277213 WHITE � CITY CLERK J /����
PINK - FINANCE � COUACII F� 1
CANARY - DEPARTMENT � G I TY O F�- SA I NT PA II L � �
BLl4L° - MAYOR � FIIe N O.
, , C cil Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
RESTRICTION ON USE OF PUBLIC MONEY TOWARD CONVERSIONS
WHEREAS, the vacancy rate for rental units in St. Paul is less than four
percent; �
WHEREAS, new construction of rental housing units has not kept pace with the
demand for rental housing;
WHEREAS, 40% of the City's population is renters;
WHEREAS, there have been more than 100 units of the rental housing stock
converted to ownership use each year in the past 3 years;
WHEREAS, the conversion of occupied rental units to ownership is causing a
hardship for displaced tenants, especially low- and moderate-income tenants;
WHEREAS, projections about future housing market conditions indicate little
improvement in the dwindling supply situation for rental housing; and
WHEREAS, the City has approved a policy restricting the use of Minneapolis/
St. Paul Family Housing Funds for conversions;
NOW, THEREFORE, BE IT RESOLVED, that the City of St. Paul prohibit the use
of public financing mechanisms to aid in the conversion of rental housing to
ownership liousing until adoption of a Low Income Housing Strategy and any
implementing ordinances necessary to carry out pertinent recori�nendations of
that plan.
Exemptions to the restriction on use of public financing for conversions may
be made for projects which provide some housing for low-ineome households
within the converted structure.
-continued-
COUNCILMEN
Yeas Nays Requestgd by Department of:
Hunt
Levine In Favor
Maddox
McMahon
snowaite� __ Against BY —
Tedesco
�Ison
Form Approved by City Attorney
Adopted by Council: Date —
Certified Passed by Council Secretary By
B�� --
Approved by :Vlayor: Date _ Approved by Mayor for Submission to Council
By - – BY
WHITE � CITY CLERK ��%1 �
PINK - FINANCE
CANARY - DEPARTMENT G I T Y O F S A I N T PA u L COUIICII ti e f��'
BLU� - MAYOR File N O. � .
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
BE IT FURTHER RESOLVED, that the Planning Commission of the City of St. Paul is
requested to recorarnend to the Council a strategy for meeting low-income housing
needs and �onserving rental housing in the city as soon as such a strategy can
be developed with adequate time for community review.
Definitions. The terms used in this resolution shall have the following meanings:
PUBLIC FINANCING means any public program which makes available construction
and/or mortgage financing and for which the City of� St. Paul has management
responsibilities, authorizes payments, or makes allocation decisions.
CONVERSION r�eans the process or action of converting an occupied rental building
to ownership use or creating ownership opportunities (condominium, cooperative,
rowhouse or townhouse) in a vacant building which was previously occupied by
renters.
The following guidelines will be applied to determine if a project is classified
as a "conversion".
1 . Structure of 4 or more units currently used as rental housing;
2. Vacant structure of 4 or more units, previously occupied as rental
housing, which has been vacant less than 5 years;
3. Any structure for which rehabilitation as 4 or more rental housing
units is a feasible alternative.
LOW INCOME HOUSEHOLDS means individuals and families whose adjusted gross annual
incomes fall below 80% of the Standard Metropolitan Statistical Area (SMSA)
median income.
COUNCILMEN
Yeas Nays ,s Requestgd by Department of:
Hunt -`
Levine In Favor
Maddox �
McMahon A ainst BY
Showaiter -- g
Tedesco
wlson
Adopted by Council: Date JuL 3 t1' � Form Approved by City Attorney
Certified Ya s d Council S tar BY
By
Appr e by :Wayor: " � 3 ��' Approved by Mayor for Submission to Council
By BY
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CITY OF SAINT PAUL
- OFFICE OF THE CITY COIINCIL
eameese
■u��e�ese
B��i _
July 28, 1981
BILL WILSON
Councilman
T0: Albert B. Olson
City Clerk
FROM: William L. Wilson i. �
Councilman
The Legislation Committee recommends
adoption of the resolution placing re-
strictions on use of public money toward
conversions and requested the P]anning
Commission to recommend to the Council a
strategy for meeting low income housing
needs.
WLW:Is
CITY HALL SEVENTH FLOOR SAINT PAUL, MINNFSOTA 55102 612/298-4646
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• . f.� a I ���
_ CITY OF SAINT PAUL
� :�e��N OFFICE OF THE CITY COIINCIL
........
�'�' _ �
July 28, lggl
BILL WILSON
Conncilmaa
T0: Albert 6. Olson
City Clerk
FROM: William L. Wilson ! �
Councilman
The Legislation Committee recommends
adoption of the resolution placing re-
strictions on use of public money toward
conversions and requested the Planning �
Commission to recommend to the Council a
strategy for meeting low income housing
needs.
� WLW:Is .
CIT�'HAI-L SBVENTH FLOOR SAINT PAUL, MINNESOTA 55102 612/Zgg�t6q6
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