July 8, 2026 - Housing & Redevelopment Authority Meeting

The City of Saint Paul's Housing & Redevelopment Authority (HRA) held a meeting on July 8, 2026, focusing on two key procurement-related items. First, the HRA discussed a proposed amendment to the TWV limited partnership loan involving three affordable housing properties managed by CommonBond. The amendment seeks to remove the Torrey De San Miguel property from the original loan collateral to facilitate its November 2026 financial closing, reducing financing complexity and costs. The loan, originally $275,000 and now approximately $727,000 with interest, is deferred with no payments made to date. The HRA staff recommended approval of this loan modification, with formal action expected at the next meeting. Second, the HRA introduced a proposed three-year lease agreement with Union Pacific Railroad for exclusive use of HRA-owned property at 43 Water Street to support the reconstruction of the Mississippi River Lift Bridge. The lease would generate $19,200 annually, exceeding current parking revenue, and includes maintenance and security responsibilities for Union Pacific. The lease aims to minimize community disruption during the bridge project. Final approval of the lease is scheduled for the July 22 meeting. No votes were taken during this session, as both items were introductions pending future action.