Title
Resolution approving and authorizing the waiver of the maximum per-unit subsidy for four properties under the Inspiring Communities program, Districts 5, 6 and 9, Wards 2 and 5
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 Statues, 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, the HRA has duly adopted and there is now lawfully in effect in the City of Saint Paul, Minnesota, a Citywide Comprehensive/Redevelopment Plan providing for the acquisition, clearance and resale of land for redevelopment and a City Consolidated Five-Year Plan; and
WHEREAS, on July 24, 2013, by Resolution 13-1097, the HRA Board accepted and approved the HRA Disposition Strategy Work Plan and Budget (“Plan”) to address the disposition of certain parcels of real property owned by the HRA; and
WHEREAS, on October 9, 2013, by Resolution 13-1592, the HRA Board accepted and approved key terms of the Plan’s Inspiring Communities Program (“Program”), which included a maximum gross subsidy cap per unit of $150,000 (the “Cap”); and
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