84-1423 WHITE - CITV CLERK
PINK - FINANCE GITY OF SAINT PAUL Council /�
CANARV - DEPARTMENT FIlE NO.�� �o` �
BLUE - MAVOR
�
� uncil Resolutio � ' -
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Presented By �'
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Referred To Co mittee: Date
Out of Committee By Date
WHEREAS, Saint Paul , the pital city of the State of Minnesota,
provides an ideal setting for the Minnesota World Trade Center; and
WHEREAS, the $100 million Trade Center, which has been billed as a
one-stop service center for international business and a stimulus to the
local economy; and
WHEREAS, a request for $12 million in low-interest financing from the
Federal Urban Development Action Grant program was denied; and
WHEREAS, the Minnesota Construction Investment Foundation, an associa-
tion of Building Trades Unions, has taken a major step in filling that
large gap by tentatively offering to invest $9 million from Labor pension
funds in the project; and
WHEREAS, the project promoters have less than three weeks to meet a
state deadline for putting together a financing package; and
WHEREAS, the Minnesota Construction Investment Foundation has, in
following this course, exemplified a cortxnitment to the revitalization of
downtown Saint Paul and has represented the spirit of this cortrnunity in a
most dignified manner; now, therefore, be it
RESOLVEO, that the Saint Paul City Council congratulates the Minnesota
Construction lnvestment Foundation on its commitment and appiauds the
organization for a stand which contributes significantly to the stature of
our community and encourages the business community to pledge the remaining
finances needed to complete the World Trade Center.
COUIVCILMEIV Requested by Department of:
Yeas �����ys� �
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D"""' [n Favor
Masanz
Nicosia
scnetbe� � __ Against BY �
Tedesco
Wilson
OCi I � 8 �a!�j Form Approved by City Attorney
Adopted by Council: Date
Certified ••ed y Council re BY
g�.
Ap ro by �Navor. a `' �CT 2 6 �gg� Approved by Mayor for Submission to Council
By — BY
PUBUSHED l�OV 3 1984