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270624 N�HITE - CITV CLERK COl1I1CII PINK - FINANCE �� CANARV - DEPARTMENT G I TY OF SA I NT PAUL BLUE - MAYOR File NO. ��� ,�� HRA LEGAL DEPART a�ncil Resolution ., Presented By `.+ � Referred To Committee: Date Out of Committee By Date RESOLVED that the Letter of Understanding, Contract For Sale Of Land For Private Redeveiopment dated August 26, 1977, between the City of Saint Paul, Housing and Redevelopment Authority of the City of Saint Paul, Minnesota and Oxford Properties U.S. Ltd. , presented to and considered at this meeting is hereby approved, and the proper City officers are hereby authorized to execute the same on behalf of the City of Saint Paul. COUNCILMEN Requested by Department of: Yeas Na}�s Butler I�2Ar3.rt2CYP71t Of P�.aYlri7Ag & E�70riCRI1C DEV�2�.O�rit Hozza In Favor Hunt - Levine � __ Against BY , Roedler Sylvester Tedesco�� ��AQ 'L, ���$ Form Ap by City Attorney Adopted by„��uncil: Date _ IVU�� Certi d}Pass y Co ncil Secret�y BY � y Ap r v by Mayor: 3 �97$ Ap e y Mayor for Subm' s o to Council By BY Pus�.����� MAR 1 � ���8 ., i( ,, > � ' . 1 f, . � ��f����� � March 2, 1978 City of Saint Paul, Minnesota � Head of Department of Planning and Economic Development City Hall - 15 West Kellogg Boulevard Saint Paul, Minnesota 55102 _ Attention: Mr. Robert Hall Housing and Redevelopment Authority of the City of Saint Paul, Minnesota 601 Northwestern National Bank Building 55 East FiftYt Street Saint Paul, Minnesota 55101 Attention:. Mr. James Te Hart Re: LETTER OF UNDERSTANDING Contract for Sale of Land for_ Pr.ivate Redevelopment Dated August 16. 197? Gentlemen: Since the execution and delivery of. t�hat cer�ain Contxact for Sale of Land for Private Redevelopmen�t clatecl August 26, 1.977 (the ''Con'cract") , �� and between the CITY �P S.�.TNT PAUL, '_�'INNESOTA (the "City") , the HOUSING AND REDEVELOPriENT AIJTJiURITi� �r TFiE CITY - OF SAINT PAUL, MINNESOTA (the "Agency") , and OXFORD PROPER`PIES� U.S. LTD. (the "Redeveloper") , a number of chanyed factors suggest the need for flexibility in adjusting certain dates originally deemed realistic, or in waiving their applicai:i.an under the current circumstances as they relate to the Contract. Furtherp we feel it wi1Z be helpful to clarify portions of the Contract, and to add a point or two, in order to more accurate7_y reilec�. the intention of the parties. Accordingly, we believe it is approp�:iate a�. tYiis time to amend and modify our Contract with letter. canfirmata.on oi an understanding concerning certain terms and provisionso ar�d amend- ments thereto, af the Contract. Wher� re�er_enced, the iollowzng terms shall be controlling respecting the re�er_enced Contract sections or paragraphs: 1. As of the date hereof the parties mutually agree that all parties have undertaken performance of the Contract, that there are no defaults in any of the provisions or terms of the Contract, - and that all parties have substantially, faithfully and satisfactorily V : -�� .,.• • ., . � , Page Two - discharged their respective obl.igations in a dzligent mann�r to date. 2. Schedule "A" annexed to the Contr.act �s h�reby deleted and the Amended Schedule "A" annexed hereto shal:l be aclded zn its place. . 3. Section l is �mended to �elete anX reier_ence to portions , of vacated Seventh Street as it relates to the determin�.tion of the purchase price for Parcel A-3 and Parcel 27 . The purchase �rice for : Parcel A--3 shall be $219,199.50 and the purchas� price far Parcel 27 shall be $705,37Q.00. - : 4. With respect to Section 1, Sect�.or� 8 (i) and Section 103 (a) (Part II) , as they relate to the vacation a� �ever�th Street, it is understood by the parties that the Ag�ncy `aill. peti�iox� the City for the vacation of Seventh Street betwe�n Cedar and Minnesota Streets on or before March l5, 1978 , and th�t i;he Agency shall. use its best efforts and due diligence �to cornpl�t� the conclu.sion of said vacation proceeding as soon as reasonably possib�e.. Upon the conclus;ion of the vacation proceedings the �l�gency sha11 convey said .vacated Seventh Street to the Redevelaper�. l�edeve�.op�r sha11 simultaneously eonvey to the City those parts oi: �azcel A-3� vacated _ Seventh Street and Par.cel 27 to be occupied by t�he C�alleria at each - structural level as determined in the design dr.awings an�. i11us-- trated in that certain isometric drawing of Tawn 59uaxe Galleria on f ile in the office of the Agency on the date hereof� �hese identified conveyances shall be without adjusi:ment to 'che pu�chase price provided for in Section l,� it being agr_eed thaf. each identified conveyed portion is deemed of equa�. value xegard�.ess o� any difference in area or size. It i� further *T�,dcrstood that the Redev�l.oper may elect, as part of its devel.opmer�t program, f�o excavate Seventh Street, after said Seventh Street has been vacated. In that event, such excavation likely �aill reduce the cost of parking � rarip construction to be built under Parcel. A--3 ana adjoining property. In order to save construction costs in the r.oi7struction of said park?ng ramp, it is necessary that the vacat�.on ai Seventh �treet be cam�letec? in a time sufficient to save C05�S oi construction. of the parking ramp. Accordingly, the Agency �.gr.c�e� t�a u�e its best efforts in vacating said 5eventh Street as soan as possibls, and, to the extent legally possible, and necessary, wa1�. cooperate with • Redeveloper in obtaining access to Seventh Si=i:eef�� eve» a_f b�fore � vacation, in order to excavate said Seventh Strect in the event public and private construction timetables sa r..equi:re. �he conveX- ance of the Galleria and Seventh Street tracts shal�. pravide for mutual easements for support and access and shall be subject ta reservation of easements in the resolution for the vacation of � Seventh Street; further, the r.equirements of the Contract, as they - ��- _ relate to the conveyance of title by the Agency to Redevel.oper and the issuance of a title insurance conunitment which sha11 insur� �.he Redeveloper as the owner, shall be applicable to the conveyance of vacated Seventh Street by the Agency to the Redeveloper. 5. Section 2 (a) (1) is hereby deleted. . v. ._ �.;.��.:�:.�..�,.,.,.� ,.. . �.�.,....�..,:..,��:.�� ..._..:._. ..�..�.. __ .. ....; . _ _ �.�.�...,.:,...... ,. : _ ����f .(, . . ��:� �Page Three - 6. Section 2 (b) is amended to provide that closing shall be held on March 2, 1978 , or, as a matter of convenience to the . parties, on one of the next few business days there�fter which is mutually acceptable. _ - " . . . 7. Section 2 (d) is amended to provide that the Redeveloper shall order the commitment for an owner's po�icy af tztl.e insurance. � However, the cost, if any, of such commitment �s� �xcess o� $1Q.00 shall be borne by the Redeveloper. 8. With respect to Section 3 (b) (1) , �he parties acknow- ledge, first, that design development drawings have heretofore : been timely submitted by the Redeveloper and approved b� the Agency in accordance with resolution hereto attached a� Schedul.e 1, and� hence, that the condition precedent related there�a has been satisfied notwithstanding the qualified approval as se�. forth. in said resolution; further, the submittal of canstxuc'�ion�. plans sha11 not be a condition precedent to the closing (i .et , to the obligat�ion � of the Agency to convey the Property) , the parti.es havinq recog-- nized that (a) the Redeveloper will be constructing the Tmprove-- rients under the "fast track" method, with pl�ns iox� each separate work phase to be submitted and approved prior to construction of that phase, and (b) said method is necessitated 3�X the intezrela�- . i�ionship (and interdependence) of such phases o� s�ar�C a� oth.er�, including the inability of Redeveloper to complete .foundation. drawings for the site until completion of demoliLione 9. With respect to Section 3 (b) (2) , it �s understood, sui�j ect to provisions of the United States Freedom a� �[n�o�nation Act and State of Minnesota Public Records Law, �.hat the comznit� mznts a:�d reiat�d ir:Form�tian to be submitted by Redevel.oper shall be treated _as private da�a to the fullest extent permitt�d under said acts,. to, lie released only with th� pez�tissa.on of the Redeveloper. The parties further acknowledge that .thE commitmen� . for permanent f inancing has heretofore been timely subznitted by the Redeveloper ;(although the timing of subn.ittal affected the co::�pletion af demolitian) and approved by the Agency and, hence, t?�at the condition �recedent related thereto has beex� satisfied. The parties further acknowledge that the submission of a commitment or commitments for interim financing for tY�e constructioz� of the Improvements shall' not be a condition precedent to the closing. _ " " `-- 10. With respect to Section 3 (b) (3) , it is understood - a*_:d agreed that a . number of banks have expressed strong interest in providing interim financing, particularly �rzth the permanent financing commitment having been obtained. Therefore, the parties believe there should be no difficulty in meeting �he requ�rement of _ Section 3 (b) (3) ; further the parties agree that th2 requirement that satisfactory evidence be submitted to the Agency that i.nterim mortgage loan or loans will be initially closed wa.thin ;he time fixed under Section 4 for commencement of construction shall be satisfied by the Redeveloper in relation to each separate aonstruction phase of the Improvements, consistent with the foregoing understanding that the Redeveloper is using the "fast track" method. � _ - - . �:.�_ - - _ : _ ,.�.._. . . . ..,. ....:y;�.s...,...._ -.- �<�._ ...: _ ....._. ...._. �_ _.._._.�....�..... - — - -- - .w�. .�� .:"� , �� ., � , � `����`�'� Page Four - 'll. With respect to Sectior� 3{b) (4) , this requiremen� shall not be deemed a condition precedent to the closing becanse ' the "fast track" method of construction, �nentioned in paragraph 8 of this letter, precludes submittal of. contract dra�ts for ` construction of all Improvements before the closa_ng.. However� the Redeveloper will submit to the Agency on oa� before �he �los�.ng a standard form construction contract of the ka.nd �o be used relative to construction of the Improvements by the x�edevelope�c. Further, Redeveloper will submit a copy to �.he Agency of each actual construction contract covering a separate pl�ase of the Improvements (and awarded by Redeveloper) hei'ore any work is � � begun thereunder. 12. The requirements of Section 3 (b) (5) shall not be � a condition precedent to the closing, but such rea,uirements sha1� _ be satisfied by the Redeveloper in relata�on to each se�.-�.�rate con- struction phas� ;of the Improvements by° subm.�.�sion of �he requirec� � . - commitraent for Bond or Bonds prior ta c:omm�nreri�cnt o� coaas�ru.��ion of each such phase. . 13o With respect to Section 3 (c) , a�-� is agreed �hat Redeveloper will pay the� bal.ance of th� puxchase price strictl.y. ; in cash and Agency will �not ca11 the letter o� c:cedit eurrently held, but will return the s�.me at clas�.rig u�an �_eceipt �� said final cash payment. - 14. With respect to Section 4� �i� �.s understood �hat the : Seventh Street Galleria will be located at various Zevels in and over Parcel A-3, Parcel 27 and v�cated Seventh Street. 15. With respect to Section 5 (a} � the parties acYnovr- � ledge that design development drawings (f�na7. d�sign plansj have ' hereto€ore been timely submitted by the Redeveloper and approved by the Agency, subject to the qualifications set �orth in paragraph Z of Schedule 1 attached hereto, which quali�icai�a.ons� however, do not change the parties agreement that the Redevelo�,�er has satisfactozzly complied with the requirements of Section 5 (a) a.n a �ianely manner; � further, a11 construction plans for the �mprovements shal,l be sub� mitted by the Redeveloper for the Agency approv�l only on a �hase by phase basis, c.onsistent with the foregoara�g understanding that the _ Redeveloper is using the "fast track" method. 16. With respect to Section S (b) , the parties acknow- ledge that the Redeveloper has submitted to the Aqency a satis- _ f actory development entity and financing statement and supporting documentation and-, hence, the condition precedent related thereto has been satisfied; further, as noted in par.agraph 9 . abo�e, the parties acknowledge that the commitment for. permanent fi.nancing has . been timely submitted by Redeveloper and approved by Agency and that the requirement of the submission of a comma.iment or commitments for interim financing prior to closing has been waived; however� because said permanent financing commitment has only recentl� =been furnished, the deriolition to be made on Parcel 27 by i:he 73.gencyr and the delivery of possession thereof, may not �be completed or transferred on or before closing. _ . ___.--, _- - _ ._�_ � _._ . ---: . - ---,:: .. . __.�.��-..W...w........_�W..__.._...._.._._.......:.......n.:.�.,..�...�.-�,.��...�;-._e, ..,.:..:...:.wr.....:.+.�..,�.�.o....�,+...sw�a.-�.wwe.w.W:.�.w.�e�...w,....,W..- . . , -.:�._.:._.��ar.n ..:_.°a� '."`�1 . c--- ..». .._..,,.:.:.........:��..w��w.... �.._— ay�wv. . - ,.i�. - Page �ive - 17 . With respect to Section 5 (c) , the parties acknow- ledr,e that the parking ramp construction will be commenced in the . first six months of 1978; further, the parties acknowledge that � Redeveloper has �imely submitted necessary design determa.nat3.ons for the Improvements in Parcel A-3 to permit completion of the _ parking ramp design and, hence, the Redeveloper's obl.i.gation related-thereto has been satisfied. 18. �•lith respect to Section 5 (d) tl) , the �arties acY.now- � ledge :that the Galleria will be partially located ix� and over � vacated Seventh Street, Parcel A-3 and Parcel 27, and �.hat the ` :Galleria design development drawings have been timely submi�ted by the City and approved by the Redeveloper. The date for ��_nal Ca.ty approyal of Galleria design development drawing shall be I�J.a� �., 1978,' subject to the Downtown People Mover determinations referr.ed to in Section 5 (e} (2) . With respect to the subm�ission to tl�e Redeveloper of Galleria construction plans, the�e sh:al�. h� comp�.et:ecl and submitted for review in accordance with Sect�orz 5 �a} , as amended _ _ _ hereby relative to the use of the "fast track" method of cons�Lruc� tion. - --- ._. --------_ 19. With respect to Section 5 (d) (2) , the parties � �- -� acknowledge tha�. the inGreased cost amount re�:atzve to oversi,zed footings and column support has heretofore been time�� �.eterminea by mutual agreement between the City and Redevel.opero and that the Redeveloper has met the requirement of said. 5ubsection 5 (d) (?_) to subr.eit a construction cost estimate of increased cost accas�.onec� by oversized footings, columns and installations. � � 20. With respect to Section 5(e) (2) , the parties ac�:now- ledge that the design 3euelopment drawings �ubm�i�.ted �o �;.�.e 7�genc�• hav�e been time�.y submitted and satisfactorily can�ain d�sa_gn pro-- : vision for the Downtown People Mover consistent with the Seventh Place Station design. " . _.. � _.___. . .. _ _ . __ 21. `With respect to Section 5(�) (3} � �hA �ar�=ies �gre� ' that the obligation of the City to commence construct�on af t:he Galleria shall be further conditioned upon commencement o� constaruc- tion by the Redeveloper of Impravements in Construction Area Two A, identified in the document entitled Sequence of Initia7, �pera�[:ions, dated January 4 , 1'978, prepared by PooZe Constructior� Lizn.�tec� on �ile in the office of the Agency on the date hereof, anc� subj�c:i: �o any enforced delays under Part TI, Section 707, as may acaur in commencement of construction of Improvements by the Redev�laper.- - 22. Schedule "B" annexed to the Contraet shal�. be ' �-"--��� - amended in the following sections and in the followi.ng manner: - _ � a. The Parcel 27 Improvements listed in paragraph � l(c) and the Parcel A-3 Improvements �isted a.n � paragraph l, both in Division I, are hereby _ amended to require construction of two levels of retail-commercial space rather than three�. . . �;E� . � . +` � Page Six - • b. Reference to three levels of retai�-commexcial space in Division II is amended to refleet the construction of two levels of retaz�-commex-cial _ . space on Parcel �A-3 and Parcel 27. , 23, With respect to Schedule "C" annexed to 4he Contract, and paragraph E2(a) {1) and (2) pertaining ta the pedestrian cancourse facility to be provided through Block 27, it i.s understood that the location and hours of operation of the easement and said concourse facility shall ;�e subject to the approval of Donaldson°s, as lessee . of the Redeveloper who will occupy a portion of_ said B�ock 27. 24 . With �respect to. .par�graph F o� Schedule °'C" annexed � to the Contract, it is understood and agreed t�.at the design ` development drawings previously approved by th� Agency meet the - . : _ .__ _ _ requirements: of Paragraphs-F E 1) : - (2� and (3) . _ _ _ .�-- ---� � - • . , . _ _.�....� _ 25. With respect to Section l, it is mu.tuallv understood and agreed thai the square foo�age area of the Easterly 2--�oot strip of parcel A-3' and: Parcel 27_ which is subject to the rights of �he < City of Saint Paul and public tor street purposes shall z�o� be included for purposes of determining and calculating th.e purchas� price of said parcels. _. 26. With respect to Part II, Section ]_03 (g) � as revised by Section 9 (a) (ii) , the parties agree (i} that st�a,m serv3ce is excluded from the definition of utilities, (ii) that as tc� t�he +�ater �ine in : Seventh Street, Redeveloper and the Czty and 7�.ger,cy shal_1 share re].ocation costs as fallows: _ 50� - Redeveloper . 50� - City _and �gency, � (iiY) �hat as to necessary utility relocation� �n Eic�hth Strsetr �he par�ties shall share the costs of such relocat3.an, if an�, as fc�ll.owss 50� - Redeveloper � 500 - City and Agency. Further, Redeveloper shall be responsible for casts of side�ralk installation adjacent to Eighth Street to the eytenL said costs exceed those the Agency is responsible for unc�er_ Part IT, Section 103 (e) - . , If the foregoing matters are acceptahie, kindl.y sa indicate in the appropriate space provided below and r_et�.rn two e�ecuted copies of this letter, which is furnished in txiplicate, ta my office at ��our earliest convenience. ww . . �...,...w��...... .�.. .. ._: ...-- ��. _. _ . ;��._ . � _.,---- _ . w __., �W_.�..._.._..�... ,,..,.��..��..a�,� �,:., ,�..r�,.:... �� � � . � Page Seven - Sincere thanks for your continuing cooperation. _ DATED:. March 2, 1978 Very truly yours, OXFORD PROPERTZ�S U.S. LTT�. a � / �l�.Lt,t�� � ��;l�C'G�7'1"Z��� � B Da� J. T omson Vi.ce Presa.dent, and Y ,� t _ _ _ , ''"� ____ _ : By Harry Hen�}de, �YTr Executive • ` ` � Vir.e Presa.de�t � . .< ,, � ' APPROVED: � DATED: , I978 CIT'i' OF SAIN��` PAUL, M3:NNLSO^1A In presence of: By_� _ Its By Its DATED: , 1978 HOUSING A��D REDPVELOPMFI�^1 AUT�IORITY O�' 'SHE C:IT3� UF' SI.��AT �'AUL� I�iII�1N�SG�Z`A In presence of: _' � By _ Its � By Its �TATE QF MINNESOTA) : ' �) ss. COUNTY OF �rhe� i h ) ' � . On •this �1 day of 2�tarch, 1978. be£ore me, a Notary Public within and for said County, _appeared David J. Thomson. and Harry Henke, III, to me_ personally known�, who, b�i.ng by me duly sworn� did say that they are res�ectively the Vice Pres�.dent and Txecutive Vice President of OXFORD PROPERTIES U.S. LTD. , an Albezta, Ganada corpora- tion, and �khe instrument was signed on behalf o� saa_d corrioration by � authority of its Board of Directors, and they acknowledged that said instrument w�s the�•free act and deed of said �orporation. �'' r:-��t ARLENE E. MATERN a�i=cw+a � . ����;� WOTARYPUBUC-MINNESOTA NO aY'�7 PUYJI.IC ,.� "�f HE�`VEPIN COUNTY '� �.•• My Commiseian Expircs Oc[ 77.1963 : . F, ' � • . � !���'� Page Eight - . : STATE OE MINNESOTA) ) ss. . COUNTY OF ) � On this day of March, 1978, be�or� m�, a �Totary Public within and for said County, appeared the . • and the of the CITY OF SAINT PAUL, i�INNES�TA� and that they acknowledged said instrument to be executed as the free act and deed of said CITY OF SAINT PAUL, MINNESOTA. _ Notary Public STATE OF MZNNESOTA) - - j ss. COUNTY OF ) On this day of March, 1978, befoxe me, a 1�lotary Public within and for said County, appeared � the and th� � of the HOUST_NG AND REDEVELOPMENT AUTHdRITY OF THE CITY OF SAINT PAUL, 1�ZINNE50TA, the corporation named in the foregoing instrument, and that the Sea7. affixed to said instrument is the corporate seal of said cor�oration, and the znstru- ment was signed and seal.ed in behalf of said corporation by authar�ty of its Board of Commissioners, and they acknowleclged tha-� said i.nstru-- ment was the free act and deed of said corporati.an, Notary Public I : -. �--_ w.�.......�......,r, W ...._..,,:..,.:�.,. r:. ...� ._..�........�....�...� . � �.�.�..:..��.....:- - --...�...x.�ti�__------�.w:_.....,u...._._....,.�...� _ �_ �, �_. AMENDED SCHEDULE "A" �������� , : PROPERTY DESCRIPTION - � - � All that certain tract or tracts of land in the City of Saint Paul, County of Ramsey, State of Minnesota, more particularZy described as follows: PARCEL A-3 . _ Tract 1z (Abstract) � ` All of Lot 4 except that part lying .�caithin Registered Land Survey No. 320�, and all of Lots 5 and 6, B�.ock 5, City of St. Paul (St. Paul Proper) ,� lying Northerly o� Line "A" described below, and lying above a plane sur�ace .a� elevat�zon ` 72.0 feet, City of St. Paul Datu�. Line "A": Beginning at a point on the t�esterly line of Block 5, City of St.� Paul (St. Paul Proper) distant 172e00 �eet : Northerly of the Southwesterly corner of` said �lock 5; thence Easterly to a point on the Easter�.y 3.zx�� o� - said Block 5, distant 173.44 feet IVortherl�r of the Southeasterly corner thereof, and there terminating. Tract 2. (Torrens) All of Tract "B", and that paric of Tract "A" 1�a.x�g i�ortherTy of the Easterly extension of the North line o� �ract a'C", Registered Land Survey No. 320, all lying above a plane su��ace a� ei.evation 72.0 feet, City of St. Paul Datum. Subject to the rights of the City of St. Paul ax�d the public fo-r_ street purposes in Tract "A" , Regis�erec� �and Survey No, 320, for -widening of Minnesota Street. Except the Southerly one-half of East 5eventh St�eet as would accruG �o Tract 1 and Tract 2 above described, uporz va�ation of East Seven�.h Street, which accrval is expressly reserved �:a HRA. amd excepted from this Deed. All references herein to City of St. Pau]. Datum ar� to tlae United States Geadetic Survey Sea Leve1 Datum 1929 adjustment. PARCEL 27 Tract 1: (Abstract) Lots 5, 6, 7� 8, 10, 11 and 12, BZock 20, Rober�s ax�d � Randalls Addition, subject to tr� rights of the City of Saint Paul and the publzc for street purposes �.:� the : : Easterly 2.0 feet of said Lot 12. - Tract 2: (Torrens) Lots l, 2, 3, 4 and 9, Block 20, Roberts and Randalls Addition, subject to the rights af the City of Saint Paul and the pizblic for street purposes a.n the Easterly 2.0 feet of said Lot 1. Except the Northerly one-half of East Seventh Street as would accrue to any portion of Tract l or Tract 2 abave described, - upon vacation of East Seventh Street, which accrual is expressly reserved to HRA and except�d from this Deed. �----.. :...,�,..�...,�.. �- - �. _ .... _ . _ _ - ----- .4�.. 4.� ...c....,�,,. .._.�;�.� _- _ ___�.� .W......., .�_._.__.._.. �.��.�..:�,,��.:��..., � . . �' � , �;�.� � SCHEDULE 1 . � , � _ � _. . . RESOLUTION I�tO. 78-3/2- ' • . _ �tESQLUT20N APPROVING DESIGV �EVELOPN���?� IDR�►.Fl�Ir?GS f . . LETTER OF UNDERSTANDIIJG AND D�EDS Ol� CO��'V�YAr10E� PAR�ELS.A-3 AND 27, COMi%UNIfiX DEV�I�6j'��gF2��' I)�,S��.IG� �? : . WHEFtEAS, the Hausing and Redeve�.opmerx� 2�.txt.hG�z�:� o�= �:Y��_ �'��,� • of Saint Paul, Mi.nnes�ta, the City of Saa,nt Pav.�..,. a�d O�:�o�:d Properties U.S. L�d, pursuant to authvrizatzvzx n; pesoZu;���,ra. t�Qp _ �7-8/24-15, entered into a Contract For Sale E�c F,�anc�. �'�a� �r�.�xaf:e Redevelopnent (Contract� covering the sale, pwccha�e az��c xec��ve�.ce�-- : �aent of Parcels A:3 and 27, i:ommunity Develvpm�x�'�: Aa.�'�:xz�F�. ,�,'�r �n�. WIiEREAS, pursuant to provisions �f saxc� �om�rac.�.�. Ox�o•r_c� ha� .. submitted design development drawings, cansa.stx.n.c� oz ��e�ex�. sYxe.�ts . of plans, sections and eZevations, da�ed Dece,.�aT�ez„ �.07��. x��epa,s�ec1 by . - Skidmore, Owens and Merrill, and supporting r�ac?��s. �nc� p�o�ogra�k�S which have been presented �o and considered at '�Irr.zM r��e�z�,��r '��.Qg��.Irxe� - with staff reeommendation for �pprdval. a� t� �c��.£c�xza�i.�,v �rzj�x fr:Yse ' xequi.re�ents of the Redevelopment Plans foz �h� S�v�z��l� �:�a��: �?xQ���� . and of �said Contract with certain herei.naf��x� s���c�.���c�. ��.��r.�z�;,QnsP and - � _ . T�THEREAS"� ` �he parties ta the �ontrae� �ia� �xep�.z�� �x��. g�r_es�r��e� to this meeting a Letter of Understariding a�.cexx�..�i.xc� �n�. �oc�����ncr certain terms and provisions of the Contract� iccaa�e��xer �z,�c� r_ev�.s�d � : ;, Deeds of Conveyanc� Of Land For Redevelo�ame�.t�. a,�xcZ, _ . . . WHEREAS, the.Board has considerect sa�.d c�.�,��.x�gs, ����.�r r�� Understarxding anc3 Deeds, and it apgearing desz���.e �d� z�z �:�� �,��;1;,� a.nterest to approve saict documents and proceco� �o �:�QS:�acr a� ��� _ sale and purchase of said Parcels A-3 and 27 a- _ -_ . 2�IOW �HEREFORE, BE YT RESOI,VED by �ie �iex�:c�� a£ �o�ss3:.o�ers � o£ the Housixjg and Redevelopment �iu�.taari�� Q c �-.I7_ce ���� �;: ��,:�,�t � 7Pau1, Minnesota as follows: _ . . . * . . . _ _ : . . , . . . . 1. �ha� the design deve�,opmertt c��at�l nr�s�_�c�e�i,.�.�z�c� �� : Exhibit "A" Iiereto attached and da�ted as shc�e�». a� �i�e ��..�c�.b�.� d�� � Y�ereby approved, subject fio Board cons�.dega�a.ax�. anc?� app�cav�� �i {�e ` - design �evelopment drawings of �he pub�.ie gal�.c�r_sa azzcc�., sY�c�raSr Freai���a3.s and interconnections, facade des�.gn and mater_°c.a�s,. ��� s��cec.t :toac��.ng access in and from. Eight S�reet, and coa�sf:ruc�a�. ��.a�.s �o� fi-�e.� Contract Iraprovements. � ` . 2. That the Letter of Understandxng �.r.x sr�bs�a��:za�.�.�p ��-x� _.�orm submitted to this meeting is .hereb�r ap��c��rccs a�d ''��a� p�v�er officers of the HRA are hereby authorized �o �xe�u'�� �k�.� sarcc�4 3. Thatc the Deeds of Conveyance O� La�r.c�. �or. �;�u����.o�m�r3i� �.�n substanti.ally the form submitted �o �his mee��yx.c,� �z:� ki.eze�-,�r ����zovec� . and �he proper officers of �he H12A are autlza�:��cc� '�a �xe�u�fi� f:h� �a�ne ' and make de?ivery thereof at closing. � ' . .. . . . . _ _ .... . � . -, . ' . . . • Y . _ .w . , . - . •.