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062298 EDA Official File Copy CITY OF NEW HOPE EDA AGENDA EDA Regular Meeting #3 June 22, 1998 Agenda #3 President W. Peter Enck Commissioner Sharon Cassen Commissioner Don Coil/er Commissioner Pat La Vine Norby Commissioner Gerald Otten 1. Call to Order 2. Roll Call 3. Approval of Minutes of June 8, 1998 4. Resolution Approving Cooperative Agreement Between the Minneapolis Public Housing Authority and the New Hope Economic Development Authority and the City of New Hope Regarding PPL/Bass Lake Townhomes Project at 7300-7332 Bass Lake Road (Improvement Project No. 614) 5. Adjournment CITY OF NEW HOPE 4401 XYLON AVENUE NORTH HENNEPIN COUNTY, MINNESOTA 55428 Approved EDA Minutes June 8, 1998 Meeting #2 CALL TO ORDER President Enck called the meeting of the Economic Development Authority to order at 8:26 p.m. ROLL CALL Present: Enck, Cassen, Collier, Otten Absent: Norby Staff Present: Malecha, Hanson, Donahue, Leone, McDonald, Henry, Draper APPROVE MINUTES Motion was made by Commissioner Collier, seconded by Commissioner Cassen, to approve the EDA minutes of February 9, 1998. Voting in favor: Enck, Otten, Cassen, Collier; Abstained: None; Absent: Norby. Motion carried. 7300 BASS LAKE RD President Enck introduced for discussion Item 4, Resolution Authorizing PROJECT 614 Commencement of Eminent Domain Proceeding to Acquire Property at 7300 Bass Item 4 Lake Road. President Enck questioned whether the City would be obligated to proceed with obtaining the property tltrough eminent domain proceedings ff for some reason the PPL Bass Lake Road Townlaome Project on Bass Lake Road does not materialize. He commented on the potential expense of acquiring the property through eminent domain proceedings. Mr. Dan Donahne, City Manager, pointed out the need for expedient acquisition of the property at 7300 Bass Lake Road in order for the PPL project to stay on schedule and be completed by March of 1999. Mr. Marty Malecha, Assistant City Attorney, noted that the court hearing is usually early in the process and after that point it would be difficult to reverse or abandon the procedure. It was noted that at its meeting of March 2, 1998, the Robbinsdale School Board authorized selling the 100 feet of property at the rear of Thorson Elementary School to PPL for $104,000. However, the sale cannot be made until the School District conducts a public hearing. Ms. Lisa Kugler, PPL consultant, briefly updated the EDA on the PPL project. Mr. Kirk McDonald, Director of Community Development, stated staff has not met with PPL since concept plans were approved. He pointed out that additional meetings will be necessary to review final plans. RESOLUTION 98-03 Commissioner Otten introduced the following resolution and moved its adoption Item 4 subject to School District 281 authorizing the sale of the property necessary for the project: "RESOLUTION AUTHORIZING COMMENCEMENT OF EMINENT DOMAIN PROCEEDING TO ACQUIRE PROPERTY AT 7300 BASS LAKE ROAD". The motion for the adoption of the foregoing resolution was seconded by Commissioner Cassen, and upon vote being taken thereon, the following voted in favor thereof; Enck, Cassen, Collier, Otten; and the following voted against the same: None; Abstained: None; Absent: Norby; whereupon the resolution was New Hope EDA June 8, 1998 Page 1 declared duly passed and adopted, signed by the president which was attested to by the executive director. 7300 BASS LAKE RD President Enck introduced for discussion Item 5, Resolution Finding Need to Acquire PROJECT 614 Title and Possession of Property at 7300 Bass Lake Road Prior to Commissioners' Item 5 Award, Approving the Appraisal of Damages Resulting From Taking and Ratifying and Authorizing All Steps Taken by Staff to Acquire the Property. RESOLUTION 98-04 Commissioner Otten introduced the following resolution and moved its adoption Item 5 subject to School District 281 authorizing the sale of the property necessa~ for the project: "RESOLUTION FINDING NEED TO ACQUIRE TITLE AND POSSESSION OF PROPERTY AT 7300 BASS LAKE ROAD PRIOR TO COMMISSIONERS' AWARD, APPROVING THE APPRAISAL OF DAMAGES RESULTING FROM TAKING AND RATIFYING AND AUTHORIZING ALL STEPS TAKEN BY STAFF TO ACQUIRE THE PROPERTY." The motion for the adoption of the foregoing resolution was seconded by Commissioner Collier, and upon vote being taken thereon, the following voted in favor thereof; Enck, Cassen, Collier, Otten; and the following voted against the same: None; Abstained: None; Absent: Norby; whereupon the resolution was declared duly passed and adopted, signed by the president which was attested to by the executive director. ADJOURNMENT Motion was made by Commissioner Collier, seconded by Commissioner Cassen, to adjourn the meeting. All present voted in favor. The New Hope EDA adjourned at 8:41 p.m. Respectfully submitted, Valerie Leone City Clerk New Hope EDA June 8, 1998 Page 2  ~ EDA REQUEST FOR ACTION Originating Depa~tiiient Approved for Agenda Agenda Section EDA Community Development ] "~ , 6-~-~/ Item No. ByKirk McDonald By:. 4 RESOLUTION APPROVING COOPERATION/~GREEMENT BETVVEEN THE MINNEAPOLIS PUBLIC HOUSING AUTHORITY AND THE NEW HOPE ECONOMIC DEVELOPMENT AUTHORITY AND THE CITY OF NEW HOPE REGARDING PPL./BASS LAKE TOWNHOMES PROJECT AT 7300-7332 BASS LAKE ROAD (IMPROVEMENT PROJECT NO. 614) The enclosed resolution, which needs to be approved by both the City Council and EDA, approves a Cooperation Agreement with the Minneapolis Public Housing Authority for the PPL/Bass Lake Townhomes Project at 7300-7332 Bass Lake Road. The agreement is necessary to permit PPL to obtain $1,256,000.00 in funding from the MHOP program for the Bass Lake Road project. Per the correspondence from the City Attorney, this agreement indicates the City, in its capacity as the taxing authority, will not assess real estate taxes against the 12 MHOP units within the development for the entire 40-year exemption period. In lieu of real estate taxes, the Owner will pay the EDA the PILOT (payment in lieu of taxes). The PILOT will equal roughly $2,000.00 - $4,000.00 annually. This amount will be calculated as 5% of the "Shelter Rent" as that term is defined in the agreement. Shelter rent is approximately 30% of the income of the occupants of the 12 MHOP units. As a result, the rental payment will be quite Iow. The EDA will be required to pay the PILOT to the County for distribution to the various taxing bodies as if it were the actual real estate tax payment. Other provisions of the agreement will require the City to provide the MHOP units with basic City services as provided to all other properties in the City and to cooperate in the successful development and operation of the housing units. This means vacating streets, if necessary, granting reasonable deviations and variances from the building and zoning codes, accepting dedication of interior streets within the development, if any, and providing sidewalks, water mains and storm and sanitary sewers leading to the development area. Most of these things the City has already done, is in the process of doing or it is not applicable to this development. Keep in mind this agreement contains boiler plate language used on all such projects by the MPHA. It has not been drafted specifically for the subject development. Staff recommends approval of the resolution and authorization for the President and Executive Director to execute the agreement on behalf of the Economic Development Authority. / RFA-O01 ~ CITY OF NEW HOPE EDA RESOLUTION NO. 98- RESOLUTION APPROVING COOPERATION AGREEMENT BETWEEN THE MINNEAPOLIS PUBLIC HOUSING AUTHORITY, THE NEW HOPE ECONOMIC DEVELOPMENT AUTHORITY AND THE CITY OF NEW HOPE FOR THE PPL/BASS LAKE TOWNHOMES PROJECT AT 7300-7332 BASS LAKE ROAD (IMPROVEMENT PROJECT NO. 614) WHEREAS, the City of New Hope and the New Hope Economic Development Authority desire to cooperate with Project for Pride in Living, Inc. (PPL) on the redevelopment of an area located at 7300-7332 Bass Lake Road: and WHEREAS, a Cooperation Agreement between the City, EDA and Minneapolis Public Housing Authority is necessary to permit PPL to obtain funding from the MHOP program for said project; and WHEREAS, the agreement states that the City will not assess real estate taxes against the 12 MHOP units within the development for the 40-year exemption period and that in lieu of real estate taxes, the owner will pay the EDA the PILOT (payment in lieu of taxes); and WHEREAS, other provisions of the agreement will require the city to provide the MHOP units with basic City services as provided to all other properties in the City and to cooperate in the successful development and operation of the housing units. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of New Hope that the Cooperation Agreement is approved and that the President and Executive Director are authorized to execute the agreement on behalf of the c~ty. Adopted by the Economic Development Authority of the City of New Hope, Hennepin County, Minnesota, this 22nd day of June, 1998. President Attest: Executive Director JENSEN SWANSON & SONDRALL, P.A. Attorneys At Law 8~25 l~/Nattoo~ OtO$$~NG, ST~, 201 BR~ P~ ~A ~S443-1~ T~P~O~ (6~) 4298811 * ~.r~ (6~) 493-5193 ~R~N L. J~* MAR~ P, ~ o~cou~L June 18, 1998 Lo~S Q. S~A~ Kirk McDonald City of New Hope 4401Xylon Avenue North New Hope, MN 55428 RE: PPL Baas Lake Road Housing Develooment Our File: 99.11200 Dear Kirk: Enclosed is a draft copy of the required Cooperation Agreement bo~h the City and EDA must Sign to permit PPL ob%sin $1,356,000.00 in ~unding ~rom ~he HHOP program on the Bass Lake Road project. Basically, this agreement indicates the City, in capacity as ~he taxing authoriSy, will not assess real estate taxes against the 12 NHOP un,ts w~th~n development ~or the enti~e 40 year exemption period. In lieu O~ real estate taxes %he Owner will pay the EDA the PILOT (payment in lieu o~ taxes). The PILOT will equa~ roughly $2,000.00 to $4,000.00 annually. This amount be calculated as B~ of ~he "Shelter Rent" as that term is defined in the agreement. Shelter rent is approximately 30~ of :he income of the occupants of ~he 12 NHOP units. As a result, the rental payment will be eui~e low. The EDA will be required to pay ~he PZLOT to t~e County for distribution to the various [axing bodies as if t[ were the ac[ual real es~a~e tax payment. O~her ~rovisione of the agreement will require ~he City Orovtde the NHOP units wi:h basic City services as provided to all other properties in ~he Cf:y and ~o cooDera~e in the eucceesful developmen~ and opera:ion of the houeing units. This means vacating streets if neceemary, granting reaeonable devOe[ions and variances ~rom ~he building and Zenlng codes, acce~ting dedicatien o~ interior 0~18~98 08:33 ~S&S, ATTORNEYS -~ 5315136 NO. ~5 P003 Kirk NcDona3d June 18, 1998 Page 2. wi%hin %he development, i~ any, and providing sidewalks, water mains and s%orm and sanitary sewers ]eading to the development area. Nos% of these things the City has e]ready done , is in the process of doing or it is not applicable to this developmen%. Keep in mind ~his agreement con%sins bo,]er plate 3anguage used on all such projects by ~he NHPA. It has n~t been drafted sDecifica]ly ~or %he sub~ec% developmen%. The a~reemen% should be considered at the June 22, 1998 meeting by both the C~ty Council and EDA. A motion &uthor~zing the Nayor and C~ty Nanager to sign on behalf of the Ci%y and a mo%~on au%horizing %he PresidenC and Execu%~ve Director to s~gn on behalf of the EDA i~ all the% is necessary. Please contact me if you have any other questions or comments regarding this ma~ter. Very truly yours, 8teYen ~. $ondrall zl~l enclosure cc: Dan Donahue ~5~-~ l~:~ H~LP~ES · GALEY. LTD, ~' ~12 493 5i9] N0.659 ~ t DRAFT: COOP£RATION This A~rccmen~ m~e ,nd cn~ i~to ~i~ ~ da~ of. . ]9~. by ~nd ~c~ ~c Miflne~[Js Public ~ous~ Au~od~ in ~fld for ~e Ci~ of Mi~ca~lis (~c "Authod~"), ~e ~onomie ~velopmeat A~ori~ in and for the Ci~ of New Hope (the ~d ~ Ci~ of New Ho~, S~te of Minne~ (~ WI~ESSETH: In consideration of ~c mu~l covena~ hcrci~R~ set fo~h, t~ ~i~s hereto ~e u follows: 1. W~e~e~ used ~n this Agreement: la) ~e ~ "MHOP Units" me~ ~elve (I 2) ~its of i~-r~t h~sin& hereafter to developed wJ~ the fi~¢~l ~J~ce of the Uni~ Sates of ~edca ~ough ~ S~ of Housing mod U~ ~velop~ (~c "Govem~nt") and [~at~ wi~in a ~i~-four (34) ~ii ~ome d~vclopm~nt (~c '~ve[o~cnt") ~ o~cd by a iow i~om~ ~si~ ~ c~it ~ip m ~ fo~ in which Pm~eci for Pride in Living, Inc., will ~ ~ &~e~l pa~er (~er') and I~i~ 7]00-7~2 Bass ~k6 Ro~ ~ ~ City of New Ho~, ~~. lb) ~e te~ "T~g ~y' or 'T~ing B~ies' m~s ~e S~m of Minn~ s~ any ~d all political su~ivisioes or ~ing u~is ~c~f in ~ch ~c ~OP Uni~ si~uai~d and which would ~ve au~od~ w ~sa or lc~ ~I or ~ona[ t~cs, or to ce~.fy such ~cs ioa ~in~ ~ or ~[ic o~, ~ ~ levi~ fo~ its u~ Md ~ne~t with ~s~c~ ~ ~e ~OP Uni~ if~cy ~ ~t cxcm~ from ~h lc) ~e te~ "5~lt~ ~nt" me~s ~e to~! of all cba~g~ ~ all ~OP Unit lcn~ dwelling rtn~ a~ no~elling ~ (excluding aU o~ ~mt o~ ~e ~OP Uni~) less ~ co~ Of all d~lling and non~clling utJ~ticS, (e) m ~ure a ~t wi~ ~e Gov~t for capi~ ~ ~ ~ua] con~buzions f~ ~ ~OP U. its; and (b) to ~ to ~ ~elo~d ~d p~vidc fo~ ~ ad~~ of~ ~OP Units, 3. la) Pu~umflt ta M;nn~ S~a~. ScctJo~ 469.~, ~ ~OP Ufl~ a~ exempt ~om aU rca[ ~d ~~ pro~ ~es Icvicd or im~ ~ ~y T~ B~y ~or long as e~ (~) the ~OP Uni. ~ o~ed by · public ~y or governmental · ge~cy ~d ~e u~d ro~ Iow-~t housing pu~ (ii) ~ ~OP Uniu ~ m ~c tcquircmcn~ of ~io~ 5 of~e UnR~ S~es H~ing Act o~ 1937, (iii) ~e conuact ~cen ~e Au~ ~ ~e ~ in ~~n wi~ ~ ~OP Units continues to obtiga~ ~e ~et ~ o~te ~ M~OP Uni~ ~s · low ~ ho~ing 0~ 18~S~8 08:3-3 IS~S, ATTO~S projecL o~ (iv) ~y obligations is~m'.,d i, coz~,ttct~on wi~ ~c ~OP Uni~ mo~ys due ~ ~e ~vc~ent ~ co~tlon with ~h ~OP U~its mmiin ~d, whichever ~ti~ is ~e lop,est (the "~empti~ ~cri~"). Durin~ t~ E~emp~on Pcri~ t~ M~icipsli~ ou ~lf o~ ~ TexJn8 ~ies, a~es ~ it will ~ot 1c~ or ~ ~ny rc~l or ~l pm~ ~es u~n MHOP Uni~ or u~n thc Au~o~ with m~cl ~to. ~u~ lhe ~OP Uni~ ~nsJs~ of ~elve (12) uni~ ~d wi~ ~d ~r ~mmon pdv~[e o~rship w[¢h 22 ~J(Jon~l housing unJ~ ~ich ~~ ~e ~velo~ ~ pm~ ~s · nd pra~ t~x exemption sb~[l ~ de~cd ~s follows: (i) the ~x c~i~ to~[ Deve~opm~n~ sh~t be multiplied by · ~on, ~ numcre¢or of w~ch ~u~Is ~c ~o~l n~r of ~OP Uni~ znd ~ d~omi~mr of ~ieh ~usis the to~i deduced [rom said ~x (c) ~in~ ~c Excmptian Period, t~ ED~ sh~l ~ke, or ~usc to ~ ma~, p~m~ in lieu of ~es ("PI~OT") in ~ymcn~ For ~e public s~icc~ a~ ~mishcd f~om time to ~ime wight o~er ~st or c~r6e ~or or wi~ res~ to ~OP UnJ~. ~ach PI~OT sh~l ~ msde a~ ~e ~me when ~! pm~y ~ ~OP Units ~uld ~ ~id iE it ~ subject ~ ~atJon, ~d ~all ~ in an amour equa~ to e[Qcr (i] five ~r~nt (5%) of (he S~ltet Reno ~mally collated ~t ~cnt to ex~d five ~r~nt (5%) of ~e Shel~r R~t c~ed ~th ~s~t ~OP Uni~ dudn8 the pr~i~ ~[end~ y~, or (ii) ~e amour ~i~ paid by a~lic~ble S~ law in effect on the ~te s~h pa~e~ is m~e, whic~vet lo~r. (d) ~muant ~ ~innes~ta ~ta~s, S~tJo~ 4~9.~0, su~ivision 3, ~c Coun~ shall dis~ibum ~ P~OT among the Taxing ~iss in ~e ~o~ioa which ~e pro~y taxes ~i~ would have ~ ~d ~ ~ T~ing B~y ~r such ye~ MHOP Uni~ wcm not excm~ from ~iOn; ~vi~, hoover, ~at ao pa~t for ~y y~r ~tt ~ m~ [o ~y T~ing ~y ~ ex~ of ~e ~ount oF ~e pro~ ~xcs ~ieh ~ald have ~n ~id ~ such T~ Body For s~h ye~ if~c ~OP Uni~ ~te am ~empt ~ (¢) [~ ~ event t~ PJ~T is not ~id, ~o 1[~ a~ain~ ~e ~OP Uni~ ar ~e~ o~ Au~ori~ O~ EDA shall t~ch, not ~U ~y i~rest or ~at~ acc~ or a~ch ac~unt themoR 4. D~in8 ~ ~x~on P~od, ~e Mun~¢i~li~, ~t other ~pp~pri~e T~ing ~y, s~]l: (=) F~ish or ~u~ to ~ f~mish~ m ~e ~0~ Uni~ pubic ~i~ ~d fa;ili(i;s ~c ~me e~ter ~'m ~ ~e c~nt ~ a~ ~mis~ bom fmc to ~e wi~ut ~t or ¢ha~e m ~ ~ell~ ~d in~bimn~ in ~e M~icipallty: (b) Vacate such s~, roads. ~d lile~ ~thin ~ ~a o~ ~ ~OP Uni~ as necess~ ~ ~e ~velopment thief, ~ convey ~t~m ch~ to tb~ Au~ori~, · e EDA or ~er of the ~OP U~ s~h in~ ~ ~ M~ici~lJ~, or ~er T~ing B~y may ~ve in g~h v~a~ ~: ~ in ~ ~ ~ it is la~ally able 06×1~ 88:34 ZS&S~TT[]RNEYS a 5~15156 GS/~5,'=JEI 14~1 AO_ME$ $ Gi=IL. EY, ~TO. ~ 61R ~3 5193 do so without cost or expense to the Authority, ~e EPA, the Owner of the MI-IOP Units or to the Municipality or other Taxir~g Body, cIusC to be removed from such vacated ~eas, in so tar ~s it may bc ncccssary, all public er private utility lines and equipment; in so far ~s the F4unicipali~y or other Tnxing Body rely I&w~ully do so, ii) grant such dcvindons From the building code or' thc Mun{¢il~lity or other Taxing Body ns reasortable &nd ncccssary to promote economy and etT~ciency in lite dc~clopmcnt and administration of thc MHOP Units. and at thc same time safeguard health and safety, and (ii) make such ~hangcs in &ny zoning of the sim and surrounding territory ol'the MHOP Units as are reasonable and necessary for thc d~lv¢lopmcnt anc] protectioll the IV[HOP Units and the surrounding territory; id) Accept grants of'gasertten/,~; necessary for tile development of'the MFIOP Units; and (e) Cooperate with the Authority and EDA by such other lawful action or ways u thc Municipality or other Taxing Body and the Authot'ity may find necessary in conncctio~t with thc development ~nd administration ofth¢ I~-IOP Units. 5. In the initial development of the 1VIHOP Units, the Municipality further ab-q'ccs, on behalf of ali Taxi,il Bodies, that within & rca.sonablc time after receipt of a written rccluest t.hgrefor from thc Authority or ia) that it ~vil! accept the dedication or' all inter|or greets, mods, alleys, and adjacertt sidewalks withi~t thc azca of the Development,. together with all storm and sanitary sewer mains in such dedicatrx] areas, after thc Oumer or*the M. HOP Units, at its own expense, has complcted thc grading, improvement, paving, and installation thereof in · cc, ordance with specificatioe, sar. ccpt&ble to thc Murticipality or other Taxing Body; (b) that it will act. apt necessary dedications of land rot, and will grade, improve, pave, arid provide sidcwalks for, all ii,~cts Ix~unding the Developments as sac ncc~sary to pi*ovidc adequate access thereto (in considcratlo~ whereof thc Owner shall pay to the M~micipaliry or other Taxing Body such amount as am or could be a~sesr, ed against thc I~veiopment); and (c) that it will provide, or cause to be provided, water mairzs, and storm a~ sanitary sewer mains, leading to the Development and serving the botmding succts thcmot' (in consideradofl whereof the Owner of'the MitOP Units shall p~y to thc Municipality or other Taxing Body such .amount ~s am or could be as,~e,~ against the Development). 6. It* by reason of the Municipality's or other Taxing Body's failure or refusal to furnish or cau.~e to bc furnished any public services or facilities which it has agreed hereunder to furnish or cause to b~ furnished to thc Authority, the EDA, the Owner or tenants or' the IH/tOP Units, &nd the Authority, the ED^ or the Owner ot' the Mi'lOP Units incurs any expense to ob',ain such services or facilities, then the Authority or EDA may cause ro be deducted the amoum of such expense from any PILOT duc or to become due to thc Municipa[ity or other Taxing Body in respect to the MHOP Unit~. & 2 2 31~F--------------:~ 14:31 I-I~_mES 8, F._.~I~E¥, LTD. · 612 49:3 No Cooperation Ag?cement heremt'0m entered into betw~ tha ),{uni¢tpality ~ the Au~o~W or EDA shill ~ construed m apply to ~y ~OP Uni~ ~vcmd A~eement. NO mcm~r or' ~e governing b~ or shy o~r public o~cial o~ T~xing B~y who ex~cis~ ~y ~ns~ilides or ~ions with m~¢l ~ ~e ~HOP Uni~ during hb~er tenme or for one year ~er~R~ sh~il h~ve ~y the ~HOP Uni~ or ~y pro~ includ~ ~ pl~ m ~ inclu~ in ~e ~OP UnJ~, or ~y ~nu~ in ~nnectioa with ~c ~OP Units or ~. If member or such o~er ~blic o~cisl of · T~ing B~y involunNcily ~cquims or ~d l~uJr~ p~or m ~ ~i~i~ of hJ~er ~n~ .ny ~h in(eresk h~s~ sh. II immgdi~ml~ di~lo~ such in~ ~ ~e Au~ri~. Dung ~g ~xcmption Period this A~~ ~11 ~ot ~ abram, change, or m0di~ without ~he consent of ~c Govc~t. ~ pHvilc~s ~nd obli~tions o~ ~c MuniGi~li~ ~d other T~ing ~ies h~eu~g~ s~]J ~ rcma~ in ~l] fo~c ~nd e~ec~ wi~ ~s~ to · e ~OP Uni~ ~ long as ~c b~c~cial fide to ~ ~OP Uni~ by any other public ~y or go~emm~ml ~ge~y, inclu~ ~ ~v~men~ ~or~ by I.w to rnpge i~ ~e ~veiopment or a~in;str~tion of I~nt ~us~g p~oj~ts, time ~c ~ncfici~l title to, or ~ssion oC ~e ~OP Units is ~ld ~ such ~cr public ~ or govc~en~] agcn~, inct~ing ~c ~v~m~ ~e ~sions ~r~ shall ~n~ to thc ~ncfit oF and may ~ cn~or~ by, s~h o~r public ~y or gov~mmen~l including ~e Gove~e~L 0:l*~d'Nk ~ Z3~0~ ?~'P*.TXX: 4 ~ J ~ EDAJ, CTT¥ OWr NI:"~/~ LA. SS ~ 'ty:)~ Holme~ & G~y, 1200 One Financial Pla,~t 120 South Sixth St'met Nffjute&~ii$, ~ 55402 612-Z~-93~ 612-28g-94~ ~x~ pAGg ,I~/GS,,~G 14:1tl HOLPIE$ $ C.~l.i'e, LTD. · 61~ 493 IN WITNESS WHEREOF the ]~funieilMlit~, the ~-'DA ~r~d s~gncd ~is A~c~nt a.d ~d t~ir ~als to ~ ~x~ ~nd ~d ~ve ~. ~~S P~LIC BOUSING A~O~ OF ~~L~ Its Chairman Atut by_ Cora lvlcCorvcy Its Executive Director nASS