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Last modified
2/12/2024 12:47:05 PM
Creation date
7/22/2005 6:40:53 AM
Metadata
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Template:
Planning Files
Planning Files - Planning File #
1867
Planning Files - Type
Special Use Permit
Address
2755 LEXINGTON AVE N
Project Name
LEXINGTON AVENUE LTD. PARTNERSHIP
Applicant
GEORGE REILING
Status
Approved
Date Final City Council Action
9/12/1988
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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Construction and End Loan Financlng: Construction financing in the <br />anount of $14.000,000 was prcvljed by Nor~est Sank Mlnneapolis, N.A. <br />and The Flrst National Bank of N~ples, Florida, Banc Boston Real <br />Estate cap1tal Corporation of Boca Raton, Florida, First National <br />Bank of Chicago, Illinois, Mellon Bank, N.A., Pittsburgh, <br />pennsylvania and the First Natlonal Bank of Saint Paul, Minnesota. <br /> <br />Domlnion Federal Savlnqs and Loan Associatlon 15 providlng recourse <br />mortgage financing to the Investors for up to 9D% of the purchase <br />price of the Holel Interests. <br /> <br />Shelter Seagate Corporatlon, a wholly-owned Subsldiary of <br />Can-American Realty corporatlon, was the sponsor Gf this offering. <br /> <br />CAPITAL HOUSING PARTNERS - CLI <br /> <br />$6,500,000 Liolted Partnershlp Inter€~~s offered in 100 units of <br />$6~,OOO each. Ofrerlng Date: February 1983. <br /> <br />Placement Aaent: CRICO Securities corporatioa, assisted by <br />shearson/Arnerlcan Express, tnc. <br /> <br />pr1nclpal Inves~nent: To invest in a Local L1nited Partnership which <br />was organlzed to own, develop and operate SEVEN CORNERS APARTMEtlTS, a <br />248-un~t reS1Gentlal apartment complex in Uinneapolis, Minnesota. <br /> <br />Constructlcn and Permanent Flnancin: Provided through a Loan ~n the <br />a~ount of 12,000,000 from the sale of non-recourse tax-exempc <br />revenue bonds lssued by the City of Mlnneapolls, Minnesota nnd an <br />Urban Development Action Grant for $3,720,000. Securlty for the Loan <br />included a Letter of Credlt lssued by the First Bank of Saint Paul, <br />St. Paul, Minnesota. <br /> <br />Can-American Realty Corporatlon 1S a General partner of the Local <br />partnershlp. <br /> <br />CAPITAL HOUSING PARTNERS - CXLVII <br /> <br />$7,800,000 Llolted Partnershlp Interests offered 10 100 Unlts of <br />$78,000 each. Offerinq Date: November 1982 <br /> <br />Placement A ent: CRICO spcurltles Corporation, asslsted by <br />Shearson American Express, Inc. <br />
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