Title
Approving the FY2011 Neighborhood STAR Loan and Grant Awards including business subsidy requirements.
Body
WHEREAS, on September 28, 1994, the City Council of the City of Saint Paul established the Neighborhood Sales Tax Revitalization (STAR) Program, C.F. 94-1127; and
WHEREAS, the Neighborhood STAR Program is financed in accordance with Minnesota Statutes, Chapter 297A, authorized by the State of Minnesota, Chapter No. 375, Sec. 46; and
WHEREAS, the purpose of the Neighborhood STAR Program is to fund capital improvements to further residential, commercial and economic development in the neighborhoods of St. Paul; and
WHEREAS, the Planning Commission, Capital Improvement Budget Committee, and city staff were given an opportunity to provide input into the review process: now therefore be it
RESOLVED, upon the recommendation of the Mayor, and with the advice of the Neighborhood STAR Board, the Council of the City of Saint Paul hereby approves funding of the Seventeenth Cycle Neighborhood STAR project as identified in Attachment A; and be it
FURTHER RESOLVED, that the Council hereby approves the corresponding changes to the FY2010 budget as listed in Attachment A at a public hearing; and be it
FURTHER RESOLVED, that the implementation of this business subsidy project identified for funding in the Seventeenth Cycle Neighborhood STAR Loan and Grant Program shall conform to Part 6, Awards and Implementation of the Neighborhood STAR Guidelines as updated in January, 2011; and be it
FINALLY RESOLVED, that the Mayor and City Council wish to extend their appreciation to all applicants, and especially to the Neighborhood STAR Board members for the commitment of their time, talent, and efforts on behalf of the STAR Program and the City of Saint Paul.