A corporation affiliated with the University of Minnesota has failed for a year to secure financing for its biotechnology “incubator” in the Midway, forcing St. Paul’s Housing and Redevelopment Authority to sink an additional $944,000 into the project.The City Council, acting as the redevelopment authority board, unanimously agreed Wednesday to tap the agency’s reserves to keep the incubator afloat, but only after two members expressed concerns about the deal.
