Title
Resolution Approving and Authorizing the Execution of a Loan Agreement of $1,000,000.00 in TIF Funds for the Dorothy Day Residences Project, 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, Catholic Charities (“Developer”) is ready to implement the next phase of its redevelopment described as the Dorothy Day Opportunity Center and Residences project (“Project”) having completed its new Higher Ground facility project; and
WHEREAS, the Project will be a mixed use, six story building, consisting of two separate components- the first two floors will house the Opportunity Center, an integrated service delivery center with a kitchen/dining room, health clinic and other services, and the top four floors will include 171 affordable, single room occupancy and efficiency units (“Housing Project”); all as more fully described in the staff report submitted to the HRA B...
Click here for full text