Share to Facebook Share to Twitter Bookmark and Share
File #: RES 20-902    Version: 1 Name: Downpayment Assistance Program Grant Acceptance
Type: Resolution Status: Archived
In control: Housing & Redevelopment Authority
Final action: 6/24/2020
Title: Resolution authoring the Housing and Redevelopment Authority of the City of St. Paul to participate in the Minnesota Housing Finance Agency Community Homeownership Impact Fund and accept a grant for $1,025,000 for the St. Paul HRA Downpayment Assistance Program, Citywide
Sponsors: Chris Tolbert
Attachments: 1. Board Report, 2. Financial Analyis, 3. Map, 4. Downpayment Assistance Program Guidelines
Related files: RES 19-1970, RES 18-1204
Title

Resolution authoring the Housing and Redevelopment Authority of the City of St. Paul to participate in the Minnesota Housing Finance Agency Community Homeownership Impact Fund and accept a grant for $1,025,000 for the St. Paul HRA Downpayment Assistance Program, Citywide

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 Statutes section 469.002, subdivision 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, call...

Click here for full text
Date NameDistrictOpinionCommentAction
No records to display.