Title
Approving and Allocating the 2015 Funding Recommendations in the Amount of $1,000,000 from the annual sales tax revenue Pay-Go Economic Development Fund to provide funding for the Commercial Vitality Zone Program, Ford Site Planning, and the Saint Paul Design Center budget
Body
WHEREAS, the Commercial Vitality Zone program (“Program”) is a commercial economic development program funded by an annual sales tax revenue account from the City of Saint Paul’s ½ cent local sales tax; and
WHEREAS, the purpose of the Program is to utilize a nimble, flexible approach to commercial revitalization throughout the city by investing in neighborhood commercial corridor districts that have assets with potential, organizations with capacity, and community-developed plans; and
WHEREAS, the goal of the Program is to invest in catalytic zones where: 1) other investments can be leveraged; 2) there is an existing pre-development strategy; 3) equity can be promoted by targeting Racially Concentrated Areas of Poverty; 4) those projects have the potential to meet expected outcomes of the Program related to vitality and growth; and 4) identified feasible and visible projects exist; and
WHEREAS, City staff recommends the Program annually dedicate the majority of funding for implementation, and a small portion for pre-development planning; and
WHEREAS, City staff recommends Commercial Vitality Zones for implementation in 2015 as follows: 1) Como-Front-Dale intersection Lower Payne Avenue to receive $337,500; 2) Phalen Village to receive $337,500; and 3) North Snelling Avenue to receive $75,000, as outlined in the attached staff report entitled “Commercial Vitality Zone - 2015 Funding Recommendations” (“Staff Report”); and
WHEREAS, City staff recommends funding for the 2016 Commercial Vitality Zone program as follows: 1) Lower Payne Avenue Como-Front-Dale intersection to receive $350,000 for implementation; 2) East 7th Street and Arcade Street to receive $350,000 for implementa...
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