275893 WHITE - CITY CLERK
PINK =� FINANCE
CANARY. - DEPARTMENT COURCII �
BLUE - MAYOR �G I TY O F SA I N T PA U L ��
CITY'ATTNY/SDM File NO. ����c- �
' u cil Resolution
Presented B
Referred To Committee: Date
Out of Committee By Date
RESOLUTION CALLING FOR A PUBL2C HEARING ON A
PROPOSAL FOR A PROGR�M FOR A MULTT-FAMILY
HOUSING DEVELOPMENT PURSUANT TO MINNESOTA
STATUTES, CHAPTER 462C, AND AUTHORIZING THE
PUBLTCATION OF A NOTICE OF SAID HEARING AND
AUTHORIZING THE PREPARATION OF THE NECESSARY
DOCUMENTS AND MA'I`ERIAL5 IN CONNECTION WITH
5AID 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 city;
(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, Min�esota, the powers conferred by the Act upon
specific program approval of the City Council;
(c) The HRA has xeceived from the Community Development
Corporation for the Archdiocese of Saint Paul and Minneapolis
(the "Developer") a proposal that the HRA undertake a program
to finance a multi-family owner-occupied cooperative housing
development by the issuance of its revenue bonds (which may
be in the form of a single debt instrument) pursuant to the
ACt;
COUfVCILMEN Requestgd by Department of:
Yeas Nays ^ �
Hunt ����
Levine In Favor
Maddox
McMahon B
showa�ter A gai n s t Y
Tedesco
Wilson
Form Approved 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
WHITE - CtTY CLERK � � -«a,r
PINK s FINANCE �
CANARY - DEPARTMENT COUtIC1I � � ���
BL�E - MAYOR G I T Y O F S A I N T PA U L File� N O.
� - -- • •
; , ;� cil Resolution
Presented y --
Referred To Committee: Date
Out of Committee By Date
(d) Before proceeding with consideration of the
request of the Developer it is necessary that a public
hearing be held pursuant to Section 462C.05, Subdivision
5 of the Act;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of 5aint Paul, Minnesota, as follows:
1. A special meeting for a public hearing to consider the
proposals of the Developer will be held at the time and place
set forth in the Notice of Hearing hereto attached.
2. The general nature of the proposals and the estimate
of the principal amount of housing bonds to be issued to
finance the proposals are described in the form of Notice of
Hearing hereto attached.
3. The Notice of said public hearing shall be substantially
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 onepublication in the
official newspaper of the City of Saint Pau7., 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 attached hereto.
COUIVCILMEN
Yeas Nays � Requestgd by Department of:
Hunt ���
Levine In Favor
Maddox �
McMahon B
Showalter _ Against Y
Tedesco
Wil
N�V q 19�Q Form Approved by City Attorney
Ado by Counci . Date /
rtified Y• ed by Co cil Secretaty BY �
By
Ap by �layor. _�V 6 ��8o- Appr ve by ay r for Submi ion to Council
By — BY
�t1SNED N 0 V 1 � 1980
, �'h��.�"��''�
.. ,d,.",
� . ., w ��.�J��. ,.. •r
NOTICE OF PUBLIC HEARING ON A PROPOSAL
FOR A PROGRAM TO FINANCE A MULTI-FAMILY
OWNER OCCUPIED (SELBY-DALE COOPERATIVE)
COOPERATIVE 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 November14 , 1980, to consider the proposal of the
Community Development Corpo.�ation for the Archdiocese of Saint
Paul and Minneapolis, that the Housing and Redevelopment Authority
of the City of Saint Paul, Minnesota ("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 owner-occupied cooperative housing
development of approximately 84 townhouses and
apartment units, 30� of which will be Section 8
assisted, together with parking facilities which
are functionally related and subordinate thereto.
The development is located on the north side of
the Selby-Dale intersection in Saint Paul, Minne-
sota.
The estimated principal amount of bonds or other obligations
to be issued to finance the development is $4 ,000 ,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 5aint 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 November 4 , 19$0 , from 9 o'clock a.m. to
4 o'clock p.m. , Monday through Friday, at the offices of the
Renewal 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 , 1980 .
By
City Clerk