Title
Resolution Authorizing Grant of Value Gap Assistance in the Amount of up to $120,023.59 to Urban Homeworks, Inc. Frogtown Planning District 7, Ward 1.
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (HRA), has duly adopted and there is now lawfully in effect in the City of Saint Paul, Minnesota, a City Wide Comprehensive/Redevelopment Plan (Plan) providing for the acquisition, clearance and resale of land for redevelopment which includes Frogtown District 7 area within the Plan and the City Consolidated Five-Year Plan; and
WHEREAS, on November 19, 2008 the City Council approved by Resolution 08-1270 the NSP plan and its submission to HUD for $4.3 million in funding and on January 28, 2009 the City received a letter from HUD approving the NSP Plan and funding; and
WHEREAS, on January 28, 2009, the City Council approved by Resolution 09-103 the NSP plan and its submission to Minnesota Housing for $6.3 million in funding and it was approved February 23, 2009; and
WHEREAS, on February 25, 2009 the HRA approved the Neighborhood Stabilization Program and Rebuilding Plan 2009-2013 under Invest Saint Paul Initiative and approved a budget amendment to carry out Programs/Plans which included the acquisition of properties in designated ISP/NSP areas; and
WHEREAS, on March 24, 2010, by Resolution 10-3/24-3 the HRA accepted and approved the budget for NSP 2 funds ($18.0 million) to continue to carry out activities under the NSP Rebuilding Plan 2009-2013; and
WHEREAS, on February 23, 2011, by Resolution 11-387 and on April 20, 2011, by Resolution 11-623 the City Council accepted and approved budget for NSP 3 funds ($3.1 million) to continue to carry out activities under the NSP Rebuilding Plan 2009-2013; and
WHEREAS, on November 28, 2012, the HRA approved by Resolution 12-2129 the Affordable Housing Trust Fund Allocation Plan, which included authorization to fund a development gap financing program at the Twin Cities ...
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