03-804Council File # p3 - �0 y
Resolution #
/?�....� CL��aL
Presented By
Refesed To
�n� ���3
RESOLUTION TO AMEND THE CITY OF SAINT PAUL'S 2003 CAPITAL IMPROVEMENT
BUDGET FOR THE CITY'S PUBLIC OUTDOOR MARKET UPGRADE
WHEREAS, in the last two years, the Friends of the St. Paul Fanners' Market ("Friends") haue led a
Capital Campaign for the upgrade of the existing public outdoor Market at Fifth and Wall Streets ("the
Project") , attached in E�ibit B, for the benefit of the citizens of Saint Paul; and
WHEREAS, the City has received contributions of $1,433,945 which were collected by the Friends;
�
WHEREAS, Council Resolution 03-334 amended the Financing budget to reflect donations in the
amount of of $1,433,900 and increased the Spending budget by that amount; and
WHEREAS, an additional $235,000 in private pledges (attachment A) were obtained by the Friends;
�
WHEREAS, the additional $235,000 in private pledges aze backed by a guaranty by the Lowertown
Redevelopment Corporation (attachment B); and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does
hereby certify thax for the Outdoor Market Upgrade that $235,000 in funds are available for appropriation in
excess of those estimated in the 2003 Capital Improvement Budget and recommends the following changes to
the 2003 Capital Improvement Budget
Current
Budeet
I��►i�.�� 1��1
CPL-0O3-7R057-6905
SPENDING PLAN
CPL-0O3-7R057-0892
CPL-0O3-7R057-0894
2,048,900
136,000
1,912,900
Chanee
235,000
235,000
Amended
Budeet
2,283,900
136,000
2,147,900
03- 8a� 2 � , �
Green Sheet # 71x.��$�
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
Presented By
Referred To
Committee: Date
BE IT RESOLVED that the City Council of Saint Paul, Minnesota approves the above budget authorization
and acceptance of private funds and pledges from the Friends; and
THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation
of the Mayor and advice of the Long-Range Capital Improvement Budget Committee, that $235,000 is
available for appropriation in the 2003 Capital Improvement Budgets, as heretofore adopted and amended by
this Council, be hereby fixrther amended as recommended by the Mayor.
Attachments
A- Pledge commihnents received by the Friends of the St. Paul Farmers' Mazket
B- Guaranty by the Lowertown Redevelopment Corporation
Adopted by CounciC Dat �/�° . y 3�O 3
'�St.'Pen1I�4•Ra�CaPtt�t tm���t
�ndget Y�C�nrittee tec�eived this request on
� �' 1 � D 3 ^„_ �nd racommen�.•
a /I��'v vu l ..�,_. ��,._
�:��a: ��,� ��-__�_.
Requested by Department of.
Planning &. Eoouomic Developmen[
B � O
b3- �a+�
PLEDGES FOR FUTURE CONTRIBUTIONS
TO THE OUTDOOR FARMERS' MARKET
Date to be
Paid
KATHERINE B ANDERSON FUND December 2003
BREMER BANK October 2003
THE SAINT PAUL FOUNDATION November 2003
Total Pledges to be received in 2003
THE LAND O'LAKES FOUNDATION April 2004
THE SAINT PAUL FOUNDATION November 2004
Total Piedges to be received in 2004
THE SAINT PAUL FOUNDATION November2005
Pledge
Amount
$50,000.00
$10,000.00
$50,000.00
$25,000.00
$50,000.00
$50, 000.00
TOTAL FUTURE CONTRIBUTIONS/OUTDOOR FARMERS' MARKET
ATTACHMENT A
$110,000.00
$75,000.00
$50,000.00
$235,000.00
03 - �a-1
ATTACHMENT B
GUARANTY
This GUARANTY ("Guaranty") is made and delivered as of 7uly 16, 2003, by
LOWERTOWN REDEVELOPMEIVT CORPORATION, a Minnesota non-profit corporation
(°Guarantor"), to the CITY OF SAINT PAUL, NIINNESOTA ("City").
RECITALS:.
FIRST, pursuant to that certain Agreement, dated February 28, 2003, by and among the
City, the Friends of St. Paul Farmers'. Market ("Friends") and the St. Paul Grower's Association
("AgreemenY') the City has agreed to expend certain funds in connection with the upgrading the
e�sting outdoor farmers' market at 5�` and VJall Streets ("ProjecY'), and the Friends have agreed
to obtain charitable pledges from a variety of individuals and insriturions, including those
pledges set forth in the letters described on the attached Exhibit A hereto which are to be paid in
the future ("Piedge Letters"); and
SECOND, as a condition precedent to the City's expenditure of funds on the Project, the
City has required that Guarantor execute and deliver tkus Guaranty to the City.
AGREEMENT
NOW, TFIEREFORE, in order to induce the City to expend funds on the Project,
Guarantor hereby agrees as follows:
1. Subject to the terms and condirions of this Guaranty, Guarantor hereby guarantees
payment of all sums payable to the City in accordance with the terms of the Pledge Letters. All
amounts guaranteed hereunder shall be refezred to herein as the "Guaranteed Indebtedness".
2. Notwithstanding anything contained herein to the contrary, Guarantor's obiigation
to the Guaranteed Indebtedness as provided herein shall be limited to the sum of $235,000.00.
3. In the event that any of the authors of the Pledge Letters fails to pay the amounts
claimed due under its respective Pledge Letter upon the expiration of thirty (30) days from the
1531945v3
03-80�
date written demand for such payment is delivered by the Friends or City to such author, with a
copy to the Guazantor, then Guarantor shall pay the amounts claimed due under the Guaranteed
Indebtedness to the Cify.
4. This Guazanty shall be construed and interpreted in accordance with, and
govemed by, the laws of the State of Minnesota.
IN WITNESS WHEREOF, the undersigned Guarantor has executed and delivered this
Guaranty to the City as of the day and year first above written.
LOWERTOWN REDEVELOPNfE1�T
CORPORATION
By: _f i�°�-� � ��-
�,q �
Its: �oo�r'c� C�-a.r �—
and
s (N
Its: � i °��–u�
7 /� �03
ts3ivas�3 2
Da �o� f
� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet
�
a�
� Departmentlofficelcouncil: Dffielnkiated: � � �
� pE — PlanninS&EconomicDevelopment 07-AUG-03 Green Sheet NO: 3003843
Contact Person 8 Phone: i Deoartrnent SeM To Person Initi ate
Margo Fehrenbadlef � 0 laonine & Economic Develoo ( Mareo Fehrenbac6er I
266�fi66fl � Assign 1 lannin &EconomSCDevelo De artmentDirector 7
Must Be on Couneil Agenda by (Date): Numbel 2 inancial Services Office of Fina cial Se
For
Routing 3 i Attorne Ci Attorne
Order 4 avor's O�ce Mavor's O�ce I
5 ouncil G� Cou cil
6 'nancial ervices Finaocial erv/Accoun
Total # of Signature Pages _(Clip All Locations for Signature)
Action Requested:
Approval of attached Resolution to amend the 2003 Capital Frojects Budget to increase spending authority in the amount of future
pledges ($235,000) for the Outdoor Famers' Mazket.
Recommendations: Approve (A) or Reject (R): Personal Service Contrecks Must Answer the Following Questions:
Planning Commission 1. Has this person/firm ever worked under a contract for this department?
CIB Committee Yes No
Civil Service Commission 2. Has this personffirm ever been a city employee?
Yes No
3. Does this personffirm possess a skill not normally possessed by any
current city employee?
Yes No
F�cplain all yes answers on separete sheet and attach to green sheet
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why):
���..
r i �-r',!-' ° C" . �
Advantages If Approved: �„
�t�^ { " LG+.3 �,��� U G �'�
2 �03
DisadvanWges IfApproved: - �'��`' `.` ° -� r, �� :�, ' �p� t�
r V � �"
Disadvantages If Not Approved: �g� ��
ca�rrh f'�,.,
� �t16 � g 2D �
Total Amount of 235000 Cost/Revenue Budgeted:
Transaction:
Funding Source: D01l8Y1Of15 Activity Number: SEE BELOW
i Financial Informatiorr. CPL-0O3-7R057-6905-00000 Financing -�
(Explain) CPL-0O3-7R057-0894-00000 Spending