Title
Approving and authorizing the establishment of the Snelling Midway Renewal and Renovation Tax Increment Financing District (a Renewal and Renovation district) in the Saint Paul Neighborhood Redevelopment Project area and adopting a Tax Increment Financing Plan therefor (District 13, Ward 1).
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) has heretofore established the Saint Paul Neighborhood 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 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, 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 469.1794 (the “TIF Act”) the governing body of the municipality must approve the tax increment financing plan after a public hearing thereon; and
WHEREAS, the HRA has asked the City Council (the “Council”) of the City of Saint Paul, Minnesota (the “City”) to approve the creation, within the Project Area, of the Snelling Midway Renewal and Renovation Tax Increment Financing District, as a renewal and renovation tax increment financing district under Minnesota Statutes, Section 469.174, Subdivision 10a (the “TIF District”), and adopt a Tax Increment Financing Plan therefor (the “TIF Plan”), all pursuant to and in accordance with the TIF Act; and
WHEREAS, the TIF District is being established to facilitate the redevelopment of the area bordered by ...
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