Title
Resolution approving execution of a parking space license and revenue sharing agreement for the World Trade Center Parking Ramp, 475 Cedar Street, with MCM Holdings, an affiliate of the Minnesota Children’s Museum, 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 Minn Stat Section 469.002, Subd. 14; and
WHEREAS, by Resolution 18-1231 (“Prior HRA Resolution”) the HRA Board of Commissioners approved on a temporary basis the licensing of certain parking spaces in the HRA owned World Trade Center Ramp located at 475 Cedar Street, Saint Paul, Mn (“Parking Facility”) at certain rates and payment of revenue sharing to Minnesota Children’s Museum (“MCM”) pending a possible sale of the Parking Facility; and
WHEREAS, subsequent to the Prior HRA Resolution, the HRA Board approved by Resolution 18-1897 a settlement agreement between the HRA and Principal Mutual Life Insurance Company (“Principal”) whereby the HRA retained ownership of the Parking Facility instead of selling it to Principal and, and thereafter ...
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