Title
Resolution approving guidelines and funding for the 2019 4(d) Affordable Housing Incentive program
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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 Council of the City of Saint Paul through Resolution 17-2064 directed staff to research and work with housing partners on strategies to further Fair Housing goals such as a 4(d) tax policy to provide property tax reductions for eligible rental property owners; and
WHEREAS, the Council of the City of Saint Paul through Resolution 18-2072 adopted the 2019 budgets as proposed by the Mayor; and
WHEREAS, the HRA of the City of Saint Paul through Resolution 18-2079 adopted the final 2019 HRA budget; and
WHEREAS, the Council of the City of Saint Paul through Resolution 18-2080 adopted the 2019 final HRA budget; and
WHEREAS, the department of Planning and Economic Development budget as adopted by the City Council of Saint Paul allocated $12,000,000 to the Housing Trust Fund to create new affordable housing, preserve existing affordable housing, and protect the quality of affordable housing in Saint Paul; and
WHEREAS, Minnesota Statute 273.128 provides that qualifying low-income rental properties are eligible for a class rate reduction in property taxes; and
WHEREAS, HRA staff has developed 4(d) Affordable Housing Incentive Program Guidelines to establish baseline considerations and guidance for implementation of the 4(d) Program;
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 4(d) Affordable Housing Incentive Program Guidelines as presented by the staff.
2. The HRA Board of commissioner approves the allocation of $60,000 from the Affordable Housing Trust Fund for the expenses as described in the staff report.
3. 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, and to amend the 4(d) Affordable Housing Incentive Program Guidelines as necessary, so long as the amendments are consistent with the intent of this Resolution. The HRA’s Executive Director is authorized to execute any documents and instruments in connection with this Resolution.