St. Paul approves $9M TIF at Grand–Victoria
The St. Paul City Council on Dec. 18 approved a $9 million tax‑increment financing district at Victoria Street and Grand Avenue to support redevelopment in the area. The public‑financing measure formalizes a significant city investment mechanism for the corridor.
📌 Key Facts
- Approving body: St. Paul City Council
- Financing: $9 million tax‑increment financing district
- Location: Victoria St. and Grand Ave., St. Paul (Ramsey County)
📊 Relevant Data
In the Twin Cities metropolitan area, which includes St. Paul, the homeownership rate gap between Black and White households is 41.5 percentage points.
After recent successes, Twin Cities region's housing-supply progress slips — Minneapolis Fed
In Minnesota, Black households have a homeownership rate of 31 percent, compared to 70 percent for White households.
Legislators hear bill aiming to close racial gap in homeownership — Minnesota House of Representatives
To qualify for a redevelopment TIF district in Minnesota, 70 percent of the parcels in the district must be occupied by buildings or similar structures, and at least 50 percent of the buildings must be structurally substandard.
Redevelopment TIF Districts — Minnesota House of Representatives
The Macalester-Groveland neighborhood in St. Paul has a population that is 75.7% White, 6.3% Asian, 5.6% Hispanic or Latino, and 2.7% Black.
Macalester-Groveland neighborhood in Saint Paul, Minnesota (MN), 55105 detailed profile — City-Data.com
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