Title
Authorizing the City to approve the amendment to reduce Padelford Packet Company’s 2020 contractual payment to City.
Body
WHEREAS, the City and Padelford entered into an Agreement on January 1, 2008 for the licensing of charter and excursion boats on the Mississippi and its tributaries which terminates on December 31, 2048; and
WHEREAS, that agreement requires Padelford pay the City the greater of five percent (5%) of gross receipts generated from its operations; and
WHEREAS, Minnesota’s Emergency Executive Order 20-01 Declaring a Peacetime Emergency and Coordinating Minnesota's Strategy to Protect Minnesotans from COVID-19 severely impacted Padelford’s operations; and
WHEREAS, Padelford wishes to amend the Agreement to allow for a one-year reduction in payment to the City.
WHEREAS, Parks has reviewed year-over-year revenue and projections from Padelford and believes a payment reduction to be in the public good; and
WHEREAS, the City Council finds that the Padelford Packet Company is a unique Saint Paul business with a long and successful partnership with the City, that is experiencing financial hardship as a result of the COVID-19 pandemic, and that supporting it during this difficult time serves a public purpose by helping to ensure it can continue to serve the Saint Paul community into the future.
THEREFORE, BE IT RESOLVED, that the City Council of the City of Saint Paul authorizes the appropriate City officials to enter into the attached Amendment.