Title
Resolution approving the amendment of the Rental Rehabilitation Loan Program Policies, 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 Minn Stat Section 469.002, Subd. 14; and
WHEREAS, on July 26, 2017, the HRA passed Resolution 17-1158, approving the Rental Rehabilitation Loan Program Guidelines that establish baseline considerations and guidance for implementation of the rental Rehabilitation Loan Program; and
WHEREAS, on January 24, 2018, the HRA passed Resolution 18-142, approving the amendment of the Rental Rehabilitation Loan Program guidelines to fund the rehabilitation of properties graded A or B by the City of Saint Paul’s Department of Safety and Inspection (“DSI”) that are located in ACP50 areas; and
WHEREAS, HRA staff proposes amending the Rental Rehabilitation Loan Guidelines as follows:
• Increasing the number of eligible units from 4 to 7 units per property;
• Including properties in non-impacted areas that are graded A and B;
• Restricting the income to 60% Area Median Income (AMI) to at least 50% of the units on eligible properties Citywide; and
• Increasing the loan amount from $30,000.00 to $40,000.00.
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 amending the Rental Rehabilitation Loan Program Guidelines as presented by HRA staff.
2. 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 Rental Rehabilitation Loan 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.