279226 N/HITE - UTV GLERK ' L`
PINK - FINANCE G I TY OF SA I NT PALT L Council ���ZZ�,
CANARV�i- DEPARTMENT
9iLUE - MAVOR File NO.
City Attny/RSH � C uncil Resolut • '' * •
1
Presented By � ' �� '�'
Referred To ommittee: Date
Out of Committee By — Date
RESOLUTION AUTHORIZING HRA TO ACT AS AGENT
FOR CITY UNDER UDAG NO. B-82-AA-27-0039
WHEREAS, the City of St. Paul, Recipient under Urban Develop-
ment Action Grant No. B-82-AA-27-0039 ( "UDAG") has received
preliminary approval for a grant of $1,505,000.00 for use in the
redevelopment of Selby Avenue between Arundel and Western Streets
(Hill Plaza South Project) ; and
WHEREAS, the Housing and Redevelopment Authority of the City
of Saint Paul, Minnesota ( "HRA") will issue its Commercial
Development Revenue Bonds, Series 1982, Hill Plaza South Project,
the proceeds of which will be loaned for construction of the
Hill Plaza Project; and
4�THEREA5, the HR.A will loan, for construction of the Hill
Plaza 5outh Project, the sum of $1,200,000. 00 according to the
terms of the HRA Loan Agreement, dated as of September 1, 1982 ,
by and between HRA and Hill Plaza Associates A I�iinnesota Limited
, �artnership; and
WHEREAS, the City of St. Paul and the HRA are desirous of
coordinating the expenditure and disbursement of public funds
for the construction of the Hill Plaza South Project.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City
of St. Paul, as follows:
l . The City of St. Paul hereby authorizes the HRA to
act on behalf of the City and as agent for the City in its
capacity as Recipient under the above-referenced UDAG.
COUNCILMEN
Yeas Nays Requested by Department of:
Fletche►
�evine In Favor
Masanz
Nicosia
Scheibei _ __ Against BY
Tedesco
Wilson
Form Appro by City Attorney
Adopted by C ouncil: Date —
Certified Passed by Council Secretary BY i����� �/V�'��^��
By
t�pproved by Mavor: Date _ Approved by Mayor for Submission to Council
BY - – — BY
WHITE - CiTV CLERK COI1flC11 /�/��,���
PINK - FINANCE G I TY OF SA I NT PAU L
CANARV�DEPARTMENT
BtUE � - MAYOR File NO. _.
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
-2-
2 . The City Council hereby authorizes the execution
of the attached Agreement between the City of St. Paul and
the HRA.
COUNCILMEN Requested by Department of:
Yeas Nays
Fletcher �
�""'� [n Favor
Masanz
Nicosia
Scheibel _ � __ Against BY
�ede�eo
Wilson
SEP 1 4 1982 Form Approve by City Attorney
Adopted by Council: Date —
Certified a_ b Counc� Sec ar BY ���'��'��-`�'`
g�,
�pproved '14avor• Dat — Lt �ne' Approved by Mayor for Submission to Council
BY -- — BY
�u��tsy�� SEP 2 5 1982
� .
'yi . : �L+`0 ��o��
AGREEMENT
THIS AGREEMENT, made and entered into this day of
September, 1982, by CITY OF ST. PAUL, MINNESOTA, ("City") ,
Recipient under Urban Development Action Grant No. B-82-AA-27-
0039, ("UDAG") and the HOUSING AND REDEVELOPMENT AUTHORITY OF
THE CITY OF SAINT PAUL, MINNESOTA, ("HRA") .
WHEREAS, the City has. applied for and has received pre-
liminary approval for the above-referenced UDAG; and
WHEREAS, the HRA will issue � its Commercial Development
Revenue Bonds, Series 1982 (Hill Plaza Associates Project) in
the amount of Five Million Eight Hundred Thousand Dollars �
($5, 800, 000.00) , the proceeds of which will be loaned for a
portion of the cost of the construction of the Hill Plaza
project; and �
WHEREAS, the HRA and the :City have undertaken the redevel-
� opment of residential and commercial properties in the vicinity
of Selby and Dale Streets in St. Paul , Minnesota, more specifi-
cally known as Hill Plaza project; and
WHEREAS, the HRA has acquired for redevelopment purposes,
several parcels of land located along Selby Avenue near Dale
Street; and
WHEREAS, both the HRA and the City are desirous of coor-
dinating the expenditure of public funds and the administration
of the redevelopment of the Hill Plaza Project in 'general.
The HRA and the City, in consideration of the premises,
. do hereby agree as follows:
.� •
-2-
1. The HRA agrees to act as agent for and on behalf of
the City in its capacity as Recipient under the UDAG.
2. The HRA agrees to receive and accept on behalf of
and as agent for the City, the UDAG funds .of One Million
Five Hundred Five Thousand Dollars ($1,505,000.00) which .
will be disbursed to the City under the UDAG.
3. The HRA agrees to disburse the UDAG funds on behalf
of and as agent for the City, in accordance with the terms
and conditions of the UDAG Grant Agreement, a copy of which
is attached hereto and made a part hereof.
IN WITNESS WHEREOF, the parties have hereunto set their
hands all as of the day and year first above written.
. . � �. �7�►2;��
�, .
-3-
� CITY OF ST. PAUL, MINNESOTA
. By
Mayor
, By .
Director, Department of Planning
APPROVED AS TO FORM: and Economic Development
By
Assistant City Attorney Director, Department of Finance
and Management Services
HOUSING AND REDEVELOPMENT AUTHORITY
OF THE CITY OF SAINT PAUL, MINNESOTA.
By
Commissioner
.
By
Commissioner
.0
lst 9 /lp ` 0� 2nd —��— 0�
� '�,_ �a � r
3rd o� Adopted � � � Z
Yeas Nays �
FLETCHER
LEVINE " � ` ��
�,S�Z �'�9�`�'�
NICOSIA
SCHEIBEL
WILSON
MR. PRESIDENT TEDESCO