Title
Resolution Approving a Budget Amendment to the HRA Loan Enterprise Fund and an Amendment to the Invest Saint Paul Budget, Citywide
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, by Resolution PH 16-99, the HRA Board approved the removal of $644,903 in CDBG funds previously budgeted in the Disposition Plan Fund for the Inspiring Communities program for use on another project; and
WHEREAS, by this Resolution, the HRA Board approves the replacement of $644,903 in the Disposition Plan Fund from the HRA Loan Enterprise Fund; and
WHEREAS, by this Resolution, the HRA Board approves the partial loan payment of $96,695 from the Department of Safety and Inspections to be allocated to the Disposition Plan Fund; and
WHEREAS, the HRA Board approves the allocations of $644,903 and $96,695 to the Disposition Plan Fund and continues to find a public purpose for the expenditure of public funds under the Inspiring Communities program.
NOW, THEREFORE, BE IT RES...
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