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90-1594 � • / Council File # _ U � /�` �� oRi �iNaL adoP � �-- � Green Sheet # q-D�f �� RESOLUTION ,, OF SAINT PAUL, MINNESOTA , Presented By i , ' ' Referred To Committee: Date WHEREAS, on September 23, 1987, the City Council of the City of Saint Paul approved guidelines for the implementation of the City of Saint Paul Urban Revitalization Action Program ("URAP") ; WHEREAS, on March 17,� 1988, by Resolution No. 88-387, the City of Saint Paul approved the financing of certain activities in connection with a URAP Project designated as the Rice Street URAP Project; WHEREAS, on September 6, 1988, by Resolution No. 88-1475, following a p blic hearing, the City Council approved the acquisition o certain properties north of Sycamore Street in connection wi h the Rice Street URAP Project; WHEREAS, pursuant to Resolution No. 88-846, the City Council approved an a endment to the Citywide Redevelopment Plan and approved a ta� increment financing district which included, among other things, the properties included in the Rice Street URAP Project Area; WHEREAS, in March of 1988, the City Council authorized the issuance of $ 00, 000 General Obligation Urban Renewal Bonds to finance activ ties for the Rice Street URAP Project; WHEREAS, in connection with the Rice Street URAP Project, on October 3, 19 8, pursuant to Resolution No. 3023 , the Port Authority of he City of Saint Paul (the "Authority") established an industrial development district known as the Rice Street Urban Revitalizatio District; Ye s Navs Abaent Requested by Department of: smon �� osw t on acca ee et man � u e � z son $y' � Adopted by Council: ate Form Approved by City torney Adoption Certified by Council Secretary gY; � i' BY� Approv by Mayor for Submission to Counc ' Approved by Mayor: ate By. gy� /�-� � ; �v - ,�-� � OR �CINAL WHEREAS, on October 3 , 1988, pursuant to Resolution No. 3022 , the Aut ority authorized the expenditure of $1, 440, 000 in connection wi h the Rice Street URAP Project, and to date the Authority has expended approximately $710,485 of its own funds on the Rice Stre t URAP Project; WHEREAS, to finance the remaining costs of the Rice Street . URAP Project, on June 26, 1990, and on July 24, 1990, the Port Authority of he City of Saint Paul adopted an Amended and Restated Reso ution authorizing the issuance of a revenue bond (the "Note") esignated as the $800, 000 Taxable Commercial Development R venue Note, Series 1990-2 (Rice Street Urban Revitalizatio Action Program Project) ; WHEREAS, it is anticipated that the Note will be paid from tax increment generated by, among other things, development in the Rice Stre t URAP Project Area; WHEREAS, Laws of Minnesota 1976, Chapter 234, as amended, provides that the issuance of any revenue bonds authorized by the Port Authorit of the City of Saint Paul shall be issued only with the cons nt of the City Council of the City of Saint Paul by resolution ad pted in accordance with law; WHEREAS, the Port Authority has requested the City Council to give its r quisite consent pursuant to said law and to facilitate th issuance of the Note by the Port Authority subject to final appr val of the details of said issue by the Port Authority; NOW, THE EFORE BE IT RESOLVED, by the Council of the City of Saint Paul, t at in accordance with Laws of Minnesota 1976, Chapter 234, s amended, the City Council hereby consents to the issuance of t e aforesaid Note for the purposes described herein, the exact det ils of which, including but not limited to, provisions re ating to maturities, interest rates, discount, redemption, a d for the issuance of additional revenue bonds or notes as are o be determined by the Port Authority, pursuant to a resolution dopted by the Port Authority; and the City Council � � • �ECEiv�Q �'�— /�9� DEPARTMENT/OFFICE/COUNCIL DATE INITIATED GREEN SHE�� �-'� 19� -iiii5 INITIAUDATE INITIAL/DATE CO P & �DEPARTMENT DIRECTOR C Vt�IL J u I i e A. K i mb l e/J ame Be I I us ASSI6N CITY ATTORNEY ��� c c��k��' MUST BE ON COUNCIL AGENDA BY(DATE) NUMBER FOR �BUDGET DIRECTOR FIN.8 MOT.SERVICES DIR. ROUTING AU9USt 2�, I 990 ORDEH MAYOR(OR ASSISTANI) ri0Ur1C f � Research TOTAL#OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE) ACTION REQUESTED: Approvai of th issuance of an $800,000 Taxable Note for the Rice Street URAP Project. RECOMMENDATIONS:Approve(A)or ReJect(R PERSONAL SERVICE CONTRACTS MUST ANSWER THE FOLLOWING QUESTIONS: _ PLANNING COMMISSION _ CIV SERVICE COMMISSION 1. Has this personffirm ever worked under e contract for this department? _CIB COMMITfEE _ YES NO 2. Has this person/firm ever been a city employee? _STAFF _ YES NO _DISTRICT COUR7 _ 3. Does this erson/firm p possess a skill not normally possessed by any current city employee9 SUPPORTS WHICH COUNCIL 08.lECTIVE? YES NO Explain all yes answers on ssparate sheet and attach to green sheet INITIATINQ PROBLEM,ISSUE,OPPORTUNI (Who,What,When,Where,Why): Proceeds of th Note will be used to complete project costs in tf�e Rice Street URAP area to allow new commercial development to occur in the joint . City of St. Paul/Port Authority proJect. ADVANTAGES IFAPPROVED: Funding of the ote will facilitate flnalizing the acquisltion and relocation of commercial tena ts and completion of site preparation w�ork. DISADVANTAOES IF APPROVED: ►vone RL��IV�D AUG3 Oi�O c�-ry CLERx DISADVANTAGES IF NOTAPPROVED: The Port Author ty's commitment to the praject was based on oDtaining financing for funding pro ect �osts. If a Note is not issued, funding will not be available. Councii Research Center_ AUG 231yyu ���� TOTAL AMOUNT OF TRANSACTION S 8OO�OOO COST/REVENUE BUDGETEp(CIRCLE ONE) YES NO Port Auth rity Note issue FUNDING SOURCE ACTIVITY NUMBER FiNANCIAL INFORMATION:(EXPLAIN) ( � a NOTE: COMPLETE DIRECTIONS ARE INCLUDED IN THE GREEN SHEET INSTRUCTIONAL MANUAL AVAILABLE IN THE PURCHASING OFFICE(PHONE NO.298-4225). ROUTING ORDER: , Below are correct routings for the five most frequent types of documents: CONTRACTS(assumes suthorized budget exists) COUNCIL RESOLUTION (Amend Budgets/Accept.Grants) 1. Outside Agency 1. Department Director 2. Department Director 2. City Attorney 3. City Attorney 3. Budget Director 4. Mayor(for contracts over$15,000) 4. Mayor/Assistant � 5. Human Rlghts(for contracts over$50,000) 5. Ciry Council 6. Finance and Management Services Director 6. Chief Accountant, Finance and Management Services 7. Finance Accounting ADMINISTRATIVE ORDERS(Budget Revision) COUNCIL RESOLUTION (all others,and Ordinances) 1. Activity Manager 1. Department Director 2. Department Accountant 2. Ciry Attorney 3. Department Director 3. Mayor Assistant 4. Budget Director 4. Ciry Council 5. City Clerk 6. Chief Accountant, Finance and Management Services ADMINISTRATIVE ORDERS(all others) 1. Department Director 2. City Attorney . . , • 3. Finance arud Mana�Amer�t ServicBS Director � ;-� ' _ ; ` =V ' ; ; ' � 4. City Clerk , _ . . �r'� . , , .. . �, � , , , TOTAL NUMBER OF SIGNATURE PAGES � � � � � � � ��� Indicate the#of pages on which signatures are required and paperclip or flag each of these pages. ACTION REQUESTED Describe what the projecUrequest seeks to accomplish in either chronologi- cal orcler or order of importance,whichever is most appropriate for the issue. Do not write complete sentences. Begin each item in your list with a verb. . , � i RECOMMENDATIONS �; � - � Complete if the issue in question has been presented before any body, public or private. SUPPORTS WHICH COUNCIL OBJECTIVE? Indicate which Council objective(s)your projecUrequest supports by listing the key word(s)(HOUSING, RECREATION, NEIGHBORHOODS, ECONOMIC DEVELOPMENT, BUDGET, SEWER SEPARATION). (SEE COMPLETE LIST IN INSTRUCTIONAL MANUAL.) PERSONAL SERVICE CONTRACTS: This information will be used to determine the citys liability for workers compensation claims,taxes and proper civil service hiring rules. INITIATING PROBLEM, ISSUE,OPPORTUNITY Explain the situation or conditions that created a need for your project or request ADVANTAGES IF APPROVED Indicate whether this is simply an annual budget procedure required by law/ charter or whether there are specific ways in which the Ciry of Saint Paul and its citizens will benefit from this projecUaction. DISADVANTAGES IF APPROVED What negative effects or major changes to existing or past processes might this projecUraquest produce if it;is passed(e.g.,traffic delays,noise, - , � � - � tax increases or assessments)?To Whom?When?For how long? , DISADVANTAGES IF NOT APPROVED What will be the negative consequences if the promised action is not approved? Inability to deliver service?Continued high traffic, noise, accident rate?Loss of revenue? FINANCIAL IMPACT Although you must tailor the information you provide here to the issue you are addressing, in generai you must answer two questions: How much is it going to cost?Who is going to pay? �. �� � �� NA � • � Council File �` O� S � Green Sheet ,� RESOLUTION CITY OF SAINT PAUL, MINNESOTA Presented By Referred To Committee: Date hereby authori es the issuance of any additional notes or bonds (including ref nding notes or bonds) by the Port Authority found by the Port Au hority to be necessary to carry out the purposes for which the foresaid Note is issued. Yea Navs Abaent Requested by Department of: irrron �•. oswi � � � acca ee � ettman � une B : s son Y �EP 6 1990 Forni Approved by City Attorney Adopted by Council: D te • � Adoption e tified by ouncil Secretary gy � _ BY� Approved by Mayor for Submission to Approved by Mayor: D te SEP 7 1990 Council . By. � By: PUBLISttEO S t P �, 51990.