Title
Approving the establishment of the Schmidt Brewery Redevelopment Project Area and the Schmidt Brewery Tax Increment Financing District, and approving a redevelopment plan and tax increment financing plan therefor.
Body
WHEREAS, the City Council of the City of Saint Paul (the “Council”) has the statutory responsibility under Minnesota Statutes, Section 469.028, to approve redevelopment plans and projects of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”), after public hearing thereon; and
WHEREAS, Minnesota Statutes, Section 469.175 requires that before a county auditor may certify a tax increment financing district created under Minnesota Statutes, Section 469.174 to 469.1799 (the “Tax Increment Act”) the governing body of the municipality must approve the tax increment financing plan after a public hearing thereon; and
WHEREAS, the HRA proposes to undertake the Schmidt Brewery Redevelopment Project (the “Project”), and has submitted to the Council a redevelopment plan (the “Redevelopment Plan”) therefor; and
WHEREAS, said 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 of the Project; and
WHEREAS, the Saint Paul Planning Commission has reviewed said Redevelopment Plan, and approved the same as being in conformity with the Saint Paul Comprehensive Plan and the general plan for the development and redevelopment of the City as a whole; and
WHEREAS, the HRA has asked the Council to approve the creation, within the Project Area, of a Tax Increment Financing District as a housing tax increment financing district under Minnesota Statutes, Section 469.174, Subdivision 11 (the “Tax Increment Financing District”), and the adoption of a Tax Increment Financing Plan (th...
Click here for full text