Title
Approval of a Forgivable Loan from the Neighborhood Commercial Parking Program to the Oromo Center of Minnesota at 465 Mackubin Street, District 8, 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 construction of light rail in the Central Corridor will result in the loss of 85% of the on-street parking on University Avenue, which threatens to displace many local businesses; and
WHEREAS, to mitigate the effects of this loss, on August 12, 2009, by Resolution 09-08/12, the HRA approved the Neighborhood Commercial Parking Pilot Program Guidelines ("Guidelines") and amended the budget to fund forgivable loans to make improvements to off street parking facilities; and
WHEREAS, on March 10, 2010, by Resolution 10-3/10-4, the HRA approved amendments to several tax increment plans that financed various improvements to the Central Corridor, including $1.5 million for parking improvements; and
WHEREAS, in the spring of 2013, the Parking Program solic...
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