Title
Approving an amended and restated Tax Increment Financing Plan for the Schmidt Brewery Tax Increment Financing District.
Body
WHEREAS, the City Council of the City of Saint Paul (the "Council") has the statutory responsibility under Minnesota Statutes, Section 469.028, to approve redevelopment plans and projects of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA"), after public hearing thereon; and
WHEREAS, Minnesota Statutes, Section 469.175 requires that before a county auditor may certify a tax increment financing district created under Minnesota Statutes, Section 469.174 to 469.1799 (the "Tax Increment Act") the governing body of the municipality must approve the amendment to the tax increment financing plan after a public hearing thereon; and
WHEREAS, there has heretofore been submitted and approved by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota ("Authority") a Redevelopment Plan (the "Redevelopment Plan") for the Schmidt Brewery Redevelopment Project Area (the "Project Area"); and
WHEREAS, said Redevelopment Plan contains an identification of need and statement of objectives and program of the HRA for carrying out a redevelopment project, including property to be acquired, public improvements to be provided, development and redevelopment to occur, and sources of revenue to pay redevelopment costs of the Project; and
WHEREAS, the Council has heretofore approved the creation, within the Project Area, of a Tax Increment Financing District as a housing tax increment financing district under Minnesota Statutes, Section 469.174, Subdivision 11 (the "Tax Increment Financing District"), and the HRA has asked the Council to approve the adoption of the Amended and Restated Tax Increment Financing Plan therefor (the "Tax Increment Financing Plan"), all pursuant to and in accordance with the Tax Increment Act; and
WHEREAS, the HRA has performed all acti...
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