Title
Resolution Authorizing HRA Participation in the Minnesota Housing Finance Agency Community Revitalization Fund Program for the Rehab Support Program. (Targeted Blocks of Ward 1 and Ward 5)
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 to enter into joint powers agreements with other public entities; and
WHEREAS, the HRA has been offered to participate and access a total of $500,000 from the Minnesota Housing Finance Agency ("MHFA") Community Revitalization Fund Program ("CRV Program") to provide home improvement loans and related outreach, and HRA staff recommends approval and participation in this program;
NOW, THEREFORE BE IT RESOLVED, that the HRA Board of Commissioners takes the following action:
1. Authorizes the participation by the HRA in the MHFA CRV Program for the Rehab Support Program.
2. Authorizes the HRA Executive Director or her designee to finalize financing terms, conditions and other provisions for HRA and to execute all agreements, documents and instruments needed to implement this Resolution.
3. The HRA Executive Director, staff and legal counsel for the HRA are further directed
and authorized to take all actions necessary to implement this Resolution.