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St. Paul HRA approves up to $70,000 to help Alliance Bank building tenants move downtown
Summary
The Housing and Redevelopment Authority voted to waive existing Business Assistance Fund guidelines to authorize up to $5,000 per tenant to cover moving and build-out costs after the Alliance Bank building owner gave tenants short notice to vacate.
The St. Paul City Housing and Redevelopment Authority voted to authorize up to $70,000 from its Business Assistance Fund to help tenants of the Alliance Bank building at 55 East Fifth Street with emergency moving and build-out costs.
The resolution (25-500) passed unanimously by the five commissioners present after staff requested waivers of existing fund rules to allow grants, rather than loans, of up to $5,000 per tenant and to make nonprofits eligible for assistance.
Director Newton, speaking for staff, said Madison Equities notified tenants on March 10 that they would need to vacate within 48 hours and that utilities…
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