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84-1131 WHITE - CITV CLERK PINK � - FINANCE GITY OF SAINT PALTL Council CANfi<V - OEPARTMENT File NO. �� //�/ BI.UE - MAVOR � ' Council Resolution Presented By �� rred To Committee: Date ut of Committee By Date WHEREAS, recently enacted federal legislation limits the amount of industrial development bonds which may be issued in each state to $150 per capita and state legislation ailocates Minnesota's IDB authority between the state, municipalities, and development authorities within the state; and WHEREAS, this new allocation process places a limit of approximately $86 million on the amount of industrial development bonds which may be issued in the City of St. Paul and WHEREAS, since 1977 the City of St. Paul Housing and Redevelopment Authority (HRA) used revenue bond financing for housing and comnecial development which has created 4,783 housing units, created or retained 8,009 jobs, leveraged $113,914,000 in private investment, and generated $13,518,498 in annuai real estate taxes; and WHEREAS, since the beginning of the industrial revenue bond program in 1964, the St. Paul Port Authority has used industrial development bonds to finance projects which have created or retained more than 25,000 jobs, currently generate annual real estate taxes of $11,915,015, and represent over $1 ,040,000.000 in total plant investment; and WHEREAS, the City of St. Paul Housing and Redevelopment Authority and St. Paul Port Authority have used aiternative financiai tools in addition to industrial development bonds to stimulate development in the City of St. Paul ; now, therefore, be it RESOLVED, that there is established a Citizens' Cornnission to review the industrial development bond, tax increment financing, general obligation bond, Community Development Block Grant, and Capital Improvement Budget financing practices used by the St. Paul Housing and Redevelopment Authority and the St. Paui Port Authority, inventory the possible projects which may be assisted with each type of financing tool , and indicate which COU[VCILMEN Requested by Department of: Yeas Nays Fletcher °fe1nr in Favor Masanz Nicosia Scheibel __ Against BY Tedesco Wilson Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY sy tlpproved by i4avor. Date _ Approved by Mayoc for Submission to Council By BY WHITE - CITV CLERK PINK I -'FINANCE GITY OF SAINT PALTL Council �i,/ /�.�/ CANp�.Y - DEPARTMENT ( f BLU� - MAVOR File NO. j/ ,L••I - � ' Council Resolution Presented By Referred To Committee: Date Out of Committee By - Date 2 financing tools will be available to the Housing and Redevelopment Authority and Port Authority to assist future development in the City of St. Paul ; and, be it FURTHER RESOLVED, that the Commission will be composed of 15 members appointed by the Mayor with the consent of the City Council . Terms of the 15 members shall be for nine months after the first meeting of the Commission. The Commission shali present a written report of their findings to the Mayor and the City Council nine months after the first Commission meeting. Commission members should inciude: 1 member from the financial comnunity; 1 member from the buildings and trades industry; 1 member from the legal profession; 1 member from the real estate or building management profession; 1 member from the League of Women Voters; 2 members from the bond conxnunity; 1 member from the St. Paul Chamber of Commerce; 2 members from the Port Authority 2 members from the City Council and 3 at-large citizen representatives. The City of St. Paul wili provide clerical and support staff for this study. COUNCILMEN Requested by Department of: Yeas Dr�� a�y 11( � Masanz In Favor Nicosia �� s�hsws+ __ A gai n s t BY Tedesco —�iViFsen Adopted by Council: Date AUG 2 3 1984 Form Approved by City Attorney Certified d y C un .il ret BY By Approv y �Navor: Da ``- 2 7 Approved by Mayoc Eor Submission to Council By BY PUBLIS�tED S F_P - i 1984 ` I ' 1 �� 1 c � r r � J �/ / l�l � . �� < WHITE - CITV CLERK PINK - FINANCE G I TY OF� SA I NT PA LT L Council � CANARV - DEPARTMENT BLUE - MAVOR File NO• � .� Council Resolution Presented By ✓Ref r d To � � � Committee: Date ��— Out of Committee By Date , WHEREAS, rece ly enacted federal legisiation limits the amount of industrial developme t bonds which may be issued in each state �o $150 per capita and state legi lation aliocates Minnesota's IDB authority between the state, municipalit s, and development authorities within the state; and � WHEREAS, this new all ation process places a limit of approximately $86 million on the amount o industrial development bonds which may be issued in the City of St. Pau and WHEREAS, since 1977 the Ci of St. Paul Housing and Redevelopment Authority (HRA) used revenue bon financing for housing and comnecial development which has created 4,78 hausing units, created or retained 8,009 ,�obs, leveraged $113,914.000 private investment, and gene�ated ;13,518,498 in annual real estate ta s; and WHEREAS, since the beginning of th industrial revenue bond program in 1964, the St. Paul Port Authority has used industrial development bonds to finance projects which have created or etained more than 25,000 3obs, currently generate annual real estate taxe of $11,915,015, and represent over $1,040,000,000 in total plant investrt�e ; and WHEREAS, the City of St. Paul Housing and Redevelopment Authority and St. Paul Port Authority have used alternative f ancial tools in addition to industrial development bonds to stimulate dev l�pment in the City of St. Paul ; now, therefore, be it RESOLVED, that there is established a Citizens' Commission to review the industrial development bond, tax increment financ'ng, general obligation bond. Carmunity Deaelopment Biock Grant, an Capital Ir�rovement Budget financing practices used by the St. Paul Housing nd Redevelopment Authority and the St. Paul Port Authority, inventory the ssible projects which may be assisted with each type of financing tooi , a indicate which COUNCILMEN Requested by Department of: Yeas Nays Fletcher Drew In Favor Masanz Nicosia scnetbe� _ Against By Tedesco Wilson Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY By t#pproved by lVlavor: Date Approved by Mayor for Submission to Council By _ BY P NIKE - FINA CE RK COUflClI .�l��jl�l BLUERV - MAVORTMENT GITY OF SAINT PAUL , , File N 0. ' � Council Resolution Presented By . �^ Refer d T Committee: Date Out of ommittee By Date financing tools will be available to the Housing and Redevelopment Authority and Port Authority to assist future development in the City of St. Paul ; and, be it FURTHER RESOLVED, that the Cortmission wiil be canposed of 15 members appointed by the Mayor with the consent of the City Council . Terms of the 15 met�ers shall be for nine months after the first meeting of the Commission. The Canmission shall present a written report of their findings to the Mayor and the City Council nine months after the first Cortmission meeting. Camiission members should include: 1 member from the �financial community; 1 member from the buiidings and trades industry; 1 member from the legai profession; 1 member from the real estate or building management profession; 1 member from the St. Paul Pianning Cortmission; 1 member from the League of Women Voters; 1 member from the bond community; 1 member from the St. Paul Chamber of Corm�erce; and 7 at-large citizen representatives. The City of St. Paui will provide clerical and support staff For this study. COUNCILMEN Requested by Department of: Yeas Nays Fletcher Drew [❑ �dVOC Masanz Nicosia ' scnetber __ Against BY Tedesco ' Wilson Adopted by Council: Date Form Approved by City Attorney Certified Passed by Council Secretary BY gy �lpproved by 1�avor: Date ' Approved by Mayor for Submission to Council By _ BY ��. , --_• ... .�.ti• +.J.ca.�� ..L. .r�.v�� • . !� I • . �:�- � �'as�: ��; � or,z�xcr+, o.;+� a��xr cx�.�x coU��czL . 7 �j � i` .,• i. i�a s � _ � �/ �� ( f� � `�:1:i 3��1rL;+; �1�4- '�„ 1/ // :r;�\=-:-�; . Do f e : August 16,. 1984 ��'''�.�� . C4 iVi MtT'T�E R E P O RT TO = Sa�r►� Pau t City Cour�ciE . �R�� = C o m t�i r�e e o n FINANCE, MANAGEMENT Fr PERSONNE L � ' C H A I R James Scheibel ' � ' 1. Approval of minutes from meeting held July 26, I984. " 2. Resolution amending the 1984 CIB budget and transferring $13,000 fmm Co� in ant . Reserve - Specified to Executive AdminisGration - Personnel Office . , � 3. Reeolution apprnving $ZOO,OOU Federal National Moregage Association securi[ies � as collateral to protect de ublic funds of the City of St. Paul vith � . . . Capital Bank. (Finance) . . • 4. Resolution approving securities as listed as collateral to protect deposits public funds of the City of Saia[ Paul with•�•�--�-� ��-► � + . (pyRance)� ' ' �iiGi - !�" �� : . � S. ResolutloR approving an agreement with the County of Washington whereby che City � srill provide tuberculosis testing and subsequent reimbursement. - (Comcaunity Service 6. Resolution accepting the financial pledge of the fYiends of the Library and � y . expressing appreciation and thanks for the generous commitment by same [o improve the City's library system. (Community Services �,� 7. Resolution approving an agreemen[ vith the University of rfinnesota Wh�reb the Cit�� will receive the services of Dr. Leon Sa[ran, Pf.4. (Community Services) � 'f� _ , .. ',�.,r_� . 8. Resolution approving additions to'the 1984 budgQt and appropriating $21;425 to the Financing and to the Spending Plans of PED 0 erations Fund-National Endocriaent for the Arts-NeW Works Design Charrette. (PED) 9. Resolution approving acceptance of a $50,000 grant from the National Endowment � for the Arts to spansor a national design competition for the World Trade Center Plaza (Block 22) (PED) . A',� ,10. Resolution approving.acceptance of a $21,425 grant from the National Endoc.rment for the Arts to sponsor the Nev Works/St. Paul des�gn competition as part of the t3Pp- supported renovation of the warehouse at 255 Kellogg into ar[ist studio/housing. (PEp) ' � 11. Resolution approving additions to the 1984 budget and appropriating $10,987 to the • Financing and to the Spending Plans oE PED 0 erations Fund-Economics oF Amenicy= Fee to Partners for Livable Places. (PED) ' 12. Resolution approving additions to the 1984 budget. and.appropriating $90,000 to the Financing and [o the Spending Plans of Lake OverElows-Seraer Rental_ (Public T7ori:s) 13. Resolution amending the 1984 CIB budgat and [ransferring $64 00 from activi[ies . as lisced to Public �7orks Contingeney-MSA. (public (Jork � 14. Resolution approving additions to the 1984 budget and appropriating $223,467 [o the Financing and e Spending Plans of Traffic. Signal 6 Ligt�ting lfaintenance. (Public Norks) 15, Resolution approving establishment of a Ci[izens' Commission to reviev the public • . financing practice9 used by the St. P�ul !!AA and the S[. Paul Yort Au�horlcy .1ND ' setting forch i[s membe nhip and mandate (includes induscrial development bond. tax increment financing, general obliga[io bo mmurt • � and Capital Improvement budgee practices). �elo ment IIlock Crant - .._. __�-•- ---. -��-- . �...,�,_�_,,,, _..__ . � _ _-. •___.-_ - --- •- --- ' --- --- --..��._.--- - • - _-._��._�......_.._ ..... .._-":..--- - --��_.__. _ J' �J-�`��.�� ' . . s �,� . IT�'' O� SA�xN'�' �.E�.Y.J�� '._, �� `�;.., � �,,{��c��-l/�./ , � ox►,rxcr o�, ��xr cx`.L"Y COT]'1CIL �: ��r:;.� } � . : �..: ��v.. �i �,�'�+°:;:;,r.c:,.. JR�� - �. '`- � '� �- �/ ' �'�t� : August 16, 1984 �.::: . ..�. _�� .;,,. �s''"-�..-��-'� . - - COIVIMtT�'� E � EPORT � T� � Saln� Paul Cifiy Cour�cit �R O I� = C 0�Yl j�T}��`f'�g,s (�� FINANCE, MANAGEMENT � PERSONNEL ' C!�A I R .7ames Scheibel ' - - � 1. Approval of minutes from meeting held July 26, lgg4:''�� -- ss 2. Resolutlon amending the 1984 CIB budget and transferring $13,OOQ from Con in nt Reserve - Specified to Executive Administ.ration - PersonneZ Office. . �""��X Reeolution approving $�U0,000 Federal National Mortgage Association securi[ies �as collateral to protect d� public funds of the City of St. Paul with � • . . Capital Bank. (Finance),-�; , . , ""7�►. Resolution approving securities as Iisted as collateral to protect deposits � public funds of the City of Saint Paul with��•�-�-�-- � ° * (Fi,aance)° � � ---�-��. �- S. Resolution a g g � y ��`��' �" � , �t:�- . ► pprovin an a reement with the Count of Washington whereby the City srill prov�de tuberculosis testing tend subsequent reimbursement. • (Community Serv3ce �,� 6. Resalut3on accepting the financial pledge of the FYiends of the Library and . expressing apprec3ation and thanks for the generous commitment by same to improve the City's library system. (Community Servicesy� ��. .� � 7. Resolution approving an agreement with the University oP riinnesota wherebyr the Cit't - �will receive the servicee of Dr. Leon Satran, Zt.D. (Community Services) ��,��l�� _. �-� 8. Resolution approving additions to'the 1984 budget and app mpriating $21;425 to the . Financing and to the Spending Plans of PED Operations £und-National Endocment for the Arts-New Works Design Charrette. (PED) ��;�, ; �� 9. Resolution approving acceptance of a $SO,OOO grant from the Nationa2 Endowment for the Arts to sponsor a national design competftion for the World Trade Center Plaza (Block 22) (PED) ;��- �_10. Resolutien approvt.ng.acceptance of a $21,425 grant from the National Endoc,rment for , ihe Arts to sponsor the Nev Works/St. Paul des�.gn competition as part of the I3Pp- �e supported zenovation of the warehouse at 255 Kellogg into artist studio/housing. (pEp) �..11. Resolution approving additians to the 1984 budget and appropriating $I0.987 to the Financing and to the Spending Plans of PED 0 eratfons Fund-Economics oF Amenicy= Fee to Partners for Livable Places. (PED) � ""` 12. Reeolut3an approving additions to the 1984 budget. and.appropriating $90,OQ0 to . the Financing and to [he Spending Plar►s of Lake Overflows-Sewer Rental. (Pub13c L,*ori:s)' �c 13. Resolution ameading the 1984 CIS budgat and transferring $64,000 from ac[3vi[ies . as listed to Public Works Contingency-PtSA. (Public Norks�� 14. Resolution approving additione to the 1984 budget and approptiaCing 5223,467 [o the Financing and e Spending Plans of Traffic. Signal 6 Ligt�[ing Maincenance_ (Public Ftorks) ' _ / 15, lution approving establishment of a Citizens' Commission to review the public • - fi cing pr�ctices used by the St. Paul }[P.A and the St. Paul Port Authorlty 1ND se t g forCh its membership and mandate ,(i�cludes industria] deve2opment bond. crement financing, general obligation b � mmuni, - - an Capital Improvement bud et f� velopirtent Block CraRt g pracrices). • _. , _P.+b�. . . . .._.__._-•- �---_ -�.__.._...�.., ' - .._�_.__., ....�.._...__.__._._____��..�___.___-.�__.^,T,, "�" -- ._ ._.__..... .._ ___._..__._.� . . _. ...... , _...._...,....._._..�• ---__�---____.._ . ..,.,:.::-.�-a...�----- - �-�.,.._._..�_._....,..