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File #: RES 22-126    Version: 1
Type: Resolution Status: Archived
In control: Housing & Redevelopment Authority
Final action: 1/26/2022
Title: Resolution Approving and Authorizing the Submission of a Grant Application to the Economic Development Administration (EDA) Agency of the U.S. Department of Commerce for the American Rescue Plan Act Economic Adjustment Assistance Notice of Funding Opportunity (ARPA-EAA NOFO), requesting $1,250,000 to capitalize a Revolving Loan Fund (RLF) with support from the HRA’s Business Assistance Fund, Citywide
Sponsors: Chris Tolbert
Attachments: 1. Board Report
Title

Resolution Approving and Authorizing the Submission of a Grant Application to the Economic Development Administration (EDA) Agency of the U.S. Department of Commerce for the American Rescue Plan Act Economic Adjustment Assistance Notice of Funding Opportunity (ARPA-EAA NOFO), requesting $1,250,000 to capitalize a Revolving Loan Fund (RLF) with support from the HRA’s Business Assistance Fund, 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, to continue support for small businesses impacted by the COVID-19 pandemic, staff request approval and authorization to apply for a grant in the amount of $1,250,000 from the Economic Development Administration (EDA) Agency of the U.S. Department of Commerce through the American Rescue Plan Act Economic Adjustment Assistance Notice of Funding Opportunity (“ARPA-EAA NOFO”), as more fully described in the staff report submitted to the HRA Board with this Resolution; and

WHEREAS, the ARPA-EAA NOFO require...

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