87-1356 WHITE �- CITV CLERK
'PINK - FINANCE COUIICII 2
CANARY -J�EPARTMENT GITY OF SAINT PAUL File NO. � - �`���
BL��E - MAVOR '
. 1
Co cil� Resolution
; �
Presented By - ` �
Referred To Committee: Date
Out of Committ e By Date
R SOLU ON RECITING A PROPOSAL FOR A FINANCING PROGRA
OR M LTI-FAMILY RENTAL HOUSING DEVELOPMENTS, GNING
PRELIMINARY APPROVAL TO THE PROGRAM
P RSUANT TO MINNESOTA STATUTES, CHAPTER 462C,
UTHO IZING THE HOUSING AND R.EDEVELOPMENT AUTHORITY
TO IS UE HOUSING REVENUE BONDS AND AUTHORIZING THE
UBMIS ION OF A FINANCING PROGRAM FOR APPROVAL TO THE
INNES TA HOUSING FINANCE AGENCY AND AUTHOftIZING THE
PREP ftATION OF NECESSARY DOCUMENTS AND MATERIALS
IN CONNECTION WITH THE PROGRAM
WHERE S,
(a) Minnes ta Statutes, Chapter 462C (the "Act") confers upon cities, or ousing
and rede elopm nt authorities or port authorities authorized by ordinance to e ercise
on behal of a c y the powers conferred by the Act, the power to issue revenu bonds
to finan e a pro ram for the purposes of planning, administering, making or pu chasing
loans wi h respe t to one or more multi-family housing developments within th boundaries
of the c' y;
Yeas C`'�n enLME Na s Requested by Department of:
T.I�I�I��r y
Drew In Favor
M,...� Rettman
Nicosia
Scheibel __ Against BY
Tedesco
W ilson
Form Approved by City Attorney
Adopted by Council: Date
Certified Passed by Counc'1 Secreta y BY �'
gy,
Approved by ;Navor. Date Approved by Mayor for Submission to Coun il
By BY
. � � _/�s-.�
(b) The Housing and Redevelopment
Auth rity of the City of Saint Paul ,
Minn sota (the "HRA") has been designated, by
ordi ance, to exercise, on behalf of the City
of S . Paul, Minnesota (the "City" ) the
powe s conferred by Minnesota Statutes,
Sect on 462C.01 to 462C.08;
(c) It is proposed that the City should
unde take a program as described in the
Noti e of Public Hearing attached hereto as
Exhi it A consisting of a program to finance
mult' -family rental housing developments (the
"De lopments") through the issuance of
rev nue bonds or obligations (in one or more
ser' es) (the "Bonds") pursuant to the Act;
(d) The City desires to: facilitate
the development of rental housing within the
com unity; encourage the development of
aff rdable housing opportunities for
res dents of the City; encourage the develop-
men of housing facilities, a portion of
whi h is designed for occupancy by persons of
low or moderate income; and encourage the
dev lopment of blighted and underutilized
lan and structures within the boundaries of
the City; and the Developments will assist
the City in achieving these objectives.
(e) Each of the Developments to be
fi nced by the Bonds will consist of the
ac isition, construction or renovation, and
eq ipping, of a multi-family rental housing
de elopment, and will result in the provision
of decent, safe and sanitary rentaT housing
op ortunities to persons wit}iin the
co munity;
(f) This City Council has been advised
th t conventional, commercial financing to
pa the capital costs of the Developments is
av ilable only on a limited basis and at such
hi h costs of borrowing that the economic
fe sibility of operating the Developments
wo ld be significantly reduced, but the City
Co ncil has been further advised that with
th aid of municipal financing, and resulting
lo borrowing costs, the Developments are
ec nomically more feasible;
. • �G � vr�
(g) A public hearing on the financing
prog am was held on September 30, 1986, after
noti e was published, all as required by
Minn sota Statutes, Section 462C.05, subd. 5 ,
at w ich public hearing all those appearing
at s id hearing who desired to speak were '
hear ;
(h) No public official of the City will
have either a direct or indirect financial
inte est in the Developments nor will any
publ'c official either directly or indirectly
ben fit financially from the Developments;
and
(i) It is proposed, subject to
Par graph 2 of this Resolution, that bonds to
fin nce the Developments should be issued by
the HRA and Minneapolis Community Development
Age cy or City of Minneapolis (collectively,
"Mi neapolis" ) , or, at the discretion of
Min eapolis and the HRA by the
Min eapolis/Saint Paul Housing Finance Board
(th "Board" ) , as part of an issue to finance
the Developments together with other multi-
fam ly rental housing developments located in
the City of Mineapolis.
NOW THEREFORE, BE IT RESOLVED by the City Council f
the Cit of S int Paul, Minnesota, as follows:
1. The City hereby gives preliminary approval to the
proposa that the City undertake the Developments, and the
program of fi ancing therefor, pursuant to Minnesota Statut s,
Chapter 462C, consisting of the acquisition, construction o
rehabil'tati , and equipping of multi-family� rental housin
facilit 'es w'thin the City pursuant to fi he specifications o
the own r of each Development and to a revenue agreement
between the RA or Board and each such owner on such terms nd
conditi ns w'th provisions for revision from time to time a
necess ry, s as to produce income and revenues sufficient o
pay, w en du , the principal and interest on the Bonds in a
total rinci al amount of approximately $10,000,000 to be
issued pursu nt to the Act to finance the acquisition and
constr ction or rehabilitation, and equipping, of the
Develo ments and said agreement may also provide for the
entire inter st of the owner therein to be mortgaged to the
purcha ers o the Bonds, a trustee for the holder(s) of the
. . . •. � . . �-' G- / s �L
Bonds or an en ity or agency which provides credit support fo
the Bond ; and the City, acting by and through the HRA, hereb
undertak s pre iminarily to issue its bonds in accordance wit
such ter s and conditions.
2, he Bonds are anticipated to be issued by the H A
and Minn apoli , jointly, or, at the discretion of the HRA and
Minneapo is, the Board, together with bonds (as part of t e
same iss e) is ued to finance other multi-family rental housing
developm nts cated in the City of Minneapolis. The financ 'ng
may be s ruct red so as to take advantage of whatever means re
availabl and are permitted by law to enhance the security f r,
or marke abil ' ty of, the Bonds; provided that any such
financin str cture must be approved by the HRA and
Minneapolis, r by the Board. In the alternative, the HRA m y
issue b nds a one, or to finance any one or more of the
Develop ents, if the HRA so determines.
3. On the basis of information available to the C ty
it appe rs, a d the City hereby finds, that the Developments
constit te mu ti-family housing developments within the mean ng
of subd'visio 5 of Section 462C.02 and Section 462C.05 of t e
Act; th t the Developments will be occupied, in part, by
persons of lo or moderate income; the availability of the
financi g und r the Act and the willingness of the City to
furnish such inancing will be a substantial inducement to t e
owners hereo to undertake the Developments, and that the
effect f the Developments, if undertaken, will be to encour ge
the pro ision of decent, safe and sanitary multi-family rent 1
housing oppor unities to residents of the City, to assist in
the red velop ent of blighted and marginal land and to promo e
more in ensiv development and use of land within the City.
4. The Developments, and the program to finance t e
Develop ents y the issuance of revenues bonds, is hereby gi en
prelimi ary a proval by the City subject to �he approval of the
financi g pro ram by the Minnesota Housing Finance Agency
(°MHFA" and ubject to final approval by the HRA, the owne s
of the evel ments and the purchasers of the Bonds as to
ultimat det ils of the financing of the Developments; and he
City fu ther approves the issuance of the Bonds as a joint
issue b the HRA and Minneapolis, or, at their discretion, s a
single issue of Bonds issued by the Board, to finance a joi t
program for he Developments and other multi-family rental
housing deve opments or for any one or more of the Developm nts
only.
. ' � - � .�� . , . � . /�s'�
5. Pursuant to Chapter 72, Saint Paul, Minnesota,
Adminis rati Code, the City hereby authorizes and directs he
Housing and R development Authority of the City of Saint Pa 1,
Minneso a (th "HRA" ) to issue the housing revenue bonds, al ne
or join ly wi h Minneapolis, or at their discretion by the
Board, o fin nce the Developments and to take all actions
necessa y or esirable in connection therewith, and no furth r
approva or a thorization of the City shall be required.
6. In accordance with subdivision 5 of Section
462C.05 Minn sota Statutes, the Executive Director of the H A
is here y aut orized and directed to submit the program for
financi g the Developments to MHFA, requesting MHFA approval ,
and oth r off cers and employees and agents of the City and RA
are her by au horized to provide MHFA with preliminary
informa ion a it may require.
7. Each owner of a Development shall be required o
agree a d it s hereby determined that any and all costs
incurre by t e City or HRA in connection with the financing of
the Dev lopme ts, or a pro rata share of such costs for a
financi g for each Development, whether or not the Developme ts
are car ied t completion and whether or not approved by MHF
will be paid y said owners.
8. Briggs and Morgan, Professional Association, a� d
Holmes Grav n, Chartered, acting as bond counsel, and such
investm nt ba kers as may be selected by the HRA and
Minneap lis, r the Board, are authorized to assist in the
prepara ion a d review of necessary documents relating to th
Develop nts nd the financing program therefor, to consult
with the City Attorney, owners of the Developments and
purchase s of the Bonds (or trustee for the purchasers of th
Bonds) a to he maturities, interest rates and other terms nd
provisio s of the Bonds and as to the covenants and other
provisio s of the necessary documents and submit such docume ts
to the H A an Minneapolis, or the Board, for final approval;
9. othing in this Resolution or the documents
prepared purs nt hereto shall authorize the expenditure of ny
municipa fun on the Developments other than as specified nd
authoriz d by eparate actions of the City Council or HRA Bo rd
and othe than the revenues derived from the Developments or
otherwis gran ed to the City or HRA for this purpose. The
Bonds sh 11 no consitute a charge, lien or encumbrance, leg 1
or equit ble, pon any property or funds of the City or HRA
except t e rev nue and proceeds pledged to the payment thereof,
nor shal the ity or HRA be subject to any liability thereon.
WHITE — CITV CLERK
cPIC1K � — FINANCE COUnCII
BL�IERV — MAVOR.MENT GITY OF SA-INT PAUL File NO. � - /�
�
� Council Resolution
Presented By
Referred To Committee: Date
Out of Committe By Date
The holde of the Bonds shall never have the right to compel any exercise of the
taxing po er of t e City or HR.A to pay the outstanding principal on the Bonds
or the int rest th reon, or to enforce payment hereon against any property of t e
City or H A. Th Bonds shall recite in substance that Bonds, including the inte est
thereon, re pay le solely from the revenue and proceeds pledged to the paym nt
thereof. he Bo s shall not constitute a debt of the City or HRA within the m aning
of any co stituti nal or statutory limitation.
10. antic' ation of the approval by MHFA and the issuance of the Bonds o
finance a or a p rtion of the Developments, and in order that completion of th
Develop ents wi 1 not be unduly delayed when approved, the Developers are he by
authorize to m e such expenditures and advances toward payment of that por ion
of the co ts of t Developments to be financed from the proceeds of the Bonds as
the owne s of th Developments consider necessary, including the use of interi ,
short-ter finan ing, subject to reimbursement from the proceeds of the Bonds if any,
when del' ered, ut otherwise without liability on the part of the City or the H A.
11. Each wner of a Development shall enter into a Memorandum of Un erstanding
with the RA w 'ch may provide that the HRA understands and agrees that the owner
may for a par ership or other entity, which new entity will be the owner of t e
related velop ent. The City Council hereby agrees that each such owner m
assign an transf r all its rights, duties and obligations hereunder and under the applicable
Memoran um of nderstanding to such new entity, and that the HRA shall agre to
such assi nment r transfer; provided that the HRA's agreement and that of the City
Council presse herein extends only to a new entity in whieh the applicable o ner
or its pri cipals e general partners or principals. Each owner shall agree in t
applicabl Memo andum of Understanding that it understands and agrees that t e
Memoran um of nderstanding shall be null and void from and after the date of transfer
or conve ance if the owner transfers or conveys the related Development, or th
owner's r ght to evelop the related Development, to an entity in which said ow er
or its pri cipals re not general partners or principals.
COUIVCILMEN Requested by Department of:
Yeas � Nays
Drew In Favor
yrrn� Rettman
Nicosia
scne�bet � __ A gai n s t BY
Tedesco
Wilson
Adopted by Council: ate J Form Approved by City Attorney
Certified Y _ Counci et BY �' •!�"""'°"�'�O
By
Approvq� ,:Na r e � � — � �� �� Y Mayor for Subm' ' n t Cqun il
B � - BY �
PU LISHED C T 1 1. 19�6
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AS IGN NUNBER FOR ROUT NG OR R Cl i Al l Lacations for ..Si nature :
�artment Directo � Director of Management/ yor
Finance and Manage ent S ' vices Director � � City Clerk a�'
Budget Director � , � �, —
� City Attorney � �
HAT WILL BE ACHIEYED Y TAK � G ACTION ON THE ATTACHED MATERIALS? (Purpose/
Rationale) :
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MA
�INANCING SOURCE AND UDGET CTIVITY NUMBER CHARGED OR CREDITED: (Mayor's signa-
ture not re- .
Total Amount of "Tr nsacti n: � /D� Uv� dU� quired if under
Fundin source: � �- ,Ld,�,y� �✓�,,�� b��o,000)
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, Activity Number: ,E� /�zJ'��` � 3�G•/�
ATTACHMENTS List and Numbe All Attachments :
l� C,- �j� c, � �s�l�-�i�..`._
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v���- 4 �a� cc.._ �L;�c`i, ��� /.� �u G'G' ,Gsa/t
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DEP M�NT REVIEW � CITY ATTORNEY REVTEW
� Yes� '� N Counci Resol tion Required? � Resolution Required? es No
Ye�,�: No Insura ce Req ired? Insurance Sufficient? es No
Yes':F No Insura ce Att ched:�/,�
( IE •REVERSE SIDE. FOR INSTRUCTIONS)
Revised 12/84 �
. � HOW TO USE THE GREEN SHEET � . - ,, .
The GREEN SHEET has several PURPOSES: � � � �
1. to assist in routing documents and in securing required signatures
2. to brief the reviewers of documents on the impacts of approval
, 3. to help ensure that necessary supporting materials are prepared, and, if
� required, attached. �
Providing complete informa'tion under the listed headings enables revi�wers to make �
decisions on the documents and eliminates follow-up contacts that may delay execution.
The COST/BENEFIT, BUDGETARY AND PERSONNEL IMPACTS heading provides space to explain
� the cost/benefit aspects of the decision. Costs and benefits related both to City
budget (General Fund and/or Special Funds) and to broader financial impacts (cost
to users, homeowners or other groups affected by the action) . The personnel impact
is a description of change or shift of Full-Time Squivalent (FTE) positions. �
If a CONTRACT amount is less than $10,000, the Mayor's signature is not required,
if the department director signs. A contract must always be first signed by the
outside agency before routing throuqh City offices. � �
Below is the preferred ROUTING for the five most frequent types of doc�naents:
CONTRACTS (assumes authorized budqet exists) �
� 1. Outside Agency 4. Mayor
- 2. Initiating Depart�ment 5. Finance Director '
3. City Attorney 6. Finance Accounting
ADMINISTRATIVE ORDER (Budget Revision) ADMZNISTRATIVE ORDERS (all others)
1. Activity M�nager 1. Initiatinq Department
2. Department Accountant 2. City Attorney
3. Department Director • , 3. Director of Management/Mayor
4. Budqet Director 4. City Clerk '
5. City Clerk
6. Chief Accountant, F&MS
COtJNCIL RESOT�UTION (Amend. Bdgts./Accept. Grants) COUNCIL RESOLUTION (all others)
1. Department Director l. Initiating Department
2. Budget Director 2. City Attorney
3. City Attorney 3. Director of Management/Mayor
4. Director of Management/Mayor 4. City Clerk
5. Chair, Finance, Mngmt. & Personnel Com. �5. City Council •
6. City Clerk
7. City Council
8. Chief Accountant, F'&MS
SUPPORTING MATERIALS. In the ATTACHMENTS section, identify all attachments. If the
Green Sheet is well done, no letter of transmittal need be included (unless signing
such a letter is one of the requested actions) .
Note: If an aqreement requires evidence of insurance/co-insurance, a Certificate of
Insurance should be one of the attachments at time of routing.
Note: Actions which require City Council Resolutions include: :�
1. Contractual relationship with another governmental unit.
2.. Collective bargaininq contracts. �
3. Purchase, sale or lease of'land.
4. Issuance of bonds by City.
5. Eminent domain.
6. Assumption of liability by City, or granting by City of indemnific�tion. :
7. Agreements with State or Federal Government under which they are providinq
, funding.
S. Budget amandments. .
. l- i�s'-�
. � ..�
;:0:
CITY OF SAINT PAUL
INTERDEPARTMENTAL MEMORANDUM
DATE: Sep ember 12, 1986
T0: Alb rt Olson
FROP1: She i Pemberton, PED �
SUBJECT: Cit Council Public Hearing for September 30, 1986
Attached i a cop of the Public Hearing which is being published in
the St. Pa 1 Lega Ledger and the St. Paul Pioneer Press and Dispatch
on Saturda , Sept mber 13, 1986.
Please pla e this Public Hearing on the City Council Agenda for Tuesday,
September 0, 198 . A City Council Resolution will be forwarded to you
by the Cit Attor ey's Office, prior to the City Council Meeting.
Thank you.
SAP:1 k
Attachment
cc: Sue S bbath
Nancy West
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NOTICE OF PUBLIC HEARING ON A PROGRAM
TO FINANCE MULTI-FAMILY RENTAL
HOUSING DEVELOPMENTS
To Whom It May Co cern:
NOTICE IS EREBY IVEN that the City Council of the City of St. Paul ,
Minnesota, will et in the City Council Chambers at the City Hall in t e City
of St. Pau , Minn sota at 10 o'clock, a.m. , on September 30, 1986 to co sider a
program to financ multi-family rental housing developments pursuant to the
City's Hou ing P1 n under Minn. Stat. , Chaper 462C (the "ACT"), by the ssuance
of revenue obliga ions.
The City o St. P ul has authorized, by ordinance, the Housing and Rede elopment
Authority f the ity of Saint Paul , Minnesota (the "HRA") to exercise he powers
conferred pon th City of Saint Paul , by the Act. The City of Minneap lis has
similarly uthori ed, by ordinance, the Minneapolis Comnunity Developme t Agency
(the "MCOA' ) to e ercise the powers conferred upon the City of Minneapo is by the
Act. In b th cas s, the agency so authorized may not undertake any par icular
program un ess di ected and authorized to do so by a resolution of the ppropriate
City Counc 1 .
Both the H A and he Saint Paul City Council and the MCDA and the Minne polis
City Council form lly approved a Joint Powers Agreement, dated December 1 , 1984,
creating t e Minn apolis/Saint Paul Housing Finance Board which is empo ered to
issue reve ue bon s or other obligations, on behalf of the HRA and the CDA,
when so de ignate by the appropriate agency.
The City C uncil ntends to authorize and direct the HRA to undertake, ointly
with the M DA, a rogram to finance multi-family rental developments lo ated within
the geogra hic bo ndaries of the two Cities. Each such development will be
specificall appr ved by the appropriate City Council , depending upon t e location
of such dev lopme t, prior to the issuance of any bonds or obligations o finance
the joint p ogram Such bonds or obligations may also, at the directio of the
HRA and the MOCA, be issued by the Minneapolis/Saint Paul Housing Finan Board.
Each multi- amily rental housing development will comply with one of th following
requirement : (1 Not less than 20% of the dwelling units will be occ ied by,
or held vac nt fo occupancy by, persons or families whose income is 50 or less
of the medi n inc , adjusted for family size, for the area in which th develop-
ment is loc ted a determined by the United States Oepartment of Housin and Urban
Development; or ( ) Not less than 40% of the dwelling units will be occ pied by,
or held vac nt fo occupancy by, persons or families whose income is 60� or less
of the medi n inc , adjusted for family size, for the area in which th develop-
ment is loc ted a determined by the United States Oepartment of Housing and Urban
Development Addi ional limitations on the income of persons or familie occupying
dwelling un'ts in he developments may be imposed by Minnesota law, depe ding upon
the locatio of e h development.
. _ . �_��`5�
Each of t e mult -family rental housing developments will be owned and operated
by a limi ed par nership, general partnership, corporation or other en ity, and
neither he Cit es, nor the MCOA or HRA, will own, operate or manage ny of the
devElopme ts. 0 signees of, or independent contractors for, the MCOA nd HRA
tiyill be r soonsi le for enforcing the requirements applicable to the d velop-
ments und r� Stat and Federal law.
The estima ed pr ncipal amount of bonds or other obligations to be iss ed to finance
the joint rogra will be $10,000,000. Said bonds or other obligation , as and
when issue , wil not constitute a charge, lien or encumbrance upon an property
of the Cit of M nneapolis, the City of Saint Paul , the MCDA or the HR , except
the develo ments and the revenues or other property specifically pledg to the
security o the nds or obligations. Such bonds or obligations will n t be a
charge aga'nst t general credit or taxing powers of either City or th HRA or
MCDA, but re pa ble solely from sums to be paid by the developers or thers pur-
suant to r venue greements.
Further in ormati n concerning the joint program, and the financing the efore,
may be obt ined om the Housing Division, Department of Planning & Eco omic Devel-
opment, Ci y Nall Annex-12th Floor, 25 W. Fourth Street, St. Paul , Minn sota
55]p2 (te ephone 292-1577) .
At the tim and p ace fixed for the public hearing, the City Council of the City
of St. Pau , Minn sota will give all persons who appear at the hearinq n oppor-
tunity to xpress their views with respect to the proposed joint progra for fi-
nancing mu ti-fam ly rental housing developments.
Dated this 12th day of September , 1986.
BY ORDER 0 TIlE C TY C�l!'lCIL �F THE CITY OF ST. PAUL,
MINNESOTA.
/s/ Alber Olso
City Clerk
� �-i 3s�
� ;,��;
CITY OF SAINT PAUL
INTERDEPARTMENTAL MEMORANDUM
DATE: S ptember 22, 1986
T0: A Olson
FROM: N ncy West���
RE: A �NOA ITEM FOR CITY COUNCIL'S SEPTEMBER 30, 1986 MEETIN
A1 , we h ve pub ished notice of a City Council public hearing on a pro osed
multi-fa ily ho sing development program on Tuesday, September 30.
Attached is a c py of the resolution which is still in the process of irculating
for sign tures. I apologize for not having this completed yet and wil make
every ef ort to get it to you before next Tuesday morning.
Thank you.
NW/gh
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1b Whom It!�[ay Ca�cern: . _ ' - - ��..,�T3 �t.._-�� ��
.NOTICE 13 HEREBY G tbat tbe C•Itp Coundl of the GYty oi Bt�.Pavl.
Minnesota,will meet in the ty Ghambers at tbe Cit1 Hal1!n tbe CYty o[
St. Pf�ul, Mianesota at 10 0 ock. a- . a'► 3eDte�mb�r�0. 19eQ to eo�der a
. to tinance multi- rea housia�_developa�ats yursuant to tlw •
�- _,_r�- - . _ ._. _ _ m> _ .
'City's o���_Plaa under S .. C�pta� l6ZC (the "AC'I"'1; by�'t%�duly sworn,on oath says that he' the publisher o!the
issuaace of rev�e obYi�a _ .
Tbe.4't�i.cd b't. Paul . autho ed. bq;ordiaance. the .Aousing and paul I.egal Ledger and has full k wledge oi the facts
Redevelop�mmt Authority oi City o Saint Paul.Mi:uiesota(the"HRA")to
exerciae t�e pawers conferred pon tIie ty of Saint Paul,by the Act.The City of
Minn�polis has similarlq au rized. oriinance,the Minneapolis Comanunity ::
, Developme�at Ageacy(the"M A")to ercise the powers conien�ed upon the ��plied with ail oi the requ' ments constituting
� City of Minaeapolis by the .In both ,the agency so suthorized may not
� undertake any particuiar pro directed and authorized to do so by a �wspaper, as provided by Minn a Statute 331A.02,
' resolution of the appropriate ty . _� - .: -
Hoth tbe IiRA aad the t P City Council and the MCDA and t3ie °"s,as amended.
� Minaeapolis City Council io q app a Joint Powers Agreement, dated -
DecPS4ber I,19&!,creatiag Hinaea lis/Saint Paul Housiag Finance Board , NOt�CA �
which is empoaered to issue ue ds or other obligations.on behalf o!the
� ;o��HRA and the IitCDA.whea ao �igni by the appropriate agenryi i the columns of said newspaper d was printed and
�ClZT Camcll'intends auth �and'di�^ect the�HRA to uaaertake. hed on Saturda� , the daq of
with the MCDA.'a pro to azuiti-lami�y rental developmenb,.
j located withia the geograp boim •.of t�e two Cities. Each such �d printed,below is a copq of the ower case alphabet
{ developm�t wllt"be y app bY the appmpriate City Council,- �yS herebq acknowledged as being the size and kind oi
' depeading.upoa�the locatioa.o such d pment.Prior to the issuaace oi any w
� bonds or obli�ations to iinanoe joiat Eratn.$nch bonds or obligatiass may:i publication of said notice:
also. at_ tbe direction of IiRA and t,he MD�A. be issued,by the
Minneapolis/Saiat Paul H Board. - , - _
�aFL+��l�, �a �DmlII�W�'l50�P�Y W��l OO�E Ot�!'�abcdett�iklimopqrstuvwxyz
followia�'`requi�emeats:.(1).'N •less� �096` oi the dwdiing naita 'will bt v
occupied by,ba�held vacaat for � bY.Persons or families whose incamne is '
50%or 2ess oithe mediaa .adi ior famlly aize.for the area ia which :'
the develop�oea!is loe:ated as� by the United States Depart�eat oi .
�Housiag aad Urban Developm •or(� ot teis tl�aa 40%of the dwelling units - �.
will be oawpied bY.or held t for paacy by.Persons orfam#lies whose _
income is 6096 or Iess oi the m e.adjuated for family size,for the area
in which the devdopm��.:is located. deteimiaea by the Uaited Statea
Departmeat c�Housing aad U Dev pmea�Additional limitations on the
income oi pasons or iaanilies P'Y�6 �11in6 unfts in t�e developmeats may ,
be imgosed b��[ianeaota law, upoa the location oi�ch developmeat_ '�e this 13.th_dap of 19_$.�
Each of tbe multi tamily developments;wiil be owaed�::and `
operated by a limited partn P. B� `Partnership. corporation�or'.o�the�r �
entitY. and neither the Cities, nor the CDA or HRA, wi1T oRra. oPere►te oz-'
manage aTM/oi the de�velop �Desi ee.s of,or independeat cantracEors for, _
the MCDA=and -HRA:svs'1�, ' bie for.enforcing�the, reqnirements
applicab�e to the dev�op�a ._ S and,Federal:laa¢.,,r-;.f •�-�': .�...-:' r •
Tlie T�estfmited p=iricipel ` - of ^ ch orother obligalt�oasto be iasued tm ; ' �
finaace theioint prag=am will i10,000 .3aid bonds o�otherobligat�o�s;as _ '�""�";'• C. !�, L
: !�t ' NOTAAY PUBItC MlNNf$pTA �
and whea i�ed, vvill.not tute a e, li� orencnmbrance upoa=sug �,;` ����WASHlNGTO COUNTY
P�Pa't3?�d'th�Q�g,of- lis. Cityr:of Saint,Pgul;:the.�dCDA or.the ; �,,- 1�Ay Commfasion Expi Mrr.�e,tM
$RA�lZC��!!deV@�O� aIId��k ES OI.O�}12T P�P�Y�;. .. ,
pledged to the'security oi f,he or ob Such boads or obligatians will ' -"-'""""�'�
not be a cbar�asainsE_the g credi or taxing powers of eit�ei Cfty or the ' ���� "��
HRA or ldCDA.but are PaYabl solely sums to be paid by the develope�.or ^�� �
�
othess�ussnaat to-ievenue ents. ,_._,- ti.:_ :> :y ;: ..;�r ..:.;� tcomme <
. � ` ,.
FurtBer"iaiormatfon , ._ . joint program. arid- the iinaticing�' � ��
thereior;,_=miiy be obtaiaed form e��I Divisioa.Departmeat of Plsnning as _ --------
--
Ecoaomic Dev�elopme�nt. City •Ana 12th Floor,25 W Fourth Street..St ` L--,��� / �
Pau1.Minnesota 5510'l(teleph �Z�15 `-� � �•' -< ..-,Y: .m�-
At tiie tiame and.piace$zed. r the pu lic hearlug,!he City Cou�il of the City iw fo � �v
i St.'�'� �ota�$1 ve:�all ons who appear at the hearing an
.--__:,__ .__ .___ —_
�rtiait,�r to with to the ProPosed joiut program for '_..
` -ta�na� r�ecEt-al d elopments. .
_. ,,, � _
Dated tbis 12t�: �I . : , , �-
BY ORDEIi � . ' .�O . OF THE�C1TY OF ST. PAUL. the � "G�( � �,
��NNESOTA. . .
/s/ALBEBT OIS�N.Ci� '� . � - �JJ � �
- � : r � 13.198� ` _ _ ': / " � S v�l C< �
. .. .�
.. . , - /
_..-�--- _ ._;:-----
_ �
_,.�,,,_.�._,_,_,..____-----_-. ___ _
�_.,.: .._ .
. ��.� ��'�
,
�,V✓a�/�!%t .I/y� Jd3's. 5
"'�i.3.,��'�,����`,` /��--J 1-f�
�4� �� ����,��'` ���,�' ,��_ ��'4�'��yv�`�►A�
1P�,o- ..� °.�a`' � 4�'Q,�'do � ''�' °"�4� b�' �o`/3,J�
�4 0 �s� .�` - •�o �'`°� �
Q��- �Q���� A�� � ���i
�� DUPLICATE
�� ' ���`" � ���'��� ��i�►��� VIT OF PUBLICATION .
� . o�.oc�6�'�,�d'Q � �, �.. AFFIDA
�s4��,50�,'�,�aa°��
��Q�o,� dt at,�
� e����. State of Minnesota
�`�y�r�'�� �b.Q� County of Raznsey
�o��`� ti.'��� � is Jr. bein dul swom,on oath says that he is he publisher of the
6�'"�Q�� Samuel E. Lew , , 8 Y
f newspaper knowa as the Saint Paul Legal Ledger and has full kn wledge oi the farts
which are stated below:
(A) The newspaper has complied with all of the require ents constituting
qualification as a qualified newspaper, as provided by Minneso a Statute 331A.02.
331A.07, and other applicable laws,as amended.
(B) The printed NOt3C@
which is attached was cut from the columns of said newspaper d was printed and
published once; it was published oa Saturda� , the day oi
$epteltibG� , lg8 6 ; and printed below is a copy of the wer case alphabet
from A to Z,both inclusive,which is hereby acknowledged as being he size aad kind of
type used in the composition and publication of said notice:
abcdefghi jk lmnopqistuvaxyz
G..
Subscribed and sworn to before me this��_day of 19�j}
' . ,�.::�:;., c. ra. �e s
:p� ,► .� Not�r aueuc— ��soT�
`r��WASHiNGTON COUNTY
' �: My Commission E� � �Mr.lA.�M
Rate Iniormation
(1) Lowest classified rate paid by commerciai
users for comparable space is
a .
(2) Maximum rate allowed by law for the
above publication is;
(3) Rate actually charged for the above
publication is 3
. � - /��r-�
... . - , --,o.,,,�,�� ...,�: . . . �.: ...
. ., �- ,�,
. . . • NOTICE OF PUBLIC HaA�N6 O�i l��Ot,�R�1#� ,,: . � + 1fi�
TO BINANC$1[ULTI F
HO�TS@iG D ° "�, __ •. .°�
. _, . - , ,:i�.
. , � '....'-.''�'..... , . , `�a ,, ; ` �a
�OII1 It�8j��.'OIIOC�: ,- , , r.
♦�,,� , .yi e ,r.:. -�i
��, . .��.. . Cr��!���L���
.������� l�.�
> � -
R
. _ _ -."1':1��.3��1t��° '�'�������'s
.. -V �., r!Y'i ss.!!rs��G:�_qr.. �:;*'.$:i.`.��a" �a 4e.�i'<eF��7f:� . �
The ty .of S�: Papl�`has. �outhori�ed::_bY-•aerdinarue. th�:I�si�- and
t Authority o�;the Caty ai;Saiat�?aal,Minnesots(tbe"I�RA�`)to
erci;e powers eonfen�ed-uP�.the+��tY�t ��'ut�'3'aul,b3�tbe:Pict.The Ei�y of
� has similarly aut�utxi�d..1�►;�,the Minnea�lis C,c�r►u�it�►
t�i�enay(the"MCD�A,'-'�t�esa�r�t#�Pa9vera conferx«1 upon#he
tq of ' polis by the Act.�.ce�>fi�e':a�%�sutborl�ed a�yt uot
, dertak `anY Particular program unless direct�d aad:.�tiw�'ized•t�aa c�a►�so��a.
lution f the appropriate C�,ty Conncil. : , , , Y . ,
$c.tt� HRl�and t�e Saint Paul Citq Gow�cil aad.t�e �$saad,�
po 'City Couacil foraially approved a Joint P�a►grs. �,.�,a,�
ber . 1984,creating the Minneapolis/Saint Psul Hous�t„�ard
hich is wei�ed to iasue revenue bonds or other obligationg.�n b�lf'ot the
RA 8il(1 �CIxA,W11E13 3O dL'A�AtC'f��►We`�1'OpT�Bt!!'$�EII�:Y' •"'.> F
Tlie° � Cou�cil i�t�ads'to�ahithorize snd �t the I��tA to, e.
j intly wi the MCiSA."�i�r�n`tt`3 finai�ce multa�8auly��} _deevefo _ �ts�
1 ted thin the geographic bound�i#ps o! �e=two= er' -L1`a�h suds
will be specificaliy appraved by the appropsiate Cit C��
t�3g locatiqa�of such de�relopm�,t,;FFior to t;�e ia��.oi a��
or ons�o#inance the jQix�F.,�nB,�'a�qa�. .liwnds4i obli�tiicp�:maY-.:
k
, at direction of th� HRA aiid the ,,;be issued, b�r`the
po /Ssint Paul Housing Finance Board. u`, ._ .�::
Eac'�i ulti-f 1�ental'housi�'°°d� ' ment'�vf11-com�►v►�t�i bise.of'th�
i llowing; uirel�a�ts: (1) Not lea�s'��;dt`�e�d�g a�fa'iNill bf '
b ,or held v�cant for occupat�y�b�'��ot iam�lie�w�ueee�is
%or oit�e�Y�fan iiicame.ad�ti3[ted �'aasil�site4�'ir�the sie�a��ieh .
t is Zticatea as deter�ied b�►t5ie Ut�te¢sta"tea�D�a�ai :.
�using d Urban Developm�t;or(�Nb�1�aT'��t�t.�e+�we�i��ts�� �
be ied by.or held vacant for occupancy by,per�ons or faaa�i�vi�ee, -
' me-is- orlais Qf t�e�an
�me��d.#gs:f�y size,.far t�e�ea;.,.
vvl�ch: dlvd4pm�en�,is<�ocaEes�- �s;d�t�rmi��bg t�e.•L7ni�Ad..S�ta�es ,.;
of Housing sad�UxbstcD�.re�nt.Rdd�a�:lzmits�i,�s!o�}�he .,
me of or lamilies oocu � �a tk�develp��►ents�, �
im b q Minnesota law,de p e n�u�e�tion o�eacfi��iPl o pirie�t: !
E�ch o ,the_multi-tamil�! rentale, develo ts.vyill be own'�`�nd
o ted b� a'liasited p�ttnei�hip. �5���Paii'ti�i� tor�oi�i�'_t os'_oti�er
tity, aa neither the Citi�, nor the MCDA or HR.A, will oia�i;t�te or
e of the developmeats. Designeea oi�or in�pene�ist coatsadan�s tor;.�
agd•H��-�e€11: be�:�es�iot�bls<,fC�r-Eniorc��tbee�leq�tre�nR�ts
a pli�e th��vetaptrte����8tate�aiid.Federal la�at..,.:;;.::.. : - ,.,_
Tl�e ted'pr�aci�al amount•oi b�NlB�+r�ther obli�a�#vus t,a be isaued�to •:;
i ce the oint program will be�10,000,000.Safd�SO�ds os ol�wbiisatiame;� +
d when ued, will not constitute a charge* lien or �t�y {
' Hperty.o the G�tb►of;D�inneapoli�, t,h�6�t�ot Saipt Pau1,..t�?,MCDA nr the
,ex t the developments_a�d t�;eveulies qr other p�r�terty s�i
p ged to e security:of the bqads.or ol�ii,�ati �tj�li<b�ds or"'obliga«��ns
n t be a e agairist the general ct�cdiY or t�g p6`vvers of_either Ci�y o��� � i
� H or M A,but are payable solely from sums to be paid by the develop�e��or ° +
o ess p t t�i+evenue agreements: � � ,
F�rth' iii�enrma�ion� concernfttg �he jo�t program, aae�,�he fixtaxt�g
, � �e obtained foim the Ht�sirig D�visirn4;��tm�#�!Piermi�#
nbi�i� � + iopme�t, City f�ia�l Annex-iZth FIoor, 25-�":�F6t�l�St�t.!3t:-�
P uI�'�� _ ota 35i42(tefephone 292-1597). ".. . > , .•; �,
� A�ttie t " e and place iixed for t�e publie hearing.the City CounciI of the Cify'`
, of St. Pa Minnesota will gfve all persons who appear at the heariag an
rtuni to express their views with resp�t to the pt�fpar�d'�ci�t�prsgsam fua� ;
f' ti-famfly reulaLhousing deeelopmenta.
Dated` 12th day'of 3eptember,1986. -
BY O EA OF THE C1TY COUNCII, OF THE Cl'PY QF"9'�`. PAUL.
_ i
✓s AI,B OL901T,City Cierk '
(September 13� I9�) . �
.