Title
Amending the City's Operating Budget to establish a spending and financing budget for the implementation and administration of the City's Rent Stabilization Ordinance in the Department of Safety and Inspections, City Attorney's Office and City Council.
Body
WHEREAS, a petition seeking an initiative to adopt Chapter 193A of the Saint Paul Legislative Code to adopt a Rent Stabilization ordinance was filed with the Office of the City Clerk on June 22, 2021 (the “Petition”); and
WHEREAS, on July 14, 2021, the City Council adopted RES 21-968 adopting the report of Ramsey County Elections finding that the Petition for an initiative to adopt Chapter 193A of the Legislative Code is sufficient; and
WHEREAS, on August 18, 2021, the City Council adopted RES 21-1157 directing the City Clerk to notify the County Auditor to place an initiative regarding whether to adopt the proposed Residential Rent Stabilization ordinance on the November 2, 2021 ballot and approving the title and language for that ballot question; and
WHEREAS, on November 2, 2021, the ballot question was approved by the voters; and
WHEREAS, the City has determined that a budget is needed in the Department of Safety and Inspections, City Attorney's Office and City Council to implement and administer the ordinance; and
WHEREAS, the City’s Operating budget needs to be amended to recognize projected excess tax revenues and reflect the implementation and administration costs; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, certifies that there available for appropriation total revenues in excess of those estimated in the budget in the amount of $635,527 that may be appropriated; NOW
THEREFORE, BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor that $635,527 is available for appropriation, the City’s Operating Budget, as heretofore adopted by Council, is hereby further amended by the particulars as specified in the attached financial analysis.
Financial Analysis
See Attachment