Title
Amending the financing and spending plan in the Department of Parks and Recreation in the amount of $3,200,000 to reflect funds awarded from the Metropolitan Council for a state bonding pass through grant ($1,000,000) and to reflect Federal Grant funding awarded from the Department of Energy ($2,200,000) to be used for the first phase of the Como Geothermal Project.
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WHEREAS, the Department of Parks and Recreation has developed a spending plan for the overall Como Geothermal project in the amount of $15,994,196, including Phase I (Primates and Gorilla Building) which is projected at $4,400,000; and
WHEREAS, The City has been awarded a state bonding pass through grant through the Metropolitan Council in the amount of $1,000,000; and
WHEREAS, The City has received a Federal Earmark and is currently completing grant materials with the Department of Energy for a $2,200,000 grant; and
WHEREAS, the remainder of the Como Geothermal Project will be funded through the Local Option Sales Tax budgets for 2024 and 2025; and
WHEREAS, the $2,200,000 Federal grant has a matching requirement, which will be satisfied by the $1,000,000 State pass through grant along with $1,200,000 of the LOST Sales tax funding from 2024; and
WHEREAS, the Department of Parks and Recreation wishes to accept said grant funds, amend the financing and spending plan for the Como Geothermal Project Budget and enter into the corresponding grant agreements; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation, funds of $3,200,000 in excess of those estimated in the 2024 Capital Improvement Budget; now, therefore, be it
RESOLVED, by the City of Saint Paul City Council, upon recommendation of the Mayor and the advice of the Long Range Capital Improvement Budget Committee, that $3,200,000 is available for appropriation in the 2024 Capital Improvement Budget, and said 2024 budget, is heretofore adopted by the Council, is hereby amended as attached; and, be it
FURTHER RESOLVED, that Council authorizes the appropriate City officials to enter into an agreement with the U.S. Department of Energy for the aforementioned funding.
Financial Analysis
See Attachment
CIB Recommendation
The St. Paul Long-Range Capital Improvement Budget Committee reviewed this request on June 10, 2024 and recommended approval.