Title
Resolution recommending approval of a Community Development Block Grant (“CDBG”) loan of $166,800 to repair an affordable housing project at 833 University Avenue, District 7, Ward 1
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (“HRA”) is a public body corporate and politic organized, existing, and operating under the laws of the State of Minnesota, Minn. Stat. Sec. 469.001, et seq. (the “Act”); and
WHEREAS, the HRA has the power to engage in development and redevelopment activities under the Act and when needs cannot be met through reliance solely upon private initiative, which can also be undertaken in targeted neighborhoods, and is authorized to create redevelopment projects as defined in the Act, and said activities include but are not limited to: (a) providing adequate, safe and sanitary dwellings, remedying housing shortages for low and moderate income residents, and providing housing for persons of all incomes through housing projects and development, (b) removing and preventing blight or deterioration, (c) bringing substandard buildings and improvements into compliance with public standards, (d) performing duties according to the comprehensive plan, (e) disposing of land for private redevelopment, and (f) improving the tax base and the financial stability of the community; and
WHEREAS, the multi-family affordable housing project at 833 University Avenue (the “Project”) is comprised of six units that are home to low-income families that is owned by Model Cities Families First No. 1, LLC, a Minnesota limited liability company, an entity affiliated with Model Cities of Saint Paul Inc., a Minnesota non-profit corporation (collectively, along with affiliated entities that operate the Project, the “Developer”); and
WHEREAS, the Developer plans to make capital repairs to the Project building to remedy water damage due to leaks in the exterior cladding; and
WHEREAS, the Developer has requested fin...
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