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®7 <br /> CITY OF ST. ANTHONY VILLAGE <br /> H.R.A. RESOLUTION 03 - 014 <br /> A RESOLUTION APPROVING THE SALE OF PROPERTIES <br /> LOCATED ON KENZIE TERRACE OWNED BY THE ST. ANTHONY <br /> HOUSING AND REDEVELOPMENT AUTHORITY <br /> WHEREAS, the St. Anthony Housing and Redevelopment Authority desires to sell the <br /> following H.R.A.-owned properties for redevelopment purposes: <br /> 1. 2534 Kenzie Terrace <br /> 2. 2538 Kenzie Terrace <br /> 3. 2542 Kenzie Terrace <br /> 4. 2546 Kenzie Terrace <br /> 5. 2548 Kenzie Terrace <br /> WHEREAS, Request for Proposals were sent out and two were received; and <br /> WHEREAS, following review of the proposals, the H.R.A. approved LaNel Financial's <br /> development concept for said 1.06 acre site to construct 38 rental units; and <br /> WHEREAS, the City's financial advisors, Ehler's & Associates, recommended the H.R.A. sell <br /> said lots as proposed. <br /> NOW, THEREFORE, BE IT RESOLVED that the St. Anthony Housing and Redevelopment <br /> Commissioners hereby approve the Purchase Agreement with LaNel Financial (Autumn Woods <br /> LLP) for the above-named properties at a purchase price of$285,000, based upon the conditions <br /> as set forth in the Agreement. <br /> BE IT FURTHER RESOLVED, that the St. Anthony H.R.A. hereby authorizes the Chair and <br /> Executive Director to execute said Agreement. <br /> Adopted this day of 52003. <br /> Chair <br /> Executive Director <br />