03-373ORi�:iv��
Council File # � 3 3 � 3
Resolution #
Green Sheet # 0 � �
RESOLUTION
OF SAINT PAUL, MINNESOTA
�
Presented By
Re£erred To
Committee: Date
�3a
WHEREAS, the Saint Paul City Council, by Resoluuon O1-1193, authorized a Neighborhood STAR loan of $200,000 and a
Neighborhood STAR grant of $25,000 to the Minnesota Boat Club (hereinafter referred to as the"Boat Club") for renovation of the
historic boathouse building on Raspberry Island (hereinafter referred to as the "ProjecP'), and
WHEREAS, the Neighborhood STAR Boazd has reviewed a request from the Boat Club for additional STAR futtds and
recommended an additional grant of $81,250 and an additional loan of $18,750 for the Project, and
WHEREAS, the STAR funds will be used to restore and renovate an historic building that is on the national historic register and
contribute to the revitalization of Saint Paul's river&ont, and
WHEREAS, the proposed renovation of the boathouse meeu the guidelines for the Neighborhood STAR Program and the Boat
Club is pledging matching funds totaling $325,000 far the Project, and
WIIEREAS, the Boat Club is not the recipient of a business subsidy pursuant to Minnesota Statutes, 116J.993 et. seq., insofaz as the
Boat Club is a SOlc(3) non-profit organization with less than 100 full-tune employees, now, therefore
BE IT RESOLVED, that the Saint Paul Ciry Council hereby authorizes an additional Neighborhood STAR Loan of $18,750 and an
addirional grant of $81,250 for the Minnesota Boat Club and the associated budget amendment outlined in E�chibit A, and be it
F[JRTHER RESOLVED, that combined with the STAR funds awazded to the Boat Club under resolufion 01-1193, the City Council
hereby authorizes a total Neighborhood STAR loan of $218,750 and grant of $106,250, and be it
FINALLY RESOLVED, that the terms of the STAR Loan shall include, among other terms and conditions to be determined by the
Director of the Department of Planning and Economic, or her designee, an interest rate of 1.75% per annum for 20 years.
Adoption Certifi=d
By:
Approved by May
By:
Council Secretary
\ _ � .
nate , y ^ l L '
Requested by Department of:
Plannin & Economic ev m
�
Foxm Approved by Ci A oxn y
By:
Appj Mayor Submission to
- B . �-��
d by Director, O ice n
SY:
Services
Adopted by Council: Date ��,�� ` ;ZTzj�
EXHIBIT A
03-3�3
PROJECT NAME CURRENT CHANGE PROPOSED
BUDGET BUDGET
STAR Year Round Projects
P7-930-90305-0547-77160 615,764.62 (100,000.00) 515,764.62
Minnesota Boat Club 11
P7-930-90305-0547-77528 �oan 200,000.00 18,750.00 218,750.00
P7-930-90306-0547-77528 grant 25,000.00 81,250.00 106,250.00
840,764.62 0.00 840,764.62
�: DEPAR'1'MENT/OFFICE/COUNCII.: DATE INITIATEA GREEN SHEET No.• 202119 O�'�� •
� PED � 2/21/02 '
:�� CONTACI PERSON & PHONE: 1M'CIAI✓DATE Ilv1TInI.mATE
Dan Smith (266-6581) � 1 nErnizT�rrr nm � ---y � - �� $ crrY covrrcit
MUST BE ON COUNCII. AGENDA BY {DA'i'E� �Ir'N 3 CITY ATfORNEY _ CITY CLERK
NOMBER Z��CIAL SERV DIIt. FINANCIAL SERV/ACCTG
FOR 4MAYOB(ORASST.) _CIVII,SERVICECOMIvIISSION
ROVTSNG •
, ORDER
TOTAL # OF SIGNATIJRE PAGES _(CLIP ALL LOCATIONS FOR SIGNAI'ORE)
ACl'ION REQUESTED:
Approval of an additional $81,250 gra�t and $18,7501oan from ihe Neighbofiood STAR Program to the Minnesota Boat Club.
RECOMMENDAITONS: Approve (A) or Reject (R) PERSONAI. SERVICE CON1'RACTS MIJST ANSWER THE FOLLOWING
QUESTiQNS:
PLANNING COMMISSION 1. Has this peison/firtn ever worked undet a wntract for Utis departrnent?
CIB CObfMITTEE Yes No
CIViL SERVICE CONIIvIISSION 2. Has this person/firtn ever been a ciry employee?
Yes No
3. Does this pecsoMficm possess a skill not noanally possessed by any cunent cny employee?
Yes No
Explaiu all yes answers on separate s6eet and attach to green sheet
� INTT1A71NG PROBLEM,ISSUE, OPPORTUNITY (Who, Whay W hen, Where, Why):
, The Minnesota Boat Club received a$200,000 loan and $25,000 grant from the Neighborhood STAR Program in
2001. The loan and grant will be used to renovate the historic boathouse building on Raspberry Island. The Boat
Club has requested an additional $100,000 in STAR funding to complete the project.
ADVANTAGES IF APPROVED.
The boathouse renovation project will proceed. This project will renovate an historic building and add to the
- revitalization of Saint Paul's downtown riverfront.
DISADVANTAGES IF APPROVED:
None.
DISADVANTAGES IF NOT APPROVED:
The boathouse renovation project will be defayed or canceled.
TOTAL AMOUNT OF TRANSACTION: $100,000 COST/REVENUE BUDGETED: -
Fi)NDING SOURCE:
ACTIVITYN[JMBER:
FINANCIAL INFORA4ATTON: (EXPLAIN)
PED Credit Committee has risk-rated this loan DOUBTFIJI.. '
K �SM1ar��PED�Dms\GRE6N SHEET.wpd '
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