96-584��IC������
RESOLUTION
SAINT PAUL, M
Presented
Referred
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By:
WHEREAS, on July 13, 1994, the City Council of the City of Saint Paul established the Cultural Capital
Investment (Cultural STAR) Program, C.F. 94-1005; and
WHEREAS, the Cultural STAR Program is funded with ten percent of an additional one-half of one
percent sales tax on sales transactions that occur within the city, pursuant to Minnesota Statutes, Chapter
297A, authorized by the State of Minnesota, Chapter No. 375, Sec.46; and
WAEREAS, the purpose of the Cultural STAR Program is to fund capital projects to further cultural
activities; and
WHEREAS, funding for the "Cultural District STAR Loan Program" was authorized in Resolution 96-
567;
NOW, TAEREFORE, BE IT RESOLVED, that the City Council approves the attached guidelines for the operation
of the "Cultural District STAR Loan Program".
B a� ce�
aostrom
Guerin
Harris
Meaa�
Rettman
T un�
Adopted by Council:
Date 5�,,,r 5 ,�`
Adoption Certified by Council Secretary
BY � � � . I�i iy� � - �Zr�y
Approved by Mayor: Date - lb
BY � � � SC2�
Council File # V� S �"'
Green Sheet # ��,5
itil
Committee: Date
Department of:
Form Approved by City Attorney
B �r�����( Sl�ta
Approve y Mayor for b ission to
Counci
By:
Q l.- SP4
DEPARTMENT/OFFICE/COUNCIL DATE INITIATEp /,, � ��J ° 3 4 5 5 5
��,A� �N&PHONE � � �`v GREEN SHEE _ _-
INITIAVDATE INITIAVDATE
O DEPARTMEMOIRECfOR � CRYCOUNdL
�(�� u(1(1[p J,e�iy� ASSIGN OCRVATTORNEV �CfTYCIEFK
MUST BE ON COUNCIL AGENDA BY (DAT� pQ�pG� O BUDGET DIRECTOR � FIN. 8 MGT. SERVICES �IR.
. Di1DER O MAYOR (OFi ASSISTAIiTI �
TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS POR SiGNATURE)
ACTION REQUESTED:
f�PTtax� O� LtJLi1J1�Prt.- Di�TP-cc� �RR— �A� PR-��'— C�cTtDE2�R�
� PEWMMENDASIONS: Approve (A) or Reject lR) PERSONAL SERVICE CONTFiAC7S MUST ANSWER TNE FOLLOWING �UESTIONS:
_ PLANNING COMMISSION _ CNIL SERVICE CAMMISSION 1. Has this persoMfirm ever worked under a contrect for Mis departrnent?
_ CIB CAMMfiTEE _ YES NO
_ STAFF 2. Has Mis person�rm ever been a city employee?
— YES NO
_ DISTRIC7 COUR7 _ 3. Does lhis perso�rm possess a skill not normally possessed by any current city employee?
SUPPORTS WHICH COUNCIL OBJECTIVE? YES NO
Explain all yea answers on seperate sheet and ettach to green sheet
INITIATING PtiOBLEM, ISSUE, OPPORTUNITY (Who, What, When, Where, Why).
l_�L ��"`�°" _ ���Gt�^.".—�
ADVANTAGESIFAPPROVED: '
��P�ec�f�lB�s � zort,.� ��'�a-- � i� ��—�
DISAWANTAGES iF APPflOVED:
Nv ^ir�
DISADVANTAGES IF NOT APPROVED:
p ��� . �sJ� [� �� �
TOTAL AMOUNT OF TRANSACTION $ �� COST/REVENUE BUDGE7EU (CIRCLE ONE) YES NO
PUNDIfdG SOURCE ACTIVITY NUMBER
FINANCIAL INFORMATION: (EXPLAIN)
Pt ME N�p E A 9� °►�.-s�y
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Cultural District STAR Loan Program
This loan program will be governed by the following guidelines:
1. Ali projects funded through this pilot loan program must adhere to the Cultural STAR
guidelines.
2. In addirion projects must be located within the cultural district and must generally
support visitor amenities, sueet level activity, and downtown vitality.
3. Appiicants not receiving full funding in Cycle II will be notified of loan availability
and will receive priority if they respond within 30 days of notificarion .
4. The Cultural STAR Board will review and comment on loan requests.
5. All terms and conditions of the loans will be reviewed by the PED Credit Committee
and the loans wiil be risk rated. The loan portfolio wiil adhere to the program goals
of 80% return to the Cultural STAR fund.
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7. The Business Resource Center will actively market the funds availability to businesses
that aze or will locate within the Cultural District.
8. 7ohn Labosky of the Capitai City Partnership wiil be approached to see if the use of
these funds within the Cultural District can be coordinated with the Capital City
Partnership's efforts to pxomote downtown and restore vitality to the central core.