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St. Paul HRA approves conduit lease-revenue bonds for two charter schools; Commissioner Yang votes no
Summary
The St. Paul Housing and Redevelopment Authority on Thursday approved two resolutions authorizing the issuance and sale of conduit charter school lease-revenue and refunding bonds under Minnesota Statutes sections 469.152–469.1655 for Nova Classical Academy (1455 Victoria Way) and Twin Cities Academy (690 Birmingham Street), each adopted 4-1.
The St. Paul Housing and Redevelopment Authority on Thursday approved two resolutions authorizing the issuance and sale of conduit charter school lease-revenue and refunding bonds under Minnesota Statutes sections 469.152–469.1655 for Nova Classical Academy (1455 Victoria Way) and Twin Cities Academy (690 Birmingham Street). Both measures passed by 4-1 votes, with Commissioner Yang recorded as the lone dissent.
The approvals came after the authority opened and immediately closed public hearings on each item; no members of the public spoke on either project. The resolutions authorize bond financing and approval of related documents as presented to the authority.
The votes matter because the resolutions use the HRA as a conduit issuer under state statute, enabling the schools to obtain…
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