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HOUSING AND REDEVELOPMENT AUTHORITY <br />OF THE CITY OF ST. ANTHONY <br />RESOLUTION NO. 12-05 <br />RESOLUTION RELATING TO A PURCHASE AND SALE AGREEMENT FOR REAL <br />PROPERTY BY AND AMONG THE HOUSING AND REDEVELOPMENT AUTHORITY <br />OF THE CITY OF SAINT ANTHONY, MINNESOTA AND ST. ANTHONY LEASED <br />HOUSING ASSOCIATES II, LIMITED PARTNERSHIP (THE "DEVELOPER"). <br />WHEREAS, the Developer is proposing to enter into a Senior Rental Housing Development <br />Agreement (the "Development Agreement') with the City of St. Anthony (the "City") and the St. Anthony <br />Housing and Redevelopment Authority (the "Authority"), under which the Developer will acquire <br />approximately 2.65 acres in the Redevelopment Project Area No. 3 (respectively, the "Development Property" <br />and the "Project Area") and construct approximately 152 senior rental housing units, including at least 20% <br />low and moderate income units, and related parking improvements (the "Development'); and <br />WHEREAS, the Development Property consists of three separate parcels of land and the Developer <br />has entered into two purchase and sale agreements to acquire the parcels. To acquire the southern portion of <br />the Development Property (the "Southern Parcel"), the Developer will enter into a purchase and sale <br />agreement with Apache Redevelopment, LLC (the "Southern Parcel Purchase Agreement'). To acquire the <br />two parcels of land which comprise the northern portion of the Development Property (the "Northern <br />Parcels"), the Developer will simultaneously with the execution of the Development Agreement enter into a <br />purchase and sale agreement with the Authority (the "Northern Parcels Purchase Agreement'); and <br />WHEREAS, the sale contemplated by the Northern Parcels Purchase Agreement is consistent with the <br />requirements of Minnesota Statutes Section 469.029. Public notice was provided as required under 469.029 <br />and a public hearing was held on May 22, 2012. <br />NOW, THEREFORE, BE IT RESOLVED, by the St. Anthony Housing and Redevelopment Authority <br />as follows: <br />That the Chair and Executive Director are authorized to enter into the Northern Parcels <br />Purchase Agreement by and among the Housing and Redevelopment Authority of the <br />City of Saint Anthony, Minnesota and St. Anthony Leased Housing Associates II, <br />Limited Partnership. <br />ATTEST: <br />Adopted this 12th day of June, 2012 <br />City Clerk <br />Reviewed for Administration: <br />Chair <br />Executive Director <br />