Title
Approving (i) the establishment of the Fairview/St. Joe’s Tax Increment Financing District (a redevelopment district) in the Downtown St. Paul Industrial Development District and adopting a Tax Increment Financing Plan therefor, and (ii) a modification to the Redevelopment Plan for the Downtown St. Paul Industrial Development District (District 17, Ward 2).
Body
WHEREAS, the Port Authority of the City of Saint Paul (the “Port Authority”) with the powers enumerated under Minnesota Statutes, Sections 469.048 through 469.068 and 469.084, inclusive (the “Port Authority Act”) has proposed to establish the Fairview/St. Joe’s Tax Increment Financing District (a redevelopment district) (the “TIF District”) pursuant to a Tax Increment Financing Plan (the “TIF Plan”) within the existing boundaries of the Downtown Industrial Development District (the “Downtown IDD”) previously established by the Port Authority and the City of Saint Paul, Minnesota (the “City”) which also contains a previously established project area (the “Project Area”); and
WHEREAS, the Port Authority has represented that the TIF Plan also represents a modification and continuation of the previously established redevelopment plan (the “Redevelopment Plan”) for the Downtown IDD and a continuation of the goals and objectives set forth in the Redevelopment Plan; and
WHEREAS, Minnesota Statutes Section 469.175 requires that before a county auditor may certify a tax increment financing district, such as the TIF District, created under Minnesota Statutes Section 469.174 to 469.1794, as amended (the “TIF Act”), the governing body of the municipality must approve the TIF Plan after a public hearing thereon; and
WHEREAS, the Port Authority has entered into an acquisition and Demolition Agreement (St. Joseph’s Hospital) (the “Redevelopment Agreement”) with Fairview Health Services (“Fairview”) which provides for the acquisition, demolition, decoupling and the preparation for redevelopment of a portio...
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