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267664 WHITE --CITV CLERK ��)y �. COIiIiCil v � PINK � - FINANCE GITY OF SAINT PAITL CANARV - DEPARTMENT BLUE -MAYOR File NO. `� " C ncil Resolution Presented By Referred To Committee: Date Out of Committee By Date WHEREAS, The Council of the City of Saint Paul is desirous of considerin,g additional detailed ana�lysis of proposed development for ma�or aites before final authorization ie given for the expeaditure of funds for the acquisition, relocation, aad othsr related site preparation costs for providing such major development sites; and WHBRFAS, The Finance Committee of the Council of the City of Saiat Paul has held meetings on June 23, 1976, Juae 30, 1976, aad July 26, 1976, with �e.presentatives of the Aausing aud Redevelopmeat Authority and the Office of Codmunity DeveYopmeat to discuss the details of establishing minimu�m developmeat cammitment.criteria and to review the narious policies and procedures that currently govern the acquisition, ralocstion and diapoeitioa activities for major denelopn�ment sites; noW, therefors,�. be it Rt�30LV8D, That the Council of the Citq of Saint �Paul does hereby adopt the follawing guidelines to be used for analyais of ma�or development site acquisition propoaals: 1. The ataff shall negotiate with patential developer(s) aad secure the maxim�um finaacial comonitment that the devaloper(s) is willing to malca for the� particular site under consideration. This conniitment would be de�liversd to City Council for conaiderati�n prior to proceediag with acquisiti.�n aad �ay include a number of different means of co�itment, including a bond �nd/or cash that aould be deposited in escrow, or other valuable seeuritiea that could be placed oa deposit with the Houeing aad Redevelopment Authority and/or tha City. �he sizs of the deposit or commitment and the conditiona of forfeiture for aon•perfornance preaumably would be cooimensurate with the value and magnitude of the proposed developmsnt. 2. '�The ataff will seek the most �irm and poeitive written cc�pen�i.ta�en� possible from the proposed developer(s). This would iaclude a statea�eat as te the typs of davelopment, estimated cost, coustruction schedule, preliffinarq design detail for the proposed development and financial resouress and coaimi.tmente available for the pro�ect from both the developer and amq and a11 mortgage lenders ae� providers of construction financing. COUNCILMEN Requested by Department of: Yeas Nays �mi�mm� But ler Hozza In Favor Levine Rcedler Against BY 9�metu Sozza Tedesco President�Ipo�lt 3ylvester Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY By Appr v by Mayor: y Approved by Mayor for Submission to Council By By 1 WH17E - CITV CLERK C011flCll �� PINK �� - FINANCE GITY OF SAINT PALTL CANARV - DEPqRTMENT BLUE -MAYOR File NO. "� ' Council Resolution Presented By Referred To Committee: Date Out of Committee By Date Page 2. 3. The staff will prepare informstioa for consideration bq City Council aad othera which would address the issue of the social and economic value of the proposed developament to the City and the neighborhood, the public cost of acquiring and preparing the site for developmeat, the taxes to be pai.d by the develop�rent upon its completioa, the tsxes beiag paid by owners of the site prior Co acquieition, and any other ideatifiable assets or impaet that w�ruld result from the developessnt. This part of the analysis would ex�mi.ne the proposal on a eost beaefit bssis; and be it FURTHER RB30LVBD, That major develop�eat sitas ahall be defined ae "Aay site that would coat in excess of $100,000 ia acquiaition and relocation costa to asseu�ble" and that the informatioa ideatified ia itema one through three above ehall be presented to the City Council for their consideration. COUNCILMEN Requested by Department of: Yeas Nays �['BeMFI�� Hozza In Favor ��— �C'/ Roedler Against BY � Hozza . �� President Sylvester AUG 5' �9� Form Approved by City Attorney Adopted by uncil: Date Certi ' d Passe y Coun ' Secretary, BY Appro by Mayor: D AUG 12 1976 Approved by Mayor for Submission to Council By BY puB��sHEO AUG 1 � 1976 _ � , � �- �;:�.;�� 'I�'�" ��+ �.�31�TT ��Z.;3.. � - 1 �� ,i-0.~`•;__. OF�+ICE O�+' '�'SE GITF COII1 Ci.L `f Al�.�i i`w� �'-' . . � ^�1 :.�y:ii�''.�� 4.� . . . � ?�• , � . . ' ��.�� ,l .. � D o�e : Ju1y 26, 1976 �=_� . G � �;i� ��'�"'� � � � � � � �°�' . 70 : Sc�in�' Pou! Cr�� Cour��i1 : - . F�C}� = C�/��I�'11 T T�� O�I FINANCE, MANAGEMENT AND PERSONNEL - ROSALIE L. BUTLER , Ghairrnon m4�� he r"ollo,�ing _ R�P{��7' Oi� % C. F. j� Ordinon�e , , �'j R��olu�ion � , � O.�hAr �' !�i"L� = - . The Finance, Management and Personnel Comm�ttee - today approved proposed criteria for evaluatiAn of developer interest in property to be �cquired under the Community Development Program. A resolution will be prepared for consideration -� by the Ci ty Counci 1.. , Crt-': H�LL� S�VE��CFt �'I.00R S�I\T P_1�:L, lti;�\�S��F':f i:It�_'