Title
Resolution Approving a Budget Amendment and a First Amendment to Funding Agreement with City of Saint Paul Regarding the Snelling Midway Redevelopment Site; District 13, 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 City of Saint Paul (“City”) City Council on August 26, 2015 adopted Resolution No. 15-1539 (“City Resolution”) supporting the development of a soccer stadium (“Stadium”) at the site located at 400 N. Snelling Avenue, Saint Paul, Minnesota (“Property”) by MUSC Holdings LLC (“Team”); and
WHEREAS, the Property is part of a larger Snelling Midway block consisting of approximately 34.5 acres located in Saint Paul, Minnesota and bounded by Snelling Avenue, University Avenue, Pascal Avenue and St. Anthony (“Midway Development Site”); and
WHEREAS, the HRA Board of Commissioners on March 2, 2016 adopted RES 16-376 that authorized a Stadium project budget in the HRA Development Capital Project Budget (“Original HRA Budget”) for the public infras...
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