05-784Council File # �� �
Resolution #
Green Sheet # �� � �� � �
RESOLUTION
CITY OF SAI �PAUL, MINNESOTA 3D
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Presented By
Referred To
Committee: Date
RESOLUTION ACCEPTING GRANT FROM THE DEPARTMENT OF EMPLOYMENT AND
ECONOMIC DEVELOPMENT FOR THE WALDORF CORPORATION AND ROCK-TENN
COMPANY FOR 2250 WABASH AVENUE
WHEREAS, the Council of the City of Saint Paul, Minnesota, through Council File #OS-448, authorized the
Director of the Department of Planning and Economic Development to apply for a grant to the State of
Minnesota's Department of Employment and Economic Development (DEED) under its Minnesota
Investment Fund for funds to be used in the Waldorf Corporation and Rock-Tenn Company (Waldortj project
far 2250 Wabash Avenue; and
WHEREAS, DEED approved a$250,000 grant (Grant) for the Waldorf project; and
WHEREAS, the Mayor pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that
$250,000 in funds aze available for appropriations in excess of those estimated for the 2005 budget and
recommends the following changes to the 2005 budget:
101 State Grant Pro�ram Fund
FINANCING PLAN
DEED Grant-Waldorf
101-36303-3490-61679
SPENDING PLAN
Loan to Waldorf
101-36303-0547-61679
CURRENT
BUDGET
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$0
CHANGES
$250,000
$250,000
AMENDED
BUDGET
$250,000
$250,000
NOW, THEREFORE, BE IT RESOLVED, that the Council of the City of Saint Paul accepts the Grant and
approves the above changes to the 2005 budget, and authorizes the Director of the Department of Planning
and Bconomic Development or other designated staff to execute agreements with DEED and Waldorf, and
amendments thereof, and to implement the Waldorf project
os- �s�
�—� ni� Ah.�� Requested by Department of:
Adopted by Council: Date..fiu�uS�" a-� ��"OS
Adoption
Form Approved by
os- 78�f
� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
5 - ��
Departmentlofficelcouncil: Date Initiated:
PE — p��Ng&EconomicDevelopment 03AUG-05 Green Sheet NO: 3027591
CoMad Person 8 Phone• DeoartrneM SeM To Person Initial/Date
Maf5ha11 TUmef � 0 aonio & n mi Develo _�/����
6-6696 Assign 1 annin & Economic Develo De artment Director
Must Be on Council Agenda by (Date): NutnbEr 2 ioancial rvicw Office Financi 1 rvi
Fof 3 i Attoroe Pete McCall �
Routing
Ofder 4 a r' �ce Ma odA i u
5 ooncil Ci Cou cil
' 6 i Irk i Irk
Topl # of Signature Pages �(Clip All Lowtions for Signature)
Action Requested:
Approve resoluuon for City to accept funds from the Dept. of Employment and Economic Development (DEED) Minnesota
Investment Fund (MIF) for the W aldorf Corporation and Rock-Tenn Company (Waldor� project for 2250 Wabash Avenue.
Recommendations: Approve (A) or Reject (R): Personal Service ConVacts Must Answer the Following QuesGons:
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 person/firm ever been a city employee?
Yes No
3. Does this persoNfirm possess a skill not normally possessed by any
current city employee? �
Yes No
F�cplain all yes answers on separate sheet and attach to grnen sheet
Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why):
$250,000 MIF Grant to City of Saint Paul approved by DEED. Resolution accepting grant and approving budget amendment required.
MIF grant will assist in the funding of the Waldorf project.
AdvanWges If Approved: �
City will receive funds to assist in project funding for Waldorf Corporation and Rock-Tenn Company.
DisadvanWpes If Approved: REL+E��E�
None.
AU6 1 2 20�5
Disadvantages If Not Approved:
Business owners will be forced to find additional funds for project costs.
Total Amount of 250000 CostlRevenue Budge�:
Trensaction: ^�
I Fundina source: 101 State Grant ActiviN Number. �01-3�6 �-3490-61�79���
Program Fund ��, _ ���"���' �
Financial Infortnation: -
(Explain)
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