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275184 WHITE —�CITV CLERK J'��'1�Q� !� • � (� P�,NK� � — FI!aANCE GITY OF SAINT PAUL Council �,. .,r �r CANARV — DEPARTMENT BLUE — MAVOR �.. File NO. ' o .ncil Resolution Presented B Referred To Committee: Date Out of Committee By Date RESOLCTrION APPRWING CERTAIN PRC17ECrS AND P�AMS AND AUIHORIZING THE ISSUANCE OF HOUSING REVENUE BOND6 V�iEREAS, (a) The staff of the Departsnent of Plannirig and Econanic Develapment of the City of Saint Paul (the "City"), of the Housing and Redevelapnent Authority of the City of Saint Paul, Minnesota (the "I�tA") and of the Port Authority of the City of Saint Paul (the "Fort Authority") have devoted substantial time and effort to the develo�xnent of certain projects an�3 programs relatir�g to housir�g finance; arid in response to the existir�g need for further provision of housing finance certain additional preliminary p�roceedings have _ already occurred with respect to sane of these projects and progra�is; (b) Minnesota Statutes, Chapter 462C, authorizes cities, including housing and redevelo�ent authorities or port authorities designated by ordinance to exercise the po�wers of a city, and port authorities, to undertake certain projects ar�d programns, and to issue housir�g revenue bonds to finance said projects and programs; (c) Certai.n other chapters of the Minnesota Statutes, including particularly C.hapter 462 ar�d Chapter 273, also authori.ze cities to undertake housirr� finance on the terms ar�d conditions set forth in said statutes; (d) It is necessary ar�d desireable that the City take additional actions at this time with respect to said projects ar�d prograans to assure that tax exgnpt revenue bond financir�g may be made available to finance those projects and programs which are given final appraval in accon�ance with law. NQnT THEREEl�RE, BE IT RESOT3JED by the City Council of the City of Saint Paul, Minnes�ta, as follaws: COUNCILMEN Yeas Nays Requested by Department of: Butler [n Favor Hozza Hunt L.evine _ Against BY Maddox Showalter Tedesco Form Appr by City Att n Adopted by Council: Date �/� Certified Passed by Council Secretary BY gy. ✓ Approved by ;4lavor. Date A d by Mayor for ion to Council By _ — By � � � �� 1. Subject to the provisions of paragraphs 3 and 4 hereof, the City Council hereby ratifies and approves the following housing projects and the financing of said projects by the issuance of housing revenue bonds: Estimated Principal Amount of Housing Project Name or Location Type of Unit Revenue Bonds Central Village 40 townhouse $ 3,400,000 Irvine Park 10 townhouse 1,000,000 6 single 600,000 family Otto-Mercer 11 townhouse 825,000 Summit Place 30 townhouse 3,000,000 Lowertown Sites 150 13, 500, 000 Block 40 150 owner 13,500,000 occupied/ rental Block L 500 owner 50, 000,000 occupied/ rental Harkins 200 condominium 20,000,000 Harwood Terrace 10 owner 850,000 occupied McKinley School 35 townhouse 2, 975,000 owner occupied Selby-Dale 90 cooperatively 7,200,000 owned/rental Baker School 15 townhouse 1,200,000 Energy Park 980 owner 85, 500, 000 occupied/ rental Wilder-Rice Park 200 owner 16,000,000 occupied/ rental Onyx 15 townhouse 1, 500, 000 Parcel 40 12 townhouse 900,000 Parcel 27 16 townhouse 1,120, 000 Parcel F-1 18 rental 1,080,000 Terrace Case 40 rental 2,400, 000 Union Gospel Mission 51 cooperatively 3,315,000 owned No. of St. Stans 9 owner 540,000 occupied Ellis Avenue 60 owner 4,800,000 occupied Trudean-St. Anthony 8 rental 400,000 Palarino-Birmingham 42 rental 2, 100,000 508-510-512-542 M'HaHa 30 rental/ 2,100, 000 owner occupied Hazel Park 108 rental 6, 480,000 owner occupied 2 , . . , � � � �� Estimated Principal Amount of Housing Project Name or Location Type of Unit Revenue Bonds Minnesota Bldg. Block . (Rupp) 150 owner $ 13,500,000 occupied/ rental . YMCA 200 owner 18, 000,000 occupied/ rental Energy Tri-Plex 12 owner 1, 080, 000 occupied/ rental Farmers Market 150 owner 13,500,000 occupied/ rental �, Butwinicks 40 rental/ 2,400, 000 owner occupied Donaldson's 200 rental/ 17,600,000 owner occupied Ruth and Burns 300 owner 24,000,000 occupied/ rental Holly & Dale 8 owner 640,000 occupied/ rental Willard Site 200 owner 17,000,000 occupied/ � rental Austin-King 140 rental/ 17,000,000 owner occupied Arlington School 9 owner 720,000 occupied Miller Hospital 150 rental/ 12,000,000 owner occupied Birmhall-Randolph 6 townhouse 480,000 Birmingham Chateau 42 rental 2, 520,000 Windfield Court 22 townhouse 1, 760, 000 Mississippi Terrace 100 owner 8, 000,000 occupied/ rental , Rice School 4 owner 300,000 occupied Bratingin-Klug Bldg. 63 owner 5, 040,000 occupied/ rental Upper Afton 26 townhouse 2,080,000 Synagogue-Ashland-Grotto 24 rental/ 1,680,000 owner occupied 3 , . , ' . �4 J�.�� Estimated Principal Amount of Housing Project Name or Location Type of Unit Revenue Bonds Bluff Site (R.R. Island) 75 rental/ $ 6, 000, 000 owner occupied Block 355 30 townhouse 2, 100,000 St. Theresa 50 rental 2,500,000 St. Paul Milk 100 rental/ 8, 000, 000 owner occupied Riley Row 28 cooperatively 2, 800, 000 owned/owner occupied/rental Angus Hotel 65 owner 5,200,000 occupied Selby Avenue (700 Block) 6 owner 480,000 occupied/rental Ashland (Ashland and Dale) 30 owner 2,400,000 occupied/rental Hamline and Taylor 22 townhouse/ 1,320,000 rental Milton Bldg. 25 owner 2,225,000 occupied St. Paul Hotel 100 owner 10,000,000 occupied/ rental � 909 Selby 15 rental/ 1, 200,000 owner occupied HRA Land Inventory/ITA Sites 60 owner 4,800,000 occupied/ rental Shepard Park 200 owner 16,000,000 occupied/ rental Laurel/Kent 12 owner/rental 960, 000 occupied/ cooperatively owned Desoto-Otsego 15 units/owner/ 1, 200, 000 rental Winslow 8 townhouse 640,000 owner/rental Riverfront 300 owner 24,000,000 occupied/ rental Drew School 15 owner 1,200, 000 occupied/ rental Garfield School 15 owner 1,200,000 occupied/ rental 4 , , , . �� Estimated Principal Amount of Housing Project Name or Location Type of Unit Revenue Bonds Sibley School 10 owner $ 800, 000 occupied/rental Dayton-Dale Station 12 owner 1, 000,000 occupied/ rental Iglehart Lots 8 owner 640,000 occupied/ rental House of Statutes 200 owner 20,000,000 occupied/rental No. Capitol 75 owner 6,000,000 occupied/rental St. Anthony Bridge Site 690 rental/ 48, 300,000 owner occupied St. Gregory 40 rental/ 3, 200, 000 owner occupied Roselawn Nursery 40 rental/ 3,200,000 owner occupied Selby Western 130 units/ 25, 000,000 rental-owner occupied Yorkshire Terrace 18 owner 1, 500,000 occupied St. Paul Hotel 100 owner 5,000,000 occupied 2. Subject to the provisions of paragraphs 3 and 4 hereof, the City Council hereby ratifies and approves the following housing finance programs from the issuance of housing revenue bonds to finance said programs: Estimated Principal Amount of Housing Program Revenue Bonds 1. Second Below Market Interest Rate 80, 000,000 Program 2. Second Below Market Rehabilitation 60,000,000 Program 3. Single Family Energy Conservation/ 40,000,000 Rehabilitation Program ( 1-4 units) 4. Family Housing Program 200,000,000 5. Mu1ti-Family Energy Rehabilitation 100, 000, 000 (4 or more units) 5 MHITE - GI7V CLERK F'� PIAK'� �-�FI�AANCE GITY OF SAINT PALTL Council r � '�L� CANARV - DEPARTMENT BLUE - MAVOR File NO• Council Resolution Presented By Referred To Committee: Date Out of Committee By Date 3. The appraval of each of the housirg projects and prograans set forth in paragraphs 1 and 2 herein, and the issuance of housing revenue bonds to finance the sa�ne are subject to all applicable requirenents of Minnesota Statutes, Chapters 462C, 462 or 273, as a�apriate anc7 nothing herein is intended nor shall this resolution be construed, as imposing ariy legal obligation on the City, its HRA or the P+ort Authority to issue housirr� revenue borx3s for ariy of said projects ar�d prograuns unless and tmtil final approval thereof is given in accordance with law. Neither said bor�ds, nor ariy interest thereon, shall constitute or give rise to an indebtedness, pec�iaYy liability, general or moral obligation or pledge of the faith or loan of credit of the City, of its I�2A, or of the Port Authority, within the meanir�g of any constitutional or statutory p�rc�vision. 4. The indent�es of trust, off icial statenents, borid purchase agreenents or contracts, or other agreements, doc�unents and instruments required in connection with the issuance of the housir�g revenue bonds to finance the projects and prograns enumerated abave, shall be submitted to the City Coimcil, or to the Board of Ca�ani.ssioners of the I�tA or the Board of CamnissioneYS of the P�rt Auttbrity as may be apprapriate, for appraval prior to the issuance of any of said bonds. COUNCILMEN Yeas Nays Requested by Department of: �� _ [n Favor ��=�= YV►I�o h Hunt Levine __ Against B Maddox Showalte Te o t"` �, �g80 Form ppro by City Attor y Adopt y Council: Date J�� /.e'ertsfied Ya • b Coun ' Se retary BY L l� � � I#pp o y � vor: Date �� p� d by Mayor f r S is 'on tca.Eouncil By _. — �� J U L 1 2 19$0 _ _ J _