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01-603ORIGINAL Council File # ��— G�3 Resolution # Green Sheet # 1��7� PAUL, Presented By Referred To ri•.' Committee: Date WI-�REAS, the Department of Platuung and Economic Development ("PED") is the activity manager for Fund 149 Downtown Capital Projects Fund; and 4 WE3EREAS, This Resolution, if approved, will increase the spending authority in Fund 149 by $1,660,000 to 5 $16,318,102 as shown in Eachibit A and as was requested by the Board of Commissioners of the Saint Paul 6 Housing and Redevelopment Authority in Resolution No. Ol-3/28-3 which is attached in E�ibit B; and 8 WHEREAS, the Mayor, pursuant to sec. 10.07.04 of the City of Saint Paul charter, does certify there are 9 available for appropriation revenues in the amount of $1,660,000 in excess of those estimated in the 2001 10 budget. 11 12 BE IT RESOLVED, that the City Council approves these changes in E�ibit A to the 2001 budget. Requested by Department of: Coleman Planninq & &conomic w Development By: _��J�r� ' f' � Adopted by Council: Date Porm Approved by City orney i _ � Adoption Certified by Counci'Y�Secretary By: By: s'n n q' �' pproved by Mayor for Submissi n�o Council Approved by Mayor: Date V�1� Of � By: Hy' � � I � G � ORIGINAL BUDGET AMENDMENT The City's 2001 Budget is amended as follows FINANCING PLAN 149-76900 TlF Eligi6le Projects 149-76900-G604-00000 Payment from HR4 on Note Interest 149-76900-6922-00000 Payment from HRA on Note Principal 149-76901 Non TIF Eligible 149-76901-6922-00000 Payment from HRA on Note Principal Total Financing Plan SPENDING PLAN 149-76900 TIF Eligible Projects 149-76900-0899-69128 Wabasha West 149-76900-0739-68036 Skyway Visitor Signage 149-76900-0299-68016 Professional services for powntown 149-76900-0739-68078 Dayton's Skyway 149-76900-0547-68076 Dayton's Store project-Renovation 149-76900-0547-68077 Dayton's Store project-Environmental Cleanup Sub-Total 749-76901 Non-TIF Eligible 149-76901-�547-68�88 Personnel Decisions International (PDI) 149-76901-0558-69106 ProjectAdministration-PED Sub-Total 149-76902 Pending Projects 149-76902-0547-68002 Pending Projects Total Spending Plan Current Budget 3,538,737 8,719,365 2,400,000 14,658,102 ExhibitA ��L03 Amended Changes Budget 3,538,737 1,660,000 10,379,365 2,400,000 1,660,000 16,318,102 825,000 1,500,000 2,325,000 450,000 450,000 100,000 160,000 260,000 208,102 208,102 6,300,000 6,300,000 1,500,000 1,500,000 9, 383,102 1,660, 000 11, 043,102 1,5�0,0�0 1,500,Q00 900,000 900,000 2,400,000 2,400,000 2,875,000 2,875,000 14,658,102 1,660,000 16,318,102 � DT1'ARTMENT/OFFICE/COUNCII.: DATE INITTATED GREEN SHEET No.• 102173 � Plauuing & Economic Dev. May 7, 2001 ' Ot �.e CONTAGT PERSON & PHONE: e17"E IINITTAL7IATL+ T.Meyer 6-�. Geurs 6-6653 � 3 DEP,�t Dm. � ci�counrcu. MIJST BE ON COUNCII. AGENDA BY (DATE) �Ir'N 5_ CLTY ATTORNEY 4 FAIANCIAL SERV/ACCfG 5/16/01 gpg BER 6 MAYOR (OR ASST.) I BOB GEURS ROU1'ING 2_T MEYER � 4 a� ORDER TOTAL # OF SIGNATURE PAGES _(CLIP ALL LOCATIONS FOR SIGNAT6RE) acrioN �QvES�rEn: Approval of Budget Resolufion increase for City Fund 149, Downtown Capital Project Fund, which is consistent with previous HRA Resolution Ol-3/28-3. RECOD�BdENDA1TONS: Approve (A) or Rejea (R) PERSONAI. SERVICE CONTRAGTS MUST ANSR'ER 1'HE FOLLOWING QUESTIONS: PLANNING COM�IISSION 1. Has this person/fivn ever worked under a contract for this deparhnent? CIB COMbIIT1'EE Yes No CIVIL SERVICE COMbIISSION 2. Hu this person/fi:m ever been a ciTy employee? Yes No 3. Does this persoNfim� possess a skill not nortnally possessed by any cu�rent city employee? Yes No Explain all yes aaswers on separate sheet aud atfach to green sheet INTf1ATIlVG PROBLEM, ISSUE, OPPORT'UNI'1'Y (Whq What, When, Where, Why): �pNV�:� [�1'�e+J�v?trP.r� � �1y�G� w..'"_ P1A1' � �� ADVANTAGESIFAPPROVED: Provides spending authority for various projects. DISADVANTAGES IF APPROVED: . None DISADVANTAGES IF NOT APPItOVED: TOTAL AMOUNT' OF TRANSACTION: $1,66Q000 COST/REVENUE BUDGETED: FUNDING SOUACE: ACTIVITY N[JMBER: 149-76900 FINANCIAL INFORMATION: (EXPI.AI� Paymenfs by HI2A on Subordinated Tas Increment Note. x�vsn�r«nr[n.v�c�,,,sn� w�yg.�azns asoezt waa °a I .- �X l��b��-13 ORIGINaL o�-�o� Housing and Redevelopment Authority of the City of Saint Paul, Minnesota CERTIFICATE OF RECORDING SECRETARY The undersigned hereby certifies as follows: That she is the duly appointed, qualified Assistant Secretary of the Housing and itedevelopment Authority of the City of Saint Paul, Minnesota, herein called the "Local Public Agency' ; 2. That the attached RESOLUTION NO. 01-3/28-3 is a true and correct copy of the resolution as adopted on the 28th day of March, 2001; 3. That the seal affixed below constitutes the official seal of the Local Public Agency and this Certificate is hereby executed under such official seal; and 4. That the undersigned is duly authorized to execute this Certificate. IN WITNESS WHEREOF, I have hereunto set my hand and the seal of the said Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, this 29th day of March, 2001, C �� 1`�""�'�C{'ti�r/i� — A istant Secretary Sponsor: r Bostrom RESOLUTION NO. 0'13/28-3 RESOLUTION AMENDING HRA 2001 BUDGET 70 SATISFY CERTAIN S7ATE LAW TAX INCREMENT REQUIREMENTS FOR THE DOWN70WN AND SEVENTH PLACE DISTRICT # 82 AND # 24. WHEREAS, the Housing and Redevelopment Authority of the Ciry of Saint Paul is requlred to satisfy MN Statute 149.176 Subd.ic. regardtng duration timits of pre-'1979 tax increment financing distrids. THEREFORE, BE IT RESOLVED, that the 2001 HRA Budget Is ame�ded as follows: - HRA DOWNTOWN AND SEVENTH PLACE TAX INCREMENT DISTRICT # 82 824 FINANCING PLAN Current Budget Use of Fund Balance '148-76801-9890 436,761.00 14&76802-9890 29,050.65 14&768059890 13,415,000.00 Total Financing Plan 13,880,811.65 SPENDING PLAN Professional Services tA8-76801-0299-G8016 Downtown Parking 148-76801-0739-68023 Parking/Skyway Usitor Signage 148-7680 7 -0739-68036 James J Hill Library 1148-76801-0739-6804'I Landmark Project 14&76802-0739-68035 Downtown Parking Program 148-76805-0739-68023 Project Administration '148-76805-0558-69706 Smith Avenue Projed '148-76805-0299-69129 Gontribution for ArmsVOng Hause Project '148-76805-0545-69130 Ramsey County Administration '148-70805-0299-69131 Wabasha Development 148-76805-0547•69132 Sixth SVeet Skyway 748-76805-0899-69133 World Trade Center Reserve '148-76805-0547-69134 Transfer to Fund 139-86343l86334 148-76805-0560-69125 (Dayton's ,PDf , CDBG Float Loan) Total Spending Plan 197,462.00 199,000.00 18,235.00 22,064.00 29,050.65 200,000.00 1,850,000.00 50,000.00 350,000.00 15,000.00 500,000.00 650,000.00 500,000.00 9,300,000.00 �3,880,811.65 Change (53,203.34) 028 (557,256.00) (6�0,459.06) (A0,504.59) 5,535.83 (18235.00) 0.42 028 (200,000.00) 15,870.61 (30,000.00) (107,181.30) 10,10524 (500,000.00) (650,000.00) (500,000.00) 1,403,949.45 (670,459.06) b\��.0'J Amended Budget 383,557.66 29,050.93 12,857,744.00 13,27U,352.59 156,957.41 204,535.83 0.00 22,064.42 29,050.93 0.00 '1,865,870.61 20,000.00 242,8�8.70 25,10524 0.00 0.00 0.00 10,703,949.45 '13,270,352.59 YEAR 2001 HRA BUDGET AMENDMENT HRA DEBT SERVICE FUND # 139 Curtent Budget Downfown TIF Revenue Bonds, Series 1998 (139-86334) Financing Plan . Transfer from HRA Tax Increment Fund # 148 13&86334-7306 0.00 Tax Inaements g,242,146.18 '139-86334-1030 Hotel Motel Tax 139-86334-1401 220,000.00 Fund Balance g09,701.82 'I3&86334-9890 �nterest Eamings 0.00 139-So334-6602 Transfer from Fund 117(Baliroom Loan Repayments) 0.00 Total Financing 9,371,848.00 Spending Plan Intra-fund Transfer to 139-86326 (CDBG Float) '13&86334-0799 768,750.00 Intra-fund Transfer to 13&86343-0799 (Subordinated Note) 139-86334-0799 5,358,702.00 Downtown TIF Revenue Bonds, Series 1998 139-86334-0611 Interest 1,184,996.00 139-86334-0627 Principal 2,060,000.00 Total Spend(ng 9,371,848.00 CDBG Float Loan ('139-56326) F(nancing Plan Intra-fund Transfer from 139-86334 for CDBG Float Loan "139-86326-7499 768,750.00 Total Financing 768,750.00 Spendtng Pian CDBG Float Loan �3386326-0629 (Inciudes 5780,000 for Super Block/ 768,750.00 Fannie Mae Loan) Total Spending 768,750.00 Downtown Subordinated TI Revenue Note (139-86343) Financing Plan Intra -fund Transfer from 73486334 139•86334-7499 5,358,102.00 Transfer from Fund 148-76805 139•86343-7306 9,300,000.00 ToWI Ffnancing 14,658,102.00 Spending Plan Transfer to Fund 149-76900 Payment to City Subordinated Note -Interest 139•86343-0619 (Original Budget) 3,538,737.00 Payment to Ciry Subordinated Note -Principal 13486343-0629 (Original Budgetj 1,819.365.00 Payment to City Subordinated Note -Principai 139•86343-0629 Dayton's Project 7,800,000.00 Payment to City Subordinated Note -Principal 139•86343-0629 ( Wabasha West Improvements/ 0.00 North Quadrant Improvements) Payment to Ciry Subordinated Note -Principai �39-86343-0629 (Professionai Services) 0.00 Transferto Fund 149-76901 Paymen[ to City Subordinated Note -Principal 139-86343-0629 (PDI Project) 1,500,000.00 Total Spendfng 14,658,102.00 RESOLll710N NO. 01 Change 1,403,949-45 2257,853.82 0.00 0.00 277.fi65.73 238,273.00 4,'177,742.00 2,511,250.00 1,666,492.00 4,177,742.00 2,571,250.00 2,511,250.00 2,511250.00 2,511,250.00 1,660,000.00 0.00 'I,660,000.00 0.00 0.00 1,500,000.00 160,000.00 0.00 1,660,000.00 61-60� Amended Budget 1,403,949.45 10,500,000.00 220,000.00 909.7�1.82 277,665.73 238273.00 13,549,590.00 3,280,000.00 7,024,594.00 1,184,996.00 2,060,000.00 13,549,590.00 3,280,000.00 3,280,000.00 3,280,000.00 3,280,000.00 7,018,102.00 9,300,000.00 1b,318,102.00 3,538,737.00 1,819,365.00 7,800,000.00 1,500,000.00 160,000.00 1,500,000.00 16,316,102.00 � G►-�o HOUSING AND REDEVELOPMENT AUTHORITY OFTHE CITY OF SAINT PAUL, MINNESOTA REPORT TO THE COMMISSIONERS DATE MARCH 28, 2001 RESOLUTION AMENDING HRA 2001 BUDGET TO SATSSFY CEFiTA{N STATE LAW TAX INCREMENT STATUTE REQUIREMENTS FOR THE DOWNTOWN AND SEVENTH PLACE DISTRICT #82 AND #24 (DISTRICT 17) Purpose Technical Budget Resolution to satisfy State law requirement that after April l, 2001 tac increment may only be us�d for debt obligations for po�rvtown and Seventh Place District. Background As of 1990, there existed three debt obligations associated�vith the District: (I) CDBG Float Loan, (2) Downtown TIF Bonds, and (3) Ta�cable Subordinated I�Tote. The attached resolution moves remaining TIF Fund Balance and loan repayments (in Fund 148) to HRA Debt Ser�ice Fund (Fund 139) to either pay do�vn CDBG obligation or the Taxable Subordinated Note (which is budgeted in Fund 149). The net result of the attached resolution will allo�v paying down an additional �2,511,250 of the existing CDBG obligation with TIF. The resolution r•✓ilJ-al.seallrnv the HRt1 to provide funding for a previousi ard a,�proved North Quadrant Housins project by indirectl fun�dinr�s �i,_'r��.�,p„hlic imDrovements this sorinQ usin4 +he Subordmated Note and Funa i�7. _ . . .. . . _ _ __ __ ___._.._.. .,.,.,� f„r h<, T'rF «•�11 atso be funded from Fund 149. �--- A copy of the State law requirements is attached in E�chbit A. HRA Resolution The HRA Executive Director recommends the attached Budget Resolution. Staff: Bob Geurs Tom Meyer Department Accountant Sponsor: Chair Bostrom �x�,�l� 6�-`00 {4 fi� �`I�P1��E- �m�+,kr*rr � ��,z � �'z`� , � �Subd..lc. Dur'ation�limits;`pre-1979 �districfs. Por fax irioreriie created�nor to AugusE 1,1979, no tax incibingnt shall be paid to tfie a 2001, or the term of a nondefeased bond oi qbligatitin; ouutanding on E by increments from the district or project area, whichever tiine is greaG case Will atax incrementbepaid to aii authority afterAugust 1,'2009; fr distriot"s termination dateis extendedbeyond April l; 2001,becansetic �'` 1 0'th 'aturides extending beyond April l, 2001, the : fmancing districts iority after Aprii l, ri11;1990, secured provided that in no Zsuchadistrict.Ifa restrictioas on Apnl l•, 99 , wi m apply: �19 increment coller'rPd from the_district may be e�nded after April 1, 2001, except to pay or defease (i) bonds issued before Apni 1,1994, or (u) hon s issu to refund the prin- cipal of the outstanding bonds andpay associated issuance costs, provided the avenge matu- rity of the refunding bonds does not ezceed the bonds refunded. . •- a �-c.a� RESOLUTiON N0. 01-3/28-3 RESOLUTION AMENDING HRA 2001 BUDGET TO SA7ISFY CERTAIN STATE LAW TAX INCREMENT REQUIREMENiS FOR THE DOWN70WN AND SEVENTH PLACE DISTWC71t 82 AND # 24. WHEREAS, the Housing and Redevelopment Authority of the City of Salnt Paul Is required to satisfy MN Statute 749.176 Subd.te, regardfng durdtlon Iimits of pre-0979 Yarz inuement flnancing districts. THEREFORE, BE ff RESOLVED, that fhe 2001 HRA Budget Is amended as foilows: • HRA DOWNTOWN AND SEVENTH PLACE TAX iNCREMEt3T D1SSRlCT # 82 $. 24 PINANCING PLAN Current Budget lSse of Fund Baiance 436,761.00 '14&76801-9890 p9,050.65 74&76802-9890 �3,415,000.00 14&76805-9890 Total Flnancing Plan 13,880,811.65 SPENDING PLAN Professional Services 74&76801-029368016 Dawntown Parking 148-76801-0739-68023 ParkinglSkyway VsitorSignage 148-76807-0739-68036 James J Hill Library 1148-76801-0739-68041 Landmark Prqect 148-76802-0739-68035 Downtown Parking Program 14&76805-0739-68023 project AdminisVation 148-76805-0558-69t06 Smith Avenue Project 148-76805-0299�9129 Contribution for ArmsVOng House Projed 148-76805-0545-69130 Ramsey Counry Administration 148-76805-0299-69137 Wabasha Oevetopment 148-768050547-69132 Sizth Street Skyway 148•768050899-69133 World Trade Center Reserve 1A8-76805-0547-69134 7ransfer to Fund 13&86343/86334 1A&76805-0560-69127 (Dayton's ,PDI , CDBG Float Loan) Total Spending Plan 197,462.00 199,000.00 18,235.00 22,Ofi4.00 29,050.65 200,000.00 1,850,000.00 50,GJO.GO 350,000.00 75,000.00 500,000.00 650,000.00 500,000.00 9,300,000.00 13,880,811.65 Change (53,203.34j 028 (557,256.00) (610,459.06) (40,504.59) 5,535.83 (18235.00) 0.42 028 (200,000.00) 15,870.61 (30,000.00) (107,181.30) 10,10524 (500,000.00) (650,000.00) (500,000.00) 1,403,949.45 (610,459.06) Amended Budget 383,557.66 29,050.93 12,857.744.00 13,270,352.59 156�957.45 204,535.83 0.�0 22,064.42 29,050.93 0.00 1,865,870.61 20,000.00 242.818.70 25,10524 0.00 0.00 0.00 1�,703,959.45 13,270,352.59 YEAR 2001 HRA BUDGET AMENDMENT HRA DEBT SERVICE FUND # 139 Current Budget Downtown TIF Revenue Bonds, SeAes 1998 (139A6334) Finandng Plan Transfer from HRA Tar inaement Fund # 148 139-86334-7306 0.00 Taz Inaements 139-86334-1030 8.242.146.18 Hotei Motei Tax t39-86334-1401 220,000.00 Fu�d Balance 139-86334-9890 909,701.82 interest Eamings 0.00 '139-86334-6602 7ransfer from Fund 557(Baliroom Loan Repayments) 0.00 7otai Financing 9,371,848.00 Spending Plan InVa-fund Transfer to 139-86326 (CDBG Float) 139-863340799 768,750.00 InVa-tund Transfer W 139-86343-0799 (Subordinated Note) 13&86334-0799 5,358,102.00 Drnmtown Tlr Revenue Bonds, Series 1998 13&86334-0611 Interest 1,184,996.00 139-86334-0621 Principal 2,060,000.00 Total Spending 9,371,848.00 CDBG Float Loan (139-86326) Financing Plan Intra-Nnd Transfer from 139-86334 for CDBG Float Loan 139-8632&7499 768,750.00 Total Finaneing 768,750.00 Spending Plan COBG Flozt Loan �3486326-Oo29 (InduZes 5780,000 for Super Block! 768,750.00 Fannie Mae Loan) Total Spending 768,750.00 Downtown Subordinated TI Revenue Note (139-86343) Financing Plan Intra -fund Trensfer from 139-56334 5,358,102.00 739-8"v334-7499 Transfer hom Fund 14&76805 139-86343-7306 9,300,000.00 Total Flnancing �4,658,102.00 Spending Plan Transfer W Fund 149-76900 Payment to City Subordinated Note -Interest 13&86343-0619 (Original Budget) 3,538,731.00 Payment to City Subordinated Note -Principal 139-86343-0629 (Original Budget) 7,819.365.00 Payment to Ciry Suhordinated Note -Principal 13&86343-0629 Dayton's Project 7,800,000.00 Payment to City Subordinated Note -Principai O.QO 139-86343-0629 ( Wabasha Westtmprovements! North Quadrant ImprovemenGS) Payment to City Subordinated Note -Principa� 13386343-0629 (Professional Services) 0.00 Trensfer to Fund 149-76901 Payment to City Subordinated Note -Prindpai 139-86343-0629 (PDI Project) 1,500.000.00 Total Spending 14,658,102.00 RESOlUT10N N0. 01-3f28-3 Change 1,403,949.45 2.257.853.82 0.00 0.00 277,665.73 238273.00 4,177,742.00 2,511250.00 1,666,492.00 4,177,742.00 2,511,250.00 2,511,250.00 2,511250.00 2,511,250.00 1,660,000.00 0.00 1,660,000.00 0.00 0.00 �,soo,000.00 760,000.00 0.00 1,660,000.00 Amended Budget 1,403,949.45 10,500,000.00 220,000.00 909.701.82 277,665.73 238,273.00 13,549,59D.00 3,280,000.00 7,024,594.00 1,184,996.09 2,060,000.00 13,549,590.00 3,280,000.00 3,280,000.00 3280,000.00 3,280,000.00 7,018,102.00 9,300,000.00 16,318,102.00 3.538,737.00 t,819,365.00 7,800,000.00 1,500,000.00 160.00Q.00 1,500,000.00 16,318,102.00 Ol-(.03 � � ORIGINAL Council File # ��— G�3 Resolution # Green Sheet # 1��7� PAUL, Presented By Referred To ri•.' Committee: Date WI-�REAS, the Department of Platuung and Economic Development ("PED") is the activity manager for Fund 149 Downtown Capital Projects Fund; and 4 WE3EREAS, This Resolution, if approved, will increase the spending authority in Fund 149 by $1,660,000 to 5 $16,318,102 as shown in Eachibit A and as was requested by the Board of Commissioners of the Saint Paul 6 Housing and Redevelopment Authority in Resolution No. Ol-3/28-3 which is attached in E�ibit B; and 8 WHEREAS, the Mayor, pursuant to sec. 10.07.04 of the City of Saint Paul charter, does certify there are 9 available for appropriation revenues in the amount of $1,660,000 in excess of those estimated in the 2001 10 budget. 11 12 BE IT RESOLVED, that the City Council approves these changes in E�ibit A to the 2001 budget. Requested by Department of: Coleman Planninq & &conomic w Development By: _��J�r� ' f' � Adopted by Council: Date Porm Approved by City orney i _ � Adoption Certified by Counci'Y�Secretary By: By: s'n n q' �' pproved by Mayor for Submissi n�o Council Approved by Mayor: Date V�1� Of � By: Hy' � � I � G � ORIGINAL BUDGET AMENDMENT The City's 2001 Budget is amended as follows FINANCING PLAN 149-76900 TlF Eligi6le Projects 149-76900-G604-00000 Payment from HR4 on Note Interest 149-76900-6922-00000 Payment from HRA on Note Principal 149-76901 Non TIF Eligible 149-76901-6922-00000 Payment from HRA on Note Principal Total Financing Plan SPENDING PLAN 149-76900 TIF Eligible Projects 149-76900-0899-69128 Wabasha West 149-76900-0739-68036 Skyway Visitor Signage 149-76900-0299-68016 Professional services for powntown 149-76900-0739-68078 Dayton's Skyway 149-76900-0547-68076 Dayton's Store project-Renovation 149-76900-0547-68077 Dayton's Store project-Environmental Cleanup Sub-Total 749-76901 Non-TIF Eligible 149-76901-�547-68�88 Personnel Decisions International (PDI) 149-76901-0558-69106 ProjectAdministration-PED Sub-Total 149-76902 Pending Projects 149-76902-0547-68002 Pending Projects Total Spending Plan Current Budget 3,538,737 8,719,365 2,400,000 14,658,102 ExhibitA ��L03 Amended Changes Budget 3,538,737 1,660,000 10,379,365 2,400,000 1,660,000 16,318,102 825,000 1,500,000 2,325,000 450,000 450,000 100,000 160,000 260,000 208,102 208,102 6,300,000 6,300,000 1,500,000 1,500,000 9, 383,102 1,660, 000 11, 043,102 1,5�0,0�0 1,500,Q00 900,000 900,000 2,400,000 2,400,000 2,875,000 2,875,000 14,658,102 1,660,000 16,318,102 � DT1'ARTMENT/OFFICE/COUNCII.: DATE INITTATED GREEN SHEET No.• 102173 � Plauuing & Economic Dev. May 7, 2001 ' Ot �.e CONTAGT PERSON & PHONE: e17"E IINITTAL7IATL+ T.Meyer 6-�. Geurs 6-6653 � 3 DEP,�t Dm. � ci�counrcu. MIJST BE ON COUNCII. AGENDA BY (DATE) �Ir'N 5_ CLTY ATTORNEY 4 FAIANCIAL SERV/ACCfG 5/16/01 gpg BER 6 MAYOR (OR ASST.) I BOB GEURS ROU1'ING 2_T MEYER � 4 a� ORDER TOTAL # OF SIGNATURE PAGES _(CLIP ALL LOCATIONS FOR SIGNAT6RE) acrioN �QvES�rEn: Approval of Budget Resolufion increase for City Fund 149, Downtown Capital Project Fund, which is consistent with previous HRA Resolution Ol-3/28-3. RECOD�BdENDA1TONS: Approve (A) or Rejea (R) PERSONAI. SERVICE CONTRAGTS MUST ANSR'ER 1'HE FOLLOWING QUESTIONS: PLANNING COM�IISSION 1. Has this person/fivn ever worked under a contract for this deparhnent? CIB COMbIIT1'EE Yes No CIVIL SERVICE COMbIISSION 2. Hu this person/fi:m ever been a ciTy employee? Yes No 3. Does this persoNfim� possess a skill not nortnally possessed by any cu�rent city employee? Yes No Explain all yes aaswers on separate sheet aud atfach to green sheet INTf1ATIlVG PROBLEM, ISSUE, OPPORT'UNI'1'Y (Whq What, When, Where, Why): �pNV�:� [�1'�e+J�v?trP.r� � �1y�G� w..'"_ P1A1' � �� ADVANTAGESIFAPPROVED: Provides spending authority for various projects. DISADVANTAGES IF APPROVED: . None DISADVANTAGES IF NOT APPItOVED: TOTAL AMOUNT' OF TRANSACTION: $1,66Q000 COST/REVENUE BUDGETED: FUNDING SOUACE: ACTIVITY N[JMBER: 149-76900 FINANCIAL INFORMATION: (EXPI.AI� Paymenfs by HI2A on Subordinated Tas Increment Note. x�vsn�r«nr[n.v�c�,,,sn� w�yg.�azns asoezt waa °a I .- �X l��b��-13 ORIGINaL o�-�o� Housing and Redevelopment Authority of the City of Saint Paul, Minnesota CERTIFICATE OF RECORDING SECRETARY The undersigned hereby certifies as follows: That she is the duly appointed, qualified Assistant Secretary of the Housing and itedevelopment Authority of the City of Saint Paul, Minnesota, herein called the "Local Public Agency' ; 2. That the attached RESOLUTION NO. 01-3/28-3 is a true and correct copy of the resolution as adopted on the 28th day of March, 2001; 3. That the seal affixed below constitutes the official seal of the Local Public Agency and this Certificate is hereby executed under such official seal; and 4. That the undersigned is duly authorized to execute this Certificate. IN WITNESS WHEREOF, I have hereunto set my hand and the seal of the said Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, this 29th day of March, 2001, C �� 1`�""�'�C{'ti�r/i� — A istant Secretary Sponsor: r Bostrom RESOLUTION NO. 0'13/28-3 RESOLUTION AMENDING HRA 2001 BUDGET 70 SATISFY CERTAIN S7ATE LAW TAX INCREMENT REQUIREMENTS FOR THE DOWN70WN AND SEVENTH PLACE DISTRICT # 82 AND # 24. WHEREAS, the Housing and Redevelopment Authority of the Ciry of Saint Paul is requlred to satisfy MN Statute 149.176 Subd.ic. regardtng duration timits of pre-'1979 tax increment financing distrids. THEREFORE, BE IT RESOLVED, that the 2001 HRA Budget Is ame�ded as follows: - HRA DOWNTOWN AND SEVENTH PLACE TAX INCREMENT DISTRICT # 82 824 FINANCING PLAN Current Budget Use of Fund Balance '148-76801-9890 436,761.00 14&76802-9890 29,050.65 14&768059890 13,415,000.00 Total Financing Plan 13,880,811.65 SPENDING PLAN Professional Services tA8-76801-0299-G8016 Downtown Parking 148-76801-0739-68023 Parking/Skyway Usitor Signage 148-7680 7 -0739-68036 James J Hill Library 1148-76801-0739-6804'I Landmark Project 14&76802-0739-68035 Downtown Parking Program 148-76805-0739-68023 Project Administration '148-76805-0558-69706 Smith Avenue Projed '148-76805-0299-69129 Gontribution for ArmsVOng Hause Project '148-76805-0545-69130 Ramsey County Administration '148-70805-0299-69131 Wabasha Development 148-76805-0547•69132 Sixth SVeet Skyway 748-76805-0899-69133 World Trade Center Reserve '148-76805-0547-69134 Transfer to Fund 139-86343l86334 148-76805-0560-69125 (Dayton's ,PDf , CDBG Float Loan) Total Spending Plan 197,462.00 199,000.00 18,235.00 22,064.00 29,050.65 200,000.00 1,850,000.00 50,000.00 350,000.00 15,000.00 500,000.00 650,000.00 500,000.00 9,300,000.00 �3,880,811.65 Change (53,203.34) 028 (557,256.00) (6�0,459.06) (A0,504.59) 5,535.83 (18235.00) 0.42 028 (200,000.00) 15,870.61 (30,000.00) (107,181.30) 10,10524 (500,000.00) (650,000.00) (500,000.00) 1,403,949.45 (670,459.06) b\��.0'J Amended Budget 383,557.66 29,050.93 12,857,744.00 13,27U,352.59 156,957.41 204,535.83 0.00 22,064.42 29,050.93 0.00 '1,865,870.61 20,000.00 242,8�8.70 25,10524 0.00 0.00 0.00 10,703,949.45 '13,270,352.59 YEAR 2001 HRA BUDGET AMENDMENT HRA DEBT SERVICE FUND # 139 Curtent Budget Downfown TIF Revenue Bonds, Series 1998 (139-86334) Financing Plan . Transfer from HRA Tax Increment Fund # 148 13&86334-7306 0.00 Tax Inaements g,242,146.18 '139-86334-1030 Hotel Motel Tax 139-86334-1401 220,000.00 Fund Balance g09,701.82 'I3&86334-9890 �nterest Eamings 0.00 139-So334-6602 Transfer from Fund 117(Baliroom Loan Repayments) 0.00 Total Financing 9,371,848.00 Spending Plan Intra-fund Transfer to 139-86326 (CDBG Float) '13&86334-0799 768,750.00 Intra-fund Transfer to 13&86343-0799 (Subordinated Note) 139-86334-0799 5,358,702.00 Downtown TIF Revenue Bonds, Series 1998 139-86334-0611 Interest 1,184,996.00 139-86334-0627 Principal 2,060,000.00 Total Spend(ng 9,371,848.00 CDBG Float Loan ('139-56326) F(nancing Plan Intra-fund Transfer from 139-86334 for CDBG Float Loan "139-86326-7499 768,750.00 Total Financing 768,750.00 Spendtng Pian CDBG Float Loan �3386326-0629 (Inciudes 5780,000 for Super Block/ 768,750.00 Fannie Mae Loan) Total Spending 768,750.00 Downtown Subordinated TI Revenue Note (139-86343) Financing Plan Intra -fund Transfer from 73486334 139•86334-7499 5,358,102.00 Transfer from Fund 148-76805 139•86343-7306 9,300,000.00 ToWI Ffnancing 14,658,102.00 Spending Plan Transfer to Fund 149-76900 Payment to City Subordinated Note -Interest 139•86343-0619 (Original Budget) 3,538,737.00 Payment to Ciry Subordinated Note -Principal 13486343-0629 (Original Budgetj 1,819.365.00 Payment to City Subordinated Note -Principai 139•86343-0629 Dayton's Project 7,800,000.00 Payment to City Subordinated Note -Principal 139•86343-0629 ( Wabasha West Improvements/ 0.00 North Quadrant Improvements) Payment to Ciry Subordinated Note -Principai �39-86343-0629 (Professionai Services) 0.00 Transferto Fund 149-76901 Paymen[ to City Subordinated Note -Principal 139-86343-0629 (PDI Project) 1,500,000.00 Total Spendfng 14,658,102.00 RESOLll710N NO. 01 Change 1,403,949-45 2257,853.82 0.00 0.00 277.fi65.73 238,273.00 4,'177,742.00 2,511,250.00 1,666,492.00 4,177,742.00 2,571,250.00 2,511,250.00 2,511250.00 2,511,250.00 1,660,000.00 0.00 'I,660,000.00 0.00 0.00 1,500,000.00 160,000.00 0.00 1,660,000.00 61-60� Amended Budget 1,403,949.45 10,500,000.00 220,000.00 909.7�1.82 277,665.73 238273.00 13,549,590.00 3,280,000.00 7,024,594.00 1,184,996.00 2,060,000.00 13,549,590.00 3,280,000.00 3,280,000.00 3,280,000.00 3,280,000.00 7,018,102.00 9,300,000.00 1b,318,102.00 3,538,737.00 1,819,365.00 7,800,000.00 1,500,000.00 160,000.00 1,500,000.00 16,316,102.00 � G►-�o HOUSING AND REDEVELOPMENT AUTHORITY OFTHE CITY OF SAINT PAUL, MINNESOTA REPORT TO THE COMMISSIONERS DATE MARCH 28, 2001 RESOLUTION AMENDING HRA 2001 BUDGET TO SATSSFY CEFiTA{N STATE LAW TAX INCREMENT STATUTE REQUIREMENTS FOR THE DOWNTOWN AND SEVENTH PLACE DISTRICT #82 AND #24 (DISTRICT 17) Purpose Technical Budget Resolution to satisfy State law requirement that after April l, 2001 tac increment may only be us�d for debt obligations for po�rvtown and Seventh Place District. Background As of 1990, there existed three debt obligations associated�vith the District: (I) CDBG Float Loan, (2) Downtown TIF Bonds, and (3) Ta�cable Subordinated I�Tote. The attached resolution moves remaining TIF Fund Balance and loan repayments (in Fund 148) to HRA Debt Ser�ice Fund (Fund 139) to either pay do�vn CDBG obligation or the Taxable Subordinated Note (which is budgeted in Fund 149). The net result of the attached resolution will allo�v paying down an additional �2,511,250 of the existing CDBG obligation with TIF. The resolution r•✓ilJ-al.seallrnv the HRt1 to provide funding for a previousi ard a,�proved North Quadrant Housins project by indirectl fun�dinr�s �i,_'r��.�,p„hlic imDrovements this sorinQ usin4 +he Subordmated Note and Funa i�7. _ . . .. . . _ _ __ __ ___._.._.. .,.,.,� f„r h<, T'rF «•�11 atso be funded from Fund 149. �--- A copy of the State law requirements is attached in E�chbit A. HRA Resolution The HRA Executive Director recommends the attached Budget Resolution. Staff: Bob Geurs Tom Meyer Department Accountant Sponsor: Chair Bostrom �x�,�l� 6�-`00 {4 fi� �`I�P1��E- �m�+,kr*rr � ��,z � �'z`� , � �Subd..lc. Dur'ation�limits;`pre-1979 �districfs. Por fax irioreriie created�nor to AugusE 1,1979, no tax incibingnt shall be paid to tfie a 2001, or the term of a nondefeased bond oi qbligatitin; ouutanding on E by increments from the district or project area, whichever tiine is greaG case Will atax incrementbepaid to aii authority afterAugust 1,'2009; fr distriot"s termination dateis extendedbeyond April l; 2001,becansetic �'` 1 0'th 'aturides extending beyond April l, 2001, the : fmancing districts iority after Aprii l, ri11;1990, secured provided that in no Zsuchadistrict.Ifa restrictioas on Apnl l•, 99 , wi m apply: �19 increment coller'rPd from the_district may be e�nded after April 1, 2001, except to pay or defease (i) bonds issued before Apni 1,1994, or (u) hon s issu to refund the prin- cipal of the outstanding bonds andpay associated issuance costs, provided the avenge matu- rity of the refunding bonds does not ezceed the bonds refunded. . •- a �-c.a� RESOLUTiON N0. 01-3/28-3 RESOLUTION AMENDING HRA 2001 BUDGET TO SA7ISFY CERTAIN STATE LAW TAX INCREMENT REQUIREMENiS FOR THE DOWN70WN AND SEVENTH PLACE DISTWC71t 82 AND # 24. WHEREAS, the Housing and Redevelopment Authority of the City of Salnt Paul Is required to satisfy MN Statute 749.176 Subd.te, regardfng durdtlon Iimits of pre-0979 Yarz inuement flnancing districts. THEREFORE, BE ff RESOLVED, that fhe 2001 HRA Budget Is amended as foilows: • HRA DOWNTOWN AND SEVENTH PLACE TAX iNCREMEt3T D1SSRlCT # 82 $. 24 PINANCING PLAN Current Budget lSse of Fund Baiance 436,761.00 '14&76801-9890 p9,050.65 74&76802-9890 �3,415,000.00 14&76805-9890 Total Flnancing Plan 13,880,811.65 SPENDING PLAN Professional Services 74&76801-029368016 Dawntown Parking 148-76801-0739-68023 ParkinglSkyway VsitorSignage 148-76807-0739-68036 James J Hill Library 1148-76801-0739-68041 Landmark Prqect 148-76802-0739-68035 Downtown Parking Program 14&76805-0739-68023 project AdminisVation 148-76805-0558-69t06 Smith Avenue Project 148-76805-0299�9129 Contribution for ArmsVOng House Projed 148-76805-0545-69130 Ramsey Counry Administration 148-76805-0299-69137 Wabasha Oevetopment 148-768050547-69132 Sizth Street Skyway 148•768050899-69133 World Trade Center Reserve 1A8-76805-0547-69134 7ransfer to Fund 13&86343/86334 1A&76805-0560-69127 (Dayton's ,PDI , CDBG Float Loan) Total Spending Plan 197,462.00 199,000.00 18,235.00 22,Ofi4.00 29,050.65 200,000.00 1,850,000.00 50,GJO.GO 350,000.00 75,000.00 500,000.00 650,000.00 500,000.00 9,300,000.00 13,880,811.65 Change (53,203.34j 028 (557,256.00) (610,459.06) (40,504.59) 5,535.83 (18235.00) 0.42 028 (200,000.00) 15,870.61 (30,000.00) (107,181.30) 10,10524 (500,000.00) (650,000.00) (500,000.00) 1,403,949.45 (610,459.06) Amended Budget 383,557.66 29,050.93 12,857.744.00 13,270,352.59 156�957.45 204,535.83 0.�0 22,064.42 29,050.93 0.00 1,865,870.61 20,000.00 242.818.70 25,10524 0.00 0.00 0.00 1�,703,959.45 13,270,352.59 YEAR 2001 HRA BUDGET AMENDMENT HRA DEBT SERVICE FUND # 139 Current Budget Downtown TIF Revenue Bonds, SeAes 1998 (139A6334) Finandng Plan Transfer from HRA Tar inaement Fund # 148 139-86334-7306 0.00 Taz Inaements 139-86334-1030 8.242.146.18 Hotei Motei Tax t39-86334-1401 220,000.00 Fu�d Balance 139-86334-9890 909,701.82 interest Eamings 0.00 '139-86334-6602 7ransfer from Fund 557(Baliroom Loan Repayments) 0.00 7otai Financing 9,371,848.00 Spending Plan InVa-fund Transfer to 139-86326 (CDBG Float) 139-863340799 768,750.00 InVa-tund Transfer W 139-86343-0799 (Subordinated Note) 13&86334-0799 5,358,102.00 Drnmtown Tlr Revenue Bonds, Series 1998 13&86334-0611 Interest 1,184,996.00 139-86334-0621 Principal 2,060,000.00 Total Spending 9,371,848.00 CDBG Float Loan (139-86326) Financing Plan Intra-Nnd Transfer from 139-86334 for CDBG Float Loan 139-8632&7499 768,750.00 Total Finaneing 768,750.00 Spending Plan COBG Flozt Loan �3486326-Oo29 (InduZes 5780,000 for Super Block! 768,750.00 Fannie Mae Loan) Total Spending 768,750.00 Downtown Subordinated TI Revenue Note (139-86343) Financing Plan Intra -fund Trensfer from 139-56334 5,358,102.00 739-8"v334-7499 Transfer hom Fund 14&76805 139-86343-7306 9,300,000.00 Total Flnancing �4,658,102.00 Spending Plan Transfer W Fund 149-76900 Payment to City Subordinated Note -Interest 13&86343-0619 (Original Budget) 3,538,731.00 Payment to City Subordinated Note -Principal 139-86343-0629 (Original Budget) 7,819.365.00 Payment to Ciry Suhordinated Note -Principal 13&86343-0629 Dayton's Project 7,800,000.00 Payment to City Subordinated Note -Principai O.QO 139-86343-0629 ( Wabasha Westtmprovements! North Quadrant ImprovemenGS) Payment to City Subordinated Note -Principa� 13386343-0629 (Professional Services) 0.00 Trensfer to Fund 149-76901 Payment to City Subordinated Note -Prindpai 139-86343-0629 (PDI Project) 1,500.000.00 Total Spending 14,658,102.00 RESOlUT10N N0. 01-3f28-3 Change 1,403,949.45 2.257.853.82 0.00 0.00 277,665.73 238273.00 4,177,742.00 2,511250.00 1,666,492.00 4,177,742.00 2,511,250.00 2,511,250.00 2,511250.00 2,511,250.00 1,660,000.00 0.00 1,660,000.00 0.00 0.00 �,soo,000.00 760,000.00 0.00 1,660,000.00 Amended Budget 1,403,949.45 10,500,000.00 220,000.00 909.701.82 277,665.73 238,273.00 13,549,59D.00 3,280,000.00 7,024,594.00 1,184,996.09 2,060,000.00 13,549,590.00 3,280,000.00 3,280,000.00 3280,000.00 3,280,000.00 7,018,102.00 9,300,000.00 16,318,102.00 3.538,737.00 t,819,365.00 7,800,000.00 1,500,000.00 160.00Q.00 1,500,000.00 16,318,102.00 Ol-(.03 � � ORIGINAL Council File # ��— G�3 Resolution # Green Sheet # 1��7� PAUL, Presented By Referred To ri•.' Committee: Date WI-�REAS, the Department of Platuung and Economic Development ("PED") is the activity manager for Fund 149 Downtown Capital Projects Fund; and 4 WE3EREAS, This Resolution, if approved, will increase the spending authority in Fund 149 by $1,660,000 to 5 $16,318,102 as shown in Eachibit A and as was requested by the Board of Commissioners of the Saint Paul 6 Housing and Redevelopment Authority in Resolution No. Ol-3/28-3 which is attached in E�ibit B; and 8 WHEREAS, the Mayor, pursuant to sec. 10.07.04 of the City of Saint Paul charter, does certify there are 9 available for appropriation revenues in the amount of $1,660,000 in excess of those estimated in the 2001 10 budget. 11 12 BE IT RESOLVED, that the City Council approves these changes in E�ibit A to the 2001 budget. Requested by Department of: Coleman Planninq & &conomic w Development By: _��J�r� ' f' � Adopted by Council: Date Porm Approved by City orney i _ � Adoption Certified by Counci'Y�Secretary By: By: s'n n q' �' pproved by Mayor for Submissi n�o Council Approved by Mayor: Date V�1� Of � By: Hy' � � I � G � ORIGINAL BUDGET AMENDMENT The City's 2001 Budget is amended as follows FINANCING PLAN 149-76900 TlF Eligi6le Projects 149-76900-G604-00000 Payment from HR4 on Note Interest 149-76900-6922-00000 Payment from HRA on Note Principal 149-76901 Non TIF Eligible 149-76901-6922-00000 Payment from HRA on Note Principal Total Financing Plan SPENDING PLAN 149-76900 TIF Eligible Projects 149-76900-0899-69128 Wabasha West 149-76900-0739-68036 Skyway Visitor Signage 149-76900-0299-68016 Professional services for powntown 149-76900-0739-68078 Dayton's Skyway 149-76900-0547-68076 Dayton's Store project-Renovation 149-76900-0547-68077 Dayton's Store project-Environmental Cleanup Sub-Total 749-76901 Non-TIF Eligible 149-76901-�547-68�88 Personnel Decisions International (PDI) 149-76901-0558-69106 ProjectAdministration-PED Sub-Total 149-76902 Pending Projects 149-76902-0547-68002 Pending Projects Total Spending Plan Current Budget 3,538,737 8,719,365 2,400,000 14,658,102 ExhibitA ��L03 Amended Changes Budget 3,538,737 1,660,000 10,379,365 2,400,000 1,660,000 16,318,102 825,000 1,500,000 2,325,000 450,000 450,000 100,000 160,000 260,000 208,102 208,102 6,300,000 6,300,000 1,500,000 1,500,000 9, 383,102 1,660, 000 11, 043,102 1,5�0,0�0 1,500,Q00 900,000 900,000 2,400,000 2,400,000 2,875,000 2,875,000 14,658,102 1,660,000 16,318,102 � DT1'ARTMENT/OFFICE/COUNCII.: DATE INITTATED GREEN SHEET No.• 102173 � Plauuing & Economic Dev. May 7, 2001 ' Ot �.e CONTAGT PERSON & PHONE: e17"E IINITTAL7IATL+ T.Meyer 6-�. Geurs 6-6653 � 3 DEP,�t Dm. � ci�counrcu. MIJST BE ON COUNCII. AGENDA BY (DATE) �Ir'N 5_ CLTY ATTORNEY 4 FAIANCIAL SERV/ACCfG 5/16/01 gpg BER 6 MAYOR (OR ASST.) I BOB GEURS ROU1'ING 2_T MEYER � 4 a� ORDER TOTAL # OF SIGNATURE PAGES _(CLIP ALL LOCATIONS FOR SIGNAT6RE) acrioN �QvES�rEn: Approval of Budget Resolufion increase for City Fund 149, Downtown Capital Project Fund, which is consistent with previous HRA Resolution Ol-3/28-3. RECOD�BdENDA1TONS: Approve (A) or Rejea (R) PERSONAI. SERVICE CONTRAGTS MUST ANSR'ER 1'HE FOLLOWING QUESTIONS: PLANNING COM�IISSION 1. Has this person/fivn ever worked under a contract for this deparhnent? CIB COMbIIT1'EE Yes No CIVIL SERVICE COMbIISSION 2. Hu this person/fi:m ever been a ciTy employee? Yes No 3. Does this persoNfim� possess a skill not nortnally possessed by any cu�rent city employee? Yes No Explain all yes aaswers on separate sheet aud atfach to green sheet INTf1ATIlVG PROBLEM, ISSUE, OPPORT'UNI'1'Y (Whq What, When, Where, Why): �pNV�:� [�1'�e+J�v?trP.r� � �1y�G� w..'"_ P1A1' � �� ADVANTAGESIFAPPROVED: Provides spending authority for various projects. DISADVANTAGES IF APPROVED: . None DISADVANTAGES IF NOT APPItOVED: TOTAL AMOUNT' OF TRANSACTION: $1,66Q000 COST/REVENUE BUDGETED: FUNDING SOUACE: ACTIVITY N[JMBER: 149-76900 FINANCIAL INFORMATION: (EXPI.AI� Paymenfs by HI2A on Subordinated Tas Increment Note. x�vsn�r«nr[n.v�c�,,,sn� w�yg.�azns asoezt waa °a I .- �X l��b��-13 ORIGINaL o�-�o� Housing and Redevelopment Authority of the City of Saint Paul, Minnesota CERTIFICATE OF RECORDING SECRETARY The undersigned hereby certifies as follows: That she is the duly appointed, qualified Assistant Secretary of the Housing and itedevelopment Authority of the City of Saint Paul, Minnesota, herein called the "Local Public Agency' ; 2. That the attached RESOLUTION NO. 01-3/28-3 is a true and correct copy of the resolution as adopted on the 28th day of March, 2001; 3. That the seal affixed below constitutes the official seal of the Local Public Agency and this Certificate is hereby executed under such official seal; and 4. That the undersigned is duly authorized to execute this Certificate. IN WITNESS WHEREOF, I have hereunto set my hand and the seal of the said Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, this 29th day of March, 2001, C �� 1`�""�'�C{'ti�r/i� — A istant Secretary Sponsor: r Bostrom RESOLUTION NO. 0'13/28-3 RESOLUTION AMENDING HRA 2001 BUDGET 70 SATISFY CERTAIN S7ATE LAW TAX INCREMENT REQUIREMENTS FOR THE DOWN70WN AND SEVENTH PLACE DISTRICT # 82 AND # 24. WHEREAS, the Housing and Redevelopment Authority of the Ciry of Saint Paul is requlred to satisfy MN Statute 149.176 Subd.ic. regardtng duration timits of pre-'1979 tax increment financing distrids. THEREFORE, BE IT RESOLVED, that the 2001 HRA Budget Is ame�ded as follows: - HRA DOWNTOWN AND SEVENTH PLACE TAX INCREMENT DISTRICT # 82 824 FINANCING PLAN Current Budget Use of Fund Balance '148-76801-9890 436,761.00 14&76802-9890 29,050.65 14&768059890 13,415,000.00 Total Financing Plan 13,880,811.65 SPENDING PLAN Professional Services tA8-76801-0299-G8016 Downtown Parking 148-76801-0739-68023 Parking/Skyway Usitor Signage 148-7680 7 -0739-68036 James J Hill Library 1148-76801-0739-6804'I Landmark Project 14&76802-0739-68035 Downtown Parking Program 148-76805-0739-68023 Project Administration '148-76805-0558-69706 Smith Avenue Projed '148-76805-0299-69129 Gontribution for ArmsVOng Hause Project '148-76805-0545-69130 Ramsey County Administration '148-70805-0299-69131 Wabasha Development 148-76805-0547•69132 Sixth SVeet Skyway 748-76805-0899-69133 World Trade Center Reserve '148-76805-0547-69134 Transfer to Fund 139-86343l86334 148-76805-0560-69125 (Dayton's ,PDf , CDBG Float Loan) Total Spending Plan 197,462.00 199,000.00 18,235.00 22,064.00 29,050.65 200,000.00 1,850,000.00 50,000.00 350,000.00 15,000.00 500,000.00 650,000.00 500,000.00 9,300,000.00 �3,880,811.65 Change (53,203.34) 028 (557,256.00) (6�0,459.06) (A0,504.59) 5,535.83 (18235.00) 0.42 028 (200,000.00) 15,870.61 (30,000.00) (107,181.30) 10,10524 (500,000.00) (650,000.00) (500,000.00) 1,403,949.45 (670,459.06) b\��.0'J Amended Budget 383,557.66 29,050.93 12,857,744.00 13,27U,352.59 156,957.41 204,535.83 0.00 22,064.42 29,050.93 0.00 '1,865,870.61 20,000.00 242,8�8.70 25,10524 0.00 0.00 0.00 10,703,949.45 '13,270,352.59 YEAR 2001 HRA BUDGET AMENDMENT HRA DEBT SERVICE FUND # 139 Curtent Budget Downfown TIF Revenue Bonds, Series 1998 (139-86334) Financing Plan . Transfer from HRA Tax Increment Fund # 148 13&86334-7306 0.00 Tax Inaements g,242,146.18 '139-86334-1030 Hotel Motel Tax 139-86334-1401 220,000.00 Fund Balance g09,701.82 'I3&86334-9890 �nterest Eamings 0.00 139-So334-6602 Transfer from Fund 117(Baliroom Loan Repayments) 0.00 Total Financing 9,371,848.00 Spending Plan Intra-fund Transfer to 139-86326 (CDBG Float) '13&86334-0799 768,750.00 Intra-fund Transfer to 13&86343-0799 (Subordinated Note) 139-86334-0799 5,358,702.00 Downtown TIF Revenue Bonds, Series 1998 139-86334-0611 Interest 1,184,996.00 139-86334-0627 Principal 2,060,000.00 Total Spend(ng 9,371,848.00 CDBG Float Loan ('139-56326) F(nancing Plan Intra-fund Transfer from 139-86334 for CDBG Float Loan "139-86326-7499 768,750.00 Total Financing 768,750.00 Spendtng Pian CDBG Float Loan �3386326-0629 (Inciudes 5780,000 for Super Block/ 768,750.00 Fannie Mae Loan) Total Spending 768,750.00 Downtown Subordinated TI Revenue Note (139-86343) Financing Plan Intra -fund Transfer from 73486334 139•86334-7499 5,358,102.00 Transfer from Fund 148-76805 139•86343-7306 9,300,000.00 ToWI Ffnancing 14,658,102.00 Spending Plan Transfer to Fund 149-76900 Payment to City Subordinated Note -Interest 139•86343-0619 (Original Budget) 3,538,737.00 Payment to Ciry Subordinated Note -Principal 13486343-0629 (Original Budgetj 1,819.365.00 Payment to City Subordinated Note -Principai 139•86343-0629 Dayton's Project 7,800,000.00 Payment to City Subordinated Note -Principal 139•86343-0629 ( Wabasha West Improvements/ 0.00 North Quadrant Improvements) Payment to Ciry Subordinated Note -Principai �39-86343-0629 (Professionai Services) 0.00 Transferto Fund 149-76901 Paymen[ to City Subordinated Note -Principal 139-86343-0629 (PDI Project) 1,500,000.00 Total Spendfng 14,658,102.00 RESOLll710N NO. 01 Change 1,403,949-45 2257,853.82 0.00 0.00 277.fi65.73 238,273.00 4,'177,742.00 2,511,250.00 1,666,492.00 4,177,742.00 2,571,250.00 2,511,250.00 2,511250.00 2,511,250.00 1,660,000.00 0.00 'I,660,000.00 0.00 0.00 1,500,000.00 160,000.00 0.00 1,660,000.00 61-60� Amended Budget 1,403,949.45 10,500,000.00 220,000.00 909.7�1.82 277,665.73 238273.00 13,549,590.00 3,280,000.00 7,024,594.00 1,184,996.00 2,060,000.00 13,549,590.00 3,280,000.00 3,280,000.00 3,280,000.00 3,280,000.00 7,018,102.00 9,300,000.00 1b,318,102.00 3,538,737.00 1,819,365.00 7,800,000.00 1,500,000.00 160,000.00 1,500,000.00 16,316,102.00 � G►-�o HOUSING AND REDEVELOPMENT AUTHORITY OFTHE CITY OF SAINT PAUL, MINNESOTA REPORT TO THE COMMISSIONERS DATE MARCH 28, 2001 RESOLUTION AMENDING HRA 2001 BUDGET TO SATSSFY CEFiTA{N STATE LAW TAX INCREMENT STATUTE REQUIREMENTS FOR THE DOWNTOWN AND SEVENTH PLACE DISTRICT #82 AND #24 (DISTRICT 17) Purpose Technical Budget Resolution to satisfy State law requirement that after April l, 2001 tac increment may only be us�d for debt obligations for po�rvtown and Seventh Place District. Background As of 1990, there existed three debt obligations associated�vith the District: (I) CDBG Float Loan, (2) Downtown TIF Bonds, and (3) Ta�cable Subordinated I�Tote. The attached resolution moves remaining TIF Fund Balance and loan repayments (in Fund 148) to HRA Debt Ser�ice Fund (Fund 139) to either pay do�vn CDBG obligation or the Taxable Subordinated Note (which is budgeted in Fund 149). The net result of the attached resolution will allo�v paying down an additional �2,511,250 of the existing CDBG obligation with TIF. The resolution r•✓ilJ-al.seallrnv the HRt1 to provide funding for a previousi ard a,�proved North Quadrant Housins project by indirectl fun�dinr�s �i,_'r��.�,p„hlic imDrovements this sorinQ usin4 +he Subordmated Note and Funa i�7. _ . . .. . . _ _ __ __ ___._.._.. .,.,.,� f„r h<, T'rF «•�11 atso be funded from Fund 149. �--- A copy of the State law requirements is attached in E�chbit A. HRA Resolution The HRA Executive Director recommends the attached Budget Resolution. Staff: Bob Geurs Tom Meyer Department Accountant Sponsor: Chair Bostrom �x�,�l� 6�-`00 {4 fi� �`I�P1��E- �m�+,kr*rr � ��,z � �'z`� , � �Subd..lc. Dur'ation�limits;`pre-1979 �districfs. Por fax irioreriie created�nor to AugusE 1,1979, no tax incibingnt shall be paid to tfie a 2001, or the term of a nondefeased bond oi qbligatitin; ouutanding on E by increments from the district or project area, whichever tiine is greaG case Will atax incrementbepaid to aii authority afterAugust 1,'2009; fr distriot"s termination dateis extendedbeyond April l; 2001,becansetic �'` 1 0'th 'aturides extending beyond April l, 2001, the : fmancing districts iority after Aprii l, ri11;1990, secured provided that in no Zsuchadistrict.Ifa restrictioas on Apnl l•, 99 , wi m apply: �19 increment coller'rPd from the_district may be e�nded after April 1, 2001, except to pay or defease (i) bonds issued before Apni 1,1994, or (u) hon s issu to refund the prin- cipal of the outstanding bonds andpay associated issuance costs, provided the avenge matu- rity of the refunding bonds does not ezceed the bonds refunded. . •- a �-c.a� RESOLUTiON N0. 01-3/28-3 RESOLUTION AMENDING HRA 2001 BUDGET TO SA7ISFY CERTAIN STATE LAW TAX INCREMENT REQUIREMENiS FOR THE DOWN70WN AND SEVENTH PLACE DISTWC71t 82 AND # 24. WHEREAS, the Housing and Redevelopment Authority of the City of Salnt Paul Is required to satisfy MN Statute 749.176 Subd.te, regardfng durdtlon Iimits of pre-0979 Yarz inuement flnancing districts. THEREFORE, BE ff RESOLVED, that fhe 2001 HRA Budget Is amended as foilows: • HRA DOWNTOWN AND SEVENTH PLACE TAX iNCREMEt3T D1SSRlCT # 82 $. 24 PINANCING PLAN Current Budget lSse of Fund Baiance 436,761.00 '14&76801-9890 p9,050.65 74&76802-9890 �3,415,000.00 14&76805-9890 Total Flnancing Plan 13,880,811.65 SPENDING PLAN Professional Services 74&76801-029368016 Dawntown Parking 148-76801-0739-68023 ParkinglSkyway VsitorSignage 148-76807-0739-68036 James J Hill Library 1148-76801-0739-68041 Landmark Prqect 148-76802-0739-68035 Downtown Parking Program 14&76805-0739-68023 project AdminisVation 148-76805-0558-69t06 Smith Avenue Project 148-76805-0299�9129 Contribution for ArmsVOng House Projed 148-76805-0545-69130 Ramsey Counry Administration 148-76805-0299-69137 Wabasha Oevetopment 148-768050547-69132 Sizth Street Skyway 148•768050899-69133 World Trade Center Reserve 1A8-76805-0547-69134 7ransfer to Fund 13&86343/86334 1A&76805-0560-69127 (Dayton's ,PDI , CDBG Float Loan) Total Spending Plan 197,462.00 199,000.00 18,235.00 22,Ofi4.00 29,050.65 200,000.00 1,850,000.00 50,GJO.GO 350,000.00 75,000.00 500,000.00 650,000.00 500,000.00 9,300,000.00 13,880,811.65 Change (53,203.34j 028 (557,256.00) (610,459.06) (40,504.59) 5,535.83 (18235.00) 0.42 028 (200,000.00) 15,870.61 (30,000.00) (107,181.30) 10,10524 (500,000.00) (650,000.00) (500,000.00) 1,403,949.45 (610,459.06) Amended Budget 383,557.66 29,050.93 12,857.744.00 13,270,352.59 156�957.45 204,535.83 0.�0 22,064.42 29,050.93 0.00 1,865,870.61 20,000.00 242.818.70 25,10524 0.00 0.00 0.00 1�,703,959.45 13,270,352.59 YEAR 2001 HRA BUDGET AMENDMENT HRA DEBT SERVICE FUND # 139 Current Budget Downtown TIF Revenue Bonds, SeAes 1998 (139A6334) Finandng Plan Transfer from HRA Tar inaement Fund # 148 139-86334-7306 0.00 Taz Inaements 139-86334-1030 8.242.146.18 Hotei Motei Tax t39-86334-1401 220,000.00 Fu�d Balance 139-86334-9890 909,701.82 interest Eamings 0.00 '139-86334-6602 7ransfer from Fund 557(Baliroom Loan Repayments) 0.00 7otai Financing 9,371,848.00 Spending Plan InVa-fund Transfer to 139-86326 (CDBG Float) 139-863340799 768,750.00 InVa-tund Transfer W 139-86343-0799 (Subordinated Note) 13&86334-0799 5,358,102.00 Drnmtown Tlr Revenue Bonds, Series 1998 13&86334-0611 Interest 1,184,996.00 139-86334-0621 Principal 2,060,000.00 Total Spending 9,371,848.00 CDBG Float Loan (139-86326) Financing Plan Intra-Nnd Transfer from 139-86334 for CDBG Float Loan 139-8632&7499 768,750.00 Total Finaneing 768,750.00 Spending Plan COBG Flozt Loan �3486326-Oo29 (InduZes 5780,000 for Super Block! 768,750.00 Fannie Mae Loan) Total Spending 768,750.00 Downtown Subordinated TI Revenue Note (139-86343) Financing Plan Intra -fund Trensfer from 139-56334 5,358,102.00 739-8"v334-7499 Transfer hom Fund 14&76805 139-86343-7306 9,300,000.00 Total Flnancing �4,658,102.00 Spending Plan Transfer W Fund 149-76900 Payment to City Subordinated Note -Interest 13&86343-0619 (Original Budget) 3,538,731.00 Payment to City Subordinated Note -Principal 139-86343-0629 (Original Budget) 7,819.365.00 Payment to Ciry Suhordinated Note -Principal 13&86343-0629 Dayton's Project 7,800,000.00 Payment to City Subordinated Note -Principai O.QO 139-86343-0629 ( Wabasha Westtmprovements! North Quadrant ImprovemenGS) Payment to City Subordinated Note -Principa� 13386343-0629 (Professional Services) 0.00 Trensfer to Fund 149-76901 Payment to City Subordinated Note -Prindpai 139-86343-0629 (PDI Project) 1,500.000.00 Total Spending 14,658,102.00 RESOlUT10N N0. 01-3f28-3 Change 1,403,949.45 2.257.853.82 0.00 0.00 277,665.73 238273.00 4,177,742.00 2,511250.00 1,666,492.00 4,177,742.00 2,511,250.00 2,511,250.00 2,511250.00 2,511,250.00 1,660,000.00 0.00 1,660,000.00 0.00 0.00 �,soo,000.00 760,000.00 0.00 1,660,000.00 Amended Budget 1,403,949.45 10,500,000.00 220,000.00 909.701.82 277,665.73 238,273.00 13,549,59D.00 3,280,000.00 7,024,594.00 1,184,996.09 2,060,000.00 13,549,590.00 3,280,000.00 3,280,000.00 3280,000.00 3,280,000.00 7,018,102.00 9,300,000.00 16,318,102.00 3.538,737.00 t,819,365.00 7,800,000.00 1,500,000.00 160.00Q.00 1,500,000.00 16,318,102.00 Ol-(.03 � �