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85-1383 WH17E - CITV CLERK PINK� - FIfS'ANCE GITY OF SAINT PAUL Council ` �y CANARV - DEPARTMENT �)` �/jJ�(// Bl_UE - MAVOR File �0. ✓ /✓ " � � - C cil Resolution Presented By C�- � Referred To Committee: Date Out of Committee By Date WHEREAS: 1. On October 10, 1985, the Port Authority of the City of Saint Paul adopted Resolution No. 2525 giving preliminary approval to the issuance of approximately $2,040,000 in completion bonds to finance the completion of the Mears Park East portion of the Galtier Plaza pro�ect in Lowertown. The bonds will be purchased by Chemical Bank of New York. 2. On October 10, 1985, the Port Authority of the City of Saint Paul adopted Resolution No. 2526 giving preliminary approval to the issuance of approximately $3,560,000 in completion bonds to finance the completion of the Mears Park Central portion of the Galtier Plaza pro�ect in Lowertown. The bonds will be purchased by Chemical Bank of New York. 3. On October 10, 1985, the Port Authority of the City of Saint Paul adopted Resolution No. 2527 giving preliminary approval to the issuance of approximately $3,465,000 in completion bonds to finance the completion of the Mears Park West portion of the Galtier Plaza pro�ect in Lowertown. The bonds will be purchased by Chemical Bank of New York. 4. On October 10, 1985, the Port Authority of the City of Saint Paul adopted Resolution No. 2528 giving preliminary approval to the issuance of approximately $3,000,000 in 876 revenue bonds to acquire the district heating and energy facilities for lease to the Galtier Plaza Energy Management Company. Miller & Schroeder Financial, Inc. will underwrite the bond issue. 5. Laws of Minnesota 1976, Chapter 234, provides that any issue of revenue bonds authorized by the Port Authority of the City of Saint Paul, shall be issued only with the consent of the City Council of the City of Saint Paul, by resolution adopted in accordance with law; 6. The Port Authority of the, City of Saint Paul has requested that the City Council give its requisite consent pursuant to said law to facilitate the issuance of said revenue bonds by the Port Authority of the City of Saint Paul, subject to final approval of the details of said issue by the Port Authority of the City of Saint COUNCILMEN Requested by Depar ent of: Yeas Nays Fletcher Drew IIl FBVO[ Masanz Nicosia scneibe� __ A gai n s t BY Tedeaco Wilson Form Appr ve by City Attorney Adopted by Council: Date r� Certified Passed by Council Secretary ' sy Approved by Ylavor: Date Appro by Mayor for Submi Council By �NHITE - CITV CLERK PINK - FIWANCE GITY OF SAINT PAUL Council CANARV - DEPARTMENT �{Q BLUE - MAVOR File NO. V��/�� Cou ' Resolution . Presented By � � � Referred To Committee: Date Out of Committee By Date Paul. RESOLVED, by the City Council of the City of Saint Paul, that in accordance with Laws of Minnesota 1976, Chapter 234, the City Council hereby consents to the issuance of the aforesaid completion bonds for the purposes described in the aforesaid Port Authority Resolutions 2525, 2526, 2527, and 2528, the exact details of which, including, but not limited to, provisions relating to maturities, interest rates, discount, redemption, and for the issuance of additional bonds are to be determined by the Port Authority, pursuant to resolution adopted by the Port Authority, and the City Council hereby authorizes the issuance of any additional bonds (including refunding bonds) by the Port Authority, found by the Port Authority to be necessary for carrying out the purposes for which the aforesaid bonds are issued. COUfVCILMEN Requested by Department of: Yeas S�'�'�sa ✓�Nays /� 1�, Ma anz Yu In Favor `� � - Nicosia schetbe� � __ Against BY Tedesco Wilson _ DCT � 0 1985 Form A��oved by City Attorney Adopted by Council: Date Certified Pa s ouncil S t BY gy, A►pproved by �Navor. l O — � p —��CT 1 O � 8�pproved by Mayor for Submission to Council � BY � �,� � -�i � n� By PLBlISH'�D OCT 1 9 1985 Por�t Authorit,� DEPARTMENT �� ]v� 2231 . �. A. Kraut ' 1 CONTACT . 224-5686 PHONE �3-27-85 I DATE 1 e�� e� N NUMBER FOR ROUTING ORDER Cli All Locations for Si nature : � �✓r/.3�3 Department Director , 3 Director of Management/Mayor Finance and Management Services Director � City Clerk Budget Director Galtier Plaza Completion Bond Issues 2 City Attorney ' and Galtier Plaza Ener Mana ement Company Bon ssue WHAT WILL BE ACHIEVED BY TAKING ACTION ON THE ATTACHED MATERIALS? (Purpose/ Rationale) : The purpose of the bond issues is to secure the financing from Chemical Bank and to complete the Galtier Plaza project and all its� component parts. The project is scheduled to open November 7. The total amount of the completio'n bond issues is $9,065,000. The purpose of the $3,000,000 in 876 revenue bonds is to finance �he acquisition of the district heating and energy facilities for lease to the Galtier Plaza Energy� Management Company. The pro forma indicates this element of the complex will be a viable profit center and the additional funds are essential to accomplish the total refinancing package. The Port Authority will not have a cross default provision over the other debtors i .e. , Chemical'� Bank, Lowertown Redevelopment Corp. , or UDAG. The partnership COST/BENEFIT, BUDGE�ARY AND PERSON�IEL IMPACTS ANTICIPATED: will fund the debt service reserve estimated at $300,000 with a letter of credit. N/A FINANCING SOURCE AND BUDGET ACTIVITY NUMBER CHARGED OR CREDITED: (Mayor's signa- ture not re- Total Amount of Transaction: ' quired if under $10,00Q) Funding Source: Activity Number: ATTACHMENTS (List and Number All Attachments) : 1 . Staff Memorandum 2. Draft City Council Resolutian cc: Richard Thorpe DEPARTMENT REVIEW CITY ATTORNEY REVIEW Yes No Council Resolution Required? Resolution Required? Yes No Yes No Insurance Required? ' Insurance Sufficient? Yes No Yes No Insurance Attached: (SEE REV�RSE SIDE FOR INSTRUCTIONS) Revised 12/84 . �p � R T . �-��i3�'3 � i�► UTHORITY � OF THE CITY OF ST. PAUL , Memorandum TO: Board of Commissioners p,,�; September 25, 1985 Special Meeting October 10, 1985 �. ; FROM: E. A _ b��'�t SUBJECT: PUBLIC HEARING - SALE OF C�MPLETION BONDS - OCTOBER 10 RESOLUTZON N0. 2525 - MEARS PARK EAST - SERIES A-(1) $ 2,040,000 RESOLUTION 1`10. 2526 - MEARS PARK CENTRAL - SERIES B-(1) 3,56Q,000 RESOLUTiON N0. 2527 - MEARS PARK WEST - SERIES C-(1) 3,465,000 $9,065,000 PUBLIC HE9RING - SALE OF BONDS - OCTOBER 10 GALTIER PLAZA ENERGY MANAGEMENT COMPANY FINANCING - $3,000,000 876 REVENUE BONDS RESOLUTION N0. 2528 SALE OF REFUNDING BONDS - OCTOBER 24 MEARS PARK EAST - SERIES A-2 - RESOLUTION N0. 2529 $ 7,°60,000 MEARS PARK CENTRAL - SERIES B-2 - RESOLUTION N0. 2530 6,440,000 MEARS PARK WEST - SERIES C-2 - RESOLUTION N0. 2531 6,535,000 $20,935,000 CANCELLING ARBITRAGE LOAN - RESOLUTION N0. 2532 TAX INCREMENT FUNDING - R.ESOLUTION N0. 2533 CONDOMtNIUM WRITE-DOWN FUND PUBLIC HEARING - SALE OF COMPLETIOT? BOPtlDS - OCTOBER 10 MEARS PARK EAST, CENTRAL AND WEST RESOLUTIONS 2525, 2526 APJD 2527 The Port Authority currently holds the First P4ortgage on Mears Park East, West and Central projects in the aggregate amount of $20,935,000 in 876 revenue honds. The Galtier Plaza project financed in 1982 and constructed on a fast track plan requires additional financing to complete the project which is scheduled to open on November 7. The anounts needed f or completion are indicated above and ic�entified as completion bonds Series A-(1) , B-(1), and C-(1). . - . . . . � � ��=i��3 Board of Commissioners September 25, 1985 Page -2- All contracts are now in hand and all costs identified. The principal refinancing has been structured through Chemical Bank of New York who, as indicated on the attached closing schedule (Exhibit A) and on the September 20, 1985 pro forma (Exhibits B and C) will acquire $30,000,000 in bonds to provide the funds to refund the 876 bonds and to provide additional completion funds in the amount of $9,065,000. Staff has actively participated in the months long negotiations to resolve the construction cost overruns and has worked closely with Chemical Bank and represented the City of St. Paul, the Port Authority and Lowertown Redevelopment Corporation in these discussions. The Bank has committed to finance the project and will assume the First Mortgage position based upon a lower floater loan at 53% of prime. As the pro forma indicates, this substantially improves the cash flow for the initial 10-year period. Also, as indicated on the Source and Use of Funds (Exhibit D) Chemical Bank will be involved in $114,490,000 of the overall financing for Galtier Plaza which includes the Jackson/Sibley rental towers and the condominium towers as well as the McColl building and Mears Park East, West and Central. To accomplish this and to meet the conditions of the Port Authority and Ch.emical Bank, the partners have had to very substantially increase their equity participation. The issuance of the completion bonds and the refunding bonds are absolutely essential to secure the financing from Chemical Bank and to complete the project and all its component parts. Staff recommends approval of Resolutions 2525, 2526 and 2527. PUBLIC HEARIPIG - SALE OF BONDS - GALTIER PLAZA ENERGY MANAGEMENT COMPANY RESOLUTION N0. 2528 As part of the restructuring it is recommended that the Port Authority, through the issuance of $3,000,000 in 876 revenue bonds, acquire the district heating and energy facilities for lease to the Galtier Plaza Energy Managernent Company. The attached pro forma (Exhibit F.) indicates that this element of the complex will be a viable profit center in and of itself, and the additional funds are essential to accomplish the total refinancing package. As is customary in district heating financing, the Port Authority will not have a cross default provision over the other debtors, i.e. , Chemical Bank, Lowertown Redevelopment Corporation, or UDAG (City of st. Paul). The partnership will fund the debt service reserve estimated at $300,000 with a letter of credit. Miller & Schroeder Financial has agreed to underwrite the bond issue. The average coupon rate is and the net effective interest rate is Staff recommends approval of the sale of the Galtier Plaza Energy Management Company bonds by adoption of Resolution r1o. 2528• . ��"��3 . �oard of Commissioners September 25, 1985 Page -3- SALE OF REFUNDING BONDS - OCTOBER 24 MEARS PARK EAST, CENTRAL AND WEST, SERIES A-2, B-2 and C-2 RESOLUTIONS N0. 2528, 2529, AND 2530 In order to refund $20,935,000 in outstanding bonds sold at a rate of approximately 14%, it is necessary to deposit approximately $28,075,Q00. The difference of $7, 140,000 will be deposited in cash by the partnership at the time of closing. 'I'he partnership is also required to assign the investor notes from the project syndication to the Chemical Bank to assure that sufficient operating funds are available through the shortfall period. These are illustrated on the Source and Use of Funds (Exhibit D) as $6,000,000 in investor notes. In addition to that, the partnership will be required to liquify a substantial portion of the 195,000 shares of Holiday Inns of America stock to close this transaction. Other sources of funds are syndication of the Jackson/Sibley project and miscellaneous sources. It is necessary to space the refunding sale two weeks after the sale of the completion and Galtier Plaza Energy Management Company bonds. Therefore, in addition to a Special meeting on October 10 there will be a Special meeting on October 24, both at 9:00 a.m. to accomplish the total refinancing. Staff recommends approval of Resolutions 2528, 2529 dnd 2530. CANCELLING ARBITRAGE LOAN RESOLUTION N0. 2531 Shortly after the original financing occurred and to enable the partnership to utilize the arbitrage from the investment of the proceeds of the bonds, the partnership by agreement transferred to the Port Authority all arbitrage earnings. At the same tim.e the Port Authority in turn loaned back to the partnership all of the arbitrage earnings with those earnings to be repaid at the end of 30 years based upon principal plus 14%. In all Port Authority revenue bond projects the arbitrage earn.ings inure to the benefit of the project. Therefore, in essence, we were loaning back f unds which were partnership funds. It is recommended that this arbitrage loan be cancelled since it is a condition of the Chemical Bank financing and was in essence not Port Authority funds to begin with. Staff recommends approval of Resolution No. 2531. , � . , � � � �-��,�� Board of Commissioners September 25, 1985 Page -4- TAX INCREMENT FUNDING RESOLUTION N0. 41hen the City authorized a tax increment funding in the amount of $4,400,000, the conditions of that were that the payments would be as follows : August 23, 1982 $435,000 February 23, 1983 435,000 August 23, 1983 435,000 February 23, 1984 435,000 August 23, 1984 435,000 February 23, 1985 435,000 August 23, 1985 452,500 February 23, 1986 452,500 August 23, 1986 455,000 February 23, 1987 455,000 $4,425,000 The agreement with the City provided that those funds flow directly to the Port Authority for application to debt. Here again this money was by City action granted to the project. The partnership requested that this money be repaid over a 30-year period at interest of 14%. Again for the same reasons that the arbitrage earnings were restructured to a long term loan. It is recommended that this agreement be amended to provide for full repayment of the $4,400,000 in year 1997 and the interest be waived. In botl�. of the above cases no Port Authority f unds are involved, only partnership funds, and the amount of the tax increment funding will provide for a repayment at a nuch earlier date. CONDOMINIUM WRITE-DOWN FUND In 1984 the City and the Port Authority contributed $1,000,000 each to an interest write-down fund for the condominium pro�ect. This agreement will not change but will remain in place under these recommendations. GENER.AL The refunding honds do not require a public hearing. The completion bonds and the Galtier Plaza Energy Management Company bonds require public hearings and also ratification by the City Council. . ' . . . ��,�/.��3 Board of Commissioners ' September 25, 1985 Page 5— The Port Authority will continue to receive its fiscal and administrative fees; however, they will be based on $33,000,000 in outstanding bonds rather than $20,935,000. The issuance of the additional bonds and the refunding bonds are the result of the project being considerably larger and more complex than the original financing. Added to it subsequent to the initial financing was the McColl building which needed to be merged into the atrium complex and increases in cost of construction because the project is nearly a year late. It is St. Paul's largest project and the actions recommended here assure its completion and provide adequate security through Chemical Bank financing and reserves to cover the initial start up and operating deficits. EAK:jmo Attach. . �� . . . . ��=�3�3 � ; CFEMICALBANK EXHIBIT A - e�rmro��.�w Oebra Glse Jennin9s N�w Yqk.NY ?0017 Aealetant Vlq P�ssld�nt T�C(2�21 87&7Si8 September 13, 1985 Mears Park Development Company c/o Robert J. Boisclair 16500 Gray Bay Blvd. Wayzata, I�4V 55391 and Mr. Patrick M. Ruhr Omni Venture, Ltd. Westview Business Center Suite 125 620 Mendelssohn Avenue Golden Valley, ?�T 55247 R.E: Items to be Accomplished to Meet Galtier Closing Dear Bob and Mike: Based upon our conversation of September 12th, there are numerous items which must be accomplished prior to a satisfactory closing and reconilement of the Galtier Financing. Firstly, the closings should occur in the following sequence: Approaimate Financing Date Mears Park Development Co. 9 25 East, Central, West-Completion Bonds 10/9 East, Central, West-Energy Center 10/23 East, Central, Wes�Refunding 10/23 . All of these dates are sub�ect to obtaining the necessary approvals and reasonable time frames for the immense amount of legal work. A potential one week delay should be allowed for each date. Ia order to achieve these dates, the activities to be accomplished by the priacipals include, but are not limited to the following: . -� . , . � � ��.��'� Mears Park Development Co. September 13, 1985 Page Two Date � Estension of FHA Commitment for Insurance upon completion for Jackson and Sibley 9/20 Chemical Bank Credit Committee Approvals for all Galtier Financings , 9/20 Final Commitment Letter for Spadication of Jackson and Sibley pro�ects f rom Miller and Shroeder 9/25 Commitment for $6,000,000 financing of East, West Central Partnerships' investor notes 10/2 Commitment for $2,800,000 financing for Energy Center 10/2 Approval from East, �lest, Central Limited Partners for: 1) Release of energy assets; 2) interest guarantee agreement; 3) pledging notes as security for loans; 4) overal refinancing 10/2 Determination of ineans to liquify Holiday Inn Stock for bond defeasement u�6 Galtier Plaza Grand Opening 11/7 These activities must be accamplished espeditiously in order to achieve the goal(s) which are in every parties best interests. All parties should confer first thing each Fridaq moraing to give updates on the status of their particular responsibilities. 600d Luck: B t regards, Debra . e ng s cc: Meredith Lincoln Curtis D. Forslund Richard Lincoln Michael W. Conlan Robert H. Shadur, Esq. James B. Druck, Esq. � Eugene A. Kraut � � �� m � � �� m t�� x � xl w / �n oa � O �F I N� M M rt .�+ 1 l 1� Ni N � P r+ CV 1� I �t N 1 N �O 1� m C �O 1 ? O� m {!9 {A ! O N � �+ O� 1 T p� N O m � 1� 1� -0 O 1� If7 M L'V 1 O {t7 1 Y'] � �--� m O CV � 1� d' � N M 1 m N ai� • .r .F ri N'i t� NY i� r�7 N .0 M1 1 aa v If7 W O LT i O �. � M m 1 C'� � b � I N � ^ � N u7 N � N .O N I I� H 1 M N N M O C i 4' 1� O Q� I�i � I�+ 41 01 1 M) .a v Q� Y'I .�+ �-. I N �+ 1 O �O Q �'� 1� 1 O M O V9 � i O > O� .G y'] � 4'� 1 � �F 1 O N IA 1 � O � r+ 1 "� � � ^ I I � 1 � i N w 1 Ij� 1 47 1 � Y7 � 0 1 1 I I •r +� � a.e � � � � (� O� M I t•7 M � 1� � �h 4 if7 � �+ O� N O� 1 m G 1 m � -0 1� L? �+ 1 Q T m P� It7 1 d N':� O� 1 ? 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N � � � t I � � � r�� Cn 4+ N �J I a � � I � � i � r Nd O � � �� Cn N L�1 N C'� I C�1 N Gw� N � .O I � i > i W N � I � � �.- P P +• G-` Cn O O- � � O N m � � m u � +� C� G L� � i.+ ? O N � �C � � i � � I c.� W � � .� 6i � C rJ l"' •� � O Ln � � � G N 6J� m .O � L•, C� � O (N �• a C ti m N V • I i 1 - �: .0 � C�� C G Ln La O C � .O +� i �.: — G• � G ? a ? C P m m �O .D i ..O ,,,.. � �i C� v G Ln G �n � t^ � O C { c,r + G ; + a � P v O -0 O C �O O` N C P � � � � O � i � � � i � fD � c.. i a i � i '� 'C i � � ' � � � � � a � •� tJ� w ►d-LT 1 a � A1 1 w ? I N + rd W d i G O N C� N C� N a 1 C� Gn� c.r ? O� m I C� +• 1 Q� �► .O N� P .O � � � a � c++ C P a m G.� G �� i -0 C a G O �+ � L� N ; �O L1� C m N �+ a t/ N � N � ` r ! •• ' � � y m � C. I L7� �".� m O �l � 1 N W 1 O' = �1 � �I m T A1 • 6N • 1 � 1 1 v+ C Q C .O -0 i 1 C� C � C� O .O I C � 1 -O O V O .O C^ G.+ m m W V �O � 1 .O � ± C i L� � C, V1 C G.r ^ O � ^• G C � m O � � � � c.i v S P a v� .r .O fJ+ �+ O G!� � � � •� � � � I 1 � � I 1 i , i I 1 � � w � � � + i � N O i � � ,� .� � .� s �• � LJ� 41 • N +d � i V1 t w-0 I W LT. :.J .► � . �. � O O N Ln N Ln r�� i.r � ?• � V+ '� �+ a � V N i a VI .O �N m O � ;�, i w m T � m Cn L^ � cJ C � — w P i NI � i SJ� o- .•� •� N O G V: a T t�J� i r y � i .. � � �ID =` j � G ? N C.7� P i N m i m G.i 4+ C �+ N� �C � • = . . 1 .O � n ; C N ..�. � � � �r m G O � � t N O N LC P � P m � V 4+ � 7` O f.-+ O G� CC '�O `� � � . Ln �� 1 Gl1 �O C 6.n C` G�7 ..� ..p I + C V W Ll1 V I m'LA 1 V ►� fa V �. fJ� CI {/+ O ? � �1 �� 1 Ai m � �. � � � 1 I � i � iw i � � NI i � N � � ` � ` � � C7 G ..� + .� � Ln Lr N -0 t C� V I iJ t J. ^ C� .� � 0 C. � � O �..1 V� �.S Ln N G' 1 C` W � N m t� 1 �D � 1 N Lr �.O 1` �.0 N � 1 K ,p u O P � m G.R C i P G O a � •.• i N rr � A O� N + N m T �' `T T T � r � � � � .p i O G I O- u G �+ C� i.� N • + � '0 � � � i C N C � m ^'7 1+ 1 � O O` -0 r f. S' ' O .�C �O P I O b+ G C.11 Jr I m N I �.� 1...' N W G' ul �G V li� i LJ� �"� �D �O i �O O C G � N� -0 C Ln C Cn .� i ; — O �+ T O s � O m i � N .D � i Ln � a a v � .� � � � 4+ �O Z i � l"h � � 1 N �• �. i � , I GJ� I �.A � � � i � � � � t O i � � LJi G� N 1 V1 N C'� i = � 1 y CJ� T + '� I �w � � J+ N C�� N LJ'1 ^ C^ I �+ [J � P C 1 N I � V1 .O ► D` c/ . ` f �0 L�� .O O- i m GJ� i � C C c�.i N r�.i W i GM v 1 N ? N �1 N Cn N G N I O� ! � �� :. ! � :� � � .. ! � � ! r. r.l T � ^ t� r� b.,' � � C�� .� � L - � � � G ti T . f.J C4 V L.: �.J W tN ./�- � 1 -0 I ` � c.: !�: C G �� .0 .O � i N O CS+ + CJ7 i LJ� O i N.i.-+ br r+ G O� +..� •..� •� m O N � .O � -0 .0 C� iJ� L.77 G Ln C• 6J7 � �.D � � C• m �.r P iV � N + I �+ N .— � a N v � W'•� + V.' ,W�' ^ I a G N i � � I � I � (7l � Im x x � °C� co v\ � I n \ � Ca1 Y• . . . .. � • EXHIBIT D �d'.5��/3�� . ;7diG121' �:323 SO�A'CSS S u5E5 Qt F�1CtQ5 EdSt f�lSt- O!i@iSlflCE J1Ck50ri Totil C�ntr�1 Acccunc �1cc:a11 Sicity CandoWini��s lnai:�:cat°-� __..__._. - __.. --- -------" �JsZ u4 Funds : . i.��ical 9udyat ,y: 3/t0/9` 114,w39,'300- �g,��,389: �,84;?.�+Da� �7,ot�:i,S� �i,':�,��'d Oeie�arsca •�aount T,14�i,+DOd T.14�.'�` ;�i8 3t. Paul =oan 10�,sb06 i439,�� — - ----- _______-- ---- —___—_ 1�,;��,990 �9,9�t 3�D T,1++D,�a+�D 5,94�,�+� . 's7,53s','�"a+D 2I,'32,�0t1 a TOtll 1�385 �____� ��r- �_--_--= a�__. � .OLLi't°5 Ot �+1P'.�5: 3onds b0,c`4,3� 's�,'a+D+D,3d0 :,:�D,'3+a� ?`,1��,3'3+� C�rneniiuttal l.�ar+s 1b,�9a.'fiad l b,��30,'J�Od lIDA6 �+�+'� �+3�+� �.4C ��,'�9.d�� ,'dN+�,`d+d8. - �ort (Ar�i�raqr! �.I�.�'+J�� 5�'�,�J�fi iI� �.329}�b� 4t:.?'3,� sssrqy Cmt2r 3on�s 2,t3�;a08° ��•t�,�` �ai'ry Sovress �,.��9,�+D9 _ 1�D5,'� shares i�lIr"► (.�%) �,�,� g�. ::.�,�'D+D - ;�,38+1 s�tar4s nIA (:'8�1 �,2i�,'� �,'�, - EI'a/C i?83 �7ayreenc 1,18g.�. i00:'D�D+d '+�DO,J�D+a . 4 fifid a8'� �,3t�D,'c'+�'d - J'�i/C Vot+� (�'aX) 6�`�'� t r - �acicsan i Si�2ay 1?85 ;saYmer.i 1,'J�,'� 1,�,'8�D 5,::.-9� l�d 2,�r�a.:0b - Jackson / �i�ley N�oias (7'�) 9,ld�.'�bd �,�l - �1L I?35 �aymen= �� . � i, i��a.�a�a • �+kw l i uaias t�e�U 1,�,�` egg,� — �'1!t"9Y GlftB!" Sy1't�1C3tl�tt ;7�5� �,'� - E�uit�j Loan 2,ti5,`� �,li5tJ8a- _._ �-- — ----- ka;t�,�a :�,��a�e �,2�ae,�� s.1+2f 3a0' 3 i t 53i,?0�D �l,��''�D �t'E i 3,:aa tot�l Sourc2s �, _� �_ _...__—_ — �-.� � 3 3�,�:ge a�3 �e+a �a,aee :;a�a,�ae a a �,a�a,:a+a Sw"!alus (�ur±sally * ' ' - —r rro�.�r� 3�� .-��a :L:�c:�ir :vr:ar3c:ass :�--�- _ ,.. - . ��s��'3 � � � EXH IB IT E , � ` l ' U�+Lltth t'LN:ii CNER6'f MANH6EMENT Ct'�C�ri;Ml � 5 YEAn ChSH FLDw � i1ER 1 1985 t4&6 1467 l?88 1r89 REVENUES : ----- ----- ----- ----- ----- Energy and Energy lla�age�ent Sibley To�er Rental 11,241 134,84b 141,641 138,123 150,159 Jacfcsan ToMer Renta: 99,OSi 113,465 1t4,138 1�5,095 Jackson ToNer Condoainius 53,271 95,881 Iti0,b8t t05,115 Parkside Conda�iniva IG,599 19,017 i8,0:i1 21,03� Pavi:lion 9,050 10,�0? 10,885 lt,4?? Office 11,9�7 143,249 1;4,411 157,432 l65,829 ' Retail 35,747 21�,486 125,?G� 236,464 248,281 McColl Oifice & Retaii 3,535 21,2�)8 22,256 23,3&2 2�,�51 6�e5t Suites 317 3,807 3,9?i 4,191 4,407 Suh-tota! b2,177 b8?,6lb 78Z,31d 821,434 862,506 ' Se.t��rity �oot�oi & �onit�rinQ 13# Contact Points 24,Sb7 :8,140 24,547 31,J24 Servic�s Soid . ` 57�1 Enerry ya:►age9enE Points ? 1�0 �b,4U0 98,440 103,415 l08,5$5 :i�4 .e.urity Cen'trol & noniter:ng Points ? i0� 33,��}0 b4,300 12,1b5 75,443 � "suk�-iatal 0 104,4b7 145,930 205,721 21b,013 �aTAL RE4ENtiES 62,177 144,083 978,248 1,027,151 1,018,519 i EXPE?ISES : � Enetgy frar OHpC 20,b42 2b0,b01 321,040 337,642 35.i,44b iiaier ar.� �eMer 83:i 5t0�0 5,250 5,513 5,188 ' E?ectricity 11,993 11,404 15,�95 74,270 A3,233 Manageaenc Fe� r.� I,.Sc l5,$82 14,5b5 20,5�3 21,570 Advinistrative Lab�r 14,312 122,870 1?7,9b4 134,3b2 141,080 ` Taxas k Lcease !?5 75Q 188 � 827 � 868 Proressianal Fees 1,1tZ 14,063 17,325 . 18,192 19,1Qt CasQut�r Haintenance Cnntract 1,b67 I0,000 14,SQ0 11,025 11,576 � Property and �iahility Fnsaranc� 1,28I T,b85 8,069 8,413 8,890 �Jffic� rent 0 0 0 0 Suppiies and 1}aterials 33'a 2;000 1,100 2,245 2,315 Ta!eflhane c:aense #DO 1,4Q0 2,520 2,b#b � 2,17a traveF and ceo�unicaEicns Z50 I,�40 1,575 1,b5# t,73b HiSC:i:aneaus Gxpensa 167 1,000 l,454 1,143 I,159 T�17AL EXP�.?4S'cS bU,�2E) S1�,b51 593,140 oZ2,941 b5�,0�i NE? iNC�J?!E 2.�5i ?74,432 :ia5,�G8 4�)4,:54 42�,4iZ yond :ieat Servic� it:;,ii0�,0�}0 - r.i5� - :4 yf.'r #8,;5� ?9.r504 192,SQi} _9?,�00 24i.2b�i %ar� �;ut::aritY � ': a =ae i.1�,". oi ��ondi �,1�J�) t2,500 I2,5u�1 12,540 12,c04 �HS� =t�� ;42.:%3) l?5�56ai �9,9�;�8 ?4,:59 IIa,6s34 • : � . __ :_ __: _ .. - _ _ .. F =� _ . ... . .-,.�---.... - . ...... . ._ . _ __. . _ .. -- = .. � . _.. __ . -- �_ _ .::-.� .�,-��_ ..�., ._ . - . . . `,.�� ,. � ' . . . . - � .. .. t� r . - . r ,�.: . . . �-.�� _ . � _ . . ` �� ,�� ` . CITY OF` S�.INT �PbUL . - � - k�� :...,,.:;::�:� (�F�'ICZ� OF' TSZC CITY COUNCIL *�� +�...aaC=l.� - . y. " �="� �y . . ' Da te ; . , � _ October 7, 1995 C � MM (TTEE RE PORT TO = SQ�n� Paul Cit� Cauncit F R � M � C O m({��'t Q Q Q C'1 C i ty Deve i opment and Transportat i on C t�a�.� : . � William L. Wilson I . Resolution adopting an amendment to the District 17 Plan pertaining to th'e Miller Hospital Site (Committee recommends approval ) 2• 123 Summit (Sent aut of committee without recommendation) This item was acted on b September 25 HRA. Not necessary to schedule ton Council agenda. _ 3. Ordinance amending 140.06 of the Legfslative Code (Skyway Ordinance) (Committee recammends approval . with amendment) 4.� Ordinan�e pertaining to Signs on Parkways (Committee � passed on to Council without recvmmendation) 5' R��- �•��t"i z i n9 the i ssuance•� of Port a��''�� ' "��'� (M rs Park East � �1`1e ':Ga l t er P��za) Comm i tt��ee s d on to�rCounc�1 w i thout �ec� �"� �� at i on. I t�m "��'��:�_�r `C��i enda. : �. l 0 i CITY HALL SEVENT�-I FLOOR S�T PAUL,112INNESpTA S5IO2 1»�'„ �