Title
Resolution Approving and Authorizing a Loan of $110,000.00 to Neighborhood Development Alliance, Inc. For New Construction of an Owner-Occupied Single Family Home Located at 403 Curtice Street East, West Side Community Organization, District 3, Ward 2
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, Neighborhood Development Alliance, Inc., (the "Developer") is proposing to construct a three bedroom, two bath, 1,400 square foot single family home ("Project") located at 403 Curtice Street East; and
WHEREAS, the Developer is requesting up to $110,000.00 in funding from the HRA to finance the Project, and by this resolution the HRA approves this funding and finds a public purpose for the expenditure of HUD Program Income funds for the Project on terms set forth in the staff report.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota that:
1. The HRA Board of Commissioners hereby app...
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