91-1479�RMG�NA�t
, � iCouncil File # ���/ ,t
I Gree� Sheat # �,�/ .
RESOLUTION i ,; '� y� � '
CITY OF S NT PAUL, MINNESOTJ4 . �
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Presented By /� ' _
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� Referred Tp.--�'' � � l-Q--�-nc�'ti' �� � �, � Comtnittee: Date /.3/9�
RESOLUTION AUTHORIZING THE EXECUTIaN
OF AN AGREEMENT WITH THE
PORT AUTHORITY OF THE CITY OF SAINT P,AUL
PERTAINING TO BOND ISSUANCE FEES -
WHEREAS �
1. The City of Saint Paul (the °City") adopted �ertain resolutions in
1987 setting forth certain priorities with respect to th� allocation of
issuance authority for tax-exempt industrial developmentlrevenue bonds, which
resolutions provided for the payment of a fee to the Cit� by the Port
Authority in connection with services provided to the Po�t Authority by the
City in the issuance of tax-exempt bonds; and I
2. The state of the economy and prohibitions onl,the use of tax-exempt
industrial development revenue bond financing are such tl�at very few tax-
exempt bonds are issued by either the Port Authority, th� City, or the Housing
and Redevelopment Authority of the City of Saint Paul, M�nnesota (the "HRA") ;
and �+'�-
3. A previously existing entitlement formula whe�reby the City was
authorized to issue tax-exempt industrial development rev�enue bond financing
pursuant to state statute has been modified; and
4. The Port Authority and the City have agreed tl�at the agreement
relating to the Port Authority's obligation to pay fees tlo the City (or its
HRA) on account of the issuance of tax-exempt industrial �levelopment revenue
bonds should be terminated; and
5. The Port Authority has previously approved th�s agreement.
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RESOLVED by the City Council that:
1. The Port Authority has no further right, du�y or obligation
pursuant to the City Council resolutions previously req�iiring the payment of a
fee to the City (or its HRA) in connection with the PorC Authority's issuance
of tax-exempt bonds except as specifically provided in �he staff report and in
the attached agreement.
2. The appropriate City officials are hereby a�thorized and directed
to execute an agreement in substantially the form attached hereto as Exhibit ,
A, setting forth this agreement. �
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Yeas Navs Absent Requested by Dep�artment of:
imon -�-.
�onw� z - '�Gt�'C\l c_ �- C�C_C:i�C?`(YV�C ��t/2�-
Macca ee �
et man — ;..�;;�:
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i son � -,.. By:
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Adopted by Council: Date
AUG i 5 19g� Form Approved by� c�ty "tor
Adoption_Certified by Council Secretary By, I���
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BY= , �' Approv d by Mayor for Submission to
Approved by Mayor: Date �,�,�j � g 1991 Council } I , I�,
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B �G���� By'
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PIbUSH€D �U� 2 4'91
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DEPARTMENT/OFFICE/COUNCIL DATE INITIATED �� ����; �� � �� � �
' � � �� GREEN SHE�T � _ ,.����� �
PEU 8591 „ M .
CONTACT PERSON&PHONE �DEPARTMENT DIRECTOR NI AL,/�E �CITY COUNCIL � ���
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ASSIGN CITYATTORNEY
Warren Hanson 3213 NUMBERFOR � ��"� �CITYCLERK ` `-�
MUST BE ON COUNCIL AGENDA BY(DATE) ROUTING �BUDGET DIRECTOR �FIN.�MOT SERYICES DIR.
8 6 91 for 8 13 91 meeti n ORDER �MAYOR(ORASSISTANn m PED ACCt11 �'�
TOTAL#OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE) 5(6) COU11C1� Research '
ACTION RE�UESTED:
Approval of agreement(s) regarding fees a�d ot��er obligations o�►�d to City by the Saint Paul
Pori Au�i:�ori�y, and au�tnoriz���; re-stated agr�ements on Westgate �Office and Industrial Park,
Saint �au1 Ho��e1 U�7AG �:�rti�iaa�ion Agreement, and Port Authority Bond fees
RECOMMENDATIONS:Approve(A)or Reject(R) PERSONAL SERVICE CONTRACTS MUST ANSWER THE FOLLOWING�UESTIONS:
_PLANNING COMMISSION _CIVIL SERVICE COMMISSION �• Has this personlfirm ever worked under a contrect for this department?
_CIB COMMITTEE YES NO I
2. Has this person/firm ever been a city employee?�
_STAFF
— YES . NO
_ DiSTaiCT COURT _ 3. Does this person/firm possess a skill not normaily possessed by any current city empioyeel
SUPPORTS WHICH COUNCIL OBJECTIVE7 YES NO
Explain all yes answers on separate sheet and�ttach to green aheet
INITIATING PROBLEM,ISSUE,OPPORTUNITY(Who,What,When,Where,Why):
Pl�nning and Economic Development (PED) and Sairi;; Pau1 Port Auth�rity have participated
financially in several projects in comr,ion. Past agreements for ecei�ic of.:• loan payments
and fees have been under dis�ute since 1981. Both sides have reCently worked hard :to:resolve-.
these disputes. The actions: requested of City Council herein permanently resolve these dispu es
ADVANTAQES IF APPROVED:
City/HftA �vill receive $724,OU0 from Port Authority in settlement 'of certain past due obligati �-
and agre�ment to rec�ive in exces's of $18 million over 25 years n deferred loan �ayments �' ��a,
and fees on various tax increment districts and Port Authority � ojects. Resolves disputed ,
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agreements going 5ack to 1981. �.;
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DISADVANTAGES IF APPROVED:
None
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DISADVANTACaES IF NOT APPROVED: ��;� '..r
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Less revenue to City/HRA, dispute over various inter-agency agre ments would continu� and
deplete staff time, and future projects in Westyate Office and Industrial ��r;c, Energy Park,
Selby Western would be threatened. c �;;��;{ �..�,�.-qE�,�F:� ������r
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� � AUG 0 � 1991
TOTAL AMOUNT OF TRANSACTION S �24�543 I I1COf112 COST/REVENUE BUOGETED( IRCLE ONE) YES NO
FUNDINGSOURCEUDAG, UDaG RLF, Pt0 Operations ACTIVITYNUMBER VdY' OUS
FINANCIAL INFORMATION:(EXPLAIN) „/�
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� � OF�jICE OF THE �ITY COUNCIL .� ``.
�sb. CITY HALL-7th FLOOR-SIAINT PAUL, MINNESOTA 55102 �
612-298-5506
TOM DIMOND
COUNCILMEMBER
Memblrs:
Tan imond, Chair
Paul� Maccabee
Davei 7hune RECEIVED
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Date: August 14, 1991 I aUG 1 5 199�`�``';'
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COMMITTEE REPORT �1TY CLER1�;.``��°
HOUSING AND ECONOMIC DEVELOPMENT COMMITTEE
1�' Resolution 91-1448 - approving the issuance of bon�s by the Port Authority of
the City of Saint Paul to jointly refinance a mul�i-family housing program
for the Kendrick Apartments in Energy Park (Referr d from Council 8-8-91) . �,
COMMITTEE RECOMMENDED APPROVAL, 3-0 �'
2. Minnesota Housing Finance Agency Application for F�nding Deferred Loan
Program - Phase VI (Referred from HRA 7-23-91).
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THIS ISSUE WAS LAID OVER TO THE AUGUST 28, 1991, H USING AND ECONOMIC �`s
DEVELOPMENT COMMITTEE MEETING (HRA)
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3. Authorization to provide financing for the Familie� First Program (Referred
from HRA 8-13-91) .
COMMITTEE RECOMMENDED APPROVAL AS AMENDED (HRA)
4. Resolution - regarding Neighborhood Partnership Program 16th Cycle.
� THIS ISSUE WAS LAID OVER TO THE AUGUST 28, 1991, HOUSING AND ECONOMIC
DEVELOPMENT COMMITTEE MEETING
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5. Resolution 91-1432 - approving the issuance of $65�,000 Tax Exempt Revenue-"�
� Bonds for the acquisition and renovation of 20,460 square foot facility for
Gilbert and Martha Thoele at 253 State Street in R�verview Industrial Park
(Referred from Council 8-6-91; on Council agenda 8-15-91) .
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COMMITTEE RECOMMENDED APPROVAL, 3-0 s:
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CHAIR: Housing and Redevelopment Authority & Housing and Econo ic Development Committee
COMMITTEES: Public Works & Intergovernmental elations
Printed on Recycled Paper `e�5 �
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HO � .YAND ��CONOMIC DEVELOPMENT COMMITTEE
, � y� • E REPORT - AUGUST 14, 1991
�'� PAGE THREE ' '.
13. Authorization to acquire three tax forfeit parcels: 769 Hague, 974 Hague,
751 Laurel , Summit-University District 8 (Referred from HRA 8-13-91) .
COMMITTEE RECOMMENDED APPROYAL, 3-0 {HRA)
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�itional Items
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��j.� Resolution 91-1477 - authorizing the execution of an agreement with the Port
�`'`� Authority of the City of Saint Paul pertaining to the Saint Paul Hotel
'�� (Referred from Council 8-13-91) .
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COMMITTEE RECOMMENDED APPROVAL, 3-0
15. Resolution 91-1478 - authorizing the pledge of Westgate Tax Increments to
� secure the Port Authority refinancing bonds and authorizing the Mayor to give
�.` public approval of certain of those bonds (Referred from Council 8-13-91) .
� COMMITTEE RECOMMENDED APPROVAL, 3-0
16. � Resolution 91-1479 - authorizing the execution of an agreement with the Port
� Authority of the City of Saint Paul pertaining to bond issuance fees
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� {Referred from Council 8-13-91) .
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:<. � COMMITTEE RECOMMENDED APPROVAL, 3-0
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