02-1146CouncilFile # (71i. � ��1{(�
Green Sheet # 114020
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
`S
Presented By:
Referred To:
Committee: Date
1 Whereas, under Council File O1J53 the Council approved the purckizse of certain property held by Frank M. Frattalone, REF, LLC, and F
2 & R Development for the sum of $3.2 millions under the terms and condirions negoriated by the Ciry Attomey's Office, and
3
4 Whereas, the proper[y's purchase was funded by various grants from the State of Minnesota totaling $32 million, and
5
( Whereas, the terms and condirions negotiated by the City Attomey's Office for the property's acquisition have added costs to the land
7 purchase in excess of $32 million, and
8
q Whereas, funds are available in various CIB contingency budgets to cover the additional expense so that the City can fulfill its
10 responsibilities under the land purchase agreement;
11
1z RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor and advice of the Long Range Capital
13 Improvement Budget Committee, that Yhe 1999 Capiial Improvement Budget, as heretofore adopted and amended by this Councii is hereby
14 �rther amended in the following particulazs and that the projects shall be closed out from the capital projects ledger;
15
16
17
18
19 Financing Current Amended
20 Budget Changes Budget
21 Trout Brook Corridor Acquisition
22 C99-3E015
23 State of Minnesota 900,000.00 - 900,000.00
2A State of Minnesota Metro Greenways 500,000.00 - SOQ000.00
25 StateofMinnesotaMnDot 1,80Q000.00 - 1,800,000.00
26 Land Lease 34,000.00 - 34,000.00
27 1985 CIB Contingency - 3,408.28 3,40828
28 1986 CIB Contingency - 55.13 55.13
29 1998 CIB Contingency - 22,207.22 22,207.22
30 1999 CID Contingency - 19,15310 19,15310
31 2000 CIB Contingency - 48,222.89 48,222.89
32 2001 CIB Contingency - 31,951.16 31,951.16
33 2002 CIB Contingency - 1,651.92 1,651.92
34 3,234,000.00 126,649.70 3,360,649.70
35
36
37 Spending
38
39 Trout Brook Corridor Acquisition
40 C993E015
41 AcquisirionofLand 3,234,000.00 126,649.70 3,360,649J0
42
43
Page 1 of 2
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Cou�cilFile # Q7„���y,�
_ Green Sheet # 114020
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
44
45
46
47
48
49
50
51
52
53
54
55
56
57
Capital Improvement Bonds
925-9�cx-0565-70104
1985 CIB Contingency
1986 CIB Conringency
1998 CIB Conungency
1999 CIB Contingency
2000 CIB Contingency
2001 CIB Contingency
2002 CIB Contingency
Trout Brook Corridor Acquisirion
925-9z�x-0565-73338
Cuaent
Budget
3,40828
55.13
22,207.22
19,153.10
48,222.89
31,951.16
50,000.00
174,997.78
Changes
(3,40828)
(55.13)
(22,20722)
(19,153.10)
(48,222.89)
(31,951.16)
(1,651.92)
126,649.70
Amended
Budget
48,348.08
48,348.08
Requested by Depaztrnent of:
�n,i�r - _ ,
d�.�.t� �f��� �+( � b/UZ
��aycaieu. -
Page 2 of 2
DEPAR'1'MENi/OFFICFICAUNCd D ti QJIIiA1ED O� �\`�� �,
FinancialServices < «s�G�- - GREE SHEET N�• 114020
CUNT4CTPERS�NkPHUNE O DEPARTMENTD UR � CITYCUUNCII.
LoriLee,6-8822 � cinnrronaer W L�� � aTrc�xs
MUSTBEONCOUNCp.AC�ENDABY(DA'IL� �2 FWl+NCW.SERVI(;FSDIR p FWANCW.SERVICESACCT.
�� Oq MAYOR((1RA55LtiTAN[) �
TOTAL # OF SIGNAT[7RE PAGES: 1 �(CLIP ALL LOCATIONS FOR SIGNATURE)
ACR NREQUFSi
Amend the Trout Brook Co[ridor Land acquisirion budget so that the city can makes it final payment and meet the terms of the sale and pwchase agreement
rzECO�onnrnus: npp�o�,e(a) or��a(n) PERSOPiAL SERViCE CONIRACTS MOST ANSWF.R THE FOLLOWING QUESTIONS:
ruwN¢vG coMwSSCON 1. Has this persoN£um ever �wrked mder a wnnact forihis depamnent?
w Cm Conm[m'Ee YES NO
Clvn. SEavtCeCObmfiss�ox 2. Has fhis person/Eum ever been a city empioyee?
A STAPF YES NO
-- �. iuea uus ye[su�uunu puaarsa u axw not nonuauy yusaeaseu uY mry cur[em ciry empmyeer
YES NO
4. Is ihis person 1 fttm a targeted vrndofl
YES NO
(Erylain all yes answers on Separate sheet antl attach to green sheet)
INRIATING PROBLEM.ISSUE, OPPOR'NNIiY (Whq Wha4 Whm, Whae.PTy}
The sale and purchase agreement specified that the city make tivee installments for the land payment: $800,000 on August 1, 2001, $2.2 million on Dec. 31,
2001, and $200,000 on or before August 1, 2002. The contrac[ also specified that 8% interest accrue on the outstanding balances starting on Aug. 1, 2001.
Total interest costs were approximately $93,000. The interest costs, plus costs for professional services and real estate taaces, puts the project over budget by
$126,700.
ADVANiAGESLL�APPROVED
The temvs of the agreement will be satisfied and the project completed.
nu� �� 2uo2
CITY ATTORNEY
D]SADVANTAGES IF APP0.0VED:
None. '
DISADVANTAGESOFNOTAPPROVED:
The seller would sue the city, incumng additional costs.
roT,u.nmourvTOVruaNSncr�orv $126,649.70 rnsrmevenvesunceren�cmc�eor.e� ves No
e�mumc souxce wcnnrr �uurvmex
FINANGW. QJPORMATION: (EXPLAN�