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4 <br /> <br />schools helps enhance their social and economic mobility and is crucial for breaking inter- <br />generational poverty and increasing educational attainment.” Equity Grant Rep. at 10. <br />The Attorney General has received over 25 letters from Lowry Grove residents whose <br />families face the devastating prospect of being forced to leave their homes and community. The <br />financial consequences of this displacement, along with the intangible loss of their homes, <br />neighborhood, and educational opportunities, will have severe impact on their lives and the State. <br />III. MINN. STAT. § 327C.027. <br />To prevent such harm (as discussed infra), the Minnesota Legislature in 1991 enacted <br />Minn. Stat. § 327C.095, subd. 6 and 7, creating a statutory “right of first refusal” for residents <br />faced with closure or conversion of their park by a park’s owner or a new purchaser. 1991 Minn. <br />Laws. ch. 26, §§ 2-3. The statute requires a buyer to notify a seller of plans to close and <br />redevelop park property and requires the owner to then notify residents of the offer and buyer’s <br />intent. Upon this notice, residents have a 45-day period in which they or a nonprofit with written <br />permission of “owners of at least 51 percent of the manufactured homes in the park” may <br />purchase the park under the “same terms and conditions” initially offered by the developer. Id. <br />IV. DEFENDANTS’ CONDUCT AND AGREEMENTS TO CLOSE AND REDEVELOP LOWRY GROVE. <br />Defendant Lowry Grove Partnership (“LG Partnership”) owned Lowry Grove. In early <br />2016, Defendant Continental Property Group (“Continental”) negotiated contracts to buy the <br />park and incorporated Defendant The Village, LLC (“The Village” or “TVL”) on April 20 to <br />assume rights to the transaction. The “Lowry Grove Transaction” (as they called it) was executed <br />in three parts: a January 25 Letter Agreement (“Letter Agreement” or “LA”), an April 27 <br />“Purchase Agreement” (“Purchase Agreement” or “PA”), and a June 13 closing (“Closing”). <br />27-CV-16-9809 Filed in Fourth Judicial District Court <br />8/5/2016 8:53:55 AM <br />Hennepin County, MN