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Council approves TIF plan and paves way for St. Joseph’s site redevelopment
Summary
The council adopted a tax‑increment financing plan and related authorizations to prepare about 5.5 acres of the former St. Joseph’s Hospital campus for redevelopment, including up to $6 million in temporary bonds to reimburse demolition and remediation costs; the Port Authority and Fairview will partner on site preparation and marketing.
The Saint Paul City Council voted to establish a tax‑increment financing (TIF) district and authorized related financing steps to prepare roughly 5.5 acres of the former St. Joseph’s Hospital site for redevelopment.
Mike Solomon, chief financial officer for the Saint Paul Port Authority, told the council the Port Authority and Fairview have formed a partnership in which Fairview will pay demolition and remediation costs up front and be reimbursed for eligible costs. Solomon said the Port Authority may…
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