06-1102Council File #� Q
Green Sheet # �y� 5c)�j�
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RESOLUTION
Presented by
OF SAINT PAUL, MINNESOTA
l�
WHEREAS, by City Council File #Ob-1008, the Ciry of Saint Paul authorized the conveyance of the following real
ptoperty to the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota ("Authority"):
Lots 1 through 14, both inclusive, Block 6, Roberts and Randalls Addifron to St. Paul, Ramsey County, Minnesota,
except the Easterly 20 feet ofLots 1, 2, 2, 12, 13 an 14 ("Property"); and
WHEREAS, the Authority has authorized the acceptance of the conveyance of the Property from the City; and
WHEREAS, the City and the Authority now desue to memorialize the terms of the conveyance of the Proper[y from
the Ciry to the Authority by means of a Land Sales Contract.
NOW, THEREFORE BE IT RESOLVED, the City Council hereby approves and authorizes the City to enter into a
Land Sales Contract with the Authority for the conveyance of the Property in the fozm submitted to the City Council.
BE IT FURTHER RESOLVED, that the down payment of $1,400,OQ0 from the HRA will be deposited in the City
General Fund on or before December 31, 2006.
BE IT FURTHER RESOLVED, that the proper officials of the City are hereby authorized and directed to execute the
Land Sa1es Conkact.
Yeas Nays Absent
Benanav i/
Bostrom ,�
Harris �
Helgen J
Lantry ,i
Montgomery �
Thune ,i'
� �
Adopted by Council: Date /
Adoption Certified by Coun 1 Secretary
BY� i /J
Approved Date �7�/j �/�(o
�--T••—� ---
By: ,�—
Requested by Deparhnent of:
Office of Financial Services
Form A ove by ayo ub ssion to Council
Bv�
� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
Q'o /LboL�
ES — Finazuiat s«vices
Contact Person & Phone:
Taid P. Hurley
6$837
Must Be on ncil Agenda by (Date):
/2 •�• o
Doc.Type:�• ESOLUiION
E-DOCUmentRequired: N
Document Contact:
Conqct Phone:
Date Initiated:
OSDEC O6
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Green Sheet NO: 3035056
Depar6nent SentToPerson InitiallDate
� ancia Services
inancial ervic De ariment "rector
i Att rne
a or' Office Ma oriAss' tant
oovcil
i Cler Ci Clerk
Total # of Signature Pages _(qip All Locations for SignaW re)
Action Requested: �
Signatures on the attached resolurion authorizing the city to execute a Sale of Property lrnown as property Lots 1 through 14, both
inclusive, Block 6, Roberts and Randails Addition to the St. Paul FIRA.
Recommendations: Appm�e (A) w F
Planning Commission
CIB Committee
CiNI Service Commission
1. Has this persoNfirm e�er worked under a contract for this department?
Yes No
2. Has this person/firm e�er been a city employee?
Yes No '
3. Does this persoNfirtn possess a skill not nortnally possessed by any
current city employee?
Yes No
Explain all yes answers on separate sheet and attach to green sheet
Inkiating Problem, lssues, Opportunity (Who, What, When, Where, Why):
Council authorized the real pcoper[y under CF #06-1008. The ciry now desires to memorialize the texms. of the conveyance of the
Property from the City to the Authority. The FIRA will deposit $1.4 into the City General Fund on or before December 31, 2006.
Advantages HApproved:
Contract vaill be properly executed.
Disadvantages If Approved:
None.
Disadvan Wges K Not Approved:
Contract will not be properly executed.
ToW I Amount of
Transaction:
Funrling Source:
Financia l Info�mation:
(Ezplain)
CostlRevenue Budgeted:
Activity Number:
December 5, 2006 3:40 PM Page 1
f� //o�
LANASALESCONTRACT
This Land Sales Coniract ("ContracY') is made as of December , 2006 by and
between the City of Saint Paul, a home rule charter city ("City") and the Housing and
Redevelopment Authority of the City of Saint Paul, Minnesota, a public body organized
under Minn Stat Chapter 469 ("Authorit�').
Recitals
By City Council File #06-1008 ("City Resolution") the City authorized the
conveyance of the following real property to the Authority:
Lots 1 through 14, both inclusive, Block 6, Roberts and Randalls Addition to St.
Paul, Ramsey County, Minnesota, except the Easterly 20feet ofLots 1, 2, 3, 12, 13 and
14 ("Property").
The City Resolution further provided that the Authority was obligated to
reimburse the City in the amount of the gross proceeds from the sale of the Property per
Section 3.4 of the Development Agreement between the Authority and Penfield
Condominums ("Penfield") dated October 1, 2006 ("Development AgreemenY') in the
amount of $3,560,000.
By resolution No.06-3/22-4 ("Authority Resolution"), the Authority authonized
the acceptance of the conveyance of the Property from the City. By this Contract the
Authority agrees to be bound by the terms and conditions of the City Resolution.
The City and Authority now desire to memorialize the terms of the City
Resolution and Authority Resolution in this Contract and other terms described herein.
NOW THEREFORE, the City and Authority agree as follows:
1. Sale of Propertv. Subject to the terms and conditions contained herein, the
City agrees to sell and convey to the Authority, and the Authority agrees to buy
from the City the Property.
2. Purchase Price and Manner of Pavment. The purchase price to be paid by
the Authority to the City far the Property is the sum of $3,560,000 ("Purchase
Price") payable as follows: $1,400,000 to be paid on or before December 31,
2006 ("December PaymenY'); and the balance of the purchase price in the sum of
$2,160,000 payable within ten days of the receipt of the payments made by
Penfield under Section 3.4 of the Development Agreement.
3. ContinQencies. The obligations of the Authority under this Contract to
pay the balance of the Purchase Price in the sum of $2,160,000 to the City are
contingent upon: (a) the conveyance of the Property to Penfield by the Authority
as required under the Development Agreement, and (b) the payments are made to