Title
Resolution Authorizing a Budget Amendment to Allocate Value Gap Subsidy, Convey Property and Enter into a Development Agreement for the Village on Rivoli Project, District 5, Ward 5
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.; and
WHEREAS, the HRA has the power to engage in development or redevelopment activities under Minnesota law; 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, 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 Minnesota Statues section 469.002, subd. 14; and
WHEREAS, in 2004, Dayton’s Bluff Neighborhood Housing Services (DBNHS) entered into a development agreement for the redevelopment of several properties in the Railroad Island neighborhood; and
WHEREAS, while several stages of redevelopment in Railroad Island have been completed, the Village on Rivoli site, which was contemplated in the agreement, has not yet been developed; and
WHEREAS, for the past several years, DBNHS has been working on the Village on Rivoli site doing cleanup, grading, site assembly, the construction of a stormwater management system, and pursuing funding commitments; and
WHEREAS, DBNHS is now ready to move forward on the first stage of development, which is comprised of seven newly constructed single family homes; and
WHEREAS, the seven lots are currently owned by the HRA and need to be c...
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