275871 WHITE - CITY CLERK �`' J[����'
PINK - FINANCE COURCIl • �1,7 �
C.4NARY - DEPARTMENT G I T Y O F S A I N T PA U L �
BLUE - MAYOR
.._._� File N .
o ncil Resolution
Presented B '
�
Referred To Committee: Date
Out of Committee By Date
Resolution No.
RESOLUTION CALLING FOR A PUBLIC HEARING ON
A PROPOSAL FOR A PROGRAM FOR A MUI�TI-FAMILY
HOUSING DEVELOPMENT PURSUANT TO MINNESOTA
STATUTES, CHAPTER 462C, AND AUTHORIZING THE
PUBLICATION OF A NOTICE OF SAID HEARING AND
AUTHORIZING THE PREPARATION OF THE NECESSARY
DOCUMENTS AND MATERIALS IN CONNECTION WITH
5AID HEARING. (Wilder Foundation/Energy Park)
WHEREAS,
(a) Minnesota Statutes, Chapter 462C (the "Act") authorizes
cities, or port 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
mixed housing developments within the boundaries of the city;
(b) The Port Authority of the City of Saint Paul (the
"Authority") has been designated, by ordinance, to exercise, on
behalf of the City of Saint Paul, Minnesota, the powers conferred
by the Act upon specific approval of the City Council;
(c) The Authority has received from Wilder Foundation, a
Minnesota nonprofit corporation, (the "Developer") a proposal that
the Authority undertake a program to finance a multi-family mixed
housing development by the issuance of its revenue bonds (which may
be in the form of a single debt instrument) pursuant to the Act;
COUIVCILMEN Requestgd by Department of:
Yeas N ays
Hunt �� �
Levine In Favo[
Maddox
McMahon
sr,o,,,,eite� __ Against BY
Tedesco
Wilson
Adopted by Council: Date Form Ap ed by City Attor i
Certified Yassed by Council Secretary By �Q r�� ��b
By,
Approved by :Nayor: Date _ Approved by Mayor for Submission to Council
By _ _ BY
�
, ,
NOTICE OF PUBLIC HEARING
ON A PROPOSAL �
FOR A PROGRAM TO FINANCE A MIXED � � �7��
HOUSING DEVELOPMENT �
/
TO WHOM IT MAY CONCERN: '�
� i
Notice is hereby given that the ;City Council of the City of I
Saint Paul, Minnesota, will meet at the City Council Chambers, �
City Hall, in the C�ty of Saint Paul, Minnesota, at 10:00 o' clock 'i
A.M. , on November 4�, � 1980, to consider the proposal of Wilder !I
Foundation, a Minnesota nonprofit corporation, that the Port ,
Authority of the City of Saint Paul ( "Authority") assist in fi- '
nancing a development hereinafter described by the issuance of
housing revenue bonds.
Description of Development
The development consists of the construction of
a multi-family mixed housing development of approxi-
mately 950 units together with parking facilifties which
are functionally related and subordinate thereto. The
development is located on the Energy Park site and the
Trailer-on-Flat-Car Yard west of Snelling and north of
Pierce Butler Route and on the site presently occupied
by Midway Stadium.
The estimated principal amount of bonds or other obligations
to`-�e�yissued to finance the development is $61, 000, 000.
I r
Said bonds or other obligations if and when issued will not
constitute a charge, lien or encumbrance upon any property of the
Authority or the City of Saint Paul (the "City") except the project
and such bonds or obligations will not be a charge against the
Author�ty' s or the City' s general credit or taxing powers, but are
payabie from sums to be paid by the developers pursuant to a reve-
nue agreement.
A �draft copy of the proposed housing finance program, together
with all attachments and exhibits thereto, are available for public
inspection beginning October 24, 1980, from 9:00 o' clock A.M. to
4:00 o' clock P.M. , Monday through Friday, at the offices of the
Authority, City Hall Annex, 13th 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 �"� e day of , 1980.
�
By—_ �`"��
�!l�I.ISME�1. N�� � ���f� City Clerk
WMITE - CITY CLERK
PINK - FINANCE
C�4NAR1P� - DEPARTMENT G I T Y O F S A I N T PA U L COUflC1I
BLUE - MAYOR
File N .
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
2.
(d) Before proceeding with consideration of the request of
the Developer it is necessary that a public hearing be held pursu-
ant to Section 462C.05, Subdivision 5, of the Act;
now, therefore, be it
RESOLVED BY THE CITY COitJJNCIL of the City of Saint Paul,
Minnesota as follows:
1. A public hearing to consider the proposals of the Developer
will be held �t the City Council Chambers, City Hall, at 10:00 A.M.
on November �,1 1980.
2. The general nature of the proposals and the estimate of the
principal amount of housing bonds to be issued to finance the pro-
posals are described in the form of Notice of Hearing hereto attached.
3. The Notice of said public hearing sha11 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.
COUIVCILMEIV Requestgd by Department of:
Yeas Nays
Hunt
Levine In Favor
Maddox
McMahon
s�,o,�,eite� __ Against BY
Tedesco
Wilso
Form Ap roved by City Attorney
Adopt by Counci . Date �� l
• l�c I� �! �/
rtified •.sed by oun .il Secret y BY
By
Approve y � or: D te C 3 � 198� Approved by Mayor for Submission to Council
.
By � _ — BY
��rs��o N OV l 1984
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