Title
Resolution approving a $49,000 CDBG Loan to Crasqui Restaurant, LLC for new job creation and interior restaurant rehabilitation project at 84 Wabasha Street S., District 3, Ward 2
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 operator of Crasqui Restaurant, LLC is proposing to lease and rehabilitate an existing space and open a new restaurant located at 84 Wabasha Street S. (“Property”) to construct the restaurant space in order to create new jobs (the “Project”), as described in the staff report submitted to the HRA Board with this resolution (the “Board Report”); and
WHEREAS, the HRA Board finds there is a proper public purpose for providing the loan to Crasqui Restaurant, LLC for the Project, including to create and retain jobs, support investment in low-to-moderate income areas, and support the tax base; and
WHEREAS, the completion of the Project by Crasqui Restaurant LLC will meet a HUD national objective, as identified by the accompanying B...
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