263994 WHITE - CITY CLERK � �
I�INK - FINANCE CO1111C11
CANARY -DEPARTMENT GITY OF SAINT PALTL � � File NO. 26399
BLUE -MAYOR
L �" � Counc ' Resolution
, Presented By
Referred To Committee: Date
Out of Committee By Date
WHEREAS, C.F. 263110 approved February 15, 1974 authorized the City
of St. Paul and the Housing and Redevelopment Authority to enter into a
Joint Powers Agreement regarding the acquiring of a tract of tand located
in the West Midway-South St. Anthony Park NDP ProJect, Minnesota A-1-2 and,
WMEREAS, the total cost of this acquisition was estimated at $2)0,000.00
to be reimbursed from Municipal State Aid Project 164-120-08 and,
WHEREAS, it has now been determtned that the cost of this acquisition
has now increased to $426,390.00 now therefore be it,
RESOLVED, that the above mentioned Council Resolution be amended to
change the cost of this acquisition to $426,390.00 and this airaunt to be
financed from Municipal State Aid Project 164-120-08.
P-05476R
COUNCILMEN
Requested by Department of:
Yeas Nays Pub 1 i C Wol'ks
H�DWC Chr i s tensen In Favor
HI�lW6�(�(�Elfi Hozza
Levine KCN� �
ntwc�rac�, e__.�te� � Against BY `
9�.( Syivester aniei J. ord, Direct r
Tedesco
Mme.President � Hunt AUG 2i �g�� Form Appr ed by City ttorn y
Adopted by Council: Date
Certified se by Councii Secretary BY
By . -'
Approv by Ma . Date � T4 Approved by M r missi to Council
By BY
PUBLISHED q�� 10 1974
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CITY OF SAINT PAUL
Capital of Minnesote
DEPARTMENT OP PUBLIC WORKS
234 City Hall & Court Hou:o 55102
.lu 1 y 30, 1974
Honorable Lawrence D. Cohen
Mayor of St. Paul
Room 347 City Hall
BU ILD ING
Dear Mayor Cohen:
The attached Council Resolution amends a Council Resolution previously
approved.
The estimate of $210,000 was originally made in January, 1974, primarily
based on recorded data, cursory viewing of the property and very limited
informat�ion available at that time.
The Housing � Redevelopment Authority on the basis of two independent
appraisals and an equipment appraisal following a complete review by the
Valuations Division of the Department of Finance and subsequent appraisal
adjustments has received acceptance of their offer of $415, 190 for the
purchase of the entire tract. This amount, along with appraisal fees and
HRA administrative costs, totals $426, 390.00
The City under the terms of the Agreement will receive credit for any rents
, collected, sale of salvageable equipment and the sale of the balance of the
land at such time it is disposed of. A very rough estimate of this credit
amounts to $100,000.00
I recommend proceeding with the acquisition and approval of the attached
Council Resolution.
Yo s ve ry t�ru 1 y, �
' � y�
�-�� -����
Daniel J. ford
Director of Public Works
APPROVED:
/., _ � -,
Frank D. Marzitelli
JFS:KCN:ddr City Administrator
Attachment