97-1165�r � � ' E�' 3
; �-- F ^�`., y .
t..j_ .� � .. �v"tr_
Council File # '� `
Green Skeet # 3q3C
C1TY
Presented
Referred
RESOLUTION
41NT PAUL, MI
��
Committee: Date
RESOLUTION CALLING FOR A PUBLIC HEARING BY THE
CITY COUNCIL OF THE CITY OF SAINT PAUL ON
(A) TAE MODIFICATION OF THE TAX INCREMENT FINANCING PLAN
FOR TIiE SEVENTH PLACE TAX INCREMENT FINANCING DISTRICT, AND (B) THE CREATION
OF THE BLOCK 4 REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT; AND
AUTHORIZING THE EXECUTION OF A MEMORANDi3M OF INTENT WITH
M[NNESOTA MIJTUAL LIFE INSURANCE COMPANY
10
il
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
WHEI2EAS:
1. On November 30,1978, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota
(the "HI2A") approved the Seventh Place Redevelopment Plan and the Project Financing Plan related thereto by
Resolution No. 78-11/30-1, to which the City Council of the City of Saint Paul (the "CounciP') subsequently gave
its approval by Resolution C.F. No. 272155 adopted on December 5, 1978. By Resolution No. 81-11/5-8 adopted
November 5, 1981 and Resolution No. 83-5/25-3 adopted May 25, 1983, the IIRA adopted modifications to such
plans which did not require approval of the Council, and by Resolution No. 82-1/28-11 adopted amendments to the
Redevelopment Plan and Project Pinancing Plan, which amendments were approved by the Council by Resolutions
C.F. No. 278173 and 278670 adopted February 4, 1982 and May 11, 1982. The Redevelopment Plan was again
amended and a Tax Increment Financing Plan for the Seventh Place Redevelopment Project was approved by the
III2A on November 9, 1989 by Resolution No. 89-1 U9-1, and approved by the Council by Resolution C.F. No. 89-
2028 adopted on November 9, 1989, and further amended on May 28, 1997 by Resolution No. 97-5/28-9, and
approved by the Council by Resolution C.F. No. 97-668.
2. Minnesota Mutual Life Insurance Company ("MMLIC") has committed to constructing an office
building consisting of not less than 350,�00 rentable square feet in a new office to�ver to be constructed in downtown
Saint Paul on the block bounded by Robert, Sixth, and Minnesota Streets and Seventh Place (the "Project Block"),
shown on the map attached hereto as E�ibit A which Project Block is adjacent to MNILIC's present corporate
headquarters;and
3. MNII,IC also plans to conshuct a parking ramp of no more than 1,000 spaces on the Project Block (the
o�ce tower and the parking ramp are collectively refened to as the "Project"); and
4. The Port Authority of the City of Saint Paul (the "Port Authority") shall acquire the Project Block,
demolish e�sting structures, remove or remediate any hazardous waste, and sell the Project Block to MNII,IC; and
1576004
g �.- tL�S
38 5. MMI�IC has indicated that they aze prepared to act as deve]oper and owner of the office tower and
39 parking ramp and to secure debt and equity financing for the Project; and
40
41
42
43
44
45
46
47
48
49
50
57
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
6. Construction of the Project wi11 retain MA�IL,IC's corporate headquarters in the City of Saint Paul,
thereby retaining 2,100 jobs in the City of Saint Paul, and MNvII,IC anticipates expanding its corporate headquarters
and creating approximately 2,000 additional jobs; and
7. In an effort to encourage the development and redevelopment of property in the Project area and
specifically, to provide for the acquisifion of land, demolition of structures, and the construction of the Project, it has
been proposed that the HRA establish the Block [4] Redevelopment Ta�c Increment Financing District (the "DislricY')
and that, in connection with the creation of the Distrlct, approve (� the tax increment financing plan relating thereto,
and (ii) an amendment to the TaY Increment Financing Plan for the Seventh Place TaY Increment Dishict
(collectively, the "Plans'�, all pursuant to and in accordance with Minnesota Statutes, Sections 469.001 through
469.047, inclusive; and Minnesota Statutes, Sections 469.174 through 469179, inclusive.
8. The District shall be formed by removing Block 4 from the Seventh Place Tax Increment District by
amending the Tas Increment Financing Plan for such district, and creating a new redevelopment district encompassing
Block 4.
9. It is proposed that the Council call for a public hearing regarding the Plans and direct that tHe Plans be
sent by the HI2A to the City of Saint Paul Planning Commission (the "Planning Commission") and the applicable
taxing jurisdictions.
10. City staff has negotiated a Memorandum of Intent (the "Memorandum of IntenY') to be entered into
by and among the City of Saint Paul, the IIRA, the Port Authority and MIvILIC for consideration by the Council.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Saint Paul, Minnesota (the
"City"), as follows:
1. Public HearinQ. This council shall meet on Wednesday, October 22, 1997, at approximately 43Q p.m.,
to hold a public hearing on the proposed Plans pursuant to and in accordance with Minnesota Statutes, Sections
469.OQ1 to 469.047 and Sections 469,174 to 469.174, inclusive, as amended, in an effort to encourage the
redevelopment of Block [4] within the City to provide for the conshuction of a 350,000 square foot office tower and
1,OOQ-stall parking ramp thereon.
2. Filing of Plans; Notice of Hearing. The HRA staff is hereby authorized to work with the Port Authority
to finalize the Plans, and is directed to forward the Plans upon completion to the appropriate taYing jurisdictions
including Ramsey County and Independent School District No. 625, and to the Planning Commission. The City Clerk
is authorized and directed to cause notice of the public hearing, substantially in the form attached hereto as
Attachment A, together with an appropriate map as required by law, to be published at least once in the official
newspaper of the City on October 10, 1997, and to place a copy of the Plans on file in the City Cierk's o�ce at City
Hall and to make such copies available for inspection by the public.
3. Memorandum of Intent. Approval is hereby given to the terms of the Memorandum of Intent, and
execution of the Memorandum of Intent by the Executive Director of Planning and Economic Development of the
City. Such approval includes approval of such additional details therein as may be necessary and appropriate, such
modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved
by the City Attomey, counsel, and appropriate City staff; and said City Attorney, counsel, and City staff are hereby
authorized to approve said changes and related instruments on behalf of the City upon determination by them that
such changes and related instrwnents are consistent with this Resolution and necessary or desirable to effectuate the
1576004
°i't-t►c�s
88
89
90
91
42
93
purposes hereof.
4. Negotiation of Develo�ment Agreement. Following execution of the Memorandum of Intent, HRA
staff is authorized to complete negotiations with representatives of the Port Authority and MMLIC to complete the
Development Agreement described in the Memorandum of Intent. The Development Agreement, when finalized,
shall be returned to the Council for consideration.
by Department of:
BY:
Adopted by Council: Date
Certified by Council Secretary
By �
Approved by Mayor:
�
BY� _ �
I576004
Date
['
v
Fo oved by City Attorney
By:
Approved b� f� Submission to Counci]
By: L� V Y Ss�--�
q'1- t �c.s
DEW1flTAENTi9FFICE/COUNCiI DATE INITIATED J�J � V�
rBD 9-16-97 GREEN SHEE
INRlA11DATE 7NfTIAWASE
CONTACT PERSON 8 PHONE O OEPqRTMENT DIqE O CRV COUNCIL
Tony Schertier (66543) p55�GN � GRV ATTORNEY O GTY GLERK
NUNBEHFOR
MU5T BE ON GOUNCIL AGENDA BY (DATE) pOUTING � BUDGET DIREC.TOA � FIN. & MG7. SERVIGES PIR.
� � � OflDER � MAYOR (OR ASSI5 ❑
TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE)
AGTION RE�UESTED:
Resoluuon r for a public hearin° by the City Council of the Ciry of Saint Paul on (A) ihe modification of the Tac Increment
Financing Plan for the Seventh Place Tae Increment Financing District , and (B) the creation of the Block 4 Redevelopment Tax
Increment Financing District; and authorizing the execution of a memorandum of intent with Minnesota Mutual Life Insurance
RE iDNS: Approve (A) or Feject (R) QERSONAL SERVICE CANTRACTS MUST ANSWER TNE fOLLOWING �UESTIONS:
_ PLANNING CAMMISSION _ CIVII SERVICE CAMMISSION �� Has this per5on/firm ever worked under a coMrec[ for this department?
__ CIB COMbtITTEE _ 1'ES NO
_ S7qFF 2. Has this perso�rm ever been a city employee?
— YES NO
_ �ISiRiC7 CoURT _ 3. Does this person/firm possess a skill not normally possessed 6y any current ciry employee?
SUPPoRTS WHICH COUNCIL OBJECTIVE7 YES NO
Explein all yes answers on separate ahcet and attaeh to green sheet
INRIATING PROBLEM, ISSUE.OPPORTUNITY(WhO. What, When. Where, Why):
Minnesota Mutual Life Insurance Company (MML) has decided to expand in downtown St. Paui by building an office tower. MML
intends to lend the City 14 million dollars to acquire the downzown block and MML will build a 350,000 square foot office tower with
a 1,000 pazking space ramp.
ADVANTAGESIFAPPROVED:
The creation of this Redevelopment Ta4 Increment District will provide one of the mechanisms for Minnesota Mutual to loan the money
to the City.
DISADVANTAGES IFAPPROVEO
DISADVANTACaES IF NOTAPPROVEO:
TOTAL AMOUN7 OF TRANSACTION $ COST/REVENUE BUDGETED (CIRCLE ONE) YES NO
FUNDIf7G SOURCE � ACTIYITY NUMBER
FlNANCIAL INFORFnATION. (E%PLAIN)
�r � � ' E�' 3
; �-- F ^�`., y .
t..j_ .� � .. �v"tr_
Council File # '� `
Green Skeet # 3q3C
C1TY
Presented
Referred
RESOLUTION
41NT PAUL, MI
��
Committee: Date
RESOLUTION CALLING FOR A PUBLIC HEARING BY THE
CITY COUNCIL OF THE CITY OF SAINT PAUL ON
(A) TAE MODIFICATION OF THE TAX INCREMENT FINANCING PLAN
FOR TIiE SEVENTH PLACE TAX INCREMENT FINANCING DISTRICT, AND (B) THE CREATION
OF THE BLOCK 4 REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT; AND
AUTHORIZING THE EXECUTION OF A MEMORANDi3M OF INTENT WITH
M[NNESOTA MIJTUAL LIFE INSURANCE COMPANY
10
il
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
WHEI2EAS:
1. On November 30,1978, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota
(the "HI2A") approved the Seventh Place Redevelopment Plan and the Project Financing Plan related thereto by
Resolution No. 78-11/30-1, to which the City Council of the City of Saint Paul (the "CounciP') subsequently gave
its approval by Resolution C.F. No. 272155 adopted on December 5, 1978. By Resolution No. 81-11/5-8 adopted
November 5, 1981 and Resolution No. 83-5/25-3 adopted May 25, 1983, the IIRA adopted modifications to such
plans which did not require approval of the Council, and by Resolution No. 82-1/28-11 adopted amendments to the
Redevelopment Plan and Project Pinancing Plan, which amendments were approved by the Council by Resolutions
C.F. No. 278173 and 278670 adopted February 4, 1982 and May 11, 1982. The Redevelopment Plan was again
amended and a Tax Increment Financing Plan for the Seventh Place Redevelopment Project was approved by the
III2A on November 9, 1989 by Resolution No. 89-1 U9-1, and approved by the Council by Resolution C.F. No. 89-
2028 adopted on November 9, 1989, and further amended on May 28, 1997 by Resolution No. 97-5/28-9, and
approved by the Council by Resolution C.F. No. 97-668.
2. Minnesota Mutual Life Insurance Company ("MMLIC") has committed to constructing an office
building consisting of not less than 350,�00 rentable square feet in a new office to�ver to be constructed in downtown
Saint Paul on the block bounded by Robert, Sixth, and Minnesota Streets and Seventh Place (the "Project Block"),
shown on the map attached hereto as E�ibit A which Project Block is adjacent to MNILIC's present corporate
headquarters;and
3. MNII,IC also plans to conshuct a parking ramp of no more than 1,000 spaces on the Project Block (the
o�ce tower and the parking ramp are collectively refened to as the "Project"); and
4. The Port Authority of the City of Saint Paul (the "Port Authority") shall acquire the Project Block,
demolish e�sting structures, remove or remediate any hazardous waste, and sell the Project Block to MNII,IC; and
1576004
g �.- tL�S
38 5. MMI�IC has indicated that they aze prepared to act as deve]oper and owner of the office tower and
39 parking ramp and to secure debt and equity financing for the Project; and
40
41
42
43
44
45
46
47
48
49
50
57
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
6. Construction of the Project wi11 retain MA�IL,IC's corporate headquarters in the City of Saint Paul,
thereby retaining 2,100 jobs in the City of Saint Paul, and MNvII,IC anticipates expanding its corporate headquarters
and creating approximately 2,000 additional jobs; and
7. In an effort to encourage the development and redevelopment of property in the Project area and
specifically, to provide for the acquisifion of land, demolition of structures, and the construction of the Project, it has
been proposed that the HRA establish the Block [4] Redevelopment Ta�c Increment Financing District (the "DislricY')
and that, in connection with the creation of the Distrlct, approve (� the tax increment financing plan relating thereto,
and (ii) an amendment to the TaY Increment Financing Plan for the Seventh Place TaY Increment Dishict
(collectively, the "Plans'�, all pursuant to and in accordance with Minnesota Statutes, Sections 469.001 through
469.047, inclusive; and Minnesota Statutes, Sections 469.174 through 469179, inclusive.
8. The District shall be formed by removing Block 4 from the Seventh Place Tax Increment District by
amending the Tas Increment Financing Plan for such district, and creating a new redevelopment district encompassing
Block 4.
9. It is proposed that the Council call for a public hearing regarding the Plans and direct that tHe Plans be
sent by the HI2A to the City of Saint Paul Planning Commission (the "Planning Commission") and the applicable
taxing jurisdictions.
10. City staff has negotiated a Memorandum of Intent (the "Memorandum of IntenY') to be entered into
by and among the City of Saint Paul, the IIRA, the Port Authority and MIvILIC for consideration by the Council.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Saint Paul, Minnesota (the
"City"), as follows:
1. Public HearinQ. This council shall meet on Wednesday, October 22, 1997, at approximately 43Q p.m.,
to hold a public hearing on the proposed Plans pursuant to and in accordance with Minnesota Statutes, Sections
469.OQ1 to 469.047 and Sections 469,174 to 469.174, inclusive, as amended, in an effort to encourage the
redevelopment of Block [4] within the City to provide for the conshuction of a 350,000 square foot office tower and
1,OOQ-stall parking ramp thereon.
2. Filing of Plans; Notice of Hearing. The HRA staff is hereby authorized to work with the Port Authority
to finalize the Plans, and is directed to forward the Plans upon completion to the appropriate taYing jurisdictions
including Ramsey County and Independent School District No. 625, and to the Planning Commission. The City Clerk
is authorized and directed to cause notice of the public hearing, substantially in the form attached hereto as
Attachment A, together with an appropriate map as required by law, to be published at least once in the official
newspaper of the City on October 10, 1997, and to place a copy of the Plans on file in the City Cierk's o�ce at City
Hall and to make such copies available for inspection by the public.
3. Memorandum of Intent. Approval is hereby given to the terms of the Memorandum of Intent, and
execution of the Memorandum of Intent by the Executive Director of Planning and Economic Development of the
City. Such approval includes approval of such additional details therein as may be necessary and appropriate, such
modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved
by the City Attomey, counsel, and appropriate City staff; and said City Attorney, counsel, and City staff are hereby
authorized to approve said changes and related instruments on behalf of the City upon determination by them that
such changes and related instrwnents are consistent with this Resolution and necessary or desirable to effectuate the
1576004
°i't-t►c�s
88
89
90
91
42
93
purposes hereof.
4. Negotiation of Develo�ment Agreement. Following execution of the Memorandum of Intent, HRA
staff is authorized to complete negotiations with representatives of the Port Authority and MMLIC to complete the
Development Agreement described in the Memorandum of Intent. The Development Agreement, when finalized,
shall be returned to the Council for consideration.
by Department of:
BY:
Adopted by Council: Date
Certified by Council Secretary
By �
Approved by Mayor:
�
BY� _ �
I576004
Date
['
v
Fo oved by City Attorney
By:
Approved b� f� Submission to Counci]
By: L� V Y Ss�--�
q'1- t �c.s
DEW1flTAENTi9FFICE/COUNCiI DATE INITIATED J�J � V�
rBD 9-16-97 GREEN SHEE
INRlA11DATE 7NfTIAWASE
CONTACT PERSON 8 PHONE O OEPqRTMENT DIqE O CRV COUNCIL
Tony Schertier (66543) p55�GN � GRV ATTORNEY O GTY GLERK
NUNBEHFOR
MU5T BE ON GOUNCIL AGENDA BY (DATE) pOUTING � BUDGET DIREC.TOA � FIN. & MG7. SERVIGES PIR.
� � � OflDER � MAYOR (OR ASSI5 ❑
TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE)
AGTION RE�UESTED:
Resoluuon r for a public hearin° by the City Council of the Ciry of Saint Paul on (A) ihe modification of the Tac Increment
Financing Plan for the Seventh Place Tae Increment Financing District , and (B) the creation of the Block 4 Redevelopment Tax
Increment Financing District; and authorizing the execution of a memorandum of intent with Minnesota Mutual Life Insurance
RE iDNS: Approve (A) or Feject (R) QERSONAL SERVICE CANTRACTS MUST ANSWER TNE fOLLOWING �UESTIONS:
_ PLANNING CAMMISSION _ CIVII SERVICE CAMMISSION �� Has this per5on/firm ever worked under a coMrec[ for this department?
__ CIB COMbtITTEE _ 1'ES NO
_ S7qFF 2. Has this perso�rm ever been a city employee?
— YES NO
_ �ISiRiC7 CoURT _ 3. Does this person/firm possess a skill not normally possessed 6y any current ciry employee?
SUPPoRTS WHICH COUNCIL OBJECTIVE7 YES NO
Explein all yes answers on separate ahcet and attaeh to green sheet
INRIATING PROBLEM, ISSUE.OPPORTUNITY(WhO. What, When. Where, Why):
Minnesota Mutual Life Insurance Company (MML) has decided to expand in downtown St. Paui by building an office tower. MML
intends to lend the City 14 million dollars to acquire the downzown block and MML will build a 350,000 square foot office tower with
a 1,000 pazking space ramp.
ADVANTAGESIFAPPROVED:
The creation of this Redevelopment Ta4 Increment District will provide one of the mechanisms for Minnesota Mutual to loan the money
to the City.
DISADVANTAGES IFAPPROVEO
DISADVANTACaES IF NOTAPPROVEO:
TOTAL AMOUN7 OF TRANSACTION $ COST/REVENUE BUDGETED (CIRCLE ONE) YES NO
FUNDIf7G SOURCE � ACTIYITY NUMBER
FlNANCIAL INFORFnATION. (E%PLAIN)
�r � � ' E�' 3
; �-- F ^�`., y .
t..j_ .� � .. �v"tr_
Council File # '� `
Green Skeet # 3q3C
C1TY
Presented
Referred
RESOLUTION
41NT PAUL, MI
��
Committee: Date
RESOLUTION CALLING FOR A PUBLIC HEARING BY THE
CITY COUNCIL OF THE CITY OF SAINT PAUL ON
(A) TAE MODIFICATION OF THE TAX INCREMENT FINANCING PLAN
FOR TIiE SEVENTH PLACE TAX INCREMENT FINANCING DISTRICT, AND (B) THE CREATION
OF THE BLOCK 4 REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT; AND
AUTHORIZING THE EXECUTION OF A MEMORANDi3M OF INTENT WITH
M[NNESOTA MIJTUAL LIFE INSURANCE COMPANY
10
il
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
WHEI2EAS:
1. On November 30,1978, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota
(the "HI2A") approved the Seventh Place Redevelopment Plan and the Project Financing Plan related thereto by
Resolution No. 78-11/30-1, to which the City Council of the City of Saint Paul (the "CounciP') subsequently gave
its approval by Resolution C.F. No. 272155 adopted on December 5, 1978. By Resolution No. 81-11/5-8 adopted
November 5, 1981 and Resolution No. 83-5/25-3 adopted May 25, 1983, the IIRA adopted modifications to such
plans which did not require approval of the Council, and by Resolution No. 82-1/28-11 adopted amendments to the
Redevelopment Plan and Project Pinancing Plan, which amendments were approved by the Council by Resolutions
C.F. No. 278173 and 278670 adopted February 4, 1982 and May 11, 1982. The Redevelopment Plan was again
amended and a Tax Increment Financing Plan for the Seventh Place Redevelopment Project was approved by the
III2A on November 9, 1989 by Resolution No. 89-1 U9-1, and approved by the Council by Resolution C.F. No. 89-
2028 adopted on November 9, 1989, and further amended on May 28, 1997 by Resolution No. 97-5/28-9, and
approved by the Council by Resolution C.F. No. 97-668.
2. Minnesota Mutual Life Insurance Company ("MMLIC") has committed to constructing an office
building consisting of not less than 350,�00 rentable square feet in a new office to�ver to be constructed in downtown
Saint Paul on the block bounded by Robert, Sixth, and Minnesota Streets and Seventh Place (the "Project Block"),
shown on the map attached hereto as E�ibit A which Project Block is adjacent to MNILIC's present corporate
headquarters;and
3. MNII,IC also plans to conshuct a parking ramp of no more than 1,000 spaces on the Project Block (the
o�ce tower and the parking ramp are collectively refened to as the "Project"); and
4. The Port Authority of the City of Saint Paul (the "Port Authority") shall acquire the Project Block,
demolish e�sting structures, remove or remediate any hazardous waste, and sell the Project Block to MNII,IC; and
1576004
g �.- tL�S
38 5. MMI�IC has indicated that they aze prepared to act as deve]oper and owner of the office tower and
39 parking ramp and to secure debt and equity financing for the Project; and
40
41
42
43
44
45
46
47
48
49
50
57
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
6. Construction of the Project wi11 retain MA�IL,IC's corporate headquarters in the City of Saint Paul,
thereby retaining 2,100 jobs in the City of Saint Paul, and MNvII,IC anticipates expanding its corporate headquarters
and creating approximately 2,000 additional jobs; and
7. In an effort to encourage the development and redevelopment of property in the Project area and
specifically, to provide for the acquisifion of land, demolition of structures, and the construction of the Project, it has
been proposed that the HRA establish the Block [4] Redevelopment Ta�c Increment Financing District (the "DislricY')
and that, in connection with the creation of the Distrlct, approve (� the tax increment financing plan relating thereto,
and (ii) an amendment to the TaY Increment Financing Plan for the Seventh Place TaY Increment Dishict
(collectively, the "Plans'�, all pursuant to and in accordance with Minnesota Statutes, Sections 469.001 through
469.047, inclusive; and Minnesota Statutes, Sections 469.174 through 469179, inclusive.
8. The District shall be formed by removing Block 4 from the Seventh Place Tax Increment District by
amending the Tas Increment Financing Plan for such district, and creating a new redevelopment district encompassing
Block 4.
9. It is proposed that the Council call for a public hearing regarding the Plans and direct that tHe Plans be
sent by the HI2A to the City of Saint Paul Planning Commission (the "Planning Commission") and the applicable
taxing jurisdictions.
10. City staff has negotiated a Memorandum of Intent (the "Memorandum of IntenY') to be entered into
by and among the City of Saint Paul, the IIRA, the Port Authority and MIvILIC for consideration by the Council.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Saint Paul, Minnesota (the
"City"), as follows:
1. Public HearinQ. This council shall meet on Wednesday, October 22, 1997, at approximately 43Q p.m.,
to hold a public hearing on the proposed Plans pursuant to and in accordance with Minnesota Statutes, Sections
469.OQ1 to 469.047 and Sections 469,174 to 469.174, inclusive, as amended, in an effort to encourage the
redevelopment of Block [4] within the City to provide for the conshuction of a 350,000 square foot office tower and
1,OOQ-stall parking ramp thereon.
2. Filing of Plans; Notice of Hearing. The HRA staff is hereby authorized to work with the Port Authority
to finalize the Plans, and is directed to forward the Plans upon completion to the appropriate taYing jurisdictions
including Ramsey County and Independent School District No. 625, and to the Planning Commission. The City Clerk
is authorized and directed to cause notice of the public hearing, substantially in the form attached hereto as
Attachment A, together with an appropriate map as required by law, to be published at least once in the official
newspaper of the City on October 10, 1997, and to place a copy of the Plans on file in the City Cierk's o�ce at City
Hall and to make such copies available for inspection by the public.
3. Memorandum of Intent. Approval is hereby given to the terms of the Memorandum of Intent, and
execution of the Memorandum of Intent by the Executive Director of Planning and Economic Development of the
City. Such approval includes approval of such additional details therein as may be necessary and appropriate, such
modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved
by the City Attomey, counsel, and appropriate City staff; and said City Attorney, counsel, and City staff are hereby
authorized to approve said changes and related instruments on behalf of the City upon determination by them that
such changes and related instrwnents are consistent with this Resolution and necessary or desirable to effectuate the
1576004
°i't-t►c�s
88
89
90
91
42
93
purposes hereof.
4. Negotiation of Develo�ment Agreement. Following execution of the Memorandum of Intent, HRA
staff is authorized to complete negotiations with representatives of the Port Authority and MMLIC to complete the
Development Agreement described in the Memorandum of Intent. The Development Agreement, when finalized,
shall be returned to the Council for consideration.
by Department of:
BY:
Adopted by Council: Date
Certified by Council Secretary
By �
Approved by Mayor:
�
BY� _ �
I576004
Date
['
v
Fo oved by City Attorney
By:
Approved b� f� Submission to Counci]
By: L� V Y Ss�--�
q'1- t �c.s
DEW1flTAENTi9FFICE/COUNCiI DATE INITIATED J�J � V�
rBD 9-16-97 GREEN SHEE
INRlA11DATE 7NfTIAWASE
CONTACT PERSON 8 PHONE O OEPqRTMENT DIqE O CRV COUNCIL
Tony Schertier (66543) p55�GN � GRV ATTORNEY O GTY GLERK
NUNBEHFOR
MU5T BE ON GOUNCIL AGENDA BY (DATE) pOUTING � BUDGET DIREC.TOA � FIN. & MG7. SERVIGES PIR.
� � � OflDER � MAYOR (OR ASSI5 ❑
TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE)
AGTION RE�UESTED:
Resoluuon r for a public hearin° by the City Council of the Ciry of Saint Paul on (A) ihe modification of the Tac Increment
Financing Plan for the Seventh Place Tae Increment Financing District , and (B) the creation of the Block 4 Redevelopment Tax
Increment Financing District; and authorizing the execution of a memorandum of intent with Minnesota Mutual Life Insurance
RE iDNS: Approve (A) or Feject (R) QERSONAL SERVICE CANTRACTS MUST ANSWER TNE fOLLOWING �UESTIONS:
_ PLANNING CAMMISSION _ CIVII SERVICE CAMMISSION �� Has this per5on/firm ever worked under a coMrec[ for this department?
__ CIB COMbtITTEE _ 1'ES NO
_ S7qFF 2. Has this perso�rm ever been a city employee?
— YES NO
_ �ISiRiC7 CoURT _ 3. Does this person/firm possess a skill not normally possessed 6y any current ciry employee?
SUPPoRTS WHICH COUNCIL OBJECTIVE7 YES NO
Explein all yes answers on separate ahcet and attaeh to green sheet
INRIATING PROBLEM, ISSUE.OPPORTUNITY(WhO. What, When. Where, Why):
Minnesota Mutual Life Insurance Company (MML) has decided to expand in downtown St. Paui by building an office tower. MML
intends to lend the City 14 million dollars to acquire the downzown block and MML will build a 350,000 square foot office tower with
a 1,000 pazking space ramp.
ADVANTAGESIFAPPROVED:
The creation of this Redevelopment Ta4 Increment District will provide one of the mechanisms for Minnesota Mutual to loan the money
to the City.
DISADVANTAGES IFAPPROVEO
DISADVANTACaES IF NOTAPPROVEO:
TOTAL AMOUN7 OF TRANSACTION $ COST/REVENUE BUDGETED (CIRCLE ONE) YES NO
FUNDIf7G SOURCE � ACTIYITY NUMBER
FlNANCIAL INFORFnATION. (E%PLAIN)