Title
Resolution amending the Redevelopment Plan for the Ford Site Redevelopment Project Area; approving the adoption of a Second Amendment to the Tax Increment Financing Plan for the Ford Site Redevelopment Tax Increment Financing District; and approving an HRA budget amendment; District 15, Ward 3
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) has heretofore established the Ford Site 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, as amended (the “HRA Act”); and
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; and
WHEREAS, it has been proposed that the HRA amend the existing Redevelopment Plan for the Project Area to enlarge the Project Area pursuant to the HRA Act; and
WHEREAS, it has also been proposed that the HRA amend the Tax Increment Financing Plan (the “TIF Plan”) for the Ford Site Redevelopment Tax Increment Financing District, which is located in the Project Area, (the “TIF District”) pursuant to and in accordance with the HRA Act and Minnesota Statutes, Sections 469.174 through 469.1794, inclusive, as amended (the “TIF Act”); and
WHEREAS, the HRA has investigated the facts and has caused to be prepared a First Amendment to Redevelopment Plan (the “1st Amendment to Redevelopment Plan”) and a Second Amendment to the Tax Increment Financing Plan (the “2nd Amendment to TIF Plan”); and
WHEREAS, the HRA or the Council has performed all actions required by law to be performed prior to the 1st Amendment to Redevelopment Plan and 2nd Amendment to TIF Plan, includin...
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