Title
Resolution approving continuation of parking revenue sharing payment for World Trade Center Parking Ramp with Minnesota Children’s Museum, District 17, Ward 2
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, under a parking agreement with the Minnesota Children Museum (“MCM”) executed in the 1990s (“HRA Parking Agreement”), the HRA agreed to a parking agreement for parking spaces in the HRA owned World Trade Center Parking Ramp (“Ramp”) that included a revenue sharing payment based on the number of MCM’s patrons who parked in the Ramp; and
WHEREAS, the HRA Parking Agreement expired in 2012, at which time Principal Life Insurance (“Principal”), who then controlled the operations at the Ramp, continued to honor the same parking terms with MCM; and
WHEREAS, effective June 1, 2018 the HRA regained management of the Ramp for a two to three month period pending the sale of the Ramp to the owner of the World Trade Center tower, and
WHEREAS, pending the sale, MCM ha...
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