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279069 WHITE - CITV CLERK COUIICII 'f�.1/rC� PINK - FINANCE G I TY OF SA I NT PA U L CANARY - DEPARTMENT � �7��■, BLUE - MAVOR File NO. V � � Council Resolution Presented By � ' � Referred To Committee: Date Out of Committee By Date WHEREAS, Council File 277510, adopted October 1, 1982 did establish certain Special Fund budget policies; and WHEREAS, pursuant to the Section of the Charter of the City of Saint Paul, the Mayor recommends the following amendment be made to the 1982 budget: CURRENT AMENDED FINANCING PLAN BUDGET CHANGES BUDGET TOWN SQUARE PARK FUND Assessments $ 434,301 $ (150,000) $ 284,301 Contribution from City - -0- 150,000 150,000 Tax Increment Revenues from Downtown & Seventh Place Tax Increment District #82 NOW, THEREFORE BE IT RESOLVED, that the City Council adopts the above Amendment to the 1982 budget, and BE IT FURTHER RESOLVED, that financing from tax increments revenues from the Downtown and Seventh Place District #82 be included in the Mayor's Proposed Town Square Park Fund budget in the following amounts and in the following years: 1983 $ 175,000 1984 $ 150,000 1985 $ 100,000 1986 $ 100,000 1 � � = � � �' ; COUNCILMEN Yeas Nays Requested by Department of: Fletcher � � �ev�ne [n Favor Masanz Nicosia scheibei �__ Against 'T�-BY Tedesco Wilson pUG 5 ��Z Form Appro d by ity ney Adopted by Council: Date R Certified P� s Coi ncil r ar BY ' f B, t\pprove vor� Date _ � , Ap y Ma � u 's ion t ounci � BY _ B PU6USt�F� AU G 1419 - � ,' � � � � . . / ' ' � . ' ' L�'' . 1NTERDEPh�R MENTAL MEMORANDUM � O�,1�'6� UATE: July 7, 1982 _ T0: t•iayor George Latimer ��d Members of the City Council ti FRO:•1: Steve Wellington �� - RE: TO[:'N SQUARE FINANCING PLAN • 4fter considerable discussion with representatives of the Building Owners and M2nagers Association, the Downtowri Community Development Council, the Chamber of Com.-nerce, and Oxford Development, I am now prepared to .recommen� a financing plan for the 19�82-83 Town Square Park operating budget. ,�s you are aIl awa�e, this financing plan has been the subject of considerable controversy over the past several years. I believe all parties are now in agreement regarding a � long-term solution to this difficult issue. Staff is now prepared to reeom- mend that the following financing plan be adopted by the City Cauncil. 1.. Fro� July 1, 1982 and thereafter, costs for Town Square Park will be . allocated between the so-called Town Square "Loft" and the balance of the public space on the lower"'three levels. The Loft is unders�ood to nean all of the costs associated with the park on the fourth level, the scenic elevator, the two escalators between �the skyway and the loft level, ` zt�d fountain system on all levels, _ _ ?. Oxford Development will be responsible for 100% of the costs an the lower three levels which are not included in the Loft de£inition as e}:pl.ained above. 3. The costs for the Loft will be spread on downtown property owners through a service charge formula as detailed by Bill Donovan, the Director of Assess�:•,nts and Valuations for the City. 4. In co�sideration for Oxford assuming 100% of the costs of the lower three levels, the City k*ill agree to provide development asszseance in the foru� o� z contribution toward the operation and maintenance costs of the Towa Square public space as follows: . , � Operating Year Ccntribution " 1982-83 $250,000 _ 1983-84 150,000 . 1934-85 � 125,000 1985-86 . 100,000 1986-87 50,000 . �' L��aaa � . . , 3 . . -2- y Tne source of this developmen.t assistance is tax increment revenue provided as '�`�,;;F a part of the Seventh Place Project Redevelopmeat and �inancin� Plan. The "=?x` so-called Seventh Place Tax Increment Project aperates on a caiendar year basis :r' as opposPd to the July to June budget year for the Town Square operating hudget. ' � Consequently, the allocation that is proposed from down:town tax increment proceeds �s as follows: 1982 • $150,000 . • 1983. r 175,000 1984 150,000 � 1985 100,000 1986 100,000 Total. $675,OQ0 It is estimated that over the n�xt five years the total cost for the public space will equal $3,929,548. This figure assumes that the operating bu�iget f�r, the total publ.ic space (Town Square Lof_t and the lower three levels cou�bined) will i.ncrease at a rate of approxi_matel.y 10%. Using these assuznptians, tne $615,000 of City financial assistance from the Downtown Tax Increment Dist:rict will equal approximately 17% of the total costs for the public space o��er the next five years. It should be emphasized that the City assistance declines over time and that as of July 1, 1987 Oxford Development will be responsible for 100% of the cost of *_he Iower three levels without any City assistance.: �" ?�ttached to this memorandum are copies of the detailed assessment plan as prepared by Bill Donovan's office, a map of the dowTntoc�n area illustrating ttie four zones of properties which will be affected, the detailed 1982-83 operatir.� budget for Tok�ri Square, anci a copy of the proposed amendment to the Downto�-n '�ax Increment Budget. If there are any questions with any of these materials prior to the 3uly 13th gublic hearing please feel zree to canLact n�e. S[,T:d a cc: Jim Bellus Jim Hart � Walt Bowser John Poor - Bill Donovan � Gr.eg Blees _ . , � 4 . �� 5�:��`IC� Total Es�i:aated costs and financir.g plan for ti:e praposed 1evel oi C:'Q�:GE Operation and uaintenance for Tow�n Saua:e "Pub?ic Space�" for t�ie -�:p�- period :rom July 1, Z982, to June 30, 1983, is as , iollows: `AT10ti • Concourse Level S134,634 - 100; Da2G� tJ� �:cTor� Street/Skyway 222,640 - 100i paid bv Ox�ord. . � Loft 2�6,37b - Paid by all P:operties T��al Budget � Sb43,6�0 �stimated Service Cnarge rates are :iou:ed in �ollars per square :oot c�f - land area. SERVICE CH?3GE. BLOC�S� , ZOtv� RaTE _ I:� ZOATE Toc,.i Scuar� Ohford $2.4E3360!� � � 35, �Oi Zone 1 $ .09':961 35,."s7,�°,5t}8,51,60,5?,62 Z.one 2 S .0647!�0 2Z,��'�3�?!�s3!,�33,,5,�2, . • 59,63,71,�2,73,i�:,7� Zone 3 S .043��I1 1i,12,13,14;I3,�G,2p,25 25,33,39,'+Q,4�,-�6,4;,5.i 54,�7,�fi,64,6�,69,70,76 ��g��g;,S4,8�,8E,E7,�s;g9 Zorie 4 -$ .004?02 1,2, 3,i,5,5,i,8,9,10,15,16 • 17,15:,27p28,29,30,31,3? 41,!+3,!•�,»,56,66,6i,7S, ' 79,gl,gp,°1,93,G4,95,95 * See attached map to locate Blocks . - :. , , _. . . .. - - - -_ ..�,...a...�....,...�._....._.._._ . �.._. . . � :.: �.:...::.�..:�.�:::::...;._ , . -. ,,�, - -- .�.��.:,. .. .. _. . :.: ,.w.��-. t!1 � W N ., � n � N W ct _�..'. G p p .� � y� t � � . � n p O '� — �.} - - Q � ¢r ci- c-t � � � � � �� v � ..�J J � I�V W . . � � � ..S � �..s � � Q '� ' � '� � � c � N • � C � � � N _ G. 4 fD � � ! _ ff] � , CO fD fD � ¢, cC - W O� N ct fi � � p C W . .�. N � W N � � ..a. ID � � tn -S � .c} � iv -5 �D . . (D �p � tn < � �' ' � �- � � --s � � (n t0 fD Q' OJ y - . . � � �. � J� . Tl . . � - -� fD C]- Z • � rD -'s � ' � p • N � � �, w � �-- � tn ct f7 � � a1 N � - N (D N � N - �. .-. c-}� � �- O � `�',, "' o � -� r -n -a o �-. c� c� � �' � ° � . p, ,. � � rr � � u cNi� � � o c-�t O � O � C N N 01 � . V O Q1 V � W � � C � � O.. '�'S J N N ?� C� N �? � C � � �. � O o 4 C7 �3 �- �s < -s � m m cn v� cn c � ..S � • •. � �A C n o � '� c� � ,N ° �'; c�-� � � . ' • �� .{. � .._+ C _ • . � � _' �V � �-" � n • � X � �J � � • , � 0 � . . � pQ N N N � v� " �p . X 'l7 • (D . y � � Cll . CI7 Ol --j • . ' � CTl • W .A � . N . .A V W c+ _ � � .� W W Cil 01 �-' N W � Ctl � O � . �. � , • , �. �: �:�'��::� iY �IT. c)r�. 1r 'i�...,,-..•• • ' ' �`4 , • Do t e . July ��. 1982 � - ��.,,,� . . . , . . . • �, _ �. � C 4 �l1 I�JI l T T E E � R E P � R i - ;�`�9�69 . � TO : Soin�t PouE City Coctrrcit _ . � � - � FRO � � Commi-t�ee Ot1 FzNANCE� MANAGEMENT � PERSO�TNEL - . � . ' James' Scheibel , choiFmon, . �=•�� : ._� .- The Finance Committee; "at �the meeting of �/29/g2 . , recommended approval of the following: . - 1. Approval of minutes from meeting held July 22, 1982_ . • � 2. Resolution reimbursing I�-. �, Mrs. James Carmouch for �overcharges in .the amount of $233_40 due to an error in the classification of their property for tax purposes. ��, -�-,__.�'=��`"�� _. - 3. Resolution reimbursing the Dept. of I�'atura2 Fesources for overchar es in � street maintenance assessments for the Fish }latchery site. �...a ' 4. Resolution appro�ing a tti,ro year Agree�ent� be�,t►;� . St_ Paul and the Electrical Union, Local 110. '��.�fle' �� - - �� - �-�� .,� S. Resolution authorizin d�S�uc,ta.on..caf�arious City of St. Paul General Obligation Bonds. ��13� �� - 6_—Resod��.iau-a��3c�o��g--�-�e-1�82...]�a,S�3lte�a�e--�,a�ol'-Aoa..�ee�►e33z-beLwaPn tt,P ['ity=� �tT-�atd-e�d-t�e-£-i�vator{.jonst�rne��-s--�3r��o�;—�,c�e�-�� 'r��'°r,r�c�rs--:.�L�•,---�,,.--c ; 7. Resolution amending the Civil Service Rules concerning promotion re r� ents ��:�Q i . S. Resolution transferring �23,000 into the Oxford Pool Account code�� 3-p -� ��.Presentation by Joann I�elson of the Rec}•cling Unlimited Proj ect. /� ! �� • - _ C� �� ,'1��il:i.c:.;� � Gll'o l.�A� C�-D /�-t1 1� � �i(;�lti '/��' .. �� //r)/�J� . -' 1�=�`.'%�� li r.��s'�.;.G. CJ _. !/ ✓ / „��i CITY' ;!:\(_L SEVF.�TH F1.OUR ,:�I�-T P�\1;L, :.tlti`f=S��f.\ S�I(�'_ _�„ . . + DEPARTMEi�T: P �,A • ' ' CONTACT s '�'a-wL �'el�.c-c.�.�-t _ � ROUTING a�a EXPLANATI�N SHEET p}��E; ��qo _ GREEN. SHEET �� - i �l For Administrative Orders, Resolutions, Ordinances and. Agreemeats ROUTING ORDER — ROUTE BY ASSI6NE� NLMAFR; �JUL � 91982 I CTOR OF MANAGEMENT MAYORS 0 F °� . �'��69 , DEPARTMENT DIRECTOR DIRECTOR, FINANCE 8 MGT. SERYICES ' CITY ATTORNEY CITY CLERK BUDGET DIRECTOR ' ACTION RFALESTED �GLIP A 0 ATt�NS FaR I�LeYORA StC1�LeTL�s€,: Approval to s�bmit Council Resolution amending the financing�plan of the 1982 Town Square Park Fund Budget. �IHAT WI B A HI VEfl BY TAKING ACTION ON THE ATTAGHED NL�TERIALS- �PLRPOSE AN� RATtONALE)?; The City will finance a portion of the 1982 operating and maintenance costs of Town Square. FIN NCIAL. BLlpGETARY AN� P RSONN IMPA -TS ANTI -IPAT D, Change in the �Financing plan of 1982 Town Square Park budget decreasing assessments by $150,000 and replacing this with a City contribution from �owntown T�x increments of $150,000. Also, the City is proposing to make � additional contributions from tax increments in the a�aunt of $525,000 from 1983 - 1986. ATTACHMENTS �LIST ALL ATTACHMENTS): r 1. Council Resolution . 2. Memo from Steve Wellington to the Mayor and City Council ' 3, eccae nev.cew neceee ort. en,t o e o w�c.ng 4uppo cwnewta � . . C.r,ty +ILWn.ney: 1. Counci.t Reao�Cu.t.i.on Requ,ucedt yES NO i. Reea.P.atL°on? YES NO 2. Ineunan.ce Requ.ih.ed' YES NO 2. inawca►tce Sc�6b.i.�i.�.tY YES NO 3. Ineunanc.e Ax.tachedY YES NO Rev3sian OFIe4/29/82