Title
Resolution Approving (i) The Adoption of a Second Amended and Restated Spending Plan for Various Tax Increment Financing Districts under Minnesota Statutes, Section 469.176, Subd 4n and (ii) an HRA Budget Amendment, Citywide
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, Sections 469.001 to 469.047, as amended (the “HRA 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 the HRA has the power to engage in the aforementioned activities when these activities cannot be undertaken solely by private initiative alone and to promote these activities in targeted neighborhoods; and the HRA is authorized to create redevelopment projects as defined in Minnesota Statutes, Section 469.002, Subd. 14; and
WHEREAS, various private entities have requested or identified the need for financial assistance from the HRA for various housing and redevelopment projects; and
WHEREAS, the HRA and the City of Saint Paul, Minnesota (the “City”) have previously established the following tax increment financing districts located in the City (collectively, the “TIF Districts”), and adopted tax increment financing plans therefor, pursuant to the HRA Act and Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the “TIF Act”): (1) Block 4/MN Mutual Redevelopment; (2) North Quadrant Housing; (3) Riverfront Renaissance Redevelopment; (4) Emerald Park ...
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