Title
Resolution amending the Redevelopment Plan for the Riverfront Redevelopment Project Area; approving the adoption of an Amendment to the Tax Increment Financing Plan for the Riverfront Renaissance Redevelopment Tax Increment Financing District; approving record of Restated and Combined Inter Department Loans and execution of related documents; and approving an HRA budget amendment; Districts 3 and 17, Ward 2
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) has heretofore established the Saint Paul Riverfront Redevelopment Project Area (the “Project Area”) and has adopted a redevelopment plan therefor (the “Redevelopment Plan”) pursuant to Minnesota Statutes, Sections 469.001 to 469.047, as amended (the “HRA Act”); and
WHEREAS, the Redevelopment Plan contains an identification of need and statement of objectives and program of the HRA 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, it has been proposed that the HRA amend the existing Redevelopment Plan for the Project Area to enlarge the Project Area pursuant to the HRA Act; and
WHEREAS, it has also been proposed that the HRA amend the Tax Increment Financing Plan (the “TIF Plan”) for the Riverfront Renaissance Redevelopment Tax Increment Financing District, which is located in the Project Area, (the “TIF District”) pursuant to and in accordance with the HRA Act and Minnesota Statutes, Sections 469.174 through 469.1794, inclusive, as amended (the “TIF Act”); and
WHEREAS, the HRA has investigated the facts and has caused to be prepared a Fourth Amendment to Redevelopment Plan (the “4th Amendment to Redevelopment Plan”) and an Amendment to the Tax Increment Financing Plan (the “Amendment to TIF Plan”); and
WHEREAS, the HRA or the Council has performed all actions r...
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