Title
Resolution approving and authorizing (i) the establishment of the Tax Increment Financing District (West Side Flats Phase III Apartments Project) (a housing district) in the Riverfront Redevelopment Project area and a Tax Increment Financing Plan therefor, (ii) an amendment to the Tax Increment Financing Plan for the Riverfront Renaissance Redevelopment Tax Increment Financing District, (iii) the conveyance of land, (iv) a Loan of up to $990,000 in HOME Funds and the execution of related documents, (v) the execution of a tax increment development agreement, LCDA and TBRA Subgrant agreements, and related documents, and (vi) an HRA budget amendment, all for the West Side Flats Phase IIIB Apartments Project, District 3, Ward 2
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) has heretofore established the Saint Paul Riverfront Redevelopment Project Area, as expanded (the “Project Area”) and has adopted a redevelopment plan therefor (the “Redevelopment Plan”) pursuant to Minnesota Statutes, Sections 469.001 to 469.047, as amended (the “HRA Act”); and
WHEREAS, the Redevelopment Plan contains an identification of need and a statement of purpose and objectives, land uses and standards for development 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; and
WHEREAS, it has been proposed that within the Project Area, the HRA create the Tax Increment Financing District (West Side Flats Phase III Apartments Project) (a housing district) as a housing tax increment financing district under Minnesota Statutes, Section 469.174, Subdivision 11 (the “TIF District”) and adopt a Tax Increment Financing Plan therefor (the “TIF Plan”) therefor, all pursuant to Minnesota Statutes, Sections 469.174 through 469.1794 (the “TIF Act”); and
WHEREAS, the HR...
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