Title
Authorizing a grant up to $70,000 from the HRA Business Assistance Fund to tenants of the Alliance Bank Building, 55 East 5th Street, District 17, Ward 2
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) is a public body corporate and politic established pursuant to the provisions of Minnesota Statutes, Section 469.001, et seq. (the “Act”); and
WHEREAS, the HRA has the power to engage in development or redevelopment activities under Minnesota law and the HRA is authorized to engage in activities relating to (a) housing projects and development, (b) removal and prevention of the spread of conditions of blight or deterioration, (c) bringing substandard buildings and improvements into compliance with public standards, (d) disposition of land for private redevelopment, and (e) improving the tax base and the financial stability of the community, and to engage in the aforementioned activities
when these needs cannot be met through reliance solely upon private initiative and which can also be undertaken in targeted neighborhoods; and is authorized to create redevelopment projects as defined in Minnesota Statutes, Section 469.002, Subdivision 14; and
WHEREAS, The Alliance Bank Building, located at 55 East 5th Street in the City of Saint Paul, has been abandoned by its owner, Madison Equities, and will become uninhabitable by April 1, 2025 because utilities will be shut off to the building on that date; and
WHEREAS, On March 10, 2025, tenants of the Alliance Bank Building were provided notice to vacate the building, by Madison Equities; and
WHEREAS, The tenants of the Alliance Bank Building are facing a hardship due to the abrupt notice to vacate the building, and have requested assistance from the City of Saint Paul to help with expenses incurred to quickly move from the building and build out expenses incurred to keep tenants in St. Paul; and
WHEREAS, Staff reviewed and evaluated this request ...
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