03-1088�
Presented By
Council File # �✓ _ r O� �
Resolution #
Green Sheet # `� �' (", V ��
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
, �
Referred To Committee: Date
2 WHEREAS, the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint
3 Paul Minnesota have adopted the IIItA Budget far the fiscal Year 2004 through its Resolution 03-12/10-1,
4 subject to the approval of the City of Saint Paul; and
6 WHEREAS, the Board of Commissioners of the Housing and Redevelopment Authoriry of the City of
7 Saint Paul, pursuant to the provisions of Minnesota Statutes, Section 469.033, have levied the housing and
8 redevelopment tax to be collected in 2004 through its resolution 03-12/10-1, subject to approval of the
9 Council of the City of Saint Paul; and
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11 WHEREAS, the housing and redevelopment tax is necessary for the financing of appropriations within the
12 2004 HI2A Budget; now, therefore, be it
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14 RESOLVED, by the Council of the City of Saint Paul that, pursuant to the provisious of Minnesota Statutes,
15 Section 469.033, the housing and redevelopment tax levied by the Housing and Redevelopment Authority of
16 the City of Saint Paul Minnesota, to be collected in 2004 is $840,174 and is hereby approved.
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1$ FURTHER RESOLVED, that pursuant to the provisions of Minnesota Statutes 469.033, the City Clerk is
19 hereby directed to certify this Ta�c Levy Resolution to the County Auditor of Ramsey County immediately
20 upon adoption and approval of this resolution.
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22 FINALLY RESOLVED, that pursuant to the provisions of Minnesota Statutes 469.033, the HRA BLJDGET
23 for the fiscal year beginning January 1, 2004 as adopted by the Housing and Redevelopment Authority of the
24 City of Saint Paul Minnesota, is hereby approved.
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28 Financial Services
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_ `i a3- �ogg
Adoption Certified by Council Secretary
By:
Approved by
By:
Requested by Department of:
Plannin & Economic Dev men
By:
Approved by Financial Services
g�, ���
Form Approved by City torne
n
I
yor for Submission to Council
Adopted by Council: Date //PP /% ��Q3
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� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
DepartrnenU�ce/council: Date Initiated:
PE -p��� 24NOV Green Sheet NO: 3008355
CoMact Person 8 Phone:
Department Sent To Person Initial/Date
Tom Meyer I nnin & Ecou mic Develo Sob Hammer
266$667 qs5jyn 1 Isnn' & Ecanomic Develo De artme¢t Director
Must Be on Councii qqenda by (Date): Number 2 i Att rne i Attorne
10-DEG03 For
Rou6ng 3 i ancial �'vices Finaucial Se`vices
Ordef 4 iCouncil Ciiv Cnuncil
5 ' C1erk Ci Cl.erk
Total # of Signature Pages _(Clip All Locations for Signature)
Action Requested:
Ciry CouncIl Resolurion approving St. Paul HRA Propex[y Tax Levy payable in 2004 and approving the St. Paul IIl2A 2004 Budget.
Recommendations: Approve (A) or Reject (R): Personal Service Contracts Must Answer the Following Questions:
Planning Commission 1. Has this,personffirm ever worked under a contract for this departmenY?
CIB Committee Yes No
� Civil Service Commission 2. Has this person7firm ever been a city employee? �
Yes No
3. Does this person/firm possess a skill not nortnally possessed by any
current city employee?
Yes No
� Explain all yes answers on separate sheet and attach to green sheet
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why):
City Council Resolurion approving St. Paul HRA Proper[y Tazc Levy payable in 2004 and approving the St. Paul HRA 2004 Budget. 17ris
action is in accordance with State Law - Chapter 469.
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Advantapes If Approved: � D C� � O
The St. Paul Housing and Redevelopment Authority will be able to operate in 2004. � 2��3
CITY ATl"ORN�'�
DisadvantaaesifApproved:
Disadvantages If Not Approved:
Total Amount of � CosURevenue Budgeted:
. Transaction: �
Funding Source: Activity Number: � �������'� �"�
Financial Info(maPon:) DEC f� 2�Q�
Ex lain
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RESOLUTION NO. 03-12/10-
RESOLUTION LEVYING TFIE HOUSING AND REDEVELOPMENT
PROPERTY TAX, PAYABLE IN TIIE YEAR 2004, ON ALL
REAL AND PERSONAL PROPERTY WITHIN THE CTTY OF
SAIN'I' PAUL AND ADOPTING THE 2004 HIZA BUDGET
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WI�EREAS, the Executive Director has submitted her recommended Budget for the Housing and
Redevelopment Authority of the City of Saint Paul for the fiscal year beginning January 1, 2004; and
WHEREAS, the above stated budget is shown in the Budget Document, Prouosed BudQet-Year
2004- Housing and Redevelopment Authoritv of the Citv of Saint Paul; and includes appropriations and
fmancing in the following funds and amounts:
HRA General Fund
I-II2A Debt Service Fund
HRA Federal and State Programs Fund
HRA Tas Increment Fund
HRA Loan Enterprise Fund
IIRA Parking Enterprise Fund
3,463,000
$3,722,967
31,334,908
3,970,539
5,313,802
12,090,437
WIIEREAS, Minnesota Statutes, Sections 469.174 through 469.179, as amended (the "AcY') and
specifically Minnesota Statutes, Section 469.176, Subdivision 4 provides that tax increment received
from a tax increment district may only be spent in accordance with the budget set forth in the tax
increment financing plan for such district, and Minnesota Statutes, Section 469.175, Subdivision 4, sets
forth the procedwe for amending a tax increment financing plan and the budget contained therein; and
WHEREAS, in order to comply with the Act, the Housing and Redevelopment Authority of the
City of Saint Paul, Minnesota (the "HRA") desires to amend the tax increment financing plans (the
"Plans") as part of the 2004 HRt1 and City budget process; and
WHEREAS, a public hearing on the amendments to the budgets contained in the Plans was held
at City Council, after notice was published in accordance with law, at which public hearing all those
appearing who so desired to speak were heard from the City of Saint Paul, Ramsey County and School
Districts; and
WHEREAS, the esfimated maximum housing and redevelopment property tax that the HRA
could have levied for taxes payable in 2004 is $2,045,788 as provided in Minnesota Statutes Section
469.033, Subdivision 6.
NOW, THEREFORE BE TT RESOLVED, that pursuant to the provisions of Minnesota Statutes
Section 469.033, Subdivision 6, the Housing and Redevelopment Authority of the City of Saint Paul does
hereby levy the housing and redevelopment property tas payable in the year 2004, on all real and
personal property within the City of Saint Paul, computed in the manner provided by Minnesota Statutes,
Secfion 469.033, Subdivision 6, with all adjushnents authorized by law. The housing and redevelopment
tax payable in 2004, is $840,174, which amount is authorized by law.
FURTHER RESOLVED, that the HRA Budget for the fiscal year beginning January 1, 2004, as
shown in the Budget document: Proposed Budeet-Year 2004-Housin¢ and Redevelopment Authoritv of
the Citv of Saint Paul is hereby adopted, as revised by the Board of Commissioners; and, be it
FURTHER RESOLVED, that the FIRA 2004 Proposed Budger includes an appropriation to
0.3 - ��88
transfer investment eamings in the amoiant of $300,000 (Account Code 1 1 7-2653 6) to the City of Saint
Paul General Debt Service Fund for the fmancing of debt service on the Central Library Capital
Improvement Bonds. This appropriation is hereby approved; and, be it
FCTRTHER RESOLVED, in order to comply with the Act, the budgets set forth in the TaJc
Increment Financing Plans, and the corresponding accounts within the 2004 fIRA Budget (Fund 148 and
139) are hereby amended; and, be it
FINALLY RESOLVED, that the Executive Director is hereby authorized and directed to submit
the 2004 �IRA BudgeY to the Mayor of the City of Saint Paul Yo be submitted to the Council of the City of
Saint Paul for considerarion, approval, and certification in the manner provided by law.
HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA
03-108�
REPORT TO THE COMMISSIONERS DATE: December 10, 2003
REGARDING Levy ot Property Tax Payable in 2004 and Adoption of 2004 Budget,
Including Budgets for Tax Increment Financing Plans
In accordance with State Law (Minnesota Section 469�, the attached resolution levies the
HRA property tax, payable in 2004, amends budgets contained in the Tax Increment
Plans and adopts the 2004 HRA Budget. This action will also require City Council
approval.
Martha Fuller
K:\SHARED�BUTLER�Reso1.HRATOM
03 - io��
HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA
REPORT TO THE COMMISSIONERS DATE December 10, 2003
REGARDING Authorization of Interfund Loans to Tax Increment Financing Districts
Purnose
The purpose of this report is to request the approval to issue interfund loans from the HRA
General Fund to specific tas increment districts for the financing of 2004 administrative costs.
Background
Administrative costs in taa� increment financing districts aze usually at their highest point during
the initial pre-development and start-up phase of the districts when there is little or no captured
value generating taY increment revenue. Thus, sources other than taac increments are required to
provide interim financing for these administrative costs. State law authorizes authorities and
and municipalities to pay costs of tax increment disiricts through financing from interfund loans
and receive subsequent reimbursement, with interest, from tas increment revenue when it
becomes available. State law also requires that any interfund loans to tax increment financing
districts be authorized by resolution of the legislative body.
The Saint Paul HRA administers several tax increment financing districts which have been
certified within the last two to three years. Some fairly substantial administrative costs will be
required on these districts within their early years.
Bud�et
The HRA's 2004 proposed budget includes interfund loans from the IIRA General Fund to ten
individual tas increment financing districts in the total amount of $500,950.
Recommendation
Staff recommends approval of the attached resolution which authorizes interfund loans from the
HRA General Fund, at 3.5 percent interest, to ten individual tax increment financing districts in
the total amount of $500,950 to finance 2004 administrative costs in these districts. The ten
districts with the corresponding loan amounts are listed on Attachment A to the resolution. In
addition, staff recommends that these loans be repaid, with the 3.5 percent interest, to the II12A
General Fund when tax increment revenue becomes available in the TIF districts a8er payment
of any higher priority appropriations in these districts.
K�\nf-interfundloan-2.wpd AA-P.DA-EEO Employer
03 -108�
RESOLUTION NO. 03-12/10-
Resolution Authoriziug an Interfund Loan to
EIRA Tax Increment �nancing Districts
WHEREAS, under Minnesota State Law, M.S. 469.178 Subdivision 7, Authorities and
Municipalities are authorized to pay ta�c increment financing (TIF) district costs through
financing from interfund loans and receive subsequent reimbursement, with interest, from tas
increment revenue; and
6 WHEREAS, administrative costs in TIF districts are usually at their highest point during the
7 initial pre-development and start up phase of the district when there is little or no captured value;
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WIIEREAS, administrative costs are projected to be incurred in 2004 in certain TIF districts,
where there is no available tax increment to finance these costs. These TIF districts, with the
proposed loan amounts to fmance these costs, are shown on Exhibit A, attached hereto; and
WHEREAS, the HRA's 2004 Proposed Bndget includes the interfund loans from the HRA
Genera7 Fund to specific TIF districts in the total amount of $500,950.
NOW THEREFORE BE IT RESOLUED, that the Board of Commissioners of the Housing and
Redevelopment Authority of fhe City of Saint Paul approve the following:
1. Interfund loans, at 3.5% interest per annum, are to be made from the HRA General Fund
to the TIF Districts in the amounts shown on Exhibit A, attached hereto.
2. Repayment of the interfund loans, with interest, is to be made from the TiF Districts tc
the HRA General Fund annually when tax increment revenue is available after payment
of other required higher priority appropriations in the individual TIF Districts.
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ATTACHMENT A
Tax Increment Financing District
North Quadrant (148-76205)
Hubbard (148-76310)
US Bank - West Side Flats (14$-76703)
UpperLanding (148-76702)
Emerald Park (948-76708)
Osceola Park (148-76706)
Phalen Village (148-76214)
Straus Park (148-76210)
Shepard Davern (148-76711)
Bridgecreek Senior Place (148-76213}
TOTAL
Interfund Loan
From HRA
General Fund
for 2004
Administrative
Costs
$40,000
$10,000
$80,000
$50,000
$75,000
$25,000
$85,950
$25,000
$50,000
$60,000
$500,950