Title
Resolution approving the guidelines and funding for the Downpayment Assistance Program
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 Minnesota Statute Section 469.002, Subd. 14; and
WHEREAS, pursuant to Minnesota Statute Section 469.012, subd. 13, the HRA has the power to develop and administer a downpayment assistance loan and grant program with respect to property located within the City of Saint Paul on terms and conditions the HRA determines; and
WHEREAS, before carrying out such a downpayment assistance loan and grant program, the HRA must find that the program is necessary in the areas in which it is made available in furtherance of an HRA policy to promote economic integration or to encourage owner occupancy of single-family residences; and
WHEREAS, the Saint Paul City Council, through Resolution 18-1204, called for a Downpayment Assistance Program in the 2019 budget to benefit Saint Paul residents who wish to become homeowners and to provide additional support for first-time home buyers; and
WH...
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