Title
Resolution approving and authorizing execution of Funding Agreement with City of Saint Paul for Soccer Stadium Site Infrastructure and Remediation Costs; and approval of a Budget Amendment; District 13, Ward 1
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, the City of Saint Paul (“City”) City Council on August 26, 2015 passed Resolution No. 15-1539 (“City Resolution”) supporting the development of a soccer stadium (“Stadium”) at the site located at 400 N. Snelling Avenue, Saint Paul, Minnesota (“Property”) by MUSC Holdings LLC (“Team”); and
WHEREAS, City staff has been negotiating with the Team the terms of a development agreement (“Development Agreement”), a playing and use agreement (“Use Agreement”) and an environmental project management agreement (“Environmental Agreement”) for the design, construction and operation of the Stadium, and has further been negotiating with Metropolitan Council the terms of a net ground lease for the Property (“Lea...
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