Title
Resolution Approving the LISC CAT Fund Master Participation Agreement Amendment, Citywide?
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (“HRA”) is a public body corporate and politic organized, existing, and operating under the laws of the State of Minnesota, Minn. Stat. Sec. 469.001, et seq. (the “Act”); and?
WHEREAS, the HRA has the power to engage in development and redevelopment activities under the Act,? and is authorized to create redevelopment projects as defined in the Act, and said activities include but are not limited to: (a) providing adequate, safe and sanitary dwellings, remedying housing shortages for low and moderate income residents, and providing housing for persons of all incomes through housing projects and development, (b) removing and preventing blight or deterioration, (c) bringing substandard buildings and improvements into compliance with public standards, (d) performing duties according to the comprehensive plan, (e) disposing of land for private redevelopment, and (f) improving the tax base and the financial stability of the community; and?
WHEREAS, the civil unrest following the murder of George Floyd in May 2020 significantly impacted businesses and properties within the City of Saint Paul; and
WHEREAS, the HRA previously established a $1,000,000 Civil Uprising Budget in fiscal year 2021 to provide necessary business assistance through RES 20-1681; and
WHEREAS, a primary goal was to facilitate the transfer of properties in areas affected by the civil unrest to existing businesses, local residents, and community-based owners to foster economic empowerment and strengthen the community, particularly in light of the dual challenges posed by social unrest and the ongoing COVID-19 public health emergency; and
WHEREAS, the Local Initiatives Support Corporation Twin Cities (LISC) established The Community Asset Transition (“CAT”) Fund to offer adaptable and affordabl...
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