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279442 WHITE - CITV CLERK PINK - FINANCE GITY OF SAINT PAUL Council CANARV - DEPARTMENT BIUE - MAVOR File NO. � '� � " � oun il Resolution �` Presented By G��r''-�`� Referred To Committee: Date Out of Committee By Date RESOLUTION TO PROVIDE ADDITIONAL TEMf'ORARY FINANCING FOR THE DOWNTOWN DISTRICT HEATING PROJECT AND TO AMEND THE DOWNTOWN AND SEVENTH PLACE TAX TNCREMENT DISTRICT 4�82 FINANCING PLAN. WHEREAS, Council Resolution CF279286 adopting the City's 1983 Capital Improvement Budget, included financing from tax increments of the Downtown and Seventh Place Tax Increment District ��82 for the District Heating System Loan Project in the amount of $1,050,000; and WHEREAS, Council Resolution CF279067 requested that the Mayor's 1984 Proposed Capital Improvement Budget and Program Budget documents, include a funding obligation of $1,250,000 for the District Heating System Loan Project to be financed with District ��82 tax increments, and WHEREAS, it is necessary to increase the total amount of the loan to the District Heating Project to $7,800,000 to finance construction of Project distribution lines serving the Seventh Place Redevelopment Project; now therefore, be it RESOLVED, that the District Heating System Loan receive additional financing from District ��82 tax increments and be included in the Ma.yor's Proposed Capital Improvement Budget and Program Budget documents when these are prepared for City Council consideration in the following years and amounts: 1984 Budget Document $ 1,000,000 1985 Budget Document $ 4,500,000 BE IT FURTHER RESOLVED, that the Downtown and Seventh Place Tax Increment District ��'82 and Redevelopment Project Financing Plan be amended to include the additional $5,500,000 for the District Heating System Loan to be financed from tax increments. BE IT FINALLY RESOLVED, the City Attorney is authorized and directed to prepare a Loan Agreement and related documents for the District Heating System Loan increase to be presented for City Council consideration and approval. COUNCIL�IEN Yeas Nays Requested by Department of: Fletcher Levine In Favor Masanz Nlcosia scheibei __ Against BY Tedesco Wilson Form Approved by City Attorney Adopted by Council: Date Certified Yassed by Council Secretary BY By. t�lpproved by ;Vlavor: Date _ Approved by Mayor for Submission to Council By _ — BY WM17E - CITV CLERK , PINK - FINANCE G I TY OF SA I NT PAU L Council �--�t��.�� CANARV - DEPARTMENT BL.UE - MAYOR File �0. ��1 • �+ ouncil Resolution 1 Presented By �' � Referred To Committee: Date Out of Committee By Date A summary of the District Heating System Loan project in the City's Capital Improvement Budget follows: Financing Amount 1983 Adopted Capital District ��82 Tax $ 1,050,000 Improvement Budget Increments 1984 To be included in District #82 Tax 2,250,000 Mayor's Proposed Capital Increments Improvement Budget 1985 To be included in District ��82 Tax 4,500,000 Mayor's Proposed Capital Improvement Budget Increments TOTAL $ 7,800,000 -__ �� �..� Budget irector ��1�.-- .�-�,,Director of Finance & Management Services COU[VCILMEN � Yeas ��{ Nays � Requested bi Department of: �evine [n Favor � P � Masanz � Nicosia scne�nei _ __ Against BY Tedesco Wilson [��� 9 198� Form Approv y City tto ey Adopted by Council: Date � �/ � Certified P s e ou c� BY B;� t�pproved by ,,a ate �OV � � 1982 Approv y yo fot Su issi to Cou cil i By _ BY ;�.���.����ti� �`OV' � 0 1982 C.t.Q.�, �� �, `k �ly � ��` Pianning & Econ. Dev. DEPARTt,1ENT �'�944� v Thomas P. Meyer CONTACT 7494 ext. 225 PHONE ���� �� November 1 , 1982 DATE (Routing and Explanation Sheet) Assign Number for Routing Order (Clip All Locations for Mayoral Signature): � Department Director � City Attorney D 5�Director of Management/Mayor 3 Finance and Management Services Director City Clerk 4 Budget Di rector i�hat Will be Achieved by Taking Action on the Attached Materials? (Purposel�ationa,�- Provide additional temporary financing for the Downtown District Hea�ting project. Financial , Budgetary and Personnel Irr�acts Anticipated: An additional $5,500,000 in Downtown Tax Increments will be used to finance the � Downtown District Heating project. � , k� Funding Source and Fund Activity Nund�er Charged or Credited: � Downtown and Seventh Plance Tax Increment Fund 70201-539-006 0� Attachments (List and Number all Attachments) : 1 . Council Resolution .. DEPARTMENT REVIEW CITY ATTORNEY REVIEW X Yes No Council Resolution Required? Resolution Required? Yes No Yes X No Insurance Required? Insurance Sufficient? Yes _ No Yes X No Insurance Attached? Revision of October, 1982 (See Reverse Side for �Instructions) I / i .,,'��'.: C;ZT'�' OF ��TI�'i` .L��1UI. ����l�f�a� � !----�`"' Ok FICE ON' 'i`HE Cz I'Y CUL7:`CIL c � _ �_ �'rf;�� r. � .....,....... t � '�":'_'t�'= D a t e : I�ovember S, 19fi2 < �- COMMITT � E RE PORT _ _ TO = Satn� Paul City Councii F� Q M = C o m r�it t e e O h FINANCE, MaNAGEhiENT F� PERSONNEi, - C N A I R James Scheibel 1. Approval of minutes from meeting held October 28, 1982.�� 2. Resolution approving the application of J. William Donovan for the Abatement of Taxes and Assessments per County Auditor's Report �2040�''`�°"�� . 3. � ' �.��p��.;.�}�f'Lmrlc frnm t}ia T PXi�tnnTnavina *+ n' `� '-p—a---.� � ; .,., , � ►�. Psi � tir «v,�xs. ����.�.,g�s rn�ri ci nn . �e � 4. Resolution authorizing additions to the 1982 Fire Equipment Trust�--�_`� � Fund Budget, 55001. 5. Resolution approving an amendment to the 1982 - 1984 Agreement betwee � the City and the St. Paul Supervisors Organization. ��, 6. Resolution approving a two year Agreement between the City and the �iC�:.a-�� C Boitermakers, Lodge 647. �� _ _ __ �7. Additional discussion of the proposed assessment policy ,�£Ff���.-__" , ;����� �� T AGENDA ITEMS BROUGHT UP, NOT ON ORIGINALLY PREPARED FINANCE AGENDA: 8. Resolution approving the issuance of revenue bonds to finance the 4'�a_� construction of an office and manufacturing facility for Suntec Systems,-Znc. 9. Resolution authorizing proper city officials to executive amendatory district heating design loan agreements kith the State of A4innesota and District Heating Development Company. ���-a"�� � ------.--�y:. 10. � � � � rary financing for the Downtown the Downto and_�eventh Place tax increment District �82 fin�-�cing plan. ���-a�� O CIT�' I-iALL SEVENTH FLOOR SAINT PAUL. 2.i1NNESOTA SSI02 ;��,