Title
Approving the adoption of a Fourth Amendment to the Tax Increment Financing Plan for the Downtown and Seventh Place (For the Minnesota Event District) Tax Increment Financing District and authorizing the execution of related amendments to documents (including an amended and restated tax increment agreement).
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) has heretofore established the Seventh Place Redevelopment Project Area (the “Project Area”) and has adopted a redevelopment plan therefor (the “Redevelopment Plan”) pursuant to Minnesota Statutes, Sections 469.001 to 469.047, inclusive, as amended (the “HRA Act”);
WHEREAS, the Redevelopment Plan contains an identification of need and statement of objectives and program of the HRA for carrying out a redevelopment project, including property to be acquired, public improvements to be provided, development and redevelopment to occur, and sources of revenue to pay redevelopment costs within the Project Area;
WHEREAS, the HRA has asked the City Council of the City of Saint Paul (the “Council”) to approve a Fourth Amendment to the Tax Increment Financing Plan (the “4th Amendment to TIF Plan”) for the Downtown and Seventh Place (For the Minnesota Event District) Tax Increment Financing District (the “TIF District”), which is located within the Project Area and was heretofore created as a redevelopment tax increment financing district under the HRA Act, Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the “TIF Act”), and Laws of Minnesota 2008, Chapter 366, Article 5, Section 36, Subdivision 3, and as amended by Laws of Minnesota 2014, Chapter 150, Article 5, Section 5 (collectively, the “Prior Special Laws”), and as further amended by Laws of Minnesota 2023, Chapter 64, Article 8, Sections 4 and 5 (the “2023 Special Law” and, together with the Prior Special Laws, the “Special Law”);
WHEREAS, the Tax Increment Financing Plan for...
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