2018-03H HRA ResolutionMOUND HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 18-03H
RESOLUTION AUTHORIZING STAFF TO NEGOTIATE THE
TERMS OF A PURCHASE AGREEMENT FOR CONSIDERATION
BY THE HRA BOARD AND CITY COUNCIL
WHEREAS, the Mound Housing and Redevelopment Authority of Mound, Minnesota (the
"HRA") owns multiple parcels in the Mound Harbor District in Mound, MN; and
WHEREAS, the HRA Board approved the issuance of a Request for Qualifications and Interest
(hereinafter "RFQ/I") in a Townhome Development in the Mound Harbor District at the
November 28, 2017 regular meeting; and
WHEREAS, the HRA Board directed staff to invite three of the RFQ/1 respondents to present
their proposals at the February 27, 2018 concurrent meeting of the Mound Housing and
Redevelopment Authority and Mound City Council; and
WHEREAS, NHH Properties withdrew from consideration on February 16, 2018; and
WHEREAS, two developers, Homestead Partners, LLC and SVK Development, LLC, presented
their concept plans and development proposals to the Mound Housing and Redevelopment
Authority and Mound City Council on February 27, 2018; and
WHEREAS, presentations of concept plans and development proposals were received and
carefully reviewed by the HRA Board of Commissioners and City Council; and
WHEREAS, while both organizations are highly qualified, Homestead Partners, LLC was better
able to demonstrate the ability to meet the stated objectives of: (1) offering competitive price for
the land and maximizing the market value of completed development; (2) desirability of concept
plan to balance intensity of use with preservation of public enjoyment of the area; and (3) ability
to complete the development in a timely manner and to independently finance all improvements;
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Mound Housing
and Redevelopment Authority, that Staff is authorized to negotiate the terms of a purchase
agreement with Homestead Partners, LLC for consideration by the HRA Board and the City
Council.
Adopted by the HRA this 13th day of March, 2018.
a4,47� Chair Mark Wegscheid
Attest: Catherine Pausche, Clerk