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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 City's sponsorship of a Metropolitan Council Livable Communities Demonstration Account Development Grant for the benefit of 30,000 Feet located at 1351 Arcade Street (District 5, Ward 5).
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WHEREAS, in RES 22-1157 the City Council of the City of Saint Paul resolved that the City may act as the legal sponsor in 30,000 Feet’s Development grant application and, thereby, authorized an application to the Metropolitan Council related to 30,000 Feet Development project of a facility located at 1351 Arcade Street (“Application”); and
WHEREAS, the Metropolitan Council accepted the Application and awarded the City a $495,000 Development grant for the benefit of 30,000 Feet (“Grant Funds”); and
WHEREAS, the Metropolitan Council Development 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 $495,000 in excess of those estimated in the operating budget; now, therefore, be it
RESOLVED by the City Council of the City of Saint Paul:
1. that upon the recommendation of the Mayor that the $495,000 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. that the City Council hereby authorizes and approves entering into a 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. that the City Council hereby authorizes and approves the City entering into a subgrant agreement(s) or loan documents with the redeveloper of 30,000 Feet, for the disbursement of the Grant Funds consistent with the Application, the Grant Agreement, and applicable compliance requirements.
4. that 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. that the 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. that 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.