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270078 WHITE - CITV CLERK f PINK - FINANCE COUIICIl CANARY - DEPARTMENT GITY OF SAINT PAUL �.:��f�� BLUE - MAVOR File NO. Council Resola�tion ,� � Presented By Referred To Committee: Date Out of Committee By ' Date WHEREAS, The Port Authority of the City of Saint Paul has agreed to finance the acquisition, installation and construction of the Radisson Parking Ramp in Block A in conjunction with a Down- town Redevelopment Plan; and WHEREAS, The Port Authority of the City of Saint Paul has agreed to enter into a Lease Agreement with TMD under which TMD would provide for the construction and operation of the parking ramp; and WHEREAS, TMD has agreed to assign its rights under a proposed Sublease Agreement between TMD and the City of Saint Paul to the Port Authority of the City of 5aint Paul ; and WHEREAS, TMD and the Port Authority have given their approval to the terms and conditions of said Sublease Agreement which provides that the City of Saint Paul shall operat� the parking ramp; now, therefore be it RESOLVED, That the proper City oiE£icials are hereby authorized and directed to execute on behalf of the City of Saint Paul said Sublease Agreement and its terms and conditions thereto. COUNC[LMEN Requesbed by Department of: Yeas Nays � � Plan ing and Econo ' evelopment Hozza (n Favor Hunt � � � - �— Levine Against BY �� ' Roedler Sylveste �� N�� ] �g�� Form Approved by City Attorney Ad ed by Counci • Date Certified _sed by Council Sec'tetary �� J� 7� Y A v d by Mayor. e " eEr,ai '.� �i j�� Appro ed y Mayor for Submi ' n o Co ncil ��s�� By By . �;;�,�:,;��r;; �:�`� � � 197� - .�---� � � : � ��c�c 7�'' . � S P E C I A L M E E T I N G N 0 T I C E 0 F T H E C I T Y C 0 U N C I L Thursday, November 17th, 1977 9:30 A.M. City Council Chambers SUBJECT MATTER: 1. Authorization of proposed Port Authority revenue bond to finance Block A Parking Ramp construction. 2. Authorization of execution of contract for galleria structural costs in Block A between City and Port Authority. � 3. Approval of sublease of parking facility ia Block A between T1rID, Inc. , and City. , � / . � . � -,,,;� ��_�-L, % cil President. � � � 0 -Z- . . . feature of the hotel development will be its atrium court, one plane of which will serve as solar collection surface to supplement domestic energy requirements. PARCEL SQUARE PURC] NUrIBER ADDRESS PURCHASER FEET PRII E-3 Air Rights to the Oxford Properties U.S. LTD, 37,473 $219,21 no--�•=ierly portion an Alberta, Canada corporation of che block bounded . by Seventh, Minnesota, Cedar & Sixth Sts. The redeveloper proposes to purchase the air rights and redevelop it by constructing a three story building along Seventh St, and a three to six story building along Cedar St. for retail and com.�-nercial functions. Is there anyone who wisties to be heard on these sales? If not, t'�z Chair will dec�ar� this public hearing ad�ourned. - - - • - •_ .... . . v� v. ..�. . � r�v�.� �r��vi�VJUI �i ♦ ��"� � . RE�ORT TO THE CQMi;�IlSSIONERS DATE November 1�, 1977 - R EG�i R D f�J G DISPOSITION PARCELS NUMB�R A-2, A-4 AND A-3 - DOWNTO�JN CO�NNITY DEVELOf'ciF.iJ'P PROGRAM DTSTRICT 17 (DOWNTOWN URBAN RENEtJ�1L PROJECT, MINN. R-20 II3CLUDLD) STATEt1ENT OF THE Ct?AIRPSAIV Being duly authorized by the Board of Commissioners to conduct this Public Hearing, the � h�aring is now open. This is a Public Hearing called on the proposed disposition of cer- • tain parcels in the Do�anto�,m Community D2velopment Program District 17, which includes the Downtoc,m Urban Rene:��al Pro�ect, Minn. R-20, by the Housing and Redevelopment Authority of the City of Saint Paul, County of Ramsey and State of Minnesota. Notice of the time, place and purpose of this hearing was published in the ST. PAUL PIONEER PR�SS �.nd DISPATCH on Novemb2r 5, 1977. � The affidavit of the publication of the Notice of Public 'Hearing c•rill bz made a part of these proceedings. The Housino and Redevelopment Authority proposes to sell the following properties in its Do�:�i�town Community Development Program Distr.ict 17, which includes the Downto�an Urban Re- nc..�al Project, Minn R-20: ' PA�CEL SQUARE PUFCI-IASE NUPiBEP. ADDP.ESS PURCHASER . FEET PRTCE A-2 , North�aest corner St. Paul Joint Venture, 30,423 $177,975.00 of riinnesota St. a Minnesota Partnership, & E. Sixth St. consisting of Capital Hospitality Corporation A-4 Northeast corner and SPtI Hotel Company 20,556 $120, 253•00 of Cedar St. & E. Sixth St. Ttie redeveloper proposes to purcl�:ise the atr rights and redevelop it by constructing a 1G-story hotel. The hotel �oill contain 250 sleeping rooms, plus nt�merous mceting rooms, restaurant facilities, a hallroom and ou•tcloor roofdecic recreation facilities. A �infque -1- I , ..�...,.�� _---- � = C,_ �. ,70� �8r , � �'�� i I '1'1' O 1:' .5:1 I\"1' ��:1 I�L . �` �a a4 i `� <)1'1'']Cil: O1' "CIII'. �1.11'OI: �rtE� � _ _J� 3-�Z CITT tI:1L3. S1I\T P_1tiI., JIINIESO'1':1 <5510'� ..~ (f31•_� •'f�fl—.1:33:3 GF.OFGE L_\TI}IER riAYOx November 9, 1977 T0: MEMBERS OF CITY COUNCIL/HRA BOARD OF COMMISSIONERS FR: MAYOR GEORGE LATIMER RE: BLOCK A PARKING RAMP/RA�DISSON/O�E'ORD DEVELOPMENT Attached is a staff report preparing you for the special HRA Board meeting scheduled for 9: 30 a.m. Thursday, November 17th. The timing on the Port Authority revenue bond sale has necessitated the November 17th meeting. , The documents and agreements relating to the parking ramp development are necessarily complex. The attached staff report should clarify exactly what the City Council/HRA Board will be dealing with on the 17th. You will be receiving the complete documentation several days prior to the meeting. In addition, staff will be present to respond to specific questions which you may have. In the meantime, if you have any major concerns, please contact me or Dick Broeker immediately. We have made every effort to tie together this development package as tight as possible in order to avoid last minute complications which could jeopardize the bond sale and the future development of the project. CC: Gary Stout Robert Hall James Hart Eugene Kraut Walter Bowser Albert Olson✓ Attachment �O . ��;HOI�SING AND REDEVELOPMENT AUTHORlTY OF THE CITY OF SAINT PAUL, MINNESOTA � . ST�FF REPOR'� REPORT TO THE COMMISSION.ERS DATE NOVEMBER 9, i9» R EG A R D I N G BLOCK A PARKING RAMP/RADISSON/OXFbRD DEVELOPMENT - This report summarizes the actions to be taken by the City Council and HRA goard at a special meeting of Thursday, November 17, 1977 at 9;30 a.m. Upon authorization to execute the various contracts and agreements noted below, the St. Paul Port Authority will proceed to finalize the sale of industrial revenue bonds for the Block A parking ramp on or about December 1, 1977 and construction will begin on the ramp and the Radisson Plaza Hotel on or about December 15, 1977, The City Council and HRA Board will consider the following agreements; 1. Fina1 Bond Issuance Resolution This will enahle the Port Authority to sell $5,000,000 in revenue bonds to fina�� construction of- the parking ramp. 2. Land Sale Contract between the Port Authority and the HRA The HRA wiZl sell groundrights for Block �, to th� Port Authority. The port Authority must have title to the land prior to the bond sale. 3. Land Sale Contract between HRA and the Joint Venture The HRA will se1Z air rights to the southern half of Block A to the Joint Venture who will develop the Radisson Plaza Hotel and retail space over the parking ramp. The northern half of Block A has beea sold by HRA (along with the block to the north of Block A known as Block 27} to Oxford Development on August 2, 1977. 4. Supplemental Agreement betwesn port Authority, HRA, Joint Venture and TI�ID This agreement binds the various parties to promptly perform their obligations as set £orth in otner agreemsnts so that the parking ramp wi1Z be built in a ; � f • ` page Two � timely manner and the hotel wf12 also be constructed over the ramp in a timely manner in accordance with the conditions set forth in this Supplemental Agree- ment. 5. Sublease of the Parking Ramp from TMD to the City - Upon constractiore of the parking ramp, the Poxt Authority will lease it to TNID, the "ahell" corporation which combines the Joint Venture and the construc- - tion contractor. TMD will, in turn, sublease the ramp to the City accordfng to the terms of the sublease. The City will operate the ramp for the benefit of the general public with net revenues being returned to the Port Authority to retire the bonded indebtedness. 6. Agreement between the port Authorit and the City regarding Extra Costs The City will cominit to reimburse the port Authority for extra costs to be incurred in the construction of the parking ramp resulting frocn the extra loads in the ra�p foundatzon which are necessary to provide adequate support for the City owned, public galleria space which will be constructed on the third IeveZ over the ramp and on top of the Oxford retail space. These costs are currently estimated to be approximately $171,000 and are part of the total cost of the galleria which was previously estimated at $5.9 million and was approved for construction by City Council Resolution No. CF 269499 which was adopted on August 2, 1977 at the same time the City Council also approved the land sale agreement with Oxford Properties. The Cit� wi21 reimburse the Port Authority for these extra costs upon substantial completion of the project, including both the ramp and the hotel, which is estimated to be about two years after the start of construction. • RENEWAL:RFH:jmh ,