Title
Authorizing a Second Amendment to Funding Agreement with the City of Saint Paul Regarding the Snelling Midway Redevelopment Site; authorizing assignment of rights and obligations under the parking spaces license agreement relating to the Spruce Ramp Parking Ramp; District 13, Ward 1
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, the City of Saint Paul (“City”), through the action of its City Council (the “Council”) on August 26, 2015, adopted RES 15-1539 supporting the development of a Major League Soccer Stadium (the “Stadium”) at the site located at 400 N. Snelling Avenue, Saint Paul, Minnesota (the “Bus Barn Property”) by MUSC Holdings, LLC (the “Team”); and
WHEREAS, the Bus Barn Property is part of a larger Snelling Midway block consisting of approximately 34.5 acres located in Saint Paul, Minnesota and bounded by Snelling Avenue, University Avenue, Pascal Avenue and St. Anthony (“Midway Development Site”); and
WHEREAS, the HRA Board of Commissioners...
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