Title
Resolution approving guidelines and funding for the 2024 4d Affordable Housing Incentive 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 Statute Section 469.002, Subd. 14; and
WHEREAS, the Saint Paul City Council, through Resolution 17-2064, directed staff from the Planning and Economic Development department (“PED”) of the City of Saint Paul to research and work with housing partners on strategies to further fair housing goals, such as a tax policy to provide property tax reductions for eligible rental property owners; and
WHEREAS, the Saint Paul City Council, through Resolution 18-2072, adopted the 2019 budget as proposed by the Mayor; and
WHEREAS, Minnesota Statute Section 273.128 provides that low-income rental properties may qualify for a class-rate reduction in property taxes through terms of financial assistance provided by a local unit of government; and
WHEREAS, the HRA Board of Commissioners, through Resolutions 19-273, 19-2132, 20-1490, 21-1623, and 22-1595 approved the annual...
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