TITLE
Authorizing the Department of Planning and Economic Development to apply to the Metropolitan Council's Tax Base Revitalization Account fund for a project at 680 and 694 Minnehaha Avenue East (Hamm's Brewery redevelopment), and 176 Robert Street South (Soul).
BODY
WHEREAS the City of Saint Paul is a participant in the Livable Communities Act's Local Housing Incentives Account Program for 2023 as determined by the Metropolitan Council, and is therefore eligible to apply for funds within Tax Base Revitalization Account (TBRA) programs; and
WHEREAS the City has identified that the Hamm's Brewery redevelopment and Soul development projects meet the Tax Base Revitalization Account’s criteria and are consistent with and promote the purposes of the Metropolitan Livable Communities Act and the policies of the Metropolitan Council’s adopted metropolitan development guide; and
WHEREAS the City has the institutional, managerial and financial capability to ensure adequate project and grant administration; and
WHEREAS the City certifies that it will comply with all applicable laws and regulations as stated in the contract grant agreements; and
WHEREAS the City finds that the required contamination cleanup will not occur through private or other public investment within the reasonably foreseeable future without TBRA grant funding; and
WHEREAS the City represents that it has undertaken reasonable and good faith efforts to procure funding for the activities for which Livable Communities Act Tax Base Revitalization Account funding is sought but was not able to find or secure from other sources funding that is necessary for cleanup completion and states that this representation is based on the following reasons and supporting facts:
? The City of Saint Paul has no general fund resources to invest in site investigations or remediation activities; and
? Tax increment financing is not a viable financing tool for the project co...
Click here for full text