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09-413SAINT Presented By: fteferted To: Council File # by � � � � �ree�sneettt 3069309 �� Committee Da._. t 2 RESOLUTION AMENDING 2009 RIVERCENTRE COMPLEX BUDGET FUND 900 a REFLECTING THE REFINANCING OF HR4 DEBT, AUTHORIZING PARKING RAMP REPAIR, AND REALLOCATING a THE 2009 RIVERCENTRE BUDGET TO PROPERLY SEGREGATE EXPENDITURES FOR REPORTING PURPOSES s s WHEREAS, the Housing and Redevelopment Authority is executing Tarz Exempt Lease Revenue Refunding Bonds � to refund the 2U00 HRA Lease Parking Facility Bands and to provide $2 million for deferred maintertance a to the Cityrowned RiverCentre Parking Facility; and s �o WHEREAS, HRA resolution #09-0/83, amended the financing and spending plans of the HRA Debt Service Fund, t� which authorized a trensfer of $2 million to the RiverCentre Parking Ramp Improvement Capital Prqect; and 12 ta WHEREAS, City as part of year end 2009 Budget authorizetl a Capital Allocation Agreement between the City, River Centre ta and MSE which includes $4,075,000 for 20�9; and 95 �s WHEREAS, financiai reporting standards require the 2009 RiverCenVe Adopted 4udget be reatlocated to t� properly segregate planned expenses for capital maintenance, debt and lease payments; and ta ts WHEREAS, the overall 2009 RiverCentre operating budget will not increase; zo z� WHEREAS, the Mayor, in accordance with Section'10.07.1 of the City Charter, certifies that there is $2 million 2z available for appropriation in the 2009 budget and recommends changes to the 2009 operating budget; and 23 2a THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor that 25 the 2009 Capital Improvement Budget as well as the RiverCentre 2009 operating budget be amended as follows: 26 27 28 Fund Aetivity Description Obje<t Description 29 � 37 Pinancina Plan 32 C09 2009 Capital Impmvement Projecfs 33 7R030--RiverGentre Parking Ramp Improvements 34 35 Total Financing Plan-Capital Prajects 36 3T Scendinq Plan 38 C09 2009 Capital Improvement Pmjeets 39 1R030—RiverCentre Parking Ramp Improvements 40 4'I ToWI Spentling Plan-Capital Prqects 42 Page t of 3 CURRENT AMENDED BUDGET CHANGES BUOGET Capital Accounts 7304 Tansfer from Debt Senice Fund 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 0899 OtherStmcfures 2,000,000.00 2,000000.00 2,000,000.00 2,000,000.00 Council File # �' ��� RESOLUTION CITY OF SAINT PAUL, MINNESOTA Pfesented By: Referred To: �reensneettt 3069309 Committee Date: as RiverCentre Fund 900 Gd Finaneina Plan 45 46 90D 20t05 47 900 20'106 48 90D 2Dt07 49 900 20708 SU 51 52 TotalFinancing Plan-FUnd 90f 53 % Soendinq Plan 55 900 20705 56 900 20t06 57 900 2010] 58 900 20108 59 900 20708 60 6t 900 20'10'i 62 900 20709 63 90a 20to4 BA 65 Total Spentling Plan-Fund 900 66 Exeess Sales Taz Cap Ma�ntenance-RiverCentre Cap Maintenance-Arena GenealPUntl Advante Repayment Exeess Sales Tax 0898 Building Improvements -Fu[ure(CapitalAl 4,0�5,000.00 (2,055,000.00) 2,020,000.00 Cap Maintenance-RiverCentre 0898 Builtling Improvements - River Centre . 890,000.00 890,�00.00 Cap Maintenance-Arena 0898 Building Improvements -Arena - 690,OOOAU 89Q000.00 Genersl Fund Advance Repayment 06�9 Other Interest Cosfs - 83,640.00 83,6G0.00 General Fund Ativance Repayment 0538 Repayment of Advance - �9t,360.00 191,360.00 Riv¢rCeMre 0549 OlherMiscellaneous 1,q40,338.00 �35QOOO.DO) t,090,338.00 Parking Ramp Impmvement Lease 0618 City Lease Payment to HRA—Interest - 749,525.00 t49,525.00 Parking Ramp Improvemeat lease 0628 Cily Lease Paymentlo HRA--Pri�cipal - 2�0,4T5.00 2�q475.00 �404 Releasetl Sales and Use Tax 1d04 Releasetl Sales and Use Tax tb04 Released Sales and Use Tax 7404 Released Sales antl Use Tax 4,075,a00.0o (2,055,000.00) 2,020,a00.00 - 890,00U.00 890,000.00 - 890,000.00 890,Oao.00 - 275,000.00 275,000.00 4,075,OOD.UU 4,U75,OU0.00 5,515,338.00 5,515,338.00 67 Comment: Amentlment esta6/ishes activities in F 900 to make 2009 City /ease payment fa HRA and acfivifies !or Gene2/ F�nd Advance Repayment, and 68 andRiverCenVeantlArenacapita/improvements Council File # �'��� � Presentetl By: Refenetl To: RESOLUTION C1TY OF SAINT PAUL, MITiNESOTA GreenSheet# 3069309 Commitlee Date: Page 3 of 3 RequesteA by Departrnent of: Adopted by Couneil: Date Atloption Certified by Coun<il Seeretary: B _ APProved b By: Office of the Mayor, Financial Services By: Approval Recommendetl by Oirector of Financial Services: ��/�/�9 s � ei���7_ir � Form Approved by City Attorney: . B ���Sa � !/�— 6y Mayor for Suhmis n to Coun 'I: ^r\��`-' `/V i Preparetlbymeo(fceorFinanaa�5ervices (glsM1ar¢Elbutlget1y20UT0]yearentlresolulionsalesWbontls) � Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet � h9- �{'(�7 cF , DepartmenUOffioe/Council: Date Initiated: FS _FinancialSernces 07-APR-09 � Green Sheet NO: 3069309 Conhc! Person 8 Phane: DepaTtrnem S erson I''a Da Bob Geurs o mancial services 270-5227 � 1 IFivanc�alServices entDirector I Assign 2 mancial Services ce Fin cial Services Must Be on Council Agenda by (Date): Number �i 'yi � 1SAPR-09 For 3 ityAttomev S _ Routing 4 a or`s Office Mavor/ASSis[ant Doc. Type: RESOLUTION W!$ Order 5 ouncil Citv Conncil TR4NSACTiON '� 6 itvClerk C' Clerk E-DocumeM Required: N Document Contact: Bob Geurs Contact Phone: 270-5227 Totaf # of Signature Pages _(Cfip All Loptions for Signature) Action Requested: Resolution amending the 2009 RiverCentre Complex budget F900 to reflect refinancing of I�I2.A Debt, authority to spend $2 million for deferred maintenance and seuign up other activities in F900 consistent with approved 2009 City budget. There is a second CiTy resolution (GS 3069310). Recommendations: Approve (A) or Rejed (R): Persona! Service Contrects Must Answer the following Quesfions: Pfanning 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 person/firtn possess a skill not normally possessed by any wrteirt city employee? Yes No F�cplain ali yes answers on separete sheet and attach to green sfieet. Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why): Budget amendment needed to accept $2M for deferred maintenace an RiverCentre Ramp budget lease, payment and established activiries previously approved by City Council. Advantages If Approved: RiverCentre will be able to have funds for repairs to RiverCentre Ramp. �°i���1VE� DisadvantagesifApproved: pQ3pg (,� ��G9 None laiown €�r 7� �I°� �°f�°�RN �isadvanWges !f Not Approved: Insufficient funds to make repairs. Tokal AmoufN of $2 �00,000.00 CostlRevenue Budgeted: N Transaction: Funding Source: HRA BOndS � Activity Number: Financial Infortnation: (F�cplain) Aprii 7. 2009 11:0� AM P��P 1 '/