Title
Resolution Approving the Establishment of a Tax Increment Financing District and Approving a Tax Increment Financing Plan (Custom House/Post Office Redevelopment Project), District 17, Ward 2.
Body
WHEREAS, the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota ("HRA") has heretofore established the Riverfront 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; 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 within the Project Area; and
WHEREAS, it has been proposed that, within the Redevelopment Project Area, the HRA create the Custom House/Post Office Tax Increment Financing District (the "TIF District"), as a redevelopment tax increment financing district, and adopt a Tax Increment Financing Plan (Custom House/Post Office Redevelopment Project) (the "TIF Plan") therefor, all pursuant to Minnesota Statutes, Sections 469.174 through 469.1794 (the "TIF Act"); and
WHEREAS, the HRA has investigated the facts and has caused to be prepared the TIF Plan for the TIF District; and
WHEREAS, the HRA has performed all actions required by law to be performed prior to the creation of the TIF District and adoption of a TIF Plan therefor, including, but not limited to, notification of the Ramsey County Commissioner representing the area of the County in which the TIF District is located and transmitting a copy of the TIF Plan to Ramsey County and Independent School District Number 625, which have taxing jurisdiction over the property to be included in the TIF District; and
WHEREAS, the City Council has ...
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