Title
Resolution approving a $62,386 CDBG loan to V&I Best Steak House, LLC for a code repair project at 1676 White Bear Ave, District 2, Ward 6
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") is a public body corporate and politic established pursuant to the provisions of Minnesota Statutes, Section 469.001, et seq. (the “Act”); and
WHEREAS, the HRA has the power to engage in development or redevelopment activities under Minnesota law and the HRA is authorized to engage in activities relating to (a) housing projects and development, (b) removal and prevention of the spread of conditions of blight or deterioration, (c) bringing substandard buildings and improvements into compliance with public standards, (d) disposition of land for private redevelopment, and (e) improving the tax base and the financial stability of the community, and to engage in the aforementioned activities when these needs cannot be met through reliance solely upon private initiative and which can also be undertaken in targeted neighborhoods; and is authorized to create redevelopment projects as defined in Minn Stat Section 469.002, Subd. 14; and
WHEREAS, the operators of V&I Best Steak House, LLC are proposing to make improvements to their restaurant property located at 1676 White Bear Avenue (“Property”) to bring their kitchen into code compliance (the “Project”), as described in the staff report submitted to the HRA Board with this resolution (the “Board Report”); and
WHEREAS, the HRA Board finds there is a proper public purpose for providing the loan to V&I Best Steak House, LLC for the Project, including to retain jobs, support investment in low-to-moderate income areas, and support the tax base; and
WHEREAS, the completion of the Project by V&I Best Steak House, LLC will meet a HUD national objective, as identified by the accompanying Board Report, making it eligible to use CDBG funds, and V&I Best Steak House, LLC has...
Click here for full text