Title
Resolution approving and designating the Kaeding Management Group as tentative developer for the HRA-owned parcel known as Seven Corners Gateway Site, 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, 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 financial stability of the community when these needs cannot be met through reliance solely upon private initiative and that can be undertaken in targeted neighborhoods; and
WHEREAS, the HRA is authorized to create redevelopment projects as defined in Minn Stat Section 469.002, Subd. 14; and
WHEREAS, HRA staff issued a Request for Proposals (“RFP”) for the HRA-owned site known as the Seven Corners Gateway Site located in downtown Saint Paul, MN directly across from the Xcel Energy Center and bounded by Smith Avenue, Kellogg Boulevard, West Seventh and Fifth Streets (“Development Site”); and
WHEREAS, two responses were received to the RFP to use the Development Site for residential, retail and hotel purposes; and
WHEREAS, after reviewing the proposals and interviewing the proposers, HRA staff recommended and the HRA Board granted Opus Development Company, LLC and Greco, LLC (collectively the “Original Developers”) tentative developer status for the Development Site because the Original Developers’ proposal to create public green space, a hotel, apartments and retail space on the Development Site (“Project”) best accompli...
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