OPENPUBLICA · PUBLIC MEETING RECORD
Record of Proceedings

Saint Paul HRA Meeting - September 9, 2026: Downtown Vitality Fund, Hamm Bonds

Budget Committee — Wednesday, September 9, 2026
BodySt Paul, Minnesota
SessionBudget Committee
DateWednesday, September 9, 2026
StatusNEW · FILED
Video Record
0:00 / 44:56

Transcript — Verbatim
3:50

Here.

3:50

Coleman.

3:51

Here.

3:51

Just Kim.

3:56

Yang.

3:57

Chair Johnson?

3:59

Here.

4:00

Five present to absent.

4:01

That being Commissioner Yang and Commissioner Kim.

4:04

And Commissioner Kim is excused.

4:07

Item number one is a public hearing.

4:10

REST twenty six- two five four.

4:14

Resolution approving amendments to and authorizing the reissuance of conduit multi multifamily housing revenue funds.

4:52

Each person gets two minutes at a time.

4:54

So at this time, I um will look to anyone who is here to give public comment.

5:04

As everyone is rushing to the podium.

5:06

No, I'm just kidding.

5:07

Um we will take a motion from uh Vice Chair Jose to close the public hearing and approve.

5:15

All those in favor.

5:16

Aye.

5:16

Aye.

5:17

All opposed.

5:19

Six in favor, zero opposed.

5:20

The public hearing is closed.

5:22

The resolution is adopted.

5:24

Item number two is a staff report SR26-190 presentation on Downtown Vitality Fund Economic Development Recommendations.

5:34

Well, I'm personally really excited about this milestone.

5:36

I know that there's been a lot of communication in the community as well, and a lot of hard work that has been on the back end of the downtown vitality fund.

5:44

Um so I'm just excited about the staff report that we have coming in.

5:48

This will be the recommendations of uh the allocation and also the feedback that has been given from the the application review process.

5:57

So wanted to be able to head it over to Deputy Director excuse me, Director McMahon, and then you can uh pass the pass the baton over.

6:05

Sure, Chair Commissioners.

6:06

I'm also very excited for this one and happy to welcome Nick Wolf from the economic development team here to present an update on the Downtown Vitality Fund as well as information on proposed action that will be before you at your next HRA meeting in two weeks.

6:19

So this is an effort that's had a pretty quick turnaround with a lot of behind the scenes work, and I appreciate everything the team has done to move it forward.

6:26

Um we know that vibrant town towns provide economic benefits citywide, investing in them helps all of our residents in our city, not just by providing a strong tax base, but also opportunities for residents to live and dynamic places to gather and engage.

6:39

So I'm very excited for this presentation, and thank you, Mr.

6:41

Wolf.

6:42

Thank you.

6:44

Good afternoon, commissioners.

6:46

My name is Nick Wolf.

6:47

I'm a project manager in the economic development division of PED.

6:52

And I will uh, as Director McMahon mentioned, I'll be presenting funding recommendations for the economic development portion of the downtown vitality fund.

7:04

Okay, so here's the program background, kind of a reminder of of how we got here.

7:13

Uh back in February, this body approved the downtown vitality fund.

7:18

There were two million dollars allocated for economic development projects, uh three million for housing.

7:26

And we are um funding recommended recommending funding projects that reflect uh the stated goals.

7:35

Filling vacant commercial storefronts, investing in businesses looking to grow in downtown St.

7:41

Paul, activating street level spaces, all uh adding vibrancy and investment in our downtown.

7:53

Okay, these uh economic development dollars are utilized for three large buckets.

8:00

Uh there's building capital improvements, equipment purchases, and public realm improvements.

8:07

Again, all with a focus on activating commercial spaces in our downtown.

8:13

As far as the uh breakdown of the projects and funding amounts go, uh under a hundred thousand dollars awards are structured as reimbursable grants, which is similar to our STAR program.

8:29

Uh over a hundred thousand dollars is structured as a forgivable loan, which I can get into a bit more later in the presentation.

8:38

And those over five hundred thousand dollars, also structured as a forgivable loan, uh, need HRA approval, which is why I'm here today.

8:52

Okay, so here's a list of the 10 projects that were approved administratively for uh economic development.

9:02

In addition, there's funding for the Alliance Bank Center Skyway.

9:08

So we received 60 interest forms yielding 35 eligible economic development projects and 15 applications were received, totaling over $4 million in asks.

9:26

Well, these uh recommendations that you see support downtown businesses at various sizes, ownership structures, and investment levels to maximize the funds impact and encompass the full two million.

9:48

Well, actually, let me one more point.

9:50

Note um all of these projects here are under 100,000, uh with the exception of Rom Mitt.

Discussion Breakdown — Share of Meeting
Downtown Revitalization█████████████████████████████████████████████82%
Affordable Housing████8%
Economic Development███6%
Procedural██4%
Summary of Proceedings

Saint Paul Housing & Redevelopment Authority Meeting – September 9, 2026

The Housing & Redevelopment Authority (HRA) Board met on Wednesday, September 9, 2026 at 2:00 PM in the City Hall Council Chambers. Commissioners present: Chair Johnson, Vice Chair Jost, Commissioners Noecker, Bowie, Coleman, and Yang (arrived late). Commissioner Kim was excused; Commissioner Vang absent. The meeting covered a public hearing on conduit bond amendments, a staff report on Downtown Vitality Fund economic development recommendations, and an introduction to the Hamm Building conduit bond issuance. Action was taken only on the first item.

Public Hearing & Resolution (Item 1)

  • Resolution RES PH 26-254 – Approved amendments to and reissuance of conduit multifamily housing revenue bonds for three projects (801 Mt Curve Blvd, 2265 Hillcrest Ave, 2285 Hillcrest Ave), known as Emma Norton/Restoring Waters and Nellie Francis Court Projects (Ward 3, District 15). Chair Johnson opened the public hearing; no one from the public testified. Commissioner Jost moved to close the hearing and adopt the resolution. The motion carried 6-0 (Commissioners Noecker, Yang, Bowie, Johnson, Jost, Coleman in favor; Commissioner Kim absent).

Downtown Vitality Fund Economic Development Recommendations (Item 2 – SR 26-190)

  • Presentation by Senior Project Manager Nick Wolff – Overview of the $2 million economic development portion of the Downtown Vitality Fund (total $5M including $3M for housing). 60 interest forms led to 35 eligible projects; 15 applications totaling over $4M in requests. Ten projects were approved administratively (under $500K), plus funding for the Alliance Bank Center Skyway. Two projects over $500K were presented for future HRA approval on September 23:
    • Endicott Arcade (134 Fifth St E) – $799,800 recommended to St. Paul Downtown Development Corporation for facade repairs and stabilization to restore a long-vacant commercial building.
    • 428 Minnesota Street (With Love Minnesota) – $682,200 recommended to renovate 11,000 sq ft of vacant ground-floor retail into a civic destination (cafe, event space).
  • Board Discussion – Commissioners expressed strong support, noting the program’s rapid deployment and focus on filling vacant spaces. Commissioner Noecker credited Downtown Development Corporation President Dave Higgins for suggesting the business funding component. Commissioner Yang asked about forgivable loan structure; Executive Director McMahon explained it is a four-year forgivable loan with annual forgiveness, avoiding long-term administrative burden. Commissioner Coleman highlighted the importance of investing in vacant stretches like Fifth Street to encourage downtown residential life.
  • Public/Invited Testimony – Several project representatives spoke:
    • With Love team (co-founders Damola Ogundipe, Emilia Ndely-Ogundipe, Director Thomas Toley) – Expressed excitement for activating the space, employing locals, and hosting events to draw residents and visitors.
    • Dave Higgins (St. Paul Downtown Development Corporation) – Thanked the Board for the program and noted the historic significance of the Arcade (designed by Cass Gilbert) and its potential for retail.
    • Joe Spencer (Downtown Alliance) – Called the Fifth Street corridor a key connection and praised the With Love project for filling a space vacant since Woolworths.
    • Jim Goldman (St. Paul Farmers Market) – Thanked the Board for a $20,000–$50,000 investment, noting their indoor market (former Black Dog space) had already spurred another 10,000 sq ft of leasing.
    • DJ (Eritrean restaurant owner, Erta Ale) – Expressed gratitude for support and described his restaurant as a destination for Ethiopian cuisine, jazz, and coffee ceremonies.
    • Bill Eddins (MetroNOME Brewery) – Thanked the Board for funding, explaining the brewery funds music education for kids and has struggled for 4.5 years.
  • Next Step – Formal approval of the two large projects will be brought to the HRA on September 23, 2026.

Hamm Building Conduit Bond Issuance (Item 3 – SR 26-191)

  • Presentation by Principal Project Manager Laura Haynssen – Introduction of a conduit bond request (up to $14 million) for the conversion of the historic Hamm Building (408 St. Peter St.) into 128 housing units, all affordable at 60% area median income (AMI). The building (built 1919) has ground-floor tenants (Park Square Theatre, Meritage Room Cafe) and vacant upper floors. Developer PAK Properties purchased the property in 2022. Total development cost ~$49 million, funded by tax-exempt bonds, 4% low-income housing tax credits, and historic tax credits. The bond issuance will require a public hearing and formal resolution at the September 23 HRA meeting.
  • Board Discussion – Commissioner Noecker praised the project for bringing affordable housing downtown and noted unique features (potential pickleball courts). Chair Johnson asked developer Rich Pakonen what drew him to the site; Pakonen cited the building’s iconic status and his 30-year career redeveloping St. Paul properties.
  • Rich Pakonen (PAK Properties) – Expressed gratitude to city staff and confirmed the project is moving forward after several years of work.

Key Outcomes

  • Vote Taken – Resolution RES PH 26-254 (conduit bond amendments for Emma Norton/Restoring Waters and Nellie Francis Court) passed 6-0.
  • No Action on Items 2 & 3 – Both will return for formal approval (including public hearing for Item 3) at the next HRA meeting on September 23, 2026.
  • Next Meeting Date – September 23, 2026 at 2:00 PM.

Meeting Transcript

Here. Coleman. Here. Just Kim. Yang. Chair Johnson? Here. Five present to absent. That being Commissioner Yang and Commissioner Kim. And Commissioner Kim is excused. Item number one is a public hearing. REST twenty six- two five four. Resolution approving amendments to and authorizing the reissuance of conduit multi multifamily housing revenue funds. Each person gets two minutes at a time. So at this time, I um will look to anyone who is here to give public comment. As everyone is rushing to the podium. No, I'm just kidding. Um we will take a motion from uh Vice Chair Jose to close the public hearing and approve. All those in favor. Aye. Aye. All opposed. Six in favor, zero opposed. The public hearing is closed. The resolution is adopted. Item number two is a staff report SR26-190 presentation on Downtown Vitality Fund Economic Development Recommendations. Well, I'm personally really excited about this milestone. I know that there's been a lot of communication in the community as well, and a lot of hard work that has been on the back end of the downtown vitality fund. Um so I'm just excited about the staff report that we have coming in. This will be the recommendations of uh the allocation and also the feedback that has been given from the the application review process. So wanted to be able to head it over to Deputy Director excuse me, Director McMahon, and then you can uh pass the pass the baton over. Sure, Chair Commissioners. I'm also very excited for this one and happy to welcome Nick Wolf from the economic development team here to present an update on the Downtown Vitality Fund as well as information on proposed action that will be before you at your next HRA meeting in two weeks. So this is an effort that's had a pretty quick turnaround with a lot of behind the scenes work, and I appreciate everything the team has done to move it forward. Um we know that vibrant town towns provide economic benefits citywide, investing in them helps all of our residents in our city, not just by providing a strong tax base, but also opportunities for residents to live and dynamic places to gather and engage. So I'm very excited for this presentation, and thank you, Mr. Wolf. Thank you. Good afternoon, commissioners. My name is Nick Wolf. I'm a project manager in the economic development division of PED. And I will uh, as Director McMahon mentioned, I'll be presenting funding recommendations for the economic development portion of the downtown vitality fund. Okay, so here's the program background, kind of a reminder of of how we got here. Uh back in February, this body approved the downtown vitality fund. There were two million dollars allocated for economic development projects, uh three million for housing. And we are um funding recommended recommending funding projects that reflect uh the stated goals. Filling vacant commercial storefronts, investing in businesses looking to grow in downtown St. Paul, activating street level spaces, all uh adding vibrancy and investment in our downtown. Okay, these uh economic development dollars are utilized for three large buckets. Uh there's building capital improvements, equipment purchases, and public realm improvements.

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