Title
Resolution Approving and Authorizing a Grant of $75,000.00 to Hmong Village, LLC for Expansion of Its Parking Lot and Required Landscaping, District 4, Ward 6
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, Hmong Village, LLC (“Developer”) has operated a market at 1001 Johnson Parkway, Saint Paul, Mn since 2010 and due to its success, there is a need by Developer to expand its parking lot, and Developer is proposing to acquire additional land from St. Paul Parks and Recreation, grade it and add landscaping (“Project”), as more fully described in the staff report submitted to the HRA Board with this resolution; and
WHEREAS, the estimated cost of the Project is $700,110, and Developer is requesting a $75,000.00 grant from the HRA to partially finance the Project on terms set forth in the staff report (“Financing”), and by this resolution the HRA approves this Financing and finds a public purpose for the expenditure of public funds for the Project.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota that:
1. The HRA Board of Commissioners hereby approves the Financing for the Project contingent on: (a) the Developer securing from other sources the necessary funds to complete the Project, and (b) compliance with the HRA’s compliance requirements by the Developer as set forth in the staff report and grant agreement.
2. The HRA Executive Director, staff and legal counsel for the HRA are further directed and authorized to take all actions necessary to implement this Resolution. The HRA’s Executive Director is authorized to execute any documents and instruments in connection with this Resolution.