277127 WHITE - CITY CLERK - � �' /��
PINK - FINANCE COUACII d
CANARY - DEPARTMENT G I T Y O F S A I N T ��U L
BLIYE - MAYOR
File N .
.
cil Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
WHEREAS, the City of Saint Paul is desirous of the redevelopment f
the Miller Hospital Property; and
WHEREAS, the redevelopment of Miller Hospital site would provide
significant new housing opportunities for low and moderate income p�rs ns;
and
WHEREAS, development plans for Miller Ho�pital are conting�nt on
certain forms of public financial assistance; and
WHEREAS, considerable time and effort has been inve�ted by the cu rent
property owner (United Hospitals) , developers Gerald Issacs and �erald
Frisch, and by the Port Authority and the City of Saint Paul; and
WHEREAS, there is a Septemb�r 1 deadline for completion of projec
land purchase financing; and
WHEREA.S, the Miller Hospital site has been included in the new Ho sing
and Blighted Lands Development Project; and
WHEREAS, the developers have applied to the Port Authority for
acquisition and construction tax exempt revenue bond financing, the is uance
of which may require project assistance
NOW THEREFORE, BE IT RESOLVED that the City Council supports as a New
Housing and Blighted Lands Development Project activity assistance for
Miller Hospital in obtaining such financing if the project can demon5t ate
sound economic feasibility, and
BE IT FURTHER RESOLVED that City Council directs staff to work wi h
the Port Authority to develop an agreement whereby Project resources, 'n-
�cluding tax increment funds, can be .sa�d to provide additional s�curit
for Port Authority revenue bonding for the Miller Hospital site.
COUNCILMEN
Yeas Nays Requestgd by Department of:
Hunt
Levine [n Favo[
Maddox �`
McMahon �� B
Showalter - __ AgBinst Y -
Tedesco
Wilson
JU� 14 �98� Form Approv d by City Attorne
Adopted by Council: Date — �� /`��E'"�+M�
Certified a-s d by Counc Sec ry BY
By
Approved by A+1 r. Date � 6 }g8 Approve by Mayor for Submission to Council
BY - – — BY �
PUBLISHED JUL 2 5198�