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Accepting grant funds, authorizing execution of a grant agreement (with indemnity obligations and other documents related thereto), and amending the operating budget with respect to the Metropolitan Livable Communities Fund a Local Housing Incentives Account Grant Program for Aeon at 438 Dorothy Day Place (District 17, Ward 2).
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WHEREAS, the Metropolitan Council has awarded a $1,159,382 grant to the City of Saint Paul under its Local Housing Incentives Account to the Mary Hall affordable housing project located at 438 Dorothy Day Place in the City of Saint Paul, Minnesota;
WHEREAS, the Metropolitan Livable Communities Act (“LCA”) Local Housing Incentives Account grant contract (“Grant Agreement”) requires the City to indemnify Metropolitan Council; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Saint Paul City Charter, does certify that there are available for appropriation funds of $1,159,382 in excess of those estimated in the operating budget; now, therefore, be it
RESOLVED by Saint Paul City Council:
1. Upon the recommendation of the mayor that the $1,159,382 is available for appropriation in the Operating Budget, the City Council hereby authorizes and approves said budget, as heretofore adopted by the City Council, to be amended as outlined in the attached financial analysis.
2. the City Council hereby authorizes and approves entering into the Grant Agreement with the Metropolitan Council which includes an indemnification clause to accept and implement the Grant Funds consistent with the Application and applicable compliance requirements.
3. the City Council hereby authorizes and approves the City entering into a subgrant agreement(s) or loan documents with the redeveloper of the site, Aeon (or another entity owned and controlled by it that has an interest in the subject property), for the disbursement of the Grant Funds consistent with the Application, the Grant Agreement, and applicable compliance requirements.
4. the City Council hereby authorizes and approves City staff to take all actions necessary to carry out the activities authorized by this Resolution, including finalizing all documents and agreements necessary to effectuate the activities to be undertaken by this Resolution, subject to approval by the City Attorney’s Office.
5. Proper City officials are hereby authorized and approved to execute any and all documents in connection with this Resolution, subject to approval by the City Attorney’s Office.
6. This Resolution does not constitute a binding legal agreement; rather, the action taken herein shall not be effective until said documents are executed by the appropriate official(s) of the City.