Item Description:
title
Declare property at 219 4th St S, Minneapolis surplus and authorize sale to People Serving People, Inc. for family shelter
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Resolution:
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BE IT RESOLVED, that the property located at 219 4th Street South in Minneapolis be declared surplus; and
BE IT FURTHER RESOLVED, that the County Administrator be authorized to negotiate Agreement A2613513 with People Serving People, Inc., or affiliated entity, for the sale of property at 219 4th Street South in Minneapolis, with an estimated receivable amount of $5,500,000; that following review and approval by the County Attorney's Office, the Chair be authorized to sign the agreement, and the County Administrator be authorized to sign all related conveyance documents; and that the Controller be authorized to receive and disburse funds as directed; and
BE IT FURTHER RESOLVED, that the County Administrator be authorized to negotiate Loan Agreement LS00000046 with People Serving People, Inc., or an affiliated entity, for the acquisition of the property at 219 4th Street South in Minneapolis for the provision of family shelter, during the approximate period September 1, 2026, through December 31, 2031, in an amount not to exceed $4,500,000; that following review and approval by the County Attorney's Office, the Chair be authorized to sign the loan agreement, and the County Administrator be authorized to sign all related loan documents; and that the Controller be authorized to receive and disburse funds as directed.
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Background:
The property at 219 4th Street South, Minneapolis, commonly referred to as Federal Plaza ("Property") was acquired by the Hennepin County Housing & Redevelopment Authority in 2020 and subsequently transferred to Hennepin County in 2023. The Property was initially utilized for shelter for individuals impacted by the COVID-19 pandemic and was subsequently utilized for emergency shelter for families experiencing homelessness. The most recent use of the Property was a...
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