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