 10,639.93 33300 262.07 ]093 3,t22.14 8]3.86 510.3]].86 Nov 13 10,377.86 333.00 26381 6919 3.385.95 943.05 510,t14.05 Dec 14 10,11a05 333.00 265.57 6743 3,651.52 1.Ot0.<8 59,848.48 2001 Jan 15 9,848.48 333.00 26734 65.66 3,91886 t,076.14 $9,581.14 FeG i6 9,58114 33300 269.13 63.87 4.18]99 t,740.Ot $9,31201 Mar i] 9,31201 33300 270.92 620H 4.45891 1.202.09 59,04199 Apr 18 9,Oa109 33300 272.�3 6027 a.]31.64 1.262.36 38.16836 May 19 B,i6836 333.00 2P4.54 SBd6 5,W6t8 1.32082 58493.82 Jun 20 8,49382 333.00 176.3� 5663 5.28255 1,3]].45 b8.217.45 JW 21 8,21]45 33300 27822 54]8 5,56077 t,43223 57.93923 Aug 22 7,939 23 333 00 280 0] 52 93 5.840 84 1.485.16 S1.659.16 Sep 23 ],659.16 33300 28194 5106 6.12278 1,53622 $73]]22 Od 24 ],37�22 333.00 263.82 4918 6,406.60 1.5854� $7,093.40 Nov 25 ] 093 40 333 00 285.71 4� 29 6,692 31 1,632.69 $6,807.69 Dec 26 6,80].69 333.00 28762 4538 6.W993 5,678.0] 36,520.O1 2002 Jan 2] 6,5200] 33300 28953 <34] 7,269.46 1,]21.54 $6.23054 Fetl 28 6,2J0.54 33300 291 46 4M1 54 7,560.92 t,76308 $5,93908 Ma� 29 5,93908 333.00 293.d1 3959 7,854.33 1,80267 $5.6456] Apr 30 5,6456I 333.00 29536 3Z64 8J4969 1,840.31 $5.350.31 May 31 5,35031 33300 297.33 3567 8.44702 18]5.98 55.052.98 .Fm 32 5,052.98 333 00 299 31 33 69 8.746.33 1,9�9,67 54.]53 67 .NI 33 4,753.6] 33300 301.31 3169 9,047.64 1.941.36 54.452.36 A�g 34 4,45236 333.00 303.32 29.68 9.35096 1,971,04 54.14904 Sep 35 4,14904 33300 3�5.3d 2766 9.65630 1,998.70 33,843.70 Oct 36 3,84370 33300 30]38 2562 9.%368 2,024,32 53,536.32 Nov 3� 3.53632 33300 309.42 2358 10,2I3.t0 2,047.90 53,22690 Dec 38 3,22690 33300 31t 49 2151 10,58459 2.069,4t E2,9154t 2003 .)an 39 2 915 41 333 00 313.56 t9.a4 10,fl9815 2 088 85 52.601 85 Fep d0 2.60185 33300 31565 1]35 11,213.80 2,10620 $2,28620 Ma� 4l 228620 333,00 31776 1524 1153t56 2,/2144 Si.96844 Apr d2 1 968 44 333 00 319 88 13 12 11 851 44 2.134.56 31.648 56 May 43 t.6d856 33300 322.01 1099 12,1]345 2,145.55 51.32655 bn 44 t,32655 333.00 324.16 8-Ba 12,d97.61 2,15439 81,002.39 Jul 45 1.002 39 333 00 326 32 6 68 12.823 93 2,161p7 5676 0] Aug 46 6]6.0� 33300 32849 A51 13,152.42 2,165.58 534758 Sep 4] 34].58 33300 330.68 232 13,483.10 2.167.90 316.90 Ocl -08 1690 t70t 16.90 011 13,SOD00 2A6801 (50��) Page 2 of 4 00 -36� For the purgose of making mortgage payments on behalf of the City. Mortgage amount $13,500.00; Monthly payments of $333; Interest rate of 8% annuai; 1�` payment due at ciosing, results in a mortgage balance at the time of closing of $13,167.00. At the closing, RAP shail pay the $4,000 downpayment, plus the 1n payment of $333.00 towazd the mortgage. Payments shall be made by RAP to Holiday Companies at 4567 West 80'" Street, P.O. Box 1224, Minneapolis, MN 5544Q. 2. That all other terms and conditions of Lease Agreement FMS/25, including all previous amendments and addenda, shall remain in fuil force and effect. 3. No prepayment pentality will be assessed in the event RAP elects to prepay either the XXV Reimbursement for the Site Cleazing Cost or the XXVI Mortgage Note Payments To Holiday Companies on behalf of the City of Saint Paui. Page 3 of 4 00 -3�Z IN WITNESS VJF3EREOF, the parties hereto have set their hands and seals on the date indicated: FOR THE CITY: Mayor City Clerk Director of Pinancial Services FOR THE LESSEE: 1��: Date Date U ��/2 ��/� Ramsey Action Programs Date (FMS25ad4rev) Page 4 of 4 ofl -�c� Department of Technology and Management Services Rea1 Estate Division 140 City Hall Phone: (651) 266-8850 Saint Paul, MN 55102 Fc�.• (651) 266-8855 CITY OF SAINT PAUL Norm Coleman, Mayor PURCHASE AGREEMENT October 8, 1999 �� 7 "'�i RFA[ FsrqrEOivisio Seller: Holiday Companies c!o Mr. David D. Heschen, Director of Real Estate 4567 West 80`� Street PO Box 1224 Minneapolis, MiV 55440 Buyer: City of Saint Paul Real Estate Divsion c!o Dave Nelson, Real Estate Manager 140 City Hall Saint Paul, NIN 55102 Mortgage Payee: Ramsey Action Programs c/o Mr. Morris Manning, Headstart Director 450 Syndicate Street Saint Paul MN 55104 1 Agreed upon Sale Price of $17,500.00, for the property located at 400 North Dale Street and legally described as Except the east 10 feet, the following: Lots 17 and Lot 18, Block 10, Mackubin and Mazshall's Addition to St. Paul 3 The Seller will provide financing for the uansaction under the following terms: 3.1 � The Buyer shall receive at the closing a Warranty Deed from the Seller. The Mortgage Payee shall provide at the closing a down payment in the amount of $4,000.00. 3.2 The Buyer will provide a note to the Seller in the amount of $13,500.00. Page 1 of 5 00 -5�7 3.3 The note will bear an interest rate of 8% annually. 3.4 The Mortgage Payee will make monthly payments of $330.0� per month until the note is paid. The first month payment will be due at the closing. See Exhibit A- Payment Schedule 3.5 1�` payment due at closing, results in a mortgage balance at the time of closing of $13,167.00. At the closing, RAP shall pay the $4,000 downpayment, plus the l�' payment of $333.�0 toward the mortgage. 4. The sale must be approved by the Ciry Council, along with approval of an Addendum IV to Lease Agreement FMS/25 between the City of Saint Paul and Ramsey Action Programs (RAP). Mortgage Payee shall pay the prorated amount of the 1999 Real Estate tases as of the date of closing. 6. In the event, Real Estate Taxes aze levied in the year 2000, the Mortgagee Payee shall be responsible for the payment of the said taxes and assessments on behalf of the Buyer. The Buyer will be responsible for the removal and the cost of the existing site improvements. The Mortgagee Payee shall reimburse the Buyer in the amount of $10,000.00 as shown Addendum IV to Lease Agreement FMS125. 8. Seller shall pay all assessments levied against the properiy as of the date of closing. 9. Seller shall provide the Buyer with proof of payment of taaces, assessments and liens. Any taxes, assessments and liens not paid as of the date of closing, will be withheld from the purchase price. 10. Seller shall provide the Buyer, within seven days of signing this Purchase Agreement, an updated Abstract of Title andJor an Owner's Certificate of Title. Seller agrees, at Sellers's cost and expense, to correct or remove any exception or "clouds" on the title as shown on the Buyer s"Commitment to Insure" title examination report. 1 I. Seller shall provide an affidavit on the date of closing, indicating that the Seller has not used or permitted the use of the subject p*operiy as a ka�ar�?ous waste disposal facility as defined in section 115A.03 Subd. 10 of Chapter 121 of the Laws of Minnesota of 1983, and that there is no basis to conclude that this property has been subject to or contaminated by the release of any hazardous substance, hazardous waste, pollutants of contaminants as defined in Section 115B.02 of the Minnesota Statutes. Page 2 of 5 D 0 -3�� 12. All warranties and representations made in this Purchase Agreement shall survive the closing and the conveyance of title to the properry. This Purchase Agreement and all obligations provided shall, to the extent not fuily satisfied and performed by or through the Closing, survive the closing and the conveyance of title to the properiy. 13. No prepayment pentality will be assessed in the event RAP elects to prepay either the XXV Reunbursement for the Site Clearing Cost or the XXVI Mortgage Note Payments To Holiday Companies on behalf of the City of Saint Paul. Page 3 of 5 00 —5c.� IN WITNESS WAEREOF, the parties hereto have set their hands and seais on the date indicated: Seller: : Holiday Companies, Director of Real Estate Date: Buyer: � City of Saint Paul, Real Estate Manager Date: Mortgagee Payee: B /��e-�v �-e Ramsey Action Programs Date: _ l�! ZZ/ (/ - Page 4 of 5 bo-��? Exhibit A - Payment Schedule Mortgage Amortization Key Fyures lnputs Mnual Loan Payments 53,996.00 Loan Principai Mwunt 513,500.00 Moni�lyPayments g333.00 MnuallnterestRate 8.00% Interest in First Calendar Year E57822 Loan Period in Years 4 Nterest OverTerm of Loan 82,767.90 Base Year of Loan 1999 Sum oflill Payments $15,667.90 Base Month of Loan Nov Beginning Cumulative Cumulative Entling Year Month Pmt No. Balance Payments Principal Nterest Principal Interest Balance 7999 Nov 1 513,500.00 $333.00 5333.00 50.00 §333.00 $0.00 513,767.00 Oec 2 73,167.00 333.00 24522 87.78 57822 87.78 512.927.78 2000 Jan 3 12,921.78 333.00 246.85 86.15 825.07 773.93 $12,674.93 Feb 4 72,674.93 333.00 248.50 64.50 1,073.57 258.43 $72,426.43 Mar 5 72,426.43 333.00 250.16 82.84 7,323.73 347.27 372,77627 Apr 6 72,17627 333.00 251.82 81.18 1,575.55 422.45 Sii,924.45 May 7 71,924.45 333.00 253.50 79.50 t,ffi9.05 501.95 &11,670.95 Jun 6 71,670,95 333.00 255.t9 77.87 2,08424 579.76 $1t,4t5.76 Jul 9 17,415.76 333.00 256.69 76.71 2,341.73 655.87 $71,158.87 Aug 70 77,158.87 33300 258.61 74.39 2,599.74 73026 $10,90026 Sep 77 10.90026 333.00 260.33 72.67 2,860.07 602.93 $10,639.93 OCt 12 t0.639.93 333.0� 262.07 70.93 3,t22.t4 873.86 $10,377.86 Nov 73 10.377.86 333.00 263.87 69.19 3,385.95 943.05 $70,714.05 Dec t4 70,714.05 333.00 265.57 67.43 3,657.52 1,070.48 $9,848.48 2001 Jan t5 9,848.48 333.00 2fi7.34 65.66 3,916.86 t,076.14 $9,581.74 Feb 56 9,58},}q 333.00 269.t9 63,57 4,�87.99 1,S40.Ot 59,352.05 Mar 77 9,372.01 333,00 270.92 62.08 4,458.91 7,202.09 $9,041.09 Apr 18 9,047 09 333.00 272.73 6027 4,731.64 1,262.36 $8,768.36 May 19 8.768.36 333.00 274.54 58.46 5,OO6.t8 t,320.e2 $6,493.82 Jun 20 8,493.82 333.00 276.37 56.63 5,282.55 t,377.45 $8,217.45 Jul 21 8.277.45 333.00 27822 54.78 5,560.77 1,432.23 $7,93923 A�g 22 7,939.23 333.00 280.07 52.93 5,840.84 1,465.16 $7,659.76 Sep 23 7.659.16 333.00 281.94 57.06 6,t22.78 7,53622 $7,37722 Oci 24 7,J7722 333.00 283.82 49.18 6,406.60 1,585.40 $7,093.40 Nov 25 7,093.40 333.00 285.77 4729 6,692.3t 7,632.69 $6,807.69 Dec 26 6.807.69 333.00 287.62 45.38 6,979.93 7,678.07 $6,520.07 2002 Jan 27 6.520 07 333.00 289.53 43.47 7,269.46 7,727.54 $6,230.54 Feb 28 6.230.54 333.00 291.46 47.54 7,560.92 7,763.08 $5,939.08 Mar 29 5,939.08 333.00 293.41 39.59 7,854.33 7,802.67 55,645.67 Apr 30 5,64567 333.00 295.36 3764 6,149.69 7,840.37 $5,350.31 May 31 5.350 31 333.00 297.33 35.67 8.447.02 1,875.98 85,052.98 Jun 32 5.052.98 333.00 299.31 33.69 8,746.33 7,909.67 $4,753.67 Jul 33 4,753.67 333.00 301.31 31.69 9,0<7.@4 7,941.36 $4 a52.36 Aug 34 4,452.36 333 00 303.32 29.68 9,350 96 �,9)1,04 $4,149.04 Sep 35 4,74904 333.00 30534 27.66 9,656.30 7,998.70 $3,84370 OCt 36 3,843.70 333.00 307.38 25.62 9,963.68 2,024.32 $3,536.32 Nov 37 3,536.32 333.00 309.42 23.58 70,273.10 2,047.90 $3,226.90 Dec 38 3.226.90 333 00 311.49 21.51 10,584.59 2,069.47 $2,915.47 2003 Jan 39 2.915.41 333.00 31356 79.44 t0,898.t5 y,088.fl5 $2,60t.85 Feb 40 2,601.85 333.00 315.65 77.35 7'1,273.80 y,706.20 $2,286.20 Mar 41 2.26620 333.00 317.76 15.24 71,537.56 2,727.44 $1,968.44 Apf 42 1,96844 333.00 319.86 13.12 17,857.44 2J34.56 $7,65856 May 43 t,648.56 333.�Q 322.Ot t0.99 t2,173.45 2.145.55 $5,326.55 Jun 44 1,326.55 333.00 324.16 8.84 12,497.67 2,154.39 57,002.39 Jul 45 1,002.39 333 00 326.32 6.68 12,823.93 2,761.07 §676.07 Aug 46 676.07 33300 328.49 4.57 73,152.42 2,765.58 $347.58 $ep 47 347.58 333.00 330.68 2.32 13,483.t0 2,167.90 516.90 OCI 48 16.90 77.01 16.90 0.11 13,500.00 p,168.01 ($0.00) (400Dalepurohuerev) Page 5 of 5 � Return copy to: Real Fstate Division 140 City Hall OR�G(NAL Presented By Referred To CITY OF Committee: Date WHEREAS, representatives of Holiday, on behalf of Cedaz Falls Oil Company, owners of a former Clark stauon located at 400 North Dale Sueet, approached the City with an offer to sell the properiy;and WHEREAS, although no City department expressed an interest in the property, Ramsey Acuon Programs which conducts a Head Start program on property it leases from the City adjacent to 400 North Dale, needs the additional space to facilitate its operauons at that location; and WHEREAS, the owners have agreed to sell the property to the City for the $17,500 appraised value with terms of the sale consisting of $4,000 down and a$13,500 mortgage; and 9 WHEREAS, the Department of Planning and Economic Development has approved a Community io Development Block Grant for the $2Q000 cost of demolition; and i6 i i WAEREAS, Ramsey Acuon Programs has agreed, in return for adding the 400 North Dale property to �a the leased premises of I.ease Agreement FMS125, to make the $4,000 down payment and the $333 is monthly payments on the mortgage to Holiday, Inc. until the mortgage has been satisfied, and to ia reimburse the City, at $1,000 in each of the first 5 years and $5,000 in the sixth year, for $10,000 of the �s $20,000 cost of clearing the property; is THEREFORE BE IT RESOLVED, that the proper City officials aze hereby authorized and directed to i� purchase the 400 North Dale property; is BE IT FURTHER RESOLVED, that the proper City officials aze hereby authorized and directed to i9 amend L.ease Agreement FMS/25, adding the 400 North Da1e property to the leased premises in zo exchange for the $4,000 down payment and monthly payments of $333 on the mortgage, and zi reimbursement, over six years as described above, of $10,000. Requested by Department of: Technoloev & Manaeement Services � Form Approved by City Attomey I� e \ '��a _�!�� - � � � � . - rii � 1' %`� : � ,_, , . s�i��%s riii Councit EYIe # oc _ 3��j GreenSheet# Io�IgCZ RESOLUTION PAUL, MINNESOTA An n•�a by Mayor for Submission to Council B � ��c�.� J � \� Adopted by Council: Date ��, \� a«rn . Adoption Certified by Council Secretary .M.S./REAL ESTATE DIVI5ION Date: March 20, 2000 r n S eet Number: 104867 afac[ Persoa and Phone N r: 2 EPAR D ELq rl 4 Q1'Y COUNCIL L7 /' Dave Nelson 266-8850 1 1'PATTORNEY cL�uc i3ll6ETDII2ECPOR FFICEOFF7NANCSe1LSVCS ost be m Comid Agenda by: 3 ypg (OR ASSISTAN'P) 5 ESTA'A'E DIVISfON OTAL # OF SIGNATURE PAGES 1(CLIP ALL LOCATIONS FOR SIGNATURE) CTION REQUESTED: To authorize the purchase of the property at 400 North Dale Street and Addendum IV to Lease Agreement FMSl25 with Ramsey Action Programs to add the property to the leased premises with t}�e lessee providing the down payment and maldng mortgage payments and reimbursing half of the demolition costs. Ref: 1. Resolution for consideration; 2. Map showing current leased premises and subject property; 3. Copy of Addendum IV to Lease Agreement FMS/25 4. Copy of Purchase Agreement coNmlErmA7zoxs: nrrROVS (a) ox �cz (ic) ERSONAL SERVICE CONTRACTS M[JST ANSWER THE FOLLOWING: . Aas the person/Cmn ever worked mder a contractforthis deparlmeMY YES NO Y44NMNGCOMMISSiON A STAFF . Has this person/Srm ever been a City employee? YE5 NO CIVIL SERVICE COMMiSSiON . Does this person/Srm possess a skill notnorn�ally possessed by any YES NO curtent C�ty employee? CI8 COMMl'11'EE E lain all YES answers on a arate sheet and attach. UPPORTS WHICH COUNCIL BJECTIVE? OUNCIL WARD(S) 1 DISTRICT PLANIVING COUNCIL g NITIATING PROBLEM, ISSUE, OPPORTUNITY (Who, What, When, Where, Why?): The owner of subject property offered it for sale to the City. VANTAGESIFAPPROVED: Ramsey Action Prograins will have needed additional space to facilitate its Head Start program. ISADVANTAGES IF APPROVED: None �U?1�3 ��4 C2�i��' ISADVANTAGESIFNOTAPPROVED: ��t^�$` � �, ,�o�� Ramsey Action Programs will have insufficient space for its Head Start program. OTAL AMOUNT OF TRANSACTION: $1'J�SOO COST/REVENUE BUDGETED (CIRCLE ONE) YES NO ixc souxcE: Ramsey Acrion Programs AcTIVrr� ��x: INANCIAL INFORMATION: (EXPLAII� Ramsey Action Programs will provide down payment and will make all mortgage payments. In addition they will reimburse the City for half of the $20,000 already approved for demolition. � � � � I � � � I � �� _�. _ - - � � --- �, - � , = �e�) �� , W �� o M � ��is i ., �� , 2 �— i � E ;;-. .. . 9. i a�<� � 39.5 " I I � j ti 4 I 5 I'4' 13 �� I T -- � � f � Q � �„1 � ? 4 y ^�IC 17 18 �t MI 39.5 � �G�6nl "��1�K7�� t�2 � � �_ � - - - CD - � N � -- - r -�- - �- ;--�--, �- ; -�--� -, � � � � � i � i i , i � � I i i t � � i i � � i i � i I i , � � � � � � i t 1 � � t � � i � i i I LER ------� oo-3G� Department of Technologp and Management Services Real Estate Division A.DDENDUM IV to LEASE AGREEMENT FMS/25 WHEREAS, on March 1, 1979, the City entered into Lease Agreement PMS/25 (formerly PED/1) with Ramsey Action Programs, Inc. for the purpose of providing child development programs in a facility located at 586 Fulier; and WHEREAS, the Lessee has petitioned for the addition of property adjacent to the leased premises located at 400 North Dale Street and legally described as: Except the east 10 feet, the following: Lots 17 and Lot 18, Btock 10, Mackubin and MazshalP s Addition to St. Paul; and WHEREAS, the City has purchased the property from Holiday Companies for $17,500.00; and WHEREAS, the Lessee has agreed to make payments for the property on behalf of the City to Holiday Companies pay Holiday Companies; and WHEREAS, the City using Community Development Block Grant funds to clear the sfte for development in the amount of $20,000; and WHEREAS, the Lessee has agreed to reimburse the City for the site clearing cost in the amount of $10,000 based on the payment schedule contained in this addendum; NOW THE?2EFORE BE IT AGREED: that the following paragraph shall be appended to the said Lease Agreement FMS725: XXV Reimbursement for the Site Cleazing cost. For the purpose of reimbursing the City for $10,000 provided as a loan for site clearing cost Page 1 of 4 00 -1�h Lessee shall make the following payments, as rent: Ju�y i,2000 ..............................................................................si,000 luly1,2001 ..............................................................................� July1,2002 ...............................................'--............................$I, July1,2003 ..............................................................................$ July1,2004 ..............................................................................$ Juty1,2005 ..............................................................................$ XXVI Mortgaee Note Pavments To Holidav Com�anies on behalf of the City of Saint Paul Mortgage Amortizafion Key Figures ��p� MnualLOanPaymenis 53,9%00 LoanPrinc�patAmount 5t3.500.00 Monthty Payments E333.00 Mnual hteresl Ratn 8.00% Fterest in First Caiendar Year $578 22 Loan PenoC M Yeats d trterest Over Te�m of Loan $2,16].90 Base Vear of Loan 1999 Sum of AN Payments 515,657.90 Hase hMnN ot Laan Nov 8egmning Cumulstrve Cumula[ive Enaing Vear Month Pmt W Balanca Paymen[s Princ'ryal 1'iterest Pnncipal Marast Balance 5999 Fbv 1 $13,50000 5333.00 333.0 5000 E333W .00 513,16T00 Oec 2 13,16].00 33300 24522 8].78 57822 87.78 81?92778 2�00 Jan 3 12921]8 333.00 24685 8615 8250] 173.93 $12,67493 Feb 4 12,67493 333.00 2a850 8450 1,W35] 258.43 $12,426.43 Mar 5 12,<2643 333.00 25016 82.84 7323.73 3412] $12,176.21 Apr 6 12,116 27 333 00 251.82 81.18 1.575 55 422 45 $11.924.45 May ] 1192aA5 33300 253.50 7950 1.829.05 SOt95 SN6]095 Jun e 116�095 333.00 355.19 7].81 2,08424 579J6 511,-015.]6 Jul 9 N,41576 333.00 256.89 ]6.11 2.341.13 655.8] $11.158.eI q�g t0 1t 15887 333.00 258.61 7439 2,599.T4 73026 E10,90026 Sep ii 10.90026 33300 260.33 �2.67 2.860.07 8�2.93 E10,639.93 OG 12 10,639.93 33300 262.07 ]093 3,t22.14 8]3.86 510.3]].86 Nov 13 10,377.86 333.00 26381 6919 3.385.95 943.05 510,t14.05 Dec 14 10,11a05 333.00 265.57 6743 3,651.52 1.Ot0.<8 59,848.48 2001 Jan 15 9,848.48 333.00 26734 65.66 3,91886 t,076.14 $9,581.14 FeG i6 9,58114 33300 269.13 63.87 4.18]99 t,740.Ot $9,31201 Mar i] 9,31201 33300 270.92 620H 4.45891 1.202.09 59,04199 Apr 18 9,Oa109 33300 272.�3 6027 a.]31.64 1.262.36 38.16836 May 19 B,i6836 333.00 2P4.54 SBd6 5,W6t8 1.32082 58493.82 Jun 20 8,49382 333.00 176.3� 5663 5.28255 1,3]].45 b8.217.45 JW 21 8,21]45 33300 27822 54]8 5,56077 t,43223 57.93923 Aug 22 7,939 23 333 00 280 0] 52 93 5.840 84 1.485.16 S1.659.16 Sep 23 ],659.16 33300 28194 5106 6.12278 1,53622 $73]]22 Od 24 ],37�22 333.00 263.82 4918 6,406.60 1.5854� $7,093.40 Nov 25 ] 093 40 333 00 285.71 4� 29 6,692 31 1,632.69 $6,807.69 Dec 26 6,80].69 333.00 28762 4538 6.W993 5,678.0] 36,520.O1 2002 Jan 2] 6,5200] 33300 28953 <34] 7,269.46 1,]21.54 $6.23054 Fetl 28 6,2J0.54 33300 291 46 4M1 54 7,560.92 t,76308 $5,93908 Ma� 29 5,93908 333.00 293.d1 3959 7,854.33 1,80267 $5.6456] Apr 30 5,6456I 333.00 29536 3Z64 8J4969 1,840.31 $5.350.31 May 31 5,35031 33300 297.33 3567 8.44702 18]5.98 55.052.98 .Fm 32 5,052.98 333 00 299 31 33 69 8.746.33 1,9�9,67 54.]53 67 .NI 33 4,753.6] 33300 301.31 3169 9,047.64 1.941.36 54.452.36 A�g 34 4,45236 333.00 303.32 29.68 9.35096 1,971,04 54.14904 Sep 35 4,14904 33300 3�5.3d 2766 9.65630 1,998.70 33,843.70 Oct 36 3,84370 33300 30]38 2562 9.%368 2,024,32 53,536.32 Nov 3� 3.53632 33300 309.42 2358 10,2I3.t0 2,047.90 53,22690 Dec 38 3,22690 33300 31t 49 2151 10,58459 2.069,4t E2,9154t 2003 .)an 39 2 915 41 333 00 313.56 t9.a4 10,fl9815 2 088 85 52.601 85 Fep d0 2.60185 33300 31565 1]35 11,213.80 2,10620 $2,28620 Ma� 4l 228620 333,00 31776 1524 1153t56 2,/2144 Si.96844 Apr d2 1 968 44 333 00 319 88 13 12 11 851 44 2.134.56 31.648 56 May 43 t.6d856 33300 322.01 1099 12,1]345 2,145.55 51.32655 bn 44 t,32655 333.00 324.16 8-Ba 12,d97.61 2,15439 81,002.39 Jul 45 1.002 39 333 00 326 32 6 68 12.823 93 2,161p7 5676 0] Aug 46 6]6.0� 33300 32849 A51 13,152.42 2,165.58 534758 Sep 4] 34].58 33300 330.68 232 13,483.10 2.167.90 316.90 Ocl -08 1690 t70t 16.90 011 13,SOD00 2A6801 (50��) Page 2 of 4 00 -36� For the purgose of making mortgage payments on behalf of the City. Mortgage amount $13,500.00; Monthly payments of $333; Interest rate of 8% annuai; 1�` payment due at ciosing, results in a mortgage balance at the time of closing of $13,167.00. At the closing, RAP shail pay the $4,000 downpayment, plus the 1n payment of $333.00 towazd the mortgage. Payments shall be made by RAP to Holiday Companies at 4567 West 80'" Street, P.O. Box 1224, Minneapolis, MN 5544Q. 2. That all other terms and conditions of Lease Agreement FMS/25, including all previous amendments and addenda, shall remain in fuil force and effect. 3. No prepayment pentality will be assessed in the event RAP elects to prepay either the XXV Reimbursement for the Site Cleazing Cost or the XXVI Mortgage Note Payments To Holiday Companies on behalf of the City of Saint Paui. Page 3 of 4 00 -3�Z IN WITNESS VJF3EREOF, the parties hereto have set their hands and seals on the date indicated: FOR THE CITY: Mayor City Clerk Director of Pinancial Services FOR THE LESSEE: 1��: Date Date U ��/2 ��/� Ramsey Action Programs Date (FMS25ad4rev) Page 4 of 4 ofl -�c� Department of Technology and Management Services Rea1 Estate Division 140 City Hall Phone: (651) 266-8850 Saint Paul, MN 55102 Fc�.• (651) 266-8855 CITY OF SAINT PAUL Norm Coleman, Mayor PURCHASE AGREEMENT October 8, 1999 �� 7 "'�i RFA[ FsrqrEOivisio Seller: Holiday Companies c!o Mr. David D. Heschen, Director of Real Estate 4567 West 80`� Street PO Box 1224 Minneapolis, MiV 55440 Buyer: City of Saint Paul Real Estate Divsion c!o Dave Nelson, Real Estate Manager 140 City Hall Saint Paul, NIN 55102 Mortgage Payee: Ramsey Action Programs c/o Mr. Morris Manning, Headstart Director 450 Syndicate Street Saint Paul MN 55104 1 Agreed upon Sale Price of $17,500.00, for the property located at 400 North Dale Street and legally described as Except the east 10 feet, the following: Lots 17 and Lot 18, Block 10, Mackubin and Mazshall's Addition to St. Paul 3 The Seller will provide financing for the uansaction under the following terms: 3.1 � The Buyer shall receive at the closing a Warranty Deed from the Seller. The Mortgage Payee shall provide at the closing a down payment in the amount of $4,000.00. 3.2 The Buyer will provide a note to the Seller in the amount of $13,500.00. Page 1 of 5 00 -5�7 3.3 The note will bear an interest rate of 8% annually. 3.4 The Mortgage Payee will make monthly payments of $330.0� per month until the note is paid. The first month payment will be due at the closing. See Exhibit A- Payment Schedule 3.5 1�` payment due at closing, results in a mortgage balance at the time of closing of $13,167.00. At the closing, RAP shall pay the $4,000 downpayment, plus the l�' payment of $333.�0 toward the mortgage. 4. The sale must be approved by the Ciry Council, along with approval of an Addendum IV to Lease Agreement FMS/25 between the City of Saint Paul and Ramsey Action Programs (RAP). Mortgage Payee shall pay the prorated amount of the 1999 Real Estate tases as of the date of closing. 6. In the event, Real Estate Taxes aze levied in the year 2000, the Mortgagee Payee shall be responsible for the payment of the said taxes and assessments on behalf of the Buyer. The Buyer will be responsible for the removal and the cost of the existing site improvements. The Mortgagee Payee shall reimburse the Buyer in the amount of $10,000.00 as shown Addendum IV to Lease Agreement FMS125. 8. Seller shall pay all assessments levied against the properiy as of the date of closing. 9. Seller shall provide the Buyer with proof of payment of taaces, assessments and liens. Any taxes, assessments and liens not paid as of the date of closing, will be withheld from the purchase price. 10. Seller shall provide the Buyer, within seven days of signing this Purchase Agreement, an updated Abstract of Title andJor an Owner's Certificate of Title. Seller agrees, at Sellers's cost and expense, to correct or remove any exception or "clouds" on the title as shown on the Buyer s"Commitment to Insure" title examination report. 1 I. Seller shall provide an affidavit on the date of closing, indicating that the Seller has not used or permitted the use of the subject p*operiy as a ka�ar�?ous waste disposal facility as defined in section 115A.03 Subd. 10 of Chapter 121 of the Laws of Minnesota of 1983, and that there is no basis to conclude that this property has been subject to or contaminated by the release of any hazardous substance, hazardous waste, pollutants of contaminants as defined in Section 115B.02 of the Minnesota Statutes. Page 2 of 5 D 0 -3�� 12. All warranties and representations made in this Purchase Agreement shall survive the closing and the conveyance of title to the properry. This Purchase Agreement and all obligations provided shall, to the extent not fuily satisfied and performed by or through the Closing, survive the closing and the conveyance of title to the properiy. 13. No prepayment pentality will be assessed in the event RAP elects to prepay either the XXV Reunbursement for the Site Clearing Cost or the XXVI Mortgage Note Payments To Holiday Companies on behalf of the City of Saint Paul. Page 3 of 5 00 —5c.� IN WITNESS WAEREOF, the parties hereto have set their hands and seais on the date indicated: Seller: : Holiday Companies, Director of Real Estate Date: Buyer: � City of Saint Paul, Real Estate Manager Date: Mortgagee Payee: B /��e-�v �-e Ramsey Action Programs Date: _ l�! ZZ/ (/ - Page 4 of 5 bo-��? Exhibit A - Payment Schedule Mortgage Amortization Key Fyures lnputs Mnual Loan Payments 53,996.00 Loan Principai Mwunt 513,500.00 Moni�lyPayments g333.00 MnuallnterestRate 8.00% Interest in First Calendar Year E57822 Loan Period in Years 4 Nterest OverTerm of Loan 82,767.90 Base Year of Loan 1999 Sum oflill Payments $15,667.90 Base Month of Loan Nov Beginning Cumulative Cumulative Entling Year Month Pmt No. Balance Payments Principal Nterest Principal Interest Balance 7999 Nov 1 513,500.00 $333.00 5333.00 50.00 §333.00 $0.00 513,767.00 Oec 2 73,167.00 333.00 24522 87.78 57822 87.78 512.927.78 2000 Jan 3 12,921.78 333.00 246.85 86.15 825.07 773.93 $12,674.93 Feb 4 72,674.93 333.00 248.50 64.50 1,073.57 258.43 $72,426.43 Mar 5 72,426.43 333.00 250.16 82.84 7,323.73 347.27 372,77627 Apr 6 72,17627 333.00 251.82 81.18 1,575.55 422.45 Sii,924.45 May 7 71,924.45 333.00 253.50 79.50 t,ffi9.05 501.95 &11,670.95 Jun 6 71,670,95 333.00 255.t9 77.87 2,08424 579.76 $1t,4t5.76 Jul 9 17,415.76 333.00 256.69 76.71 2,341.73 655.87 $71,158.87 Aug 70 77,158.87 33300 258.61 74.39 2,599.74 73026 $10,90026 Sep 77 10.90026 333.00 260.33 72.67 2,860.07 602.93 $10,639.93 OCt 12 t0.639.93 333.0� 262.07 70.93 3,t22.t4 873.86 $10,377.86 Nov 73 10.377.86 333.00 263.87 69.19 3,385.95 943.05 $70,714.05 Dec t4 70,714.05 333.00 265.57 67.43 3,657.52 1,070.48 $9,848.48 2001 Jan t5 9,848.48 333.00 2fi7.34 65.66 3,916.86 t,076.14 $9,581.74 Feb 56 9,58},}q 333.00 269.t9 63,57 4,�87.99 1,S40.Ot 59,352.05 Mar 77 9,372.01 333,00 270.92 62.08 4,458.91 7,202.09 $9,041.09 Apr 18 9,047 09 333.00 272.73 6027 4,731.64 1,262.36 $8,768.36 May 19 8.768.36 333.00 274.54 58.46 5,OO6.t8 t,320.e2 $6,493.82 Jun 20 8,493.82 333.00 276.37 56.63 5,282.55 t,377.45 $8,217.45 Jul 21 8.277.45 333.00 27822 54.78 5,560.77 1,432.23 $7,93923 A�g 22 7,939.23 333.00 280.07 52.93 5,840.84 1,465.16 $7,659.76 Sep 23 7.659.16 333.00 281.94 57.06 6,t22.78 7,53622 $7,37722 Oci 24 7,J7722 333.00 283.82 49.18 6,406.60 1,585.40 $7,093.40 Nov 25 7,093.40 333.00 285.77 4729 6,692.3t 7,632.69 $6,807.69 Dec 26 6.807.69 333.00 287.62 45.38 6,979.93 7,678.07 $6,520.07 2002 Jan 27 6.520 07 333.00 289.53 43.47 7,269.46 7,727.54 $6,230.54 Feb 28 6.230.54 333.00 291.46 47.54 7,560.92 7,763.08 $5,939.08 Mar 29 5,939.08 333.00 293.41 39.59 7,854.33 7,802.67 55,645.67 Apr 30 5,64567 333.00 295.36 3764 6,149.69 7,840.37 $5,350.31 May 31 5.350 31 333.00 297.33 35.67 8.447.02 1,875.98 85,052.98 Jun 32 5.052.98 333.00 299.31 33.69 8,746.33 7,909.67 $4,753.67 Jul 33 4,753.67 333.00 301.31 31.69 9,0<7.@4 7,941.36 $4 a52.36 Aug 34 4,452.36 333 00 303.32 29.68 9,350 96 �,9)1,04 $4,149.04 Sep 35 4,74904 333.00 30534 27.66 9,656.30 7,998.70 $3,84370 OCt 36 3,843.70 333.00 307.38 25.62 9,963.68 2,024.32 $3,536.32 Nov 37 3,536.32 333.00 309.42 23.58 70,273.10 2,047.90 $3,226.90 Dec 38 3.226.90 333 00 311.49 21.51 10,584.59 2,069.47 $2,915.47 2003 Jan 39 2.915.41 333.00 31356 79.44 t0,898.t5 y,088.fl5 $2,60t.85 Feb 40 2,601.85 333.00 315.65 77.35 7'1,273.80 y,706.20 $2,286.20 Mar 41 2.26620 333.00 317.76 15.24 71,537.56 2,727.44 $1,968.44 Apf 42 1,96844 333.00 319.86 13.12 17,857.44 2J34.56 $7,65856 May 43 t,648.56 333.�Q 322.Ot t0.99 t2,173.45 2.145.55 $5,326.55 Jun 44 1,326.55 333.00 324.16 8.84 12,497.67 2,154.39 57,002.39 Jul 45 1,002.39 333 00 326.32 6.68 12,823.93 2,761.07 §676.07 Aug 46 676.07 33300 328.49 4.57 73,152.42 2,765.58 $347.58 $ep 47 347.58 333.00 330.68 2.32 13,483.t0 2,167.90 516.90 OCI 48 16.90 77.01 16.90 0.11 13,500.00 p,168.01 ($0.00) (400Dalepurohuerev) Page 5 of 5 � Return copy to: Real Fstate Division 140 City Hall OR�G(NAL Presented By Referred To CITY OF Committee: Date WHEREAS, representatives of Holiday, on behalf of Cedaz Falls Oil Company, owners of a former Clark stauon located at 400 North Dale Sueet, approached the City with an offer to sell the properiy;and WHEREAS, although no City department expressed an interest in the property, Ramsey Acuon Programs which conducts a Head Start program on property it leases from the City adjacent to 400 North Dale, needs the additional space to facilitate its operauons at that location; and WHEREAS, the owners have agreed to sell the property to the City for the $17,500 appraised value with terms of the sale consisting of $4,000 down and a$13,500 mortgage; and 9 WHEREAS, the Department of Planning and Economic Development has approved a Community io Development Block Grant for the $2Q000 cost of demolition; and i6 i i WAEREAS, Ramsey Acuon Programs has agreed, in return for adding the 400 North Dale property to �a the leased premises of I.ease Agreement FMS125, to make the $4,000 down payment and the $333 is monthly payments on the mortgage to Holiday, Inc. until the mortgage has been satisfied, and to ia reimburse the City, at $1,000 in each of the first 5 years and $5,000 in the sixth year, for $10,000 of the �s $20,000 cost of clearing the property; is THEREFORE BE IT RESOLVED, that the proper City officials aze hereby authorized and directed to i� purchase the 400 North Dale property; is BE IT FURTHER RESOLVED, that the proper City officials aze hereby authorized and directed to i9 amend L.ease Agreement FMS/25, adding the 400 North Da1e property to the leased premises in zo exchange for the $4,000 down payment and monthly payments of $333 on the mortgage, and zi reimbursement, over six years as described above, of $10,000. Requested by Department of: Technoloev & Manaeement Services � Form Approved by City Attomey I� e \ '��a _�!�� - � � � � . - rii � 1' %`� : � ,_, , . s�i��%s riii Councit EYIe # oc _ 3��j GreenSheet# Io�IgCZ RESOLUTION PAUL, MINNESOTA An n•�a by Mayor for Submission to Council B � ��c�.� J � \� Adopted by Council: Date ��, \� a«rn . Adoption Certified by Council Secretary .M.S./REAL ESTATE DIVI5ION Date: March 20, 2000 r n S eet Number: 104867 afac[ Persoa and Phone N r: 2 EPAR D ELq rl 4 Q1'Y COUNCIL L7 /' Dave Nelson 266-8850 1 1'PATTORNEY cL�uc i3ll6ETDII2ECPOR FFICEOFF7NANCSe1LSVCS ost be m Comid Agenda by: 3 ypg (OR ASSISTAN'P) 5 ESTA'A'E DIVISfON OTAL # OF SIGNATURE PAGES 1(CLIP ALL LOCATIONS FOR SIGNATURE) CTION REQUESTED: To authorize the purchase of the property at 400 North Dale Street and Addendum IV to Lease Agreement FMSl25 with Ramsey Action Programs to add the property to the leased premises with t}�e lessee providing the down payment and maldng mortgage payments and reimbursing half of the demolition costs. Ref: 1. Resolution for consideration; 2. Map showing current leased premises and subject property; 3. Copy of Addendum IV to Lease Agreement FMS/25 4. Copy of Purchase Agreement coNmlErmA7zoxs: nrrROVS (a) ox �cz (ic) ERSONAL SERVICE CONTRACTS M[JST ANSWER THE FOLLOWING: . Aas the person/Cmn ever worked mder a contractforthis deparlmeMY YES NO Y44NMNGCOMMISSiON A STAFF . Has this person/Srm ever been a City employee? YE5 NO CIVIL SERVICE COMMiSSiON . Does this person/Srm possess a skill notnorn�ally possessed by any YES NO curtent C�ty employee? CI8 COMMl'11'EE E lain all YES answers on a arate sheet and attach. UPPORTS WHICH COUNCIL BJECTIVE? OUNCIL WARD(S) 1 DISTRICT PLANIVING COUNCIL g NITIATING PROBLEM, ISSUE, OPPORTUNITY (Who, What, When, Where, Why?): The owner of subject property offered it for sale to the City. VANTAGESIFAPPROVED: Ramsey Action Prograins will have needed additional space to facilitate its Head Start program. ISADVANTAGES IF APPROVED: None �U?1�3 ��4 C2�i��' ISADVANTAGESIFNOTAPPROVED: ��t^�$` � �, ,�o�� Ramsey Action Programs will have insufficient space for its Head Start program. OTAL AMOUNT OF TRANSACTION: $1'J�SOO COST/REVENUE BUDGETED (CIRCLE ONE) YES NO ixc souxcE: Ramsey Acrion Programs AcTIVrr� ��x: INANCIAL INFORMATION: (EXPLAII� Ramsey Action Programs will provide down payment and will make all mortgage payments. In addition they will reimburse the City for half of the $20,000 already approved for demolition. � � � � I � � � I � �� _�. _ - - � � --- �, - � , = �e�) �� , W �� o M � ��is i ., �� , 2 �— i � E ;;-. .. . 9. i a�<� � 39.5 " I I � j ti 4 I 5 I'4' 13 �� I T -- � � f � Q � �„1 � ? 4 y ^�IC 17 18 �t MI 39.5 � �G�6nl "��1�K7�� t�2 � � �_ � - - - CD - � N � -- - r -�- - �- ;--�--, �- ; -�--� -, � � � � � i � i i , i � � I i i t � � i i � � i i � i I i , � � � � � � i t 1 � � t � � i � i i I LER ------� oo-3G� Department of Technologp and Management Services Real Estate Division A.DDENDUM IV to LEASE AGREEMENT FMS/25 WHEREAS, on March 1, 1979, the City entered into Lease Agreement PMS/25 (formerly PED/1) with Ramsey Action Programs, Inc. for the purpose of providing child development programs in a facility located at 586 Fulier; and WHEREAS, the Lessee has petitioned for the addition of property adjacent to the leased premises located at 400 North Dale Street and legally described as: Except the east 10 feet, the following: Lots 17 and Lot 18, Btock 10, Mackubin and MazshalP s Addition to St. Paul; and WHEREAS, the City has purchased the property from Holiday Companies for $17,500.00; and WHEREAS, the Lessee has agreed to make payments for the property on behalf of the City to Holiday Companies pay Holiday Companies; and WHEREAS, the City using Community Development Block Grant funds to clear the sfte for development in the amount of $20,000; and WHEREAS, the Lessee has agreed to reimburse the City for the site clearing cost in the amount of $10,000 based on the payment schedule contained in this addendum; NOW THE?2EFORE BE IT AGREED: that the following paragraph shall be appended to the said Lease Agreement FMS725: XXV Reimbursement for the Site Cleazing cost. For the purpose of reimbursing the City for $10,000 provided as a loan for site clearing cost Page 1 of 4 00 -1�h Lessee shall make the following payments, as rent: Ju�y i,2000 ..............................................................................si,000 luly1,2001 ..............................................................................� July1,2002 ...............................................'--............................$I, July1,2003 ..............................................................................$ July1,2004 ..............................................................................$ Juty1,2005 ..............................................................................$ XXVI Mortgaee Note Pavments To Holidav Com�anies on behalf of the City of Saint Paul Mortgage Amortizafion Key Figures ��p� MnualLOanPaymenis 53,9%00 LoanPrinc�patAmount 5t3.500.00 Monthty Payments E333.00 Mnual hteresl Ratn 8.00% Fterest in First Caiendar Year $578 22 Loan PenoC M Yeats d trterest Over Te�m of Loan $2,16].90 Base Vear of Loan 1999 Sum of AN Payments 515,657.90 Hase hMnN ot Laan Nov 8egmning Cumulstrve Cumula[ive Enaing Vear Month Pmt W Balanca Paymen[s Princ'ryal 1'iterest Pnncipal Marast Balance 5999 Fbv 1 $13,50000 5333.00 333.0 5000 E333W .00 513,16T00 Oec 2 13,16].00 33300 24522 8].78 57822 87.78 81?92778 2�00 Jan 3 12921]8 333.00 24685 8615 8250] 173.93 $12,67493 Feb 4 12,67493 333.00 2a850 8450 1,W35] 258.43 $12,426.43 Mar 5 12,<2643 333.00 25016 82.84 7323.73 3412] $12,176.21 Apr 6 12,116 27 333 00 251.82 81.18 1.575 55 422 45 $11.924.45 May ] 1192aA5 33300 253.50 7950 1.829.05 SOt95 SN6]095 Jun e 116�095 333.00 355.19 7].81 2,08424 579J6 511,-015.]6 Jul 9 N,41576 333.00 256.89 ]6.11 2.341.13 655.8] $11.158.eI q�g t0 1t 15887 333.00 258.61 7439 2,599.T4 73026 E10,90026 Sep ii 10.90026 33300 260.33 �2.67 2.860.07 8�2.93 E10,639.93 OG 12 10,639.93 33300 262.07 ]093 3,t22.14 8]3.86 510.3]].86 Nov 13 10,377.86 333.00 26381 6919 3.385.95 943.05 510,t14.05 Dec 14 10,11a05 333.00 265.57 6743 3,651.52 1.Ot0.<8 59,848.48 2001 Jan 15 9,848.48 333.00 26734 65.66 3,91886 t,076.14 $9,581.14 FeG i6 9,58114 33300 269.13 63.87 4.18]99 t,740.Ot $9,31201 Mar i] 9,31201 33300 270.92 620H 4.45891 1.202.09 59,04199 Apr 18 9,Oa109 33300 272.�3 6027 a.]31.64 1.262.36 38.16836 May 19 B,i6836 333.00 2P4.54 SBd6 5,W6t8 1.32082 58493.82 Jun 20 8,49382 333.00 176.3� 5663 5.28255 1,3]].45 b8.217.45 JW 21 8,21]45 33300 27822 54]8 5,56077 t,43223 57.93923 Aug 22 7,939 23 333 00 280 0] 52 93 5.840 84 1.485.16 S1.659.16 Sep 23 ],659.16 33300 28194 5106 6.12278 1,53622 $73]]22 Od 24 ],37�22 333.00 263.82 4918 6,406.60 1.5854� $7,093.40 Nov 25 ] 093 40 333 00 285.71 4� 29 6,692 31 1,632.69 $6,807.69 Dec 26 6,80].69 333.00 28762 4538 6.W993 5,678.0] 36,520.O1 2002 Jan 2] 6,5200] 33300 28953 <34] 7,269.46 1,]21.54 $6.23054 Fetl 28 6,2J0.54 33300 291 46 4M1 54 7,560.92 t,76308 $5,93908 Ma� 29 5,93908 333.00 293.d1 3959 7,854.33 1,80267 $5.6456] Apr 30 5,6456I 333.00 29536 3Z64 8J4969 1,840.31 $5.350.31 May 31 5,35031 33300 297.33 3567 8.44702 18]5.98 55.052.98 .Fm 32 5,052.98 333 00 299 31 33 69 8.746.33 1,9�9,67 54.]53 67 .NI 33 4,753.6] 33300 301.31 3169 9,047.64 1.941.36 54.452.36 A�g 34 4,45236 333.00 303.32 29.68 9.35096 1,971,04 54.14904 Sep 35 4,14904 33300 3�5.3d 2766 9.65630 1,998.70 33,843.70 Oct 36 3,84370 33300 30]38 2562 9.%368 2,024,32 53,536.32 Nov 3� 3.53632 33300 309.42 2358 10,2I3.t0 2,047.90 53,22690 Dec 38 3,22690 33300 31t 49 2151 10,58459 2.069,4t E2,9154t 2003 .)an 39 2 915 41 333 00 313.56 t9.a4 10,fl9815 2 088 85 52.601 85 Fep d0 2.60185 33300 31565 1]35 11,213.80 2,10620 $2,28620 Ma� 4l 228620 333,00 31776 1524 1153t56 2,/2144 Si.96844 Apr d2 1 968 44 333 00 319 88 13 12 11 851 44 2.134.56 31.648 56 May 43 t.6d856 33300 322.01 1099 12,1]345 2,145.55 51.32655 bn 44 t,32655 333.00 324.16 8-Ba 12,d97.61 2,15439 81,002.39 Jul 45 1.002 39 333 00 326 32 6 68 12.823 93 2,161p7 5676 0] Aug 46 6]6.0� 33300 32849 A51 13,152.42 2,165.58 534758 Sep 4] 34].58 33300 330.68 232 13,483.10 2.167.90 316.90 Ocl -08 1690 t70t 16.90 011 13,SOD00 2A6801 (50��) Page 2 of 4 00 -36� For the purgose of making mortgage payments on behalf of the City. Mortgage amount $13,500.00; Monthly payments of $333; Interest rate of 8% annuai; 1�` payment due at ciosing, results in a mortgage balance at the time of closing of $13,167.00. At the closing, RAP shail pay the $4,000 downpayment, plus the 1n payment of $333.00 towazd the mortgage. Payments shall be made by RAP to Holiday Companies at 4567 West 80'" Street, P.O. Box 1224, Minneapolis, MN 5544Q. 2. That all other terms and conditions of Lease Agreement FMS/25, including all previous amendments and addenda, shall remain in fuil force and effect. 3. No prepayment pentality will be assessed in the event RAP elects to prepay either the XXV Reimbursement for the Site Cleazing Cost or the XXVI Mortgage Note Payments To Holiday Companies on behalf of the City of Saint Paui. Page 3 of 4 00 -3�Z IN WITNESS VJF3EREOF, the parties hereto have set their hands and seals on the date indicated: FOR THE CITY: Mayor City Clerk Director of Pinancial Services FOR THE LESSEE: 1��: Date Date U ��/2 ��/� Ramsey Action Programs Date (FMS25ad4rev) Page 4 of 4 ofl -�c� Department of Technology and Management Services Rea1 Estate Division 140 City Hall Phone: (651) 266-8850 Saint Paul, MN 55102 Fc�.• (651) 266-8855 CITY OF SAINT PAUL Norm Coleman, Mayor PURCHASE AGREEMENT October 8, 1999 �� 7 "'�i RFA[ FsrqrEOivisio Seller: Holiday Companies c!o Mr. David D. Heschen, Director of Real Estate 4567 West 80`� Street PO Box 1224 Minneapolis, MiV 55440 Buyer: City of Saint Paul Real Estate Divsion c!o Dave Nelson, Real Estate Manager 140 City Hall Saint Paul, NIN 55102 Mortgage Payee: Ramsey Action Programs c/o Mr. Morris Manning, Headstart Director 450 Syndicate Street Saint Paul MN 55104 1 Agreed upon Sale Price of $17,500.00, for the property located at 400 North Dale Street and legally described as Except the east 10 feet, the following: Lots 17 and Lot 18, Block 10, Mackubin and Mazshall's Addition to St. Paul 3 The Seller will provide financing for the uansaction under the following terms: 3.1 � The Buyer shall receive at the closing a Warranty Deed from the Seller. The Mortgage Payee shall provide at the closing a down payment in the amount of $4,000.00. 3.2 The Buyer will provide a note to the Seller in the amount of $13,500.00. Page 1 of 5 00 -5�7 3.3 The note will bear an interest rate of 8% annually. 3.4 The Mortgage Payee will make monthly payments of $330.0� per month until the note is paid. The first month payment will be due at the closing. See Exhibit A- Payment Schedule 3.5 1�` payment due at closing, results in a mortgage balance at the time of closing of $13,167.00. At the closing, RAP shall pay the $4,000 downpayment, plus the l�' payment of $333.�0 toward the mortgage. 4. The sale must be approved by the Ciry Council, along with approval of an Addendum IV to Lease Agreement FMS/25 between the City of Saint Paul and Ramsey Action Programs (RAP). Mortgage Payee shall pay the prorated amount of the 1999 Real Estate tases as of the date of closing. 6. In the event, Real Estate Taxes aze levied in the year 2000, the Mortgagee Payee shall be responsible for the payment of the said taxes and assessments on behalf of the Buyer. The Buyer will be responsible for the removal and the cost of the existing site improvements. The Mortgagee Payee shall reimburse the Buyer in the amount of $10,000.00 as shown Addendum IV to Lease Agreement FMS125. 8. Seller shall pay all assessments levied against the properiy as of the date of closing. 9. Seller shall provide the Buyer with proof of payment of taaces, assessments and liens. Any taxes, assessments and liens not paid as of the date of closing, will be withheld from the purchase price. 10. Seller shall provide the Buyer, within seven days of signing this Purchase Agreement, an updated Abstract of Title andJor an Owner's Certificate of Title. Seller agrees, at Sellers's cost and expense, to correct or remove any exception or "clouds" on the title as shown on the Buyer s"Commitment to Insure" title examination report. 1 I. Seller shall provide an affidavit on the date of closing, indicating that the Seller has not used or permitted the use of the subject p*operiy as a ka�ar�?ous waste disposal facility as defined in section 115A.03 Subd. 10 of Chapter 121 of the Laws of Minnesota of 1983, and that there is no basis to conclude that this property has been subject to or contaminated by the release of any hazardous substance, hazardous waste, pollutants of contaminants as defined in Section 115B.02 of the Minnesota Statutes. Page 2 of 5 D 0 -3�� 12. All warranties and representations made in this Purchase Agreement shall survive the closing and the conveyance of title to the properry. This Purchase Agreement and all obligations provided shall, to the extent not fuily satisfied and performed by or through the Closing, survive the closing and the conveyance of title to the properiy. 13. No prepayment pentality will be assessed in the event RAP elects to prepay either the XXV Reunbursement for the Site Clearing Cost or the XXVI Mortgage Note Payments To Holiday Companies on behalf of the City of Saint Paul. Page 3 of 5 00 —5c.� IN WITNESS WAEREOF, the parties hereto have set their hands and seais on the date indicated: Seller: : Holiday Companies, Director of Real Estate Date: Buyer: � City of Saint Paul, Real Estate Manager Date: Mortgagee Payee: B /��e-�v �-e Ramsey Action Programs Date: _ l�! ZZ/ (/ - Page 4 of 5 bo-��? Exhibit A - Payment Schedule Mortgage Amortization Key Fyures lnputs Mnual Loan Payments 53,996.00 Loan Principai Mwunt 513,500.00 Moni�lyPayments g333.00 MnuallnterestRate 8.00% Interest in First Calendar Year E57822 Loan Period in Years 4 Nterest OverTerm of Loan 82,767.90 Base Year of Loan 1999 Sum oflill Payments $15,667.90 Base Month of Loan Nov Beginning Cumulative Cumulative Entling Year Month Pmt No. Balance Payments Principal Nterest Principal Interest Balance 7999 Nov 1 513,500.00 $333.00 5333.00 50.00 §333.00 $0.00 513,767.00 Oec 2 73,167.00 333.00 24522 87.78 57822 87.78 512.927.78 2000 Jan 3 12,921.78 333.00 246.85 86.15 825.07 773.93 $12,674.93 Feb 4 72,674.93 333.00 248.50 64.50 1,073.57 258.43 $72,426.43 Mar 5 72,426.43 333.00 250.16 82.84 7,323.73 347.27 372,77627 Apr 6 72,17627 333.00 251.82 81.18 1,575.55 422.45 Sii,924.45 May 7 71,924.45 333.00 253.50 79.50 t,ffi9.05 501.95 &11,670.95 Jun 6 71,670,95 333.00 255.t9 77.87 2,08424 579.76 $1t,4t5.76 Jul 9 17,415.76 333.00 256.69 76.71 2,341.73 655.87 $71,158.87 Aug 70 77,158.87 33300 258.61 74.39 2,599.74 73026 $10,90026 Sep 77 10.90026 333.00 260.33 72.67 2,860.07 602.93 $10,639.93 OCt 12 t0.639.93 333.0� 262.07 70.93 3,t22.t4 873.86 $10,377.86 Nov 73 10.377.86 333.00 263.87 69.19 3,385.95 943.05 $70,714.05 Dec t4 70,714.05 333.00 265.57 67.43 3,657.52 1,070.48 $9,848.48 2001 Jan t5 9,848.48 333.00 2fi7.34 65.66 3,916.86 t,076.14 $9,581.74 Feb 56 9,58},}q 333.00 269.t9 63,57 4,�87.99 1,S40.Ot 59,352.05 Mar 77 9,372.01 333,00 270.92 62.08 4,458.91 7,202.09 $9,041.09 Apr 18 9,047 09 333.00 272.73 6027 4,731.64 1,262.36 $8,768.36 May 19 8.768.36 333.00 274.54 58.46 5,OO6.t8 t,320.e2 $6,493.82 Jun 20 8,493.82 333.00 276.37 56.63 5,282.55 t,377.45 $8,217.45 Jul 21 8.277.45 333.00 27822 54.78 5,560.77 1,432.23 $7,93923 A�g 22 7,939.23 333.00 280.07 52.93 5,840.84 1,465.16 $7,659.76 Sep 23 7.659.16 333.00 281.94 57.06 6,t22.78 7,53622 $7,37722 Oci 24 7,J7722 333.00 283.82 49.18 6,406.60 1,585.40 $7,093.40 Nov 25 7,093.40 333.00 285.77 4729 6,692.3t 7,632.69 $6,807.69 Dec 26 6.807.69 333.00 287.62 45.38 6,979.93 7,678.07 $6,520.07 2002 Jan 27 6.520 07 333.00 289.53 43.47 7,269.46 7,727.54 $6,230.54 Feb 28 6.230.54 333.00 291.46 47.54 7,560.92 7,763.08 $5,939.08 Mar 29 5,939.08 333.00 293.41 39.59 7,854.33 7,802.67 55,645.67 Apr 30 5,64567 333.00 295.36 3764 6,149.69 7,840.37 $5,350.31 May 31 5.350 31 333.00 297.33 35.67 8.447.02 1,875.98 85,052.98 Jun 32 5.052.98 333.00 299.31 33.69 8,746.33 7,909.67 $4,753.67 Jul 33 4,753.67 333.00 301.31 31.69 9,0<7.@4 7,941.36 $4 a52.36 Aug 34 4,452.36 333 00 303.32 29.68 9,350 96 �,9)1,04 $4,149.04 Sep 35 4,74904 333.00 30534 27.66 9,656.30 7,998.70 $3,84370 OCt 36 3,843.70 333.00 307.38 25.62 9,963.68 2,024.32 $3,536.32 Nov 37 3,536.32 333.00 309.42 23.58 70,273.10 2,047.90 $3,226.90 Dec 38 3.226.90 333 00 311.49 21.51 10,584.59 2,069.47 $2,915.47 2003 Jan 39 2.915.41 333.00 31356 79.44 t0,898.t5 y,088.fl5 $2,60t.85 Feb 40 2,601.85 333.00 315.65 77.35 7'1,273.80 y,706.20 $2,286.20 Mar 41 2.26620 333.00 317.76 15.24 71,537.56 2,727.44 $1,968.44 Apf 42 1,96844 333.00 319.86 13.12 17,857.44 2J34.56 $7,65856 May 43 t,648.56 333.�Q 322.Ot t0.99 t2,173.45 2.145.55 $5,326.55 Jun 44 1,326.55 333.00 324.16 8.84 12,497.67 2,154.39 57,002.39 Jul 45 1,002.39 333 00 326.32 6.68 12,823.93 2,761.07 §676.07 Aug 46 676.07 33300 328.49 4.57 73,152.42 2,765.58 $347.58 $ep 47 347.58 333.00 330.68 2.32 13,483.t0 2,167.90 516.90 OCI 48 16.90 77.01 16.90 0.11 13,500.00 p,168.01 ($0.00) (400Dalepurohuerev) Page 5 of 5 �