Title
Resolution authorizing a waiver of the maximum per-unit subsidy under the Inspiring Communities Program and approving additional financing for the project at 47 Douglas Street, District 9, 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 Minnesota Statutes, Section 469.002, Subdivision 14; and
WHEREAS, the HRA owns a vacant single-family house with an address of 47 Douglas Street (the “Property”), which is included in its Inspiring Communities Program (“Program”); and
WHEREAS, on June 9, 2021, by Resolution 21-141, the HRA Board approved and authorized the sale and conveyance of the Property to Historic Saint Paul (“HSP”), execution of a development agreement and expenditures of up to $130,000 for redevelopment (the “Project”); and
WHEREAS, costs for the proposed rehabilitation and in the construction industry at large have increased significantly and HSP and HRA staff have become aware of property conditions requiring additional rehabilitation, and these additions and cost inflation have produced a net in...
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