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File #: RES 19-859    Version: 1 Name: 848 Payne Aveneu TIF
Type: Resolution Status: Archived
In control: Housing & Redevelopment Authority
Final action: 5/22/2019
Title: Resolution (i) approving the establishment of the 848 Payne Avenue Housing Project Area and the Tax Increment Financing District (848 Payne Avenue Housing Project), (ii) approving a Housing Development and Redevelopment Plan and Tax Increment Financing Plan, respectively, therefor, (iii) authorizing execution of a tax increment development agreement, and (iv) approving an HRA budget amendment, District 5, Ward 6
Sponsors: Chris Tolbert
Attachments: 1. Board Report, 2. Budget Amendment, 3. Housing Development and Redevelopment Plan and TIF Plan, 4. Project Summary, 5. Map, 6. Sources & Uses, 7. Public Purpose, 8. District 5 Profile
Related files: RES PH 19-101
Title
Resolution (i) approving the establishment of the 848 Payne Avenue Housing Project Area and the Tax Increment Financing District (848 Payne Avenue Housing Project), (ii) approving a Housing Development and Redevelopment Plan and Tax Increment Financing Plan, respectively, therefor, (iii) authorizing execution of a tax increment development agreement, and (iv) approving an HRA budget amendment, District 5, Ward 6
Body
WHEREAS, there has been submitted to and considered at this meeting of the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) a Redevelopment Plan (the “Redevelopment Plan”) for the 848 Payne Avenue Housing Project area (the “Project Area”) pursuant to Minnesota Statutes, Section 469.001 to 469.047, as amended (the “HRA Act”); and

WHEREAS, the proposed Redevelopment Plan contains an identification of need and a statement of purpose and objectives, land uses and standards for development for carrying out a redevelopment project, including property to be acquired, public improvements to be provided, development and redevelopment to occur, and sources of revenue to pay redevelopment costs within the Project Area; and

WHEREAS, the Saint Paul Planning Commission, on March 22, 2019, reviewed said Redevelopment Plan, and adopted resolution #19-12 approving the same as being in conformity with the Saint Paul Comprehensive Plan and the general plan for the development and redevelopment of the City as a whole; and

WHEREAS, the Redevelopment Plan will preserve and enhance the tax base available to finance municipal services and will provide affordable housing opportunities, thereby achieving the purposes and objectives of the HRA Act; and

WHEREAS, it has been proposed that within the Project Area, the HRA create the Tax Increment Financing District (848 Payne Avenue Housing Project) as a housing tax increment financing district under Minnesota Statutes, Section 469.174, Subdivision 11 (t...

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