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Invest Saint Paul Work Plan
Background
On August 8, 2007, the Saint Paul Housing and Redevelopment Authority (HRA) board approved the Invest Saint Paul (ISP) Planning and Economic Development (PED) work plan and budget. The City earmarked $25 million of Sales Tax Revitalization (STAR) ‘jumpstart’ funds for strategic projects aligned with the overall Invest Saint Paul goals, of which $17 million was designated for ISP activities managed by PED. These STAR bonds were allocated to rebuild neighborhoods hardest hit by the decline of the housing market and foreclosure crisis.

The total budget for the ISP work plan proposed to the HRA board was over $66 million. To meet the goals outlined in the work plan, additional sources of funding are needed to supplement the original $17 million from STAR. Additional funding has come from grants, low interest loans, and other non-profit organizations.

PED Work Plan Seven Areas of Focus
In order to improve residents’ quality of life, the work plan is divided into seven core areas needed to stabilize and rebuild sustainable neighborhoods and promote and support future growth.

  • Organization Support/Community Outreach
  • Strategic Acquisition
  • Rehabilitation
  • Mortgage Financing/Marketing Incentives
  • Neighborhood Commercial Corridors
  • Development Projects
  • Regulatory Services/Enforcement

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