277128 WNITE - CITY CLERK
PINK - FINANCE ���(��
CANAR�- DEPARTMENT � COUQCII i
BLlJE - MAYOR G I T Y O F S A I N T PA II L � File N O. � �r
�.
, . C ncil Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
RESOLUTION CALLING FOR A PUBLIC HEARING
ON A PROPOSAL FOR A PROGRAM FOR A
MULTI-FAMILY NOUSING DEVELOPMENT PURSUANT
TO MINNESOTA STATUTES, CHAPTER 462C, AND
AUTHORIZING THE PUBLICATION OF A NOTICE OF SAID
HEARING AND AUTHORIZING THE PUBLICATION OF
THE NECESSARY DOCUMENTS AND MATERIALS
IN CONNECTION WITH SAID HEARING
WHEREAS,
(a) Minnesota Statutes, Chapter 462C (the "Act") authorizes cities, or
housing and redevelopment authorities authorized by ordinance to exercise on
behalf of the city the powers conferred by the Act, the power to issue revenue
bonds for the purpose of planning, administering, making or purchasing loans
to finance one or more multi-family housing developments within the boundaries
of the ci ty;
(b) The Housing and Redevelopment Authority of the City of Saint Paul ,
Minnesota (the "HRA") has been designated, by ordinance, to exercise, on behalf
of the City of Saint Paul , Minnesota, the powers conferred by the Act;
(c) The Act provides that a city or housing and redevelopment authority
may issue and sell revenue bonds or obligations in order to finance the program
which bonds shall be payable exclusively from the revenues of the Program; and
(d) Before proceeding with consideration of the Program it is necessary
for the City to hold a public hearing pursuant to the Act; and
COU[VCILMEN Requestgd by Department of:
Yeas Nays
Hunt
�evine In Favor —
Maddox
McMahon B
s�,o,,,,eite� __ Against Y —
Tedesco
wlson
Form Approved by City Attorney
Adopted by Council: Date
Certified Passed by Council Secretary BY
By� —_
Approved by ;Vlayor: Date _ Approved by Mayor for Submission to Council
By _ — BY
WNITE - CITY CLERK }}}yyy ['�[�
PINK - FINANCE COURCII ����
�ANAR1r : MAYOR MENT G I T Y O F S A I N T PA U L . File N O. �
�
, . Co ,cil Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Saint
Paul , Minnesota:
1 . A public hearing to consider the �road�>>ay Square Program tvill be
held at the time and place set forth in the Notice of Hearing hereto attached.
2. The general nature of the Program and the estimate of the principal
amount of housing bonds to be issued by the Housing and Redevelopment Authority
of the City of Saint Paul , Minnesota to finance the Program are described in
the form of Notice of Hearing hereto attached.
3. The Notice of said public hearing shall be substantially in the form
contained in the Notice hereto attached.
4. The City Clerk is hereby authorized and directed to cause said Notice
of Hearing to be given on publication in the official newspaper of the City of
Saint Paul , Minnesota, and in a newspaper of general circulation, not less
than 10 days nor more than 30 days prior to the date fixed for said hearing
as shown in the Notice of Hearing hereto attached.
5. A draft copy of the proposed housing finance program, together with all
attachments and exhibits thereto, are available for public inspection beginning
July 17, 1981 , from 9:00 o'clock a.m. to 4:00 o'clock p.m. , Monday through
Friday, at the offices of the Development Division, Department of Planning and
Economic Development, City Hall Annex, 12th floor.
6. At that time and place fixed for said Public Hearing, the City Council o
the City of Saint Paul , Minnesota will give all persons who appear at the hearing
an opportunity to express their views with respect to the proposal .
COU[VCILMEN
Yeas Nays Requestgd by Department of:
Hunt
�evine [n Favor
Maddox ,,�/
McMahon ��
Showalter __ Agai[lSt BY
Tedesco
Wilson
JUL 14 19�1 Form App oved by Cit Att ey
Adopted by Council: Date - -
Certified P . by Counc' ecretary BY �_/� �/
By 1�.��l.�"_�–�!/.
JUL � 6 ��j Approved b Mayor for Submission to Council
Approved b or: Date — <Y `�
BY - BY ,
PllBLiSHED J U L 2 51981
NOTICE OF A PUBLIC HEARING �/� 8
ON A PROPOSAL
FOR A PROGRAM TO FINANCE A MULTI-FAMILY
OWNER OCCUPIED HOUSING DEVELOPMENT
To whom it may concern:
Notice is hereby given that the City Council of the City of Saint
Paul , Minnesota will meet at the City Council Chamber, City Hall in the City
of Saint Paul , Minnesota at 10:00 o'clock a.m. on July 30, 1981 , to consider
the proposal of Broadway Square Associates , that the Housing and Redevelopment
Authority of the City of Saint Paul ("HRA") assist in financing a development
hereinafter described by the issuance of housing revenue bonds.
Description of Development
The development consists of the construction of a multi-family
rental housing development of approximately 65 units. The
development is located in the Cardozo Warehouse Building located
at Fifth and Broadway in Saint Paul , Minnesota.
The estimated principal amount of bonds or other obligations to be
issued to finance the development is $2,500,000.
Said bonds or other obligations if and when issued will not
constitute a charge, lien or encumbrance upon any property of the HRA or
the City of Saint Paul (the "City") except the project and such bonds or
obligations will not be a charge against the HRA or the City's general
credit or taxing powers but are payable from sums to be paid by the
developers pursuant to a revenue agreement.
A draft copy of the proposed housing finance program, together with
all attachments and exhibits thereto are available for public inspection
beginning July 17, 1981 , from 9:00 o'clock a.m. to 4:00 o'clock p.m. , Monday
through Friday, at the offices of the Development Division, Department of
Planning and Economic Development, City Hall Annex, 12th floor.
At the time and place fixed for said Public Hearing, the City
Council of the City of Saint Paul , Minnesota will give all persons who
appear at the hearing an opportunity to express their views with respect to
the proposal .
Dated this day of , 1981 .
BY
City Clerk
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