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Hennepin County Housing and Redevelopment Authority Contract No. Community Rehabilitation Fund Program—DR 1187 Recovery GRANT AGREEMENT THIS AGREEMENT is made and entered into this day of 1998,between the Hennepin County Housing and Redevelopment Authority, a political subdivision of the State of Minnesota, hereinafter referred to as the"HRA,"A-2400 Government Center,Minneapolis,Minnesota 55487,and the City of St. Anthony,whose address is 3301 Silver Lake Road, St.Anthony,MN 55418, a public body corporate and politic under the laws of the State of Minnesota,hereinafter referred to as "City": RECITALS 1. The HRA has applied for and received$150,000 in funding on behalf of the City under the Minnesota Housing Finance Agency (MHFA) Community Rehabilitation Fund Program – DR 1187 Recovery Program. 2. The HRA desires to have certain activities,hereinafter referred to as "Activities,"performed by the City, as described within this Agreement,including any exhibits and attachments, as authorized by resolutions of the HRA for the purpose of implementing flood mitigation activities under the MHFA Community Rehabilitation Fund Program—DR 1187 Recovery Program, and applicable rules, regulations, and guidelines promulgated by federal,state,and HRA authorities. 3 It is appropriate and mutually desirable that the City be designated by the HRA to undertake the aforementioned Activities, so long as the parties adhere to the requirements of the MHFA Program regulations, and state and local law,as provided for herein. 4: The purpose of this Agreement is to provide for cooperation between the HRA and the City,as the parties to this Agreement,in implementing these Activities and to set forth the terms and conditions under which said Activities shall be implemented. 5. The parties are authorized and empowered to enter into this Agreement by the Laws of the State of Minnesota,including Minnesota Statutes Section 462A.206 and Minnesota Statutes Sections 469.001 to 469.047. NOW, THEREFORE,in consideration of the mutual covenants and promises hereinafter set forth,the HRA and City agree as follows: AGREEMENT FOR THE ACQUISITION OF HOUSING 1. SCOPE OF ACTIVITIES. City will acquire legal title to the real property("Premise")located at site . legally described in Exhibit 1,attached hereto and incorporated by reference. 2. PROJECT DESCRIPTION. The acquisition and demolition of at least one single-family residential unit in the city of St.Anthony. This property will be part of a future storm retention system to eliminate and/or reduce storm damage of the sort created by the storms of early July 1997. MHFA Program funds will be limited to acquisition and demolition costs.