Title
Resolution Authorizing Approval of $420,000 Loan to BB Housing Associates, LLC to Redevelop 242-244 Maria Avenue Under Invest Saint Paul Initiative Located in Lower Dayton’s Bluff Historic District, Ward 7, District 4
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (HRA), has duly adopted and there is now lawfully in effect in the City of Saint Paul, Minnesota, a City Wide Comprehensive/Redevelopment Plan (Plan) providing for the acquisition, clearance and resale of land for redevelopment which includes Dayton’s Bluff District 4 area within the Plan and the City Consolidated Five-Year Plan; and
WHEREAS, Invest Saint Paul Initiative is an effort to bring together all the necessary and needed stakeholders committed to promoting, supporting and helping people grow viable and sustainable communities by building on the strengths of Saint Paul’s neighborhoods, by insuring that neighborhoods remain strong and that where confidence is clearly declining, that we work collaboratively to stimulate changes to restore and build confidence and sustainable pride; and
WHEREAS, on August 8, 2007, by Resolution No. 07-08/08-3 HRA approved the Invest Saint Paul Initiative including a work plan and budget covering (1) Rehabilitation; (2) Mortgage Financing; (3) Strategic Acquisition; (4) Neighborhood Commercial Corridors; (5) Large Redevelopment-unspecified; and (6) Supportive Housing in the amount of $17.0 million and that all these activities be considered in the context of working with neighborhood organizations and residents; and
WHEREAS, the City and HRA have continued to build on the Invest Saint Paul Initiative Plan with the adoption of; (1) Resolution 08-1270 on November 19, 2008 and Resolution 09-103 on January 28, 2009 covering NSP 1; (2) with the adoption of Resolution 10-3/24-3 on March 24, 2010 covering NSP 2; (3) with the adoption of Resolution 11-387 on April 20, 2011 covering NSP 3; and
WHEREAS, the ISP work...
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