Title
Approving Minnesota Laws 2023, Chapter 64, Article 8, Sections 4 and 5 regarding the Downtown and Seventh Place (for the Minnesota Event District) Tax Increment Financing District.
Body
WHEREAS, the 2023 Minnesota Legislature passed and the Governor signed Minnesota Laws 2023, Chapter 64, Article 8, Section 4 (“Section 4”) and Minnesota Laws 2023, Chapter 64, Article 8, Section 5 (“Section 5” and, together with Section 4, the “Special Law”), related to the Downtown and Seventh Place (For the Minnesota Event District) Tax Increment Financing District previously established by the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”);
WHEREAS, the Special Law requires local approval in accordance with Minnesota Statutes, §469.1782 and §645.021; and
WHEREAS, the City Council has determined that is in the best interest of the City of Saint Paul, Minnesota (the “City”) and its residents to approve the Special Law;
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota (the “Council”) as follows:
1. The Special Law is hereby approved.
2. City staff are authorized to request approval of Section 4 from Ramsey County and Independent School District No. 625 (Saint Paul Public Schools) in accordance with Minnesota Statutes, §469.1782, subd. 2 and Minnesota Statutes, §645.021, subds. 2 and 3.
3. City staff are hereby instructed to submit the appropriate certificate and a copy of this Resolution and the resolutions adopted by Ramsey County and Independent School District No. 625 (Saint Paul Public Schools) to the Secretary of State of the State of Minnesota.