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Home My WebLink AboutHousing & Redevelopment Authority Packet 04-18-2002HRA STAFF REPORTS APRIL 189 2002 AGENDA PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY THURSDAY, APRIL 18, 2002 7:00 p.m. WHERE: Medicine Lake Room Plymouth City Hall 3400 Plymouth Boulevard Plymouth, MN 55447 CONSENT AGENDA All items listed with an asterisk (*) are considered to be routine by the Housing and Redevelopment Authority and will be enacted by one motion. There will be no separate discussion of these items unless a Commissioner, citizen or petitioner so requests, in which event the item will be removed from the consent agenda and considered in normal sequence on the agenda. 1. CALL TO ORDER - 7:00 P.M. 2. APPROVAL OF MINUTES 3. CONSENT AGENDA* A. Plymouth Towne Square. Accept Monthly Housing Reports. 4. NEW BUSINESS A. Plymouth Town Square. Opening of the waiting list for two bedroom units. B. Explore funding options to acquire properties that contain right of first refusal. 5. ADJOURNMENT ACLVAA. PLvMOuM OouwG AND Rli; mvnAP111l;N'1' AunwR 'IY TMMDAY,.AML 10,.nU 7a90p L WEMM N9t adw Latin Room Pbmauto CRY no 300 Piymotttb Boalerard Fb=ntkmNSSN7 CONSBNT ACBNDA av listed with ao asterisk r) are oorwiderea to be mthm by die Hoa Wg w dRedewtiopmRatAatboftandvMbeCoOdbyammudoL. Um grill be on sepQate disotnslon of these items eedm.. commimjow, ejd= a - "'I" er ao eek io.wbieb awmt the loem will. be emnred Som do =now ajenda and oomldered in nomad aeartenee ea fire mrendd L CAW.TOOM -7:90M 1 AWROVAL OF NV4 T ZS A CONSENT AGERW A.. PbaaoTISwftSqmmAwWMaoftHwzftRWoft d. Nw Busumm A. It aiol0 Thw Sgatare Opanirrg of the waltirtg !at Por two bedroom moft B, ft*mso =qujm V mV u ies &d eoatain dW of Scat talitaaL ADt100BItII UN'P MINIPI'ES PLYMOUTH HOUSING AND REDEVELOPMENT AUT®ORITY Mande 21.209Q PRESENT Chair Susan iiendm% Ooaomisaleners Stave Ludov wA. Tim Biidsoe, Sunftr Hewitt and Lean &Gcblb& ABSENT: None STAFF PRESENT! Encolive Director Am Hum Ding Manager Jim Barna. and Office Suppat Reap osco dve Barb Peterson OTMS. PRESENT: Jodi Boed ftsisKr. Once Nagel Represmosativa 1. CAILTOORDER A meedog of the Plymouth Huvft and RedeYok"M Autbaft utas allod tD audit by Chair Ho detson an bbnb 21,20M in US pm 2. APPROVAL OF WRITESES MOTION by Dommissiater Mwbbbck secooW b, Come -a Bildm reoomramding approval of dee February 21.2m urinates. VOL S Ayes. Motion approved maoimaesly. 2. CONSENT AGENDA Commissioner Hewitt ngarsted that the Pbuwah To = Sg me lvioo ft Repot be pdled Sam &a aomeat ageoft for dlenumon A. P%—mm Toarme Squire Iter Repast Commissioner Neurit i gdmd aboA the roof hmk noted in the FITS momhdr report and ad and if it utas Nrom dee ariginsl roof po11em. Hi blem is that two roofs come together into a valley and without much sun is that arm the snow backs V Pat *a ice and water shift He said that tbllotrmg imtallmion of heat tape the poblem should be aonecmd Commissioner Hewitt asked if it was the name aporI - that had a leakage problem boyar. Hogg Maoaocr Barnes said it is ane of them d m received intention host year. Commissioner Hewitt asked if these is a plea in place if the hest tape or the roof saddle doesn't work. Housing ManagerBarnes said we do oat; Ms. Boedighaaeer asked if SELA Reeding a iosmlliog bead olon. Housing Manger Souses stated that we are not addressing the imnletim issue in this time. Commissioner Hewitt ioquind ifo, rdimd for the inconvenience of the kI V should be given to the aImait resident. Housing Manager Bois said the kdmp J 44 • r Pb=Wh Housing 21.21 and Redevelopment Ably MorchPaget hes not been meet extensive and mo personal below have been damaged. He mid we will comimme to monitor the s umum, Commissioner Hewitt b gwmd about the hods umA 3r Plymouth Towne S"m Director Horlb a t replied*A the MRA's f mmaces of Pbmowh Towne Sonne was handled as aMvate the Bond Holder. The HRA is abligmted to pay the p incoe and interest an the + Cau misdamet Bihdmoe inquired as to bow mange prop qmm thea we at PTS. ?& Boediglr 1' I said mar are appro m t* 60 stalk She added they have all bee reread until moteft. OPdoos for renal of the utaned stdb were disame 'but will mot be pursued doe m senniq and lisb ft raag m b k Boedighdmc said she believes the problem will correct itself ohm the two beioom umis are Mkd, 0amm1ss11 , Ludovisde arrgg I W that we omomiomr the situation closely and stoned that he prefers now for the reaidmts' use ort, MOTWN by Coamm" ' I - BiWsoe, seconded by Cat mosiaionet Howitt, approving doe Ph mova Towne Saute moth j report. Vote, S Ayes. Intodm adopted mm imousl, 4A. P%gmoMb porn@ Sgmmm 3MRcv6ad. m fS w Ham Manager Bones sorted thet thereflectingreeommmdedchangesmthebudgethavebeenmade. ik explained that oo the acpmdiaue side m a ustment was made in salaries of (525,114) the neduerion of ane full that employee. He also reed that two a4usu mts wee nada in me Add Back Nm4Cash hems csmegay. The. first. hum, m aro: in me Reserve Replsoemeot lint hum wag ma ecud m the spradsheet and the 349,500 Showa iS mar the eorect annum. The nand a4muo nt in this camegary wag the removal of me rt*mmmt of the sidewalk them is ddarkratintg and 510.000 was added back is The sidewalk was repaired rather the re11 -A Hauft Manger Romes exp" i l that io the memo of November IS, 2001 the annum of Aulds mat was to be teemsfared firm reserves m have a balanced budget was inmorrect, The shortfall reparud was (513,835 but ager further review and taking iato ceaddmdm the dmnga in aepm "I , the dwd& l is now approanimu* (:41.466), He explained therm the reserve accoumms cunt y have a beknce in 1 — of5418,116. so thereon sulliciuslands to cove the detiat Housing Nla8a Bases add that me rents will decease by approximatdy 52,000 for the 2002 budget, Commissioner l udovbsie asked why the rot amw m is now buyer than originally pKdicud. Hmf rxploined that even by using a 3515 stamdord.9cat a toots mould She stow dothig tigan cold chop oma staff hag ruatMP the residet`s imcarrme bagel m mmade to the ram sonrcmne. Chair Hederson asked if those oe the only lima hums them wed, Ilorrsirrg Manger Bones replied ath'irmemivdy. Pbwm* Housing atd Redevdop wAs Autb0 ft M" 21, 2002 Pqp 3 MDTMNl by Oommisdoow Hewdt, secowbd by Ooamdsdaom Lu*wissi% to appove Me revised 2002 ,p , m' g budget fbr.Pb WA Tome Sgwm Vote. 3 Ayom. Maioo 41. Prepssed Chm"m ms Pbrm wmlh Teww Square Advolool a amd Oaop aq HmmRA t Tf@MN=Tbmlkn Hamitog Nt=W Banes aimed tart tpe revised Pb wA Towne Soprano A mrd Ooeotpanry Handbook is melmed in"a mdbmd voraim m wall m a dem copy. Chlor iledmsoa atloid if Ma ostdboot is issued toresidtaom: Direntor HmUutt tepUed Mom k is tett mrd et bOioad Mom tRis btm ook is the PbRercego NRA's dir ve tD the msooegemmm aompmoy. Hamoag Homages Sams explsioed Ma maw fill terns and aomiaaam rima. M tetom have bem set art 5200 Ar a oma abloom omit attd =300 far a tout beooeom wit. Fdl muk et tvmom ate 782 fbra oma l I mm n mdt mrd =1,001 !bra two bedroom mrk. We vM toow tree 35%afMeir atIttstedmeolob hwmw basae ditdlonttaocetoddmmimathermidemmpetdwafthetem collected. 31 ' hhmmew Dames tamed that 5% will am be used tw ' i osittmg imoome m assets Mm ate gteoemer than =5,000. Ibis b m imcmm f%m 396, wM wm the l a dom polky m aluddlog unts. Par amoomms bas that SS,000. mud income eeraed an the insets wolf be mid. b6ma2a Beeoasasplemed to mwpobc7 nbuS to pew amgoittg taro bedroom vm b. A simgla pssm wiU be mgdnd o mewe to a am bedroom unit bayed m edw Meir willies to do so ar their poshim an the aai ft Ua. wbicb will be daamiaed by a h obey d<awing Udy dtxdine oo move wbm it is their ten, within a 60 day time period; and so me else m tots list elects m move, that tem will be masted to full muloet ow Por talo bedroom. attire. Hwjfmg bhoW Bermes sttmed Coat Ioe Woomum im.dame will be September 1, 2002 for edsting teidems. 71re tem structure Por crew tmsidetms and the policy regi singles m - vying two beleam emks will be d&Wm Apil 1.2002. Comadubmer Hewitt inked whim the tmnovmr time bm bran farm bedtoom writs in doe lost yea: Hoeft Manager Barnes smmed Mom 8 me I , I m a -ends maid over last yew. He said dam in Ma mot bw years them could be mate than 8.10 omits per year due to Me -ting of tesidmom, Dommiadaner Hewitt asked if the waiting Ua could start wiM very low wAddia. Ditector Huelbo t es<pt*A Mot very low subsidies will toot be in eflixt after Sept. 1, so it will be m a vok tow basis and then by lottery. She also emphiond dont raidtxots omi og Sem two Won m remits iamo oma bedroom mods muhi bar digibie for auiamooe from Pbmma Town Sgoome ft bmidoomal owwwS expemea. Oottomisdaner HmW inked abeam Me ome flame far =WAg Som two t p ' n n s to mer I edroom moits. Obecow Hadbwt said the policy would be put into effect right away. Pbvaowh 8 and Ra pmatt Andmily Martie 21, 2002 Page 4 Comimsimiooer Hewitt amaed thea Ise cutteoa bwds of aunt umil Sep. 1, 2000. atnd , hvpbW as to saw the raw qW= will woe, wdl tbm Ms. BoediglAw asked if Isey ca 4 SM wits the very bw MANWks *ft there is as in bourse waiting Oat for ttoae. Divacm 4 Huebm said &aa we *mM bave everyone at the bvd tAay ate at tmoW We reoab8oelim Pa= is oompk%& Ms. Boed *Aimw added if the Sep, 1, 2002. dame is for all teaideaas wid vaaooepAiang, Director Haebm replied atBtmativdy. Cammsw om Ludovam asbed above dee pet policy, inquired as to bow matgy ped there me m the bttuNW& and ifft swift deposit AWA W berevmd. Ms. Roe'19 ,mer MM Sm on as leant Eveamand nae bird. WS '10dm I said Were is a deposit Ro and someftm a mooftfea.farapdaaalseraparonemctcontplaiceslsettOttaoeMmssBemmamraaea. Steatated cera isa Umh ofone pet pw Im PIS. Direcsor Hu mt.a&knd ifpeta ma king registand wbm reoerotka*m me palatmed err bane raee+arab are dtroe. Db mw Hmlbmtt aurggested.aM'mg bogmpu the pet policy than all peas and to be Hoer M wilt, the aW. Commbsioteee l ttdwA=b &tam@d *Aho ft the uet ft nandficmion regWremeo- of repoadog imam of $W ar mere per mm& wan too bw tan Bgme vena bttrod.m Section 8 gd&mundwe are trying to beep the policies Dr PIS a close m tan Section 8 potida m msoft i Chair ilendersm asked tow Ise Adtmhd= sad Ooo'4mq Haadbo* =Wd. bo 000sftttmed m it %vwM not bave % be m%isedewxy time dee ratan are demged. She mggeated putting aU time dated moa ittao as anwAx. %A also inquired abaw the r fwd to HUD ender Campamatios of A=wd brooms and @shed if it nag a good idea to tie do HRA m HUD mtmbas, Dkocow HwAbmt uW it is based as the mmeal dredge& in median income m determined by HUD. Clair llmdersm iogtured abaw the aegios m Page 8 of the md4imd v xdm R to Unit t Sire and Ram". Stn said the aboald be crossed out Cbir Rendeeaen ° suggested moving rens dm to m appendix. Director Hurlbnet stated than the rotation is amOR to rad and bftw in db tbrm 1 WO the reaati6caan p umn is 6 i*AmL She also r °•Lstatedthbbn&& is tar the ant,' of the momtga and she is Ibmil w wild thea Rretoct. Chair llmderaon:lamed *aa Page 25 of dee md4imd edieias Section 8 terns sad wondered if thea is v*A we talq ties ns aft HUD ralbt wma. Director Ilmlbmt said we oonM Cb mage the de8oitian to cad "hs determined by the HRA". Housing Ntmnga Barnes said the &d dreaga woad be made An *A teoa ficeaim ptooess hen baa aosepleted. 'F Disata was bald m Section 8 Fair Maeket Rua (FMR) limits Commumom Lubvmu @shed ifthese is a and to beep the Saban 8 limits and wbt*m ram - i n at get too bar Por ' and mts a quft. Director Hwlbmt soil they would sot get too low bw ft cwAd get too W& She mW if we mm the item reS ling Sccdm 8 FM's thm the Band wmld need to k act m the chw*s nada yar in aider to o4um the mmsbas for Wymowb Tom= Sqm m Cb* M f PbvwA Housing md Roclimolopmw ty Merob.21.2002 Pages 7) Henderm adwd if the HRA would veanut 0 be W&,cd in ft v= manges sub year. Director Hodbwt soil another option would be to say tee raps will be dommieed by die HRA to be effective in a dated month each year. Housing Mantagcr Boaaas aWked wbm dee cart survey is done. Director Hwtbmt stated flat it is done in August or September, but -it is a ooft 0 -tab u befae the aasw FhWs are approved, The Bowd decided tbat earls wadd. bo utpdeted in Jammry. blasting in 2004 and that the taogutcge in the Admission dad Occupancy Handbook *odd amts that the HRA will dttamiae the Fair Manket Rem for PTS. MOTION by Commbdoaer BHft% se000ded by Cosmabsianer Mieelit mk appoviag de mvW Plymounh Tawas Svw Admissions and Ocaupaacy Handbook. Vote. S Ayes. Madan appaved WAMW a *. Hosing Manager Banses espteuoad the bando% wkim v= disttibuled before the mentiog. 1t renes to an Meaopolitan Homing Oppo ha ty Fmvmn OGM MR% which were pevkmlr dismm& He said Weiss will only be 10 unties ranter lboa 20. The HRA is not reg d , 'to be a pww % the a6 Me Met Council is aonfidmt deny will find units in Ptymaeph to meet their ce'I ' Oomodulooer iiewitt eked if due Met Council chose tq cbenge it to 10 nnita. Homing Manager Bt=ts tephed yes and it was because they did not bave enoutgb fdaft to complete 20 uma'es afi Wis dme.. Comadmw Lwbvisdc comp imemad deo staff on tlee dossing forum. Director Hwlbwt sad dmf Redneck bas ban poaMve. D wAdm tb bwed.rega ding The dousing &=L Commissioner BM= m4psud inking about saw to haatfie The We of Hassell Creek TwoAosses and the MWs right of lust eefind at ow tact tee ft and Hwft Mang Banner said flay would mate sure it was m Ids a gaada` Adjaauest Meeting a4wwd at 8:11 J id Teo: Ams Murlbart & 4M earrase F=mKv"IP,jm%ll of mor. Towne S*ms o.t.c npra.tt, 000: Rf PT81rorMAb Rapat for fiiaA 1006 Apra Nrwaletler aml Caleoader attaslaed Moo began with 96 urd s oocapied In addition loft two caoefoher urft We eN have apamrrm lK a iwo4mm oornunR arrelhbla. Ho ane anft welt a wank alae aparbro 1 elven with ae new revs eloucbne. We are waft for dbectlon frau the MRA befooe prooeadbg bd Ur One of our reeiderrte, Sops Oayle passed awsy and aneaer reewent, oorathy lever. lost her dauglaer. Rulh Sdbnen ln906, wed to a lon6 tens cue oe i l l t oil Ci dderrton In aparhneM l2B wM maloe an bdm. more to apwV gem 906. The carpet and Maden *0 wM have to be replaced in 906. Cando wax was dropped an ae Aft room carpet several bears ago and the MMmn has spots that carnal be removed and are deep in the Onoleum. We reoenred nafta from another reeiderrt who gave up her garage space as of Apra l a, We now have 10 avdWW, spaces. PUMOpmalwo Root•Mlallc Sewer SwAm was hors an the r to water jet aD laiden lines. We have had no compabrts at suds badup In idWm sinks since We was done. The-painlerwho has been hired to paint aparknords of d reskkM who have been in ae btd ft for seven years, palmed are foam entrance. Siding from under Me pofto and fasda blow off lnthe windstorm ae first part of the month. Kathy is in the process d geabg bide to repair i1. LVA The radderes had tlreirmontlry Nan Lunch c,-. March Band tl%* GM TwBettwr dtrM c n March 13P- The pencehe breamW was aft Z9"! Theileetientawetobe; ftbio tw ft nteident Junk The sL Pat Day POWwaaonft1801. Lyndon Geon was ft W&gftkwvx& Our volwgesr temw% C1w* ftft was here for sevadt days 10 do fire mdderd to tame. A mpumajo thornCM10veIdemaieewashereat. Meroh le to teach about aeativa ways to melee phobabAmwdscrepboobwtharereeideis, Joeephine'e Apparetwas here on fhe 2b". Mark hat been hired to build t1re Finefe to the party roan. His bid was $1Zf10. The HRA fres approved $1,000 towadb fhte amount and th Reddant F !nd wM meheaPftdftmrwLHewillalertaanatbneinApriL we oo"thm prooeselnp reet ent .. twee. ITOWNE C12ER AW12002 IN ARDIS FUNDER 5 Apt. 107 MARGUERITE LUCAS 11 Apt. 224 JOHN HACKETT 12 Apt. 312 BARBARA RIDDLE 12 Apt. 329 RAKHIL RIZKOV 12 Apt. 305 PERM SMITH 12 Apt. 209 LOIS CHRISTENSON 15 Apt. 126 DONNA KNISLEY 18 Apt. 304 DOROTHY TELL 21 Apt. 235 KATHRYN LENTS 22 Apt. 323 ETHEL LARSON 24 Apt. 118 VIRGINIA NESS 24 Apt. 103 PHYLLIS LAMBERT 25 Apt. 119 HELEN FLEMMING 26 Apt. 314 BILL LAMBIE 26 Apt. 132 CLARICE SEVERSON 28 Apt. 110 Vera%. we ;AU ft PRAYER GROUP MTV Lois Brant will be starting a Prayer Group in her. apartment (208) on Friday, April 12th between 10:00-11:00 a.m. Everyone is welcome! 1 10 a -jut SPEC/AL MUSK KITCHEN KUT UPS April.23rd 1:00 P.M. there: will be a $1.00 charge to defray the cost. NOON LUNCH April 31. — 12:00 5.00 Chicken Salad on a Croissant Cantaloupe y Pickle. Potato Chips Lemon Bar Coffee APRIL Sw IN THE DINING ROOM!! i rlr*40 DID, YOU KNOW? r, Daylight saving time is April 7,0 : Spring ahead! National Volunteer Week is April 21 st — 270'.: All the windows in the building will be professionally washed in May. The garage will be professionally swept in May. There is a box in the Activities Room for Campbell Soup labels. They are being collected for school children. We are in need of volunteers to serve on the Resident Council. Talk to MaryKay Gormley. There is bacterial spray in the kitchen pantry- to use on the tables before for -1 is served. It takes 3,000 cows to supply the NFL with enough leather for a year's supply of footballs. There are times when you have to change your MNWto keep the HAAWONXI" Chewing gum was originally produced: from the sap of the "chicle" tree found in Central America. Remember Chiclets®"T Where is a small coin purse in the of . ce that was found in the parking lotl The, best way to have the last word is to apologize." NATIONAL VOLUNTEER WEEK &A 211d - 276 National Volunteer Week is a time to recognize all volunteers. It was President Nixon who first signed a bill to establish this celebration in 1974. So as you read the list below of volunwrs in our building, think of what PTS would be like without theml Thank you volunteers for all you do to make PTS a better place. Coffee makers and coffee pot cleaners Notice deliverers Ticket sellers Quarter sellers Resident council members Bakers Servers and clean up Berry sauce maker Dining room decorations Table setters Sunshine lady a 1.'brary Plant waters Towel washers Garage cleaners Shoppers Pancake committee Noon lunch 4 ` Bingo organizers Treasurer Kitchen volunteers Garden committee + Entertainment coordinator Towne Crier assemblers Drivers Organ and piano players Church organizers Computer instructor Card playing organizer Get Together volunteers Clean up Party helpers Holiday decorations Befriended! GARDEN PLOT! If you are interested in a FREE garden plot out in front of the building, please sign up on the bulletin boardl We will be dividing up the plots up according to how many residents sign up. Not more that eightl Each resident must be responsible to water and weed their plotl We will draw for spaces on May 1 st and post it on the bulletin board. If you have any questions, contact lee Olson -(307). 6MI. WHAT ARE VOLUNTEERS? Volunteers are like Fords; - they have better ideas. Volunteers are like C%ke; - they are the real thing. Volunteers are like Pepsi; - they've got a lot to give. Volunteers are like Hallmark Cards; - they care enough to give the very best. Volunteers are like V05 Hairspray; - their goodness holds in all kinds of weather. Volunteers are like Standard Oil; - you expect more and get it. But most of all, Volunteers are like Frosted Flakes; they're are GREAT!!!! I I tf 2l: l -7' Springtime in Minnesota AWW71 Wlir Tr -Tv Tr April 2002 Monthly Planner 7 2 3 4 S .6 390 PM 8Ca1WAN 8 9:IS AM O kaYift 10:00is &uOAMO 0y 1000AM Ra hkw b.30 PM GaMaer 6R0 iM Grds (8m.) 790 FM BINGO ssmlmumd131009:30 AM Mafspsb Fb RNDeNT C&%o IIRA NP.8r= APRIL FOOLV DAY Sim FM CWW-') NOW LUNCH 790 PN IMN¢O OW& 1100 11AP" FW FWTCARR 190PM TCP GAMINGIGOFM/ 3/13 Cods OR 7 8 9 10 l 12 13 fWANChmorste 1:30 FN IIIIA NWr- ld ilQL 1090 AM I"011u1y 1090 AN KcSWM 10100 AM FRAYFaI 490 PMI Cods(ITm ) lerYfes INC (W Iwo br& spL 30 AM MedsQsb 1:30 FM 3/13 Cords DR Collar GROUP OAYYCHT SAVING nimmoo9 790 FM BINGO 390 PM Csp/(Tsti) fs70 PN CeT TOGRT11n 1100 PN Re61OPJ11T COUNCIL 190 FM CsrOs (Fri.) TIS 790 PM BINGO 6J0 FM Gama 14 15 6 17 18 -! 19 20 fOMOmb 390 PM SCHWAN'8 9:15AM10:0 AM Bible Bu* 10:00 AN Refs" 1 W PM Cods (FI.) 10:00 AM BIaO 7:00 FM BINGO9:70 Al Q 1:30 FM 3/13 Codi OR Collar 6:30 FM Gama hams 90 PM CsrdrRos.) 790 PM BINGO 690 FM Cods(Bm.) 21 22 23 24 25 26 2.7 790 PM DINGO 1090 AM Bibb "Wy 1100 PN RSSIOZNT 190 FM Cards (FK) MAN /nabs aClaaeM 9 30 AM Meds pub 1:30 FM 3/13 Cods OR uzcnNG b30 FM Gama Brab4w NATIONAL VOLUN- 1100 PN inNi II 790 FM BINGO 60 FM Cods (0m.) TLUR WUK (31-371 KUT UFS MO AM COFM 590 PM Car Wl NMOMPELT F00TCARe 28 29 30 9.00 AM CMweu lelriu 390 PM SCH WANS 790 FM BINGO 9:15 AM e1.1.AAie. 7e, 1 WT. V s s M 'I"1 T riM30 Af! pub 1! 1 W N IsIf90PMCads(T11s.) n I! Il N N W Wr „ A M M ro 11 s1 D >r e ri. !7 7 1r M N DON'T FORGET TO SET YOUR ALARM CLOCKS AHEAD ON APRIL 7TH. n ASSETS% PLVmQUTH Tomm SgAmm 9ALA"M SHEET FEBRUARY 28, 2002 CURRENT ASSETS 13,,73 PETTY CASH a40CHECKING - OPERATIONS 89,114PREVIOUS -CASH OPERATIONS 17!566PREVIOUS -SECURITY DEP CASH 38,208PREVIOUS -PETTY CASH 1,:55A/R - TENANTS 189) INTEREST RECEIVABLE 007PREPAIDOKKERSCOMP488PREPAIDS - OTHER 207 TOTAC CURRENT ASSETS FIXED ASSETS 13,,73 LAPID LAND IMPROYMENTS 459,247 57,648BUILDINGS FURNITURE 6 EQUIP-GENERAL175,1c^9 5,652,876 FURNITURE 8t EQUIP-HSKPG 1,015EQUIPMENT -COMPUTER 7,658 ACCUMULATED DEPRECIATION-@ 155,167 A/D FUR" & EM.' -!V -GENERAL 1.9 5''-'8 a ,-Al) TOTAL FIXED ASSETS--+ NON-CUM-%ew. ASSETS INOMI4ENTS-CONSTRUC FUND 13,,73 IMYMTMENTS-WORKING CAPITL 449,520INVESTMENTS -DEBT SERV FUND 599,043INVESTMENTS -CAPITAL IMPRV 190,190UNAMORTIZEDSTART -UR COSTS 2,930UNAMORTIZEDORGANIZCOSTS155,167ACCUMAMRTZ-0RGANIZ COST 90,447) NON-CURRENT ASSETS TOTAL ASSETS 1.16,160 4,824,9992 Ir3i9,778 6,260, 9i 8 PLYMOUTH TOMNE SQUARE BALANCE SHEET FEBRUARY 28, 2002 LIABILITIESo. CURRENT LIABILITIES ACCOUNTS PAYABLE TRADE 14,719 ACCRUED INTEREST 71,034 ACCRUED REAL ESTATE TAX 31,637 ACCRUED MISCELLANEOUS 11,603 ACCRUED SALARIEWMAGES 698 CURRENT MATURITIES-L.T. 112,750 TENANT SECURITY DEPOSITS 33,413 TOTAL CURRENT LIABLITIES M 275,854 LONG TERM LIABILITIES MORTGAGE PAYABLE 18,375) BONDS. PAYABLE. 4,766,750 TOTAL LONG TERM LIABILITIES 46748,375 TOTAL LIABLITIES 5,024,229 EQUITY= CONTRIBUTED CAPITAL 1,000,000 PARTNERS' DEFICIT 185,267 hcTAINnD EARNINGS 33,665 TOTAL EQUITY wN :, 218,9 CURRENT YEAR INC01'IE (LOSS.) 17,767 TOTAL LIAIILITES 6 EQUITY 6,260,928 moo asleoanrto rror;s,l rrr!lrrr9 a a rralarl!!!!!!!! sari IrDaaDOD t< l rrrr,9rrr JIM Nam p ago an.h erWA aq U 1 piM 40 m pit R4! arnms Mar- tow a, WA 19A41 w1 uwrnw< 1ns' r o WPI 'IUfi a Llai lair AM NAaI (Wit So= ua1 uD.n rat ooialr 1 =AM IMA 430 Uoi!!1 101.11 low O rXNMMi F - @ I IMOD i auulr rrrla aelar u! 111!) 1100.9) wun ! 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Asda n<Irimr 0 m on a la) IWA1 a 911 am 61= a191r a 1a1 UNA1 110 to UNAI tri erns 19001 Is to" INA) is Ual 11141 101Won w f,fOfn#ni1U.I1 1111111111n= rima 10060111100 Mat 111 111 Oe i 11 1111= an areal alas owe WMANU ago 1,01 UP 1.4xN1flalIL7I ism SPAS 1.111 A mom am Ow own, waft 4 MR rms Ow M1,1/0 1,1!0 4°° Io1 1 IIE4t 10g1ie1 /fl am sml{ u IIUI 111PA1 771 11.0 idtl0 PA 1 1 18,1 0.11 WAIMwNwRLwW= ff few 7m i'w N La am 1 v 711A 110 1014 0110/10/ am1i1,1 IIOOA, 17,101 1a sm 10M) f01411M109 pool W;11 IeOH AAO MOM fM.1) w 1.7,1) (0.11 117,110 ILIIQ J/A . I j , CITY OF PLYMOUTH 3400 PLYMOUTH BOULEVARD, PLYMOUTH, MN 55"7 DATE: April 10.20M lar Housing and Redevelopanmt Amba ty Mating of Aluil 18, 20M T Hausiog and ft l m d opmxat Authority FROM: Housin8 Mmmm4 &QUO Acme Mhut. Executive Director SUBB1lWTr Opab g of tk Pbrmoatb Tbwaa Sqw Waftg Brt Por two be hmm li& BAQCGROUND Oran the past hirer moods% Staff. along with Grace MMMMM has been mineft Plymouth Towne Square (PTS) to easwre the facility b in good physeal coaditico as wen as mkmiog the poftims to beep them up to dace. As a ma dt of this review and the imphmmoud by the HRA Bond, Staff and Grace Management fel it is neoessery to open the waiting No at PTS for two bedroom amts. The change which wnl but the most impact on err ability to hoop two bedroom units occupied is the Poncy requiring single residents residing in two bedroom units to move to a am bedroom unit as they become aveilable. We currently have 19 residents wbo will be affected by this chmp and we will begin to ace a need to fill the two bedroom tains they cwm* omW as we otaaddm the residents into smaller units. As discussed at recent Board mudogs, onsite staff has had some diffcculW in Ding two 11100 wits utiliang the cument waiting IiSLMayoftbeelWbicappfitwftondowaiftg He have dm med the oppomamity became they are not re* at this time. n should be noted that each time an applicant of nes an available unit they receive a"mW and when they have owned down a unit three times they are removed from the waiting last all together. We cormaly have 21 appReacts an the waiting he who are dWbhr for two bedroom units, Recently we had a two bedroom mut become available and an of the current applicants have refused this wait because they are not tear at this tine, so the wait temains vacant. DISCUSSION Staff abmg with our managernart company would like to open the waiting list for cab apPlioaots that woWd be eligible m rent a two4edn m unit. Staff proposes to open the waiting list in the following manner. 1. The waiting list will be open to appliaMs who are digibte to kale a two bedroom unit under the HRA policies. 2. We will advertise the opening of the list by placing an ad in the Pbmwum Sun Sailor, posting flyers, and the City's web page. 3. Applicants may request an upon betwem a twoday time pedod, which we we tentatively setting as May 1 and tad of this yem 4. Applicants will be dMe to request an applicafm in person or by laving their name, address and phone auadta an a voice mail which will be ad up specifically, for this purpose. S. Applications will be accepted through May 20, 2002 and will be date and dme stamped to demrmioa placement an the waiting liaL Owe we have received the applications. the on-site staff will review rho applications to ddennioe digibift for placement an the waiting list. Once this has been coma toted. the maize staffwill prooeod acacording to the Ad misdm and Ocmq a y HwAboaL l a Itb! tie P4rmoatlh lgadeg and Nedarelopaat Andbe y Board of oaeaa Aw&odw doff to spathe Pbmaatht Tawara Squome waitbq list aeamdi g to the oudhad in this demo. mr 1% Waftat M aa:e&ws UM a. 40) CITY OF PLYMOUTH 3400 PLYMOUTH BOULEVARD, PLYMOUTH, MN 55447 DAIS: April 12.20M for Housing sod Redevelopment Au mity Meeting of April 18. 20M TO:P Hansmg and Redeaelopment Autharily Ada— FROM: b . fla mng Msoager. to Amnimflmf.'Rlr m P allvs Leactor SUBEWP. Bsplose OplbosRr psep m ON s abject is the Rigpt of and lltllisd Curse BACKGROUND Aide Bequest of the Housing and Redevelapuicult Audimity (HRA) Board of Commiub=M Staff has pulled together informeioa regarding aBtaim properties which the HRA has provided asaidme ad has ertemsed Declarations of Covenants. The Como is provide for mtterded affordability of the home boycod the initial sale. A Deehuafroo of Coveoanta is a.legal docrmtmt the is tilled with the eotmty and provides for certain restticdm agsine a pereel.arp meat of land. Mmy Homeowners As ociad m have restrictive eovesuft filed a part of the association in order In mm consistency and amity within the develcpmoL Provides of affedable hmms often ase this teolmique en well in Order to phBce certain restrictions on the property, most fly to provide for affa ddAft over a period of time. The Plymouth HRA currently is using Bm active covenants an two devebpmenb. the Village at Bassett Oreek and the Reserve, copies of wbich we attached and marked for your review. Owe the Reserve development is complete there will be 32 units with Covenants on them. The. primacy mmictim an the MWs Covenants requires the edafmg homeowner to sell their house to en income-qu lifyieg buyer. The Covenaats also contain the provision atlardbig the HRA the Rift of First Refim , which want before the current owner can list and sell the paoperiy an the bpm nuzkot they must first offer to sell it to the HRA e a price based upon a formula in the Covenant. DISCUSSION Recently the HRA was informed that a current owner at the Village at Bassett Creek was wMing their property. Accordiag to the requircumm m the Covamnt, the owner offered the HRA the y8. Right of fhrst Refiner. The HRA had to decline this option becmrso of dime ooh in ten Commit that required us to respond witl& 20 days of bang notified. Bautme we did not have fmmds available for this purpose and revising &a HRA budget would not fit within the allotted time allowed Under the ibvmmt, the Boal. through Nkpbooa onuveMatioms with ataffdecided not to pursue acquiring the property at this time. Staffestunates that the HRA would have needed $130.000 to acquire this propene. In order to be proactive wbm situations such as this arise, do HRA needs to have flemble funding available to recd in a short time Game. Currently we bare approximately 5562,000 im reserve lim& These finds are available to be need for this type of aedivigr WA an aunmdmmd to the HRA budget. However they are also to be used as m emeq mcy funding source in came sounding mammocted comes up, such as an in fuodiog firm other somm or doWn in tax policies that eget the amount of levy the HRA receives. AW6 the Cin dein to beep at low 4096 of the followimg yarn' budget m reserves to cover cash flow mupmaea due to the diming of whom we receive property nod revenue, Uwe aasdmme the 2003 budget will be at least annul to the 2000 budget we world need to beep $282,000 in reserves to cover cob hoar. This weuld allow the HRA to ralloam about SZ80,000 to-, -h alba imidmim bmbi img aequieiog propnII, with the'gtiglrt of iird Refired" dm L The scud use of than fiords would be shoe% mord" would be repaid once a mew buyer aequirad the propmgr. However. we would avenmally need to.replmiad the a000umt because there would be coals associated with the scquiai>ion ad ale that would not be reo moped sm* as closing and bolding coats, we would pmba* spend about 53.000 in costa that we would net r000up based on the previous property we acquired dbrosgh this process at the village at Bassett Creel There are benefits and costs to setting aside finds specifically, far the purpose of acquiring properties containing restrictive covenants. On the benefit side.. the. HRA World be able to . . acquire the properties at the Village at Basalt Geek at a price that is well below marbet, this we wood have the ability to pass along this discosat to the next buyer. The Reserve restriction is has aggramove in detmmiumS dw resale price to the HRA and therefore world not be as gnat of a benefit to the HRA to invoke the right to purchase. The HRA Bond should keep in mind that there are any possible uses for the reserve fimds and abould discuss wbat the most suitable ophou(s) would be to bast atiline these finds. The Board should also beep m mind that there may be other options outside of drawing down the reserve account to address this and other issues pmuining to affordable housing and the mission of the HRA, which include inmeaming the tax levy or obtaining outside financing. I recommend that the Pbsnosth Houmng and RO&Velopmmt Autba q Board of Qommidsae*s disems the lame la orb report sod prsvbie t1s d6 action. ATTACHNZNTS I. Village at Bassett Crede Covenams 2. The Reserve Covenants r a er rvar uaunaor aiseeotma send fimmeaopno s-heatax I Right of fhrst Refiner. The HRA had to decline this option becmrso of dime ooh in ten Commit that required us to respond witl& 20 days of bang notified. Bautme we did not have fmmds available for this purpose and revising &a HRA budget would not fit within the allotted time allowed Under the ibvmmt, the Boal. through Nkpbooa onuveMatioms with ataffdecided not to pursue acquiring the property at this time. Staffestunates that the HRA would have needed $130.000 to acquire this propene. In order to be proactive wbm situations such as this arise, do HRA needs to have flemble funding available to recd in a short time Game. Currently we bare approximately 5562,000 im reserve lim& These finds are available to be need for this type of aedivigr WA an aunmdmmd to the HRA budget. However they are also to be used as m emeq mcy funding source in came sounding mammocted comes up, such as an in fuodiog firm other somm or doWn in tax policies that eget the amount of levy the HRA receives. AW6 the Cin dein to beep at low 4096 of the followimg yarn' budget m reserves to cover cash flow mupmaea due to the diming of whom we receive property nod revenue, Uwe aasdmme the 2003 budget will be at least annul to the 2000 budget we world need to beep $282,000 in reserves to cover cob hoar. This weuld allow the HRA to ralloam about SZ80,000 to-, -h alba imidmim bmbi img aequieiog propnII, with the'gtiglrt of iird Refired" dm L The scud use of than fiords would be shoe% mord" would be repaid once a mew buyer aequirad the propmgr. However. we would avenmally need to.replmiad the a000umt because there would be coals associated with the scquiai>ion ad ale that would not be reo moped sm* as closing and bolding coats, we would pmba* spend about 53.000 in costa that we would net r000up based on the previous property we acquired dbrosgh this process at the village at Bassett Creel There are benefits and costs to setting aside finds specifically, far the purpose of acquiring properties containing restrictive covenants. On the benefit side.. the. HRA World be able to . . acquire the properties at the Village at Basalt Geek at a price that is well below marbet, this we wood have the ability to pass along this discosat to the next buyer. The Reserve restriction is has aggramove in detmmiumS dw resale price to the HRA and therefore world not be as gnat of a benefit to the HRA to invoke the right to purchase. The HRA Bond should keep in mind that there are any possible uses for the reserve fimds and abould discuss wbat the most suitable ophou(s) would be to bast atiline these finds. The Board should also beep m mind that there may be other options outside of drawing down the reserve account to address this and other issues pmuining to affordable housing and the mission of the HRA, which include inmeaming the tax levy or obtaining outside financing. I recommend that the Pbsnosth Houmng and RO&Velopmmt Autba q Board of Qommidsae*s disems the lame la orb report sod prsvbie t1s d6 action. ATTACHNZNTS I. Village at Bassett Crede Covenams 2. The Reserve Covenants r a er rvar uaunaor aiseeotma send fimmeaopno s-heatax iitiiR 14 da U2 3M U41 P:anj V I LLAG E AT 3A5SE T T cR EE K S Mrr H DECLAR RTIC& OF RESTRICTIVE COVENAMS THIS D= APAMIR OF RMP -[CAVE COMUNTS (this `Agreattaat`) dated as of arch so. arae area by the RoMand Comm. W- (the `Ldtial owner") is givan to the City ofPbre yt4 Miaeraota(the "Gtid"} m WMU& the CIV entered into that rerun Conaaat for Private Development between die CiW and the Initial Owner. deed m dJbw 8. IM (the "Contract'); and WIiERBAS, ptaeaumt to the QotReaet..dta:Idtid owner is obligated to vaso taaashtamion of Sauk beveing uuW as oettain p epeeq to the Cabr and. to twee compuna va eaeuia housing alb eaI IMImo dameibad to Swire 4.3 of the Contract. all in eoqdaadm of eeeteia trot mermen Wdg a=btanee.p O lie IWthe Cipr to the Waal Owner as daaodbed m the Coana t and WHEREAS. the Propap (a herein dei n4 has been ptuchand. with "enhanced fmancmg" aS defined in Steffan 4.3(4) of the Carteaet and, 6=%re, the INtW Owner is and b} the Contract to execute this Agreemeat in conu don with the sale of such Property: WHEREAS. the Initial Owner under this Agreement intends, declares and covenants that the restrictive oovenants act forth bwdu govemiag the V110du of the Property shall be and are umcnants runningring with the Pro" ft the teem described herein (for the banefat of the City and all futtue Owners of the PmpuW) and binding upon all Owners of the Property for web teem. Md are not mer* personal covenants of the Initial Owner. NOW. THEREFORE. in considaw ion of 69 promises and covenants hereinafter at forth. cad of other vabtable moo, the receipt and sufllciemy of which is hereby admowledsed. the h dtial.Owner agrees as follows: Secdon I. fit' In this fit. tmtess a diWt meaning appears from the context: Additional DEQ• meaert the dollar valuation of any amounts disbursed by the City to Protect its interest or dee fatterest of the HRA In the Property, that have not been reimbursed by the Owner. plus interest on seams amatmt at a rate of eight percent (896) per annum. Average Pereent Inseam` is the Well psreent increase in Average Sales Price from tba Drat year of the OkWation Period m ire last year of Ila Calculation Period, divided by the number of years in the Calculation Period. t.rlhst 1irM Ntli. Average Sala Pdoa" hr a w aleahr year n the aver aft p fm dWebed . =Nbmbbm% Wambot res. WA twidames, to the 6066 area 111 R 1,d by thebfmmgmsAnaAnodelmofRaabmCMAR"), U repotted IN the R=MwM Red 1'sstameherbRqmt %d atmuft bW WM&. or. is the went the report deaotibad k thbPmampbIsnopftpM.4AR. NW rtamtsbb catperable6tdexofav6eagegaleaPricehterim. MiaaeapeL's/St, Pad mar6 mmm gra flee. is tsow* eowvnhb to the dueprovidedbyMMRandleapprovedbytheCIr. Oalatiation Period" is dw petbd hall and meted M ate aleadar year in vrbleh atisASmOmerttiseataedint% 1, R r gh and kdudiog ate most mm alemilOr year hr vdtieh. anAverageNoPdoaiaavaitba= Of *A dame ofew NNW Teatax. momms as p tohtnd peaWIWp emAd tw the Owner at or prior to die time of IDW 0 AM ate RWAhW !md PAdoudopmat Ambsrity in avid hr eha city ofPbuoukig.wW woommto ite hmetiom. Iaitief OVater forms The Ratthmd ComgW. bt Initial Sale Prise• marts hthepaidmacsJttitemehop", am ate. uutial Ovraer. whiaA Wtial Sale Pdoeis S na,st ran Mattimttm Sale Price" means a Sailing Price that doe sot execed ebb fdbwba amo= the Initial Sale Price, adjusted each year, riming a Cdctbdon Period by elle Average Percent Inanaae is Average Sala Price during such Caladatiao.Pieriod. plus 10 perce0 of the aett mt bywhichtheInitialSalePdee, as w adjm%4 etooee h the previous Sale PdcL Owaa' Mara the aOrrent I%d Ovgterofthe Prop M. TwAous Sale Prig" assns ata Selling Price paid by rhe cutter Ottmer eo ao"re thePt""' For the pttrdtase from the Initial Owner, the Previous Sale Price erinals the bftd SaleiPrke. hPW roans ate teal FW" descnhed is Exhibit A bereto. together adth thehousittgmutlocatedthereon, PGmbase Discomtt" mum the t10.000, adjnsad cash year during a Cslwluim PeriodbytheAverageForcmtbmease. Pmehase Option" means the HRA's option, to aeeordsam m-itb Seem 3(b), beraM topurchasetheratitePtaperprhtrtheMadOMSalePdce. 060-014PI-M 1410 we 612 FS WU P.tla/11 S.umg Prbre" masts the Doer ofaetpeieiAg da Propeegr from da Owner and ieedtrdes the folbvdvv on sarotma paid. d &W in each a in MA by do pmebastr (or a related pater or hr the beaattt of da. pachmsa) m do gamer (or a nand pair or !err the bum ill of the Owner) m e+oddeatiaa hr TtaasAr ofdme Propatpr to tlo pub. iadadietg asq appliaeoes 1 to the coatpaaey ofdo hotso. m pelt of tbrZ ssN of rho Propeety da padmaer adtaes m pq a aestme tiabilihr for a debt dthe Owner. 65 ptimipd motmmof sudor debt wag be included as pmt atom con of acquiring tie Peo"iy If the tame: of da 1bnshr provide der immaUmunt pa oma by the pmnehaaar to do owner, do sdit Price shill be determined by i dwhng da pdn*d aenoem owing to do,Owne as of ebe deme of 7htuft, or, if no priacipsl smarm is staad under mW tmonetmm of Tv6shr. den do Selling Price *A be detadaed by dadatiog rho Pam valla oftie inadlbom psyaeerm as of dee do of da ham, eseeming a discotmt sate agtrd to the pre dit ma" rate hr oaner4ow4pied nddwm smsr"ge loess is the brumqd'W&. Paull maaapo ba eau as of dee d*te of do haat, as gpmw d by the Cipr. For do pumoses d *b ddbbbm do we da gdit do Prawly does net Include des =ml ad neeom" aeedemem ad ftm tg coat. Satdessesl =0 irdde titling ate edr coft a ie iratuarra saewy had or other similar Dem. F coda itrolde credit teh os he:, 1ea16W appnid e1aseta 6 paaaimed arigieredoa fres dm era pdd by do bQW, or alar costa ofBam ogda Same• maaa da Same Gf ldumaote. Tneolle"' means any tad aft dvn=L conveyance, or naught in any Grier mode or fam of or with respect to the Pm peM or a contract or agreement to do aqy of the same. A lease d da Ptoperpr without puebase opoon, at a lease vide option to purchase at fair moket aha. dmU nom suns mu a ham. Arty lase with option to pachase at lass than hit martinet Vm ftucoustion a haasfa Section 2. Becordina and ilie.QVMM to Run With the Iand. a) Upon edon and debV67 by tie Ga'tial Owoa, the initial Owner shill cause this Agraeaartt to be morded ad Bled wide the County Recorder of Regtmar of Tidies. as sppropriaa. of H Ooomsy, and shill pay all fen and eiow immuld in connection t atewitlt. Upon nmading, da WtW Owner MH immedia* transit to the City an new -ad origid of tits recorded Agrammut slowing rite due and document ambers of red, or a duly cadged cagy of da ameeased aigiod. b) Mm Initial Owner intok declares end covenuft an brbdf of itself and all fugue Owaes of da Propel doing *a teem of this Agnes ilea tics Agrees mem and rhe cosi set tbeeh herein doting da Tangle of do PmPM Cr) dell be and are covenants enaaiog with *a Property. ememn'bdng le Propel ht do tete of tldd Agreamaat, biding upon the modal Ownerle auooaeom In We and all sobn%um owaes of oa Propel. (d) we not mrb parmw covenamb of do In" Owm. and fro da land the bdtw Owner ad all M=Ow during t1a tem of dtis Agtaamem. The initial Owner hereby agrees dat amy d all ralnieenads of da laws of dee Sto to be saddled in order In the provisions of this A rmumm eo emt;dtute decd restrictions and covmaana rxonum with da lead shall be deemed to J t t saaQ 141iS isto sit sea. a a 4; r' be a is tAL and that ally aegnbaamats or pehilyas otatz~.:ase tatended to a or is tha ahaatata dant m egtdsbta seeviarge lm bass etaasd eo btatro tlwt d1w tasaiai0os run • - VA& Gw latd. Poe da tatm ot>sis Agseam0st aaeb sail aveq ooatta deed, or other I'm 81 eteeaetad coavayigg die Propatq at potlion tbtttaof shall eegetassb prolride dant s>am eoavaywm b a jaat m tbb Agteameat, paaMid1d. h011 r, them the oowoaas aoahaaed hmalee doll s mive and be tiw rej ae of wb*n Nab ooh deed ae WAM tastummmu Member worded aoavaying on Peopap of poedon dnnaf pravtdes that snob eommeyance b sngjxt to dile Ag mumt. Secdoa 3. a) 7b0 bddd Owaar is a coIotaaioa at8 L, A tmdaf da lava qfthe Sete, std b qmU d to te0maei bushmu miler da blas of d a Statar hes alta Wwar and aa0- 43r to own is ptopaed is and alms and to atq oa he bnehaem as ww btdag omdtectad.. and tan the tali legal d#4patersail-dam 03toattaolde0011deti erthttAgeaaeam. b) UA ene=du sad peelbemamse ofd $ AgI=mem b da bltdd O=W will tact vbb % or ata gPRU ter baMa tat vialatad WW provbtioa of bnq M% ere of say otdar of sap oomi or admot agmaoarsonlamdematl body6 aced vim mot viob w W povision of may lsdamam mottto aster err adeer 102110101011t m whish 1110 bdtal OMttar b apae;yarbpr vebieh tt b bomd. M c) The Ionil Owms' vAlL at the dm of exetWton and delivery of this Agreemau. have good std maliatable tide to tba pmmises eonsu'eletag *A ProperW A" sad clear of ally lien or atuambnoae aft than etsumeaft d&VA o&vq% servitmdes, testricttow. taxm asaessenetm ad other mbw duets in do tide to do Propaaty wbich do trot mawwLv impair the usee or vatic of the Propww. d) The Ldtial Owner vfaaa a that it has not and will act exeeus any other agtaeauat with provisions wamtadtctosy eq or b opposidon for 1110 provisions hereof. and that in alp avail *a qd, I deb Agnemem an pa0motart and coat aft as to tha rights and obbSedom herein ant %* ad aapersade say odor mquivemee'ts m conflict heeewift a) After the bddd Tmdw ofdo Peape ty 8tom the Initial Owner aced daring the tam of dila AgmwAk% a0 attbsequ t Owner abA M110=fer da PMWW f6: a Shciag Price that extaads da WWmum Sale PtIm A vAngaad Owaa nay. withwet restriction. Treader the Propart r sora Sdit Pdu that b equalto err lea thio tha Mm mum Sale Dice. b) Prior to ally proposed Tmdw of** Paopad, do Oaaer shall give vrd ml aotke of the pmpond Tretaef to the HRA. eatieg on behalf of the City. in recognition of dee MA's Pmebmo Option as set tbrth is SadOn S hued, ad shall f muh the RRA with vxh idbrmadu vtt respect to to PropuV ad dee tams of any pwposad Tnmfer ea tho HRA may resao n* equea 612 30 Mel P.Mnj o) Upon or befua dost oa app Tnu fur enol 4 utlect to re: WM nwor fhb Almoner& da Oaaner dwU deliver ft do Cir vglttita w4dowe rwrvtaa* uds(a&IW to dee C1p tAat tAe satRject Tkmsfer oatpplies wtm dee ptevldaa; of tAis Agreeatet t. UNass odeerwise ageeed tw 6e Cir, evidence area Selling him AA include at heat the faliowbg,items: as attecuted Pwahays + and m eaoeaaad eeetiRasms of real moots value G0110ft v4Statehew, d) Poomptl) asci tempt by da Cl d aviiena of Gosoiaaoo vatah da "aea of ebb Seexloa m % tha =bWWWYiWAfWQffthqUlW aft dna itddd TUVA&f. dee CjW wMfamishdaOwaecWithasaIIIf 'ate iametn= ao oet%iag. Satoh need figgf a by ria CIWMbe (sad a doll be so ptGvided In the eetdlads a GmaotmWe of selidsasioa of da eo eaeab in dds Ageeaaeam aide rat , - , % dw of dee Owaw 16 MOM % dee sutyeet Ttaafx. and shell be satbst M* In dee feeaa aftcbed hereto a: Edit L U da Ck dnq atm or M so•provide asp md&gdm in a000rdoos witD the provisbns Gf deb Seedoq dna CiW dadL vftb S &p oder vrrittea to m, b dm oweter. pravlda ells Ovmer aide a vadtept sActesseol g is alaquecoe ja vahem retpecb da Gunter am fend to am* vefh da resttiedsm an TWAhe ttaft dais Seedon sand v* m mmaaasofaasMUbeattmt13.badaQPWMofda0W.dorda0WMtoWanorpee0 is Grief % Gbdia code cwdficrjM e) ANY TRANSFER IN VIOLATION OF THE TERMS Of THIS SECTION. 04MUDWO A TRANSFER WITHOUT PROVIDING PRIOR NOTICE TO THE HRA IA' ACCORDANCE VtM SUBSECTION (b) OF THIS SECTION 4. SHALL BE VOID. sections. a) PdOl % asp proposed Ttaas&r of da PrGpetty, dee iUtk sting on behalf of the city. "have the option to putehme da Prop w for fb Maxlmum Sub Price in aee:oxwm wide saebseetion (b) of this Section S. Udas dee HRA we= dna Oamw is vd tag of its it<tentioo to aammse da ftxbase Optica vA&m two* (20) dap of receipt of written ttod6aad= fiom ties Ownar of da 11111 1 T amfa pursuant to Semina 4(b) above, the Pater base Option da eaR m and da Omw may peooeed to sell the unit in aaacoedmce with dee provisions of Section 4. Donning da fxeg t tsv* CdW day apdw pajA the HRA My. at ib eatpeava; have the Ptopanpr bon d mad may dso. at its expense; a wAuct such padimieaary Ifth aodt as it my dean appropaiaee, noel tis Owaa Will 000petate with the HRA in such 41 16hoL b) Ifthe HRA deM to aogWm dee Ropetbr in accordance with the teems ofdee Ptndease Option, the HRA dA exem a 1, -1 ae ogre t for the Peoperbr is farm and abstmoe rwombq sad$htt ry to do HRA sed the Owrm and daU proceed to dose an the paa ae ofdee Rapeep wilAia d r(6 dtysofdee HRA's notice of ieseteetioa %paneAase. Prooads of the sale of t• Ptopatir% the HRA desU bs didnused ire the following maatue. (;) To pkVof'do babas .x ed oa da Fast Mortgage sad sap other outstmd ft awrtgage limes: (ii) To payolfany taxes and amts. adm aaenmbeanm on *.e Prop M deaaed to dhct the Ott p.P li 0 oNemf (moa dear[ deb ApM==q, ad NW AdGtiaaal Dkbasemufteund to ~ C!War*AIMAteam tbara d?dn Owaer and(do Ptooaed:toNeetelliesOwner. athkorbaraWw Pt mbmofoe hq" by "ratdiedttuReorreieaseofdtisAgaaat, Upoa waitaa request Som die oaaaertbu dte Owner dedrms t dte steal[stealt etteatoe amd dek a reEaue ofd Y t peior toga Tiaed r. dw City prbr to ar ooeporanaotta wio CW7i'apU d • UM MUM to *A HRA of *A Fltrebea;e Diaooemr orauebtheHRA. in its.ade db=GM =iW damto to anosp4 ( mum as Ammemmam e Mmdramtda mother releved in. w**g tW dwamtk-t r 4UMM bmk stint ooMMM OR *A dabaaandadeathedttewbiebbr30yeaaaileethedatabtraoL sad a l $ 1% owner dt>e thN*MmewoebytheoamarwlooetasOtiorapmvbledietbl: moo pow Re 6 to easttrmaetaPurooewigdtebottaity+ , .d saotipt 43 atom OoWa M moabwmmt6mOMR. to oond&@W o hr a=bW= provided tw *a tut vat dte RatrtcioQ'ptovidaef a tbm few aott+Nmod of oe PraPee r. and of tob..byageea and cotraeam [bat dte ct'praball beetdtK forbeboidtePt'oaf dtia Agreaarery and in ad too tp aU other remedies Widcdiaworine"''p. to enforce Wdfia Whmwm by do Owaar of its ob6gatloos w der tWsmastatecootofeompetwjambottaLTheOwrenbwebyRuthaVmfiealt.. ac ebm rite Q'r wneot ba mately coops by monastery damages it the e%.entWditftbetew*f, a) SELVMN2 . Tk invalidipr of any ciao% pout at provision of thisftHrotabetdwvalidityotospowthereof. Arawmt b) AZW coda% dw=4 at Oft oomnrmiation under [bis Asreeseteretshallbenradeaty, uveaor ddivend if it is dbpddnd by registered or cmiQed 4 prAp b'd. mMm rete reed. ar delivered Peen uft to pasties at Nee addtesw at To the Ln'dd Owam: The Rmtti and c41muy. Int- 3M u3065 [)entre Pointe thrive Roseville. MN 53113 Atur Pnddtmt To the City. Owall 3400 PbWAMb 8otdevwd P(yrsent MN SS447 ' Atte: Comm* Development Diced, 110 Fi,Zh is:a6 No 612 R3 On "P.a11 ad Plymouth HRA 3400 Plymouth Bode a! pbma d6 MN 33"? Atilt: Eutudwokedw ae a eueb odta addnm with m:pea to mlba such peep as that peep IoM Aoee time to time, des%pm in waiting sad mH , and tD da other as peovidad iathh Sacha, Miataa( C) t TM Agtaetaem shall be govemd b Ste bus of the Seats at M QUIUMO& This Arno m my be eunaed is aw mmtba of aoemmpeea waha.tdall aettidtuts = tmd tae tales kWQMaa. Pi WtIN W WHB W. do atithd Oatta bts used thh Agleemteat to be aIPW by its w*Adaedmp ua=iv%asattMdgcadyearlmdwnu*Ao . iiia ROFIYJ lD COMPANY, INC. 8y _ 1; STATE OF UMQ MSOTA ) SL COUNTY•OF ) U - ounum toad Itiodged betbre 00 foa at ea1. OM Rottb rA CogWq. br, a Mumma caepmadw an behalf of the aotpondaL e, /a -2, Notary Thin document was dea!!ed by: s tagpet K tt+IWq Pubboyceowsoulb 220 Soulh Sixth Sum +wuenrs+':oos SS10 u"bone:612.340-5663 Iris i i AW 67Q BRA i aC Sis, lloclt !A Yi3=aq at. Nssdle Cft*# CTC. W Mo firamar. lltmaeftp. FFB,-- 1410 W40 612 30 Sial P. upll CBRTlFWAlMOPCOMPWWB sUeSsQU Nr TRANSFER) WHBRSA,% punvm to Section 43 of *e Contract of Pdvate Dendopemm dead hoe 1999 bdwem the Qty of Pb=wjgh, bate (the 10b7 and The Ratdund CompaW. las. (the -Ndd Owner"). am hdtid Owner bas caused to be eotecuI a DKW@dan of ResWWve Covemarts deed at of — Nut 'Deelaatien-) and lilnd vei8t the (County Rsoordw)(Regimee of Titlee] for Heamepio CwmW an .—GS Doeutmem No. . coveting the hDav tog desenIM rel estate and the housing unit located thereon (Rw'Propadr'); and WHERSA$ Section 4 of dte Dedamiaa ce aims aeeain O ideoas am Truer of tAe Propap rebft to p iw notice to dee HRA and the bh dmtan Sale Attie ehdeog and WHERi AS, an the date hereof the naiad Otmer ofthe Aoperiy ftbg idm0 d as 1 has requtated thea do City that a Twaft of*e PropatV has bem made in m pfi w with Seseian 4 ofthe Declamation. NOW. THEREFORE. this b w ear* that: i. A Transfer of the Pmpagr will be made by said caecal Owner for a Selling Price of A , %V" Selft Prion is less than or equal to on Maximum Sale Peine for nth.Tnn*r as computed in a, - i I ane vft the Declazation. Rather. said eurms Ovmw has provided the HRA with the notice ofttansfbr required by Section 4(b) of the Declaration (or tAe HRA has wmW *A requirement for such =dci . 2. This hunummt is a cowlWva domination of mns6ction of the comma as to dte Tramft of do Property, if made hr the foregoing Selling Price. in accombace with the Dccla don; gWMLjb& after the date hand: the Property remains subject to the temns of the Declaration and this irtatrumemt dwU not .com aft evidence of compliance with or saw of sty obligation of any Owner with rapeet to any subsequent Ttansitr of the Property during tha teem of d a Declmmdon. Dated: . _ TIM CRY OF PLYMOUTH. MINNESOTA By Its Mayor By Its City Manager r . yw w. a lay STATROFMINMOM COUNTY OF HENN M G32 393' mel, . , P, X1/11 ' TAe TM admw*k4 ed bete wee ob4W ofs_ and of tM Qqr o}'p a mwdcw am bdwofof -OAdo Nott' Putts iwB•..dmw et', . DmW& cmwmma Sowh.ne St eve Ummpkmmunudddd 5310 THE RE SERVE. D*QARATM OF RESTRICfM QOVWMM'3 7iOS DECQAMUM OF RESP' X'IM COVENAME (this" datedasofzooQ, by me ,ad Rede:aelopntant Attthaei e Mimesoea (thee "Det ne", 11) W1918 M% ma property (as eaein droned) has bet pusdtn, by &. Dedatamt teudar a l 8 p immudcd to assist JbW6 and edaeote-Umome fatDilies to afrad homemmurship withinaV of Pganoteth, Minsaota; sad p WHERFAS. the teems and conditions hereof are intended in part to enhance the PropmVbymakingitaffwdabktolow. and mod, ramincome families who, absent such pravisions, would be usable to afford to pub= the prop". WHEREA the Declaeaffi.under this Agremtent into k declares and covmanta that the fOurMWeovataam set faM6 basin govaaiog the trawe of the property shall be asd see with the Ptop" (for the barest of the Mduant; and all forme Owners ofthe, ftpM) and aovwmft of the Dec t. Won all Owners of the Property, and see. not me* pasotml NOW, 7WERElFO M in coaidmom of the promises and coveemnts bnmmRer setPohh6adofothervalaablecoidembo , the receipt and SUMpMy of which a herebyadmowledged, the Declarant agrees as tallows; Seclioa 1•RdkWM Is this Agreemat, unless a diffeeautheeman ° ° First Mage" mans lite mortgage executed by the Ower at or prior to the time ofpundmmofthePropertytoftmd.a portion of the Pu mhm Price. tausos ae.:omoi Moderate Income Resident" shall mean a person or group ofpersons vAddn a household whose combined dnceme does nes exceed aft percent (8096) of the HUD Awarded Median Family Income (HAKM for such number of persons for the Minneapolis -ft Paul Standard Metropolitan Statistical Alen as determined from time to time by the U.S. Department of Housing and Urban Development (HUD) under Section 8 of the United States Housing Act of 1937. or if such program is termioaaed my similar program. designated to fumxin in its place, based an dte median family income, in the Mimapohs.SL Paul Standard Metropolitan Statistical Area. Owner' means arty future legal owner of the Pwp ay, whether the owner purchased the Property from the. HRA or from subsequent owners of the Property. Property' amass the, rad property deseribed in Exhibit A hereto, with the, bowing unit located thereon. Twebase Option' means &a Declemsoe's option, in ar000r I we wits Section s(d). ham* to pmehase tee attire PaopoW. Stade means the State, of Mlnawats, Dana" macs my ted saw a8ahgoMOM aoeva Nom of I1 in any atter mode or Sorin Of of rods respect tD the Property, at any l or agreement to do sop of ter: same. A drove of the Properly without p rebase option, or a lease with option to purchase at lbdr market value, shall not eonsduft a Transfer. Any lease with option to pmchase at less than fair market value shall constitute a Transfer. a) The Declarant mends, declares and covenants, on behalf of itself and all future Owners of the Property daft the term of this Agreement, that this Agreement and tae, covenants set farth bards restricting the Transfer of the PmpcM (a) Shall be and are covenants ramming with encumberinghopuly, mbering Se • ope rV for &a term Of this Agreernea% bmabag upon the Declamnft successors in title and all subsequent Owners of the Property, (s) we not merely personal Covent of the Declarant. and (iii) Shall bind the Declarant and all futrre Owners during the term of this Agreement. The Declarant bereby agrees that any and all regultamerns of the laws of the, Starve to be satisfied in order for the provisk m of this Agmemem 10 constitute deed restrictions and covenants running with the land shall be deemed to be aatidW in full, and flea arty reqs of Privileges of estarce an intended to be satisfied, or in the alternate, that an equitable servilnde has been crated to m me that these reshnflo ss run with the Ind. For the term of this Agreement, emb and every contract, deed, qf other i>ntmmment hefeaftar exauted COMM the Property or Portion thereof shall expressly provide that such conveyance is subject 10 this Agranhem, provided. bowever, that the covenants contained herein shall survive and be e6ective regadless of whather such, Contract, deed or other instrument heraRer executed Conveying the. Property or portion thereof provides that such conveyance a subject to this sr4ssoa b) 7be term of this Agreement shall be 20 years fiom the recording hesoof and thereafter, this Agreement shall be null and void. a) The Declarant is a body corporate and politic organised and qualified to ttmnact business under the laws of the State, has the poner and authority to own its properties and asserts and to curry an its business as now being conducted, and has the full legal right, power and authority to execute and deliver this Agreement. b) The execution and performance of this AWeemmt by the Dechrant will not violft or as applicable; have not violated any provision of law, rule or rapdation. or any order of any court or other agony or governmental body, and will not violate my provision of a" iodmuata; WCOWAILmortgage, mortgage note; or other insa poem to which the Dedmmt is a. peep or by which it is bound. c) The Declarant wmrmts that it has not and will not etteenne any other atg namaat with provisions co cry for or in apposition to, the poukdotis ham and drat in any avant the regnireoamaa of this Agiseemeat we paramount and coottolling as to the dgbas and abligationt herein at !beth and supersede mny other regoiremmes in conflict herewith. a) An Owner may mortgege, ply- or encumber the Property or any portion thereof or interest therein only pursuant to a Permitted Mortgage. "Permitted Mortgages" shall be im which: i) tun in favor of either (1) a so-called "institutional lodes" sucb as, but not limited to, a federal, state, or local housing finance agency, a bank (including savings and km association or insured credit union), an insmase company, a pension and/or profit- sharing fund or trait, or any exon of the foregoing, the policies and proeedt m of which institutional lender we so4ent to direct govemmoml supervision, or (2) a community loan fund", or similar urn -profit lender to bou erg projects for low and moderate income persons (eat defined by reference to the membership criteria for the National Association of Community De %nelopment Loan Funds, a non-profit corporation with its peiaipal office located m Philadelphia, Pr nntylvania} Me "institutional tender" and 'community loan fund" described above we hereinafter referred to as ("Permitted Martgagce" k ii) is a first lien on all or may of the Property (the "Property'); iii) provide, among other things, that in the event of a defat:lt in any of the mortagoes obligations thereunder, the Permitted Mortgagee shall notify Declmmmt of such fat and Declarant shall have the right (but shall not have the obligation) within 120 smMa6 RMAO see Vj"t days ager its receipt of such notice, to cute such ddault in the m utpgor's game. and on O—N mortgagor's behalf, provided that current payments due the Permitted Mortgagee during such 120 day period (or such lesser time period as may have been required to core such default) are made to the Permitted Mortgagee, and shall fortha provide that said Permitted Mortgagee shall not have the right, unless such deftedt shall got bave ban cured within such dunk to accelerate the note secured by such Permitted Mortgage or to commmm to foreclose under the Permitted Mortgage on acoamt of such default: iv) providi-, among other things, that if after such an period the Permitted Mortgagee intends to accelerate the not, secured by such Permitted Mortgage or initiate foreclosure proceedings under the Permitted Mortgage, all in accordance with this Section, the Permitted Mortgagee shall first notify Declamut of its intention to do so and DeclsRM shall. have the right, but not the obligation, upon notifying the Permitted Mortgagee within thirty (30) days of memo of said notice fiom said Permitted Mortgagee, to pay off the indebtedness secured by the Permitted Mortgage aA to acquire the Property; and v) provide that sub Permitted Mortgagee shall use reasonable- efforts to sell the Pboperty pursuant to OW sale ager or in lieu of foreckauae to a purchaser who is a. Moderate laoome Residmst as defined herein. b) Rights of Permitted Mortgagee: Any Permitted Mortgagee shall without requiranent of oonsent by the Declarant have the right, but not the obligation, to: i) cure any default under this Agreement and perform any obligation required hereunder, suds cure or perfamaaoe by a Permitted Mongagee being effective as if the same had been undertaken and perfomded by Declarant. U) acquire and convoy, assign, transfer and exercise any right, remedy or privilege granted to Owner by this Agreement or otherwise by paw, subject to the provisionsi if am% in said Permitted Mortgage, whicb may limit any exercise of any such righ% temixly of Privilege: and iii) rely upon and enforce any provisions of this Agreement to the extent that such provisions are for the benefit of a Permitted Mortgagee. Permitted Mortgagee shall not, as a condition to the exercise of its rights hereunder, be to assume personal liability for the payment and performance of the obligations of the Owner hereunder. Any such payment or performance or other act by Permitted Mortgagee hereunder shall not be construed as an agreement by Permitted Mortgagee to assume such Personal liability except to the extent Permitted Mortgagee actually takes passion of the Property and the premises [of collects fees or rentals from unit owners]. in the event Permitted Mortgagee does take possession of the Property and thereupon transfers the Property, any such transferee shall be required to enter into a written agreement assuming such personal liability and aa ssoe ere.:mosios VPWM OW auh amoupdon the Pan rad Mattgegee shall atttoossucaft be released from parasoloul Wblhty hereunder. o) Provisions Subject to Foreclosure: In the event of fareclasute sale by a Permitted MartgageeAMA delivery of a deed to a Permitted Morgppe in lieu of foreclosure in accordance with the provisions hereot at the election of the Permitted Mortgagee the provisions of Sections S(a) through SW shall be deleted and thereupon shalt be of on findus fora or effect as to only so mach of the PmpeM so foreclosed upon or tranvfened. d) Nodowe Whenever in this Article notice is to be Siem to Permitted Mortgagee, such notice shall be given in the toaoner set forth in Section 7(b) hereof to the Permitted Mortgtagee at the address which has been given by the Permitted Mortgagee to Declarant by a INitten notice to Dedarmem amtin the manner set forth in mid Section 7(b) hamof. IiF Serono S , a) The Owner map sek transfer, or otherwise dispose of its interest in property only to unctuous who is a Modamme Income Resident: (herein de6aed). However. such tratsfur 1 shall be magjat to the PtndM Option rights amt falh in this Section. Any pmponed sok, trap li or other disposition, to say amber peruon or soft done without following the procedures set forth below or in violation of sob price houlemlon% except in the case of a sale,. transfer or other dispoman to a Pemd ted Mortgagee in lieu of foreclosure or a disposition to heirs under Section S(b) below in accordance with the terms hereof; shall be moll and void b) Upon receipt of notice from the executor of the decedent's estate given w,Ithin ninety (90) days of the death of an Owner (or the last. surviving co-owner of the. property) Declarant shall. unless for good cause shown, consent to a ttaafer of the Property by one or mon of the following possible heirs of Owner: i) the spouse of the Ownw, or n) the child or children of the Owner, or iii) member(s) of the Owner's household who have resided upon the Premises for at least one year prior to the Owner's death. AMY GdW Perms or persons who we heirs, legatees or donsees of the Owner must P to DeclaraWs rile satisthetion that they rout the definition of Moderate inootne Residents basin, and if any such person is unable to do so, then such person shall not be entitled to pterion of the Property but must transfer the Property in accordance with the provisions benof which relate to the sok, trtaal'er or disposition of the Property to a third pant. within 120 dqs of the date Declarant determines that they do not mat the definition of Moderate Income Residents. M5G.as 5uvaatwm ADJACENT DOCUMENT WAS SUP r) YPAroa ftWwe B*vr Is KawAL- ExcqA in the cage of a safe, tmal or adw disposition to a Permitted Mo Mppe in lieu of .foreclosure in each erent that Owner couft dates an assipnwnt of its itttaest herein at a sak, Ifar or disposition of the ptgWW to a particular third party, then not ka than sixty (60) days prior to the eontaaplaoed closing thereof, the Owner shall give Declaim notice thereof subdandally in the form of Exhibit B amazed hares: avid incorporated Laein by re6 , -e, Such notice shall include th;: following or comparable items: (1) the tar return of the assignee or bttyer for the immediately preceding year, (2) a cement verification of assigneds or buyer's employment: (3) the pay stubs of the assignee or boyar far the throe mom immediately preceding the month in which notice is given to the Decluent (4) a Lacer of Sdpdatim from such assignee at huller and a Leo of Acknawletlgmeat in form and substance similar to that of Exhibit C baeto; and (S) a atatens , of the lama of ashy ISO Oukmmw, SOK I a Of or other disposition shall be eve; mless and until Declaaat confirms in uniting within forb•five (45) days of no* of sash trotter and accompanying doamemadon that sorb msigoee or b-/ler is a. Moderate Income Resident and that &a lama of sale are permitted under this Declaration if DwAusat foils tD 101110114 in writing vwi>hm hapfive (45) days of its no* of snch ntotioe, each Ashur an tha pertof Declarant aball be deemed to caus6 to 000&mW= of each atamaa u) OProapeerdrtn Boyce is Nor K+rotwwr: If Owner intends to offer the Rop" for sok but has no specific person intended at committed m pumcbese the Properq, then Owner shall give Declarant notice ca mmmg a detailed listing of the tans and conditions of such intended sale. Within ninety (40) days of Declaaat's recapt of such notice, Declarant shall either: 1) exercise its option to purchaseon the tams and within the time period ser forth in Sections S(d) and S(e) below; or 2) locate an interested ptnchaser and obtain fiom such purchaser a binding commitment to ptachase from the owner; or 3) notify Owner that Owner is free to an the Property in the open market to any party subject to the restrictions in Section S(o), d) Upon receipt of any notice given in accordance with Section S(c) above (an Latent to Sell Notiee'l Declarant shall have the option to purchm the hapaRy at the Appraised Value Price. Declaim must approve appraiser used. e) INN Deelarant elects to acquire the Property in accordance with the tams of the Purchase option, the Deahmint shall execute a purchase agraramI for the Property in form and substance remorabiy satisfactory to the Dechant and the Owner and shall proceed to close on the purchase of the Property within sixty (60) days of the Declarmn's notice of its lection to purchase. Proceeds of the sale of the Pwpefly m the Declaaat. shall be disbursed in the 924" 1 foilowWg.Manor: Ca To payWO* balance owed an ya FRU Mor4W and-aoyottw aft WNW ficom Cd) To pwff=y texas andasoewneo% other eactunwanoes on 6ePwpaty, deemed to aftbut the marloetabibly t (Odw than this Agreanewt). and (W) To paymWprooeekmthesellingOwwarbisarderardw. Ptndm of the Ropwly by theDeclarantshallnotactos.a discharge, ar.eejuso of yds Agteement.. M Upon or before closing on say TMsfer. G&W than a 7iasfcr m the Declarant, that is subject to MOW= under this AgreemaK the Owner shall d"er to lite Declarant of Agreem m the Declathaatat the suljT= fezt7complies with Of this Section no* by the Deelaroo t of evidence of oow pHw= with the teems subuqu t TtaetsAe of the Propapr, the De larent will ftvntsh. the and Owner wail an VPGPdm iostruoteat so au*b& Such c by tom. D emelt beprovidedistheaerocoduaitW* a conclusive demasimyon of fiction ofthecoinIn %b Agweotem with re&reml m the obligslioos ofthe ownerwith rasp= to, the 3011dw Tiamfer. and shall be suhsomd* io the Rem atteohed bwta as 6xbt'bit a it theDedararetaheUrrearAilmprovideaa0oay6atimioa000rdenoewiththeproviaiyesofyrisSocljo4theDoolarantdWLwithinSdrysagervadume11amonbytheOwmr, provide &a ownerwithawriteanMomentindodbeinadequatedetailinwheteeepedstheOwnerbasAiledtorow* win the reatrictiow m Ttansfa under this Section and what measures or ads wilt beneowory, in the q*ion of the Deoteram. Rr the Owner m tame ar ptsform in a dee to obtainsuchcertification; h) ANY TRANSFER BY THE OWNER MSINVIOLATIONOFTHETEROFTHISSECTION, INCLUDING A TRANSFER WITHOUT PROVIDINO PRIOR NOTICE TOTHEDECLARANTINACCORDANCEWITHSUBSECTION (c) OF THIS SECTION, SHALL BE VOID AND THE DECLARANT SHALL HAVE THE RIOHT TO ENFORCE ALLOFTHERSETFORTHHEREIN. The Owner adawdeftes tbaOwnerwithinft mWutd ° b7 of the Property m bar` and modaate`iaooase affordability would umMe m atRrd n Moines, such as the Owner, who, absau such Declarant shall be e otitted, for argr breach of theme haeDy and COQ that the OU other remedies provided by taw or in ° oftbis Agreernatt:and in additionto nod the TIMU M of ib ems, m enforce. specific perfornweoe by the Owner J m take. under this Ape meat in a state caul of competent 4 dw DW ' 'tractive relief. 11re Ov ow hereby fullerWe"Odamages is the event of arpr default haarnder. cannot be y ' nm0 mor Rw.I rows Section'7. • a) . The invdidi>,r of MW cue. Pon or provisten. of this AW..mtsbaqtotat%ct the validity of the rmmining port' s tbeME Ashy ugfiM tldnend<.er other ccmm=icRdm under this Agrem ew fit. be su cien* givenor delivered .if it is by Resend or calf W mW postage F984Moro receipt requested, er delivered personalty to pwtks at the addresses set teeth. below. To the Declaropm Pbmouth HRA 3400 P1iMWA Bauievtsd Piyamtmt,.MN 33447 TO lbe Owner; Mymou06 MN 5344 or at such other address vft iespact to ddw sncb parer as em poy MW, am time to dMe. daltubin lrdthig and faraiatd to the ether as provided in thin Sectim M ft=WLJdWV• TMs Agreement shall be goveroed by the laws of the Stare of d) QMMM This Agreement may which shell constitute arta and the to UMUM h` executed in MW mtmber of camterpnrts IN W17'NESS WHEREOF, the Deft has cmmed this Agreentm to be sipd by itsauthorizednprdve, as ofthe day and year first above written. THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CUT OF PLYMOUTH, IOTA Susan L. Henderson, Chaff _ ..,on _ BY Anne W. HudbuM Executive Director STATE OF b4 MESOTA ) COUNTY OF ) SS. Samos RWIV." of 71ta h[Wiog itstnummut was admowledged I A m to this dqy of 2002, by Susan L. Henderson and Anne W. Mulbmt, mspectivdy the Cbeitpeeson and Executive Director of the Housing and Redevdopneoot Authority in and far the. COY of Pprmulk a public body cmpotetc and politic ander *A laws of dte State of iNian uam, on bdWof said Housing and Redovdopment Authaily. Noto y PuWc. 71tia doctnnettt was drafted by. CAMPBELL MgUfSON Ph*=kwdAsswlimrk a 317'Sagmdsk Oiliae Cana 1350 Oowpaama Center Carve EW% Minnesota 55121 651) aS2-5= asrtamt ftriamml 10 1 NOTKZ OF RaINTIM TRAM= pRoMff Tu PbuwAdI HILA M P0=Wh Bmkverd ssai Deft N LS NXUW GW= tm pAnaamt b Sutim s(c) of 60 Dec aWm of Rwjkft C1001. (' tdmd me) IN, w1u do Pam kaft dea ra. an so atmftdA' rD Agperp' is etse on=. of tk: P+b caeampe mes era marmaaeax ar depoeaim oftEe prapap b a tlhd perdr was 6disPoedim.an n.6 = CMM a= OF TM FOtLOWM AND PROVMR TM C'OAREgIONDIIMG Tse 110 b%W or =dam It: , dooumai under Scttioo sKXi) aflee Dec riblioe s es dn me 1) tmm moaMe-mig ea Ise rp lMr: auermt vamcaeion oful4pee%or teper't empl%m lk; 0) p w WAS of tsa sidle ar riper tar do mree mootds kwAdim* 1 We aimrsBemicsWisaatioeisgiven; A a lmwGfWPAI ima>b Admoaieftaomt am dro guipwarblM no3) a I I afdko mmofmk, IU PNOP@Ctke Myer b wdm wo. 7ft Naioe txaim a detailed lbft oftheteamsandC=Hdm of the i ambd sak of the pawly. OWKEFAW tart6aiomoi 1 t 6XNi W "A" TO °-N NOTICE OR INTENT TO TRANSFER. PROPERTY LPI ofsaill 9h"Nor 92 Mos Rer.1eml 1-N wonMT "C" LETTER OF SWU ATION AND ACKKOWLBDG1V ENT To. Pb o& LIRA 3400 Pbmamh Bmkvmd Pbmatpb, Mbttesom 55447 Date. 7bb lever b of m oo yon as tem torch da temss of thi Dechraba of Reatriaiso Clesemoes dated es of . MM CD@ckmdwe) bytae llomiegam RwkvdopmeotAWhoft b and Atr the CWof MhMe wft f HRAj o oflhe p"arj Ieppy lesaI an Ise ataeaed "M A ('S*j= PmpuV")L I btatd to paatAsae the Stdgat.Propap. 1 am by ft the Subject Ptrapetpr and agyee, m abide brise Declw&dws Aseb 6 wlhats ptaamo.Aam other prtiet, and w0h lab oleos ofteoei rbtg oatlb bme5ts, asdtats#cIMM 1 htaereadtaa DeekratiamaereAdprapd apdestepddl itstts ameopdtiops. 1 atwahtdanappoeomlpim diam tba Decdeatiom wbh apr otm ataotnapr pebr m apabtg bm ae agwaemme Arr>d pmrltaae ofde Sttbjeat Prapapx 1 tmdtisuld the ptmeaa.and Apma affiDats aftpma tttma bed aottdHian m ttnr eigm a[otmaaltip afore S1 qjeer Plapeepr. 1 hsne diaaassed ohae seems aed'aoodbiam wah bass) Atr the proposes of br. and aoeepttnce ofthese ttttm and aondtlions, ase m0 1 aadetstaod that the %nowbg dooneftb desertI - tae special ohms of tae pmcaese ofdo Subject tab ktterofstipttladoo; b) the Pachme Ageeemmt far w"stitim of me aften Prapeq, e) a Deed m the Subject Pa*M bad atter title ilibtme lm Q tae Deckmdw s m tee Subject Ph*w . The pntIII of thb Letter of Sdpulmbn bin show m attyooe who cu moa tab nmpacooa in dte Apure So I unkntmd bpd Igtee m da Pak attm% bpd eoodltiem an bat b these doemsmts, as Adbwsr I. Mo Declemu m were pboed aglimt the Subject PropeM by the Pbmwdt HRA to deselop ted POISM bug -term aMxftb bomewanaft Aar people of limited res omm 2. Tba gall of ee Pbmetpa IBCA b m etteattmge the to 1016 of deoeak atlbrdebk boo tg between peopk of modeeme bcome, as de&nd iu the Decbrmians thsoogb the sale of bard adtjeet m the eestrKtbtw provided order dte Deebmdom. 1 agab and Aeely aotxp tae awoetship ofthe Subjeq Ptapetq+ap rase teem mrd eandaiatts. 0. Bah the Pbmouth HRA and I ag m tha the tents nd cooditi m wt71 mete it mac they that, if the homy is sold at some time in the forme, a WAR be sold, edher directly or iodue ft m acether modems,neosoe plum OM06 13 nuaw+mrlt heRae itis Should I decide toaell the +4, dss Pbmowh HRA will have the rVA m pmehM it Pon= oushehold anp ooe eh e. 7 e PpimouTh NRA m6pr etio warp a;6k w mte!%hte moder6sm hvn6me R is my desire for realms Eoth ofpdaft mmivaim ad sand public Policy that dle army ofdleDeehlndomandtheetherdoame6ssboblaomidwthemsarinhirnldegok" to me: siaoereiy. r 9245606 Rev:lomml 14 EUMT `A` TO LZTMROFUMLATIdNNOACKNOWLFBGMt a Legal Deem of Subject. PmpeM- X06 isamlomml EXHIM "D" CERTIFICATE OFCOMPUANCE SUBSEQUENT TRANSFER) WHERE4&.dw Houft and Redevelepmeru Alp Why in and Rnha CAr of Pamouth, Mboaoh HRA') bas amwed to be cmcuud a Declaration of Restrictive Cavmmm dined as af, the "De Amdon') end 61ed with the Registrar of rola far Homapin Caeagr ao a Dou®em Na . a„mug the fbilowuo demled real estme and the hmiug tmb loaned Ihaeon (the. WIOREAS.. section S ofthe DeclarWoo eo Wn alt do testriaiom m 11ta ft ofdp Ropetgr a* 10 aomRsme who b a Modaoea bwome Resident ar the Deelerm% and WHEREAS, WAA dale hereof the ammo Oweer ofdw PMpmgr (bdmS idmWAd ea ) basMqmvAd69theHRAwA* Sm a Tramhr ofd a Pmpeeq has ham made io oamptimoa witp section S ohneDedwalm NOW. THnZF R& d& is m wrtify that 1. A Twmhr ofthe Rap ny will be made by said - - On hro ParrI a Ria of i to a I I I I m h L me Resideat. 2. Tbit nh momem is a eoodusive determdaidaa ofseddktim ofdm env n - ss to es vvmft of Ow PNPO"Y, if made far the foregoing Purebm Price, in IL I I m bace with the Declaration; eft aft thedatebootthehap” remains subject to them= of Ne Mcbumion and this Wwament ftn amt arnstieae avidmoe ofa wf&nm wb or satisfaction ofmyobligmian of any Oaner with respect to uW , I eegoeP. Teamfer oftpa Rapaty *ming dna lam of the DalmatiM. Dined: ' HOUSING AND REDEVELOPMENT AUTHORM LN AND FOR TRS CITY OF PLVMOUTH, MDMMTA tls Its: azaea 16Reneml L/ STATE 00MMESOTA) 00t1NiY HENNEPIN The. imtnnomt -16 admmk*pd tmbn ma ab _ der of _ byadMd coilwM and t emd R vetopmart AmAoegr in and r 16e al Mmcud4 Mmnesatq a TMS B49MUNM WAS DRAFM BY: cMqAoR xMtM Ptobuimd Asoociatioo swu 317 1330 OoMom Cww cum. EMM Nbnesoft 55121 games RMIS MI 17 Mary Pnblic