Item Description:
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Accept transfer of surplus properties located at 3200 Queen Ave N, 3211 Penn Ave N, and 3206 Penn Ave N in Minneapolis to the HCHRA from Hennepin County; authorize sale to VY Enterprise LLC, and John Aish Inc., or affiliated entities, respectively
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Resolution:
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BE IT RESOLVED, that the Hennepin County Housing and Redevelopment Authority (HCHRA) Board of Commissioners accept the transfer of surplus property located at 3200 Queen Avenue North (PID: 080-29-24-14-0204), 3211 Penn Avenue North (PID: 080-29-24-14-0205), and 3206 Penn Avenue North (PID: 090-29-24-23-0224) within the City of Minneapolis from Hennepin County for the purpose of affordable housing with ground floor active or commercial uses; that following review and approval by the County Attorney's Office, the Executive Director be authorized to sign all conveyance documents on behalf of the Authority; and
BE IT FURTHER RESOLVED, that the Executive Director be authorized to negotiate Purchase Agreement A2613463 with VY Enterprise LLC, or affiliated entity, for the sale of 3200 Queen Avenue North and 3211 Penn Avenue North, in an estimated receivable amount of $233,400; that following review and approval by the County Attorney's Office, the Chair be authorized to sign the agreement, and the Executive Director be authorized to sign all related documents on behalf of the Authority; and that upon sale of the property, the HCHRA provides Hennepin County with the sales proceeds excluding holding and transaction costs; and that the Controller be authorized to accept and disburse the funds as directed; and
BE IT FURTHER RESOLVED, that the Executive Director be authorized to negotiate Purchase Agreement A2613464 with , John Aish Inc, or affiliated entity, or with the City of Minneapolis as a pass-through entity, to the selected developer for the sale of 3206 Penn Avenue North, in an estimated receivable amount of $135,100; that following review and approval by the County Atto...
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