03-268��� r��
Presented By
Referred To
Council File # �_
Resolution #
/ Green Sheet # z02ll1
A �
Committee: Date
RESOLUTION ACCEPTiNG A LIVABLE COMMLINITIES DEMONSTRATION ACCOUNT
PROGRAM GRANT FROM THE METROPOLITAN COUNCIL FOR THE MARKFT LOFTS
PROJECT LOCATED AT WALL AND S STREETS
WHEREAS the City Council on July 7, 2002, by Resolution Number 02-591 authorized the Director
of the Department of Pla.uning and Economic Development to apply to the Metropolitan Council for a Livable
Communities Demonstration Account Program grant to assist in the acquisition of property and development
of an indoor farmer's market and 41 units of for-sale condominiums located on the southwest corner of Wall
and 5"' Streets (the "ProjecY'); and
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WHEREAS the Metropolitan Council awarded $950,000 to the City of Saint Paul from its Livable
Communities Demonstration Account Program to assist in the development of the Project; and
WHEREAS the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does
hereby certify that $950,000 in funds are available for appropriation in excess of those estimated in the 2003
budget and recommends the following changes to the 2003 budget;
FINANCING PLAN
Met Council Grant
P6-101-36303-3802-61661
Current Budeet
Chanees
Amended Bud¢et
SPENDING PLAN
Market Lofts Project
P6-101-36303-0565-61661
950,000
950,000
950,000
950,000
BE IT FURTHER RESOLVED that the City Council of Saint Paul, Minnesota approves the above
changes to the 2003 budget.
BE IT FURTHER RESOLVED that the City of Saint Paul has not violated any Federal, State or local
laws pertaining to fraud, bribery, graft, kickbacks, collusion, conflict of interest or other unlawful or corrupt
practice.
36 BE IT FURTHER RESOLVED that the City of Saint Paul Deparhnent of Planning and Ewnomic
37 Development may enter into an agreement with the State of Minnesota for the above-referenced project, and
38 that the Saint Paul Department of Planning and Economic Development certifies that it will comply with all
34 applicable laws and regulations as stated in all contract agreements.
a3�a�'
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41 BE IT FURTHER RESOLVED that the Director of the Department of Plauiung and Economic
42 Development is hereby authorized to execute such agreements with the State of Minnesota as are necessary to
43 unplement the project on behalf of the City of State Paul.
Adoption Certi£ied by Council Secretary
By:
Requested by Department of:
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Approved by
By:
Form Approve
Approved by May�://Date �� !/"� p—� _�/' ^( ���oved by
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By:
By:
CARLSOAP�MARKET LOFTS\CC Met Council Res
Adopted by Council: Date ��� \q ,�� O�
DEPARTMENT/OFFICE/COUNCII,: AATE INI'1'IATED GREEN SHEET NO.: ZOZI�II 63-a�
PED Febivary 20, 2003
CONTACT PERSON & PHONE: uv�T1nI✓DATE INiT�nLmATE
Allen Cazlson, 266-6616 � z Dsr.vra�n�N�r Dm. crrY c�tuc
NNST BE ON COUNCII, AGENDA BY (DATE) �SIGN t'ti{�9
March 12, 2003 N�Jt�ER 3 crrY nTTOxr�t Kelly �__ _ COI7NCb Boshom
FOR
ROi)7YNG 4 FINANCSALSERVDIR _FAIANCIALSEAVJACCTG
ORDER
5 MAXOR(ORASST.) 1 TEAMLEADEA
TOTAL # OF SIGNATLJRE PAGES 1_(CLIP ALL LOCATIONS FOR SIGNA,TURE)
ACTION REQiTESTED: Please sign the attached proposed resolution accepting a$950,000 Livable
Communities Demonstration Account Program grant from the Metropolitan Council which funds will be used to
acquire properiy and develog an indoor fazmer's inarket and 41 units af for-sale condominiums on the southwest
comer of Wall and 5�` Streets.
RECOMIvIENDAITONS: Approve (A) or Reject �) PERSONAL SERVSCE CONTRACTS MUST ANSWER TTIE FOLLOWING
QUESTIONS:
PLANNING CONIMISSION i. Has this persoNfirm ever worked under a contract for this department?
CIB COMNIl'ITEE Yes No
CIVR, SERVICE COMMISSION 2. Has this perso�/firm ever been a city employee?
Yes No
3. Does this person/finn possess a skill not normally possessed by any curze�t ciry employee?
Yes No
Explain all yes answers on separate sheet and attach to green sheet
INITIATING PROBLEM, LSSUE, OPPORTI1Ni'CY (Whq Whay When, Where, Why): TI7.0 �,'1� 1S 1JT0]JOSlllg a T1llX0Cl-US0 C10VelOPTY10Ylt
on Wall and 5�' Street comprised of a year round indoor farmer's market with 41 units of for-sale condominiums
above it The Meiropolitan Council pursuant to its Livable Communities program awarded $950,000 to the
proposed project of which $500,600 is dedicated to development of the indoor market and $450,000 is dedicated
towards acquisition of the site. 10% of the for-sale units will be affordabie to households at or below 80% of the
area median income. Units will sell on average for $250,000. Total development cost is estimated to be
$12,500,000 of which the indoor market space will be about $1.8 million.
ADVANTAGES IF APPROVED: '
A year round indoor farmer's market and 41 units of for-sale housing wiil be created thereb futthe ' i' of
5000 units in 4 years and expansion on the success of the downtown fazmer's market.
nisanvnnrracES � nrraovEn: None F E g� s 20U3
DISADVANTAGE5 IF NOT APPROVED:
The indoor fazmer's mazket and housing units will lack funding to be feasible.
TOTAL AMOUN'I' OF'I"RANSACTION: $950,000 COST/REVENUE BUDGETED: 7bs ,VO
FUNDINGSOURCE: P6-101-36303-3802-61661 ACTIVITYNUMBER: P6-]O1-36303-0565-61661
FINANCIAL INFORM.4TION: (EXPLAIN) �
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