Title
Resolution (i) Amending the Redevelopment Plan for the Koch-Mobil Redevelopment Project Area; (ii) Approving the Adoption of an Amendment to the Tax Increment Financing Plan for the Koch Mobil Tax Increment Financing District; (iii) Authorizing Execution of an Amendment to Development and Loan Agreement, Promissory Note, and Combination Mortgage, Security Agreement and Fixture Financing Statement with West 7th/Fort Road Federation, Inc.; and (iv) Amending the Resolution Authorizing and Approving an Interfund Loan for the Koch Mobil Tax Increment Financing District, District 9, Ward 2
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) has heretofore established the Koch-Mobil Redevelopment Project Area (the “Project Area”) and has adopted a redevelopment plan therefor (the “Redevelopment Plan”) pursuant to Minnesota Statutes, Sections 469.001 to 469.047, as amended (the “HRA Act”); and
WHEREAS, the Redevelopment Plan contains an identification of need and statement of objectives and program of the HRA for carrying out of a redevelopment project, including property to be acquired, public improvements to be provided, development and redevelopment to occur, and sources of revenue to pay redevelopment costs within the Project Area; and
WHEREAS It has been proposed that the HRA amend the existing redevelopment plan (the “Redevelopment Plan”) for the Koch-Mobil Redevelopment Project Area (the “Project Area”) to enlarge the Project Area pursuant to the HRA Act; and
WHEREAS It has also been proposed that the HRA amend the Tax Increment Financing Plan (the “TIF Plan”) for the Koch Mobil Tax Increment Financing District, which is located in the Project Area, (the “TIF District”) pursuant to and in accordance with the HRA Act and Minnesota Statutes, Sections 469.174 through 469.1794, inclusive, as amended (the “TIF Act”); and
WHEREAS, the HRA has investigated the facts and has caused to be prepared a First Amendment ...
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