Title
Authorizing the execution of a business subsidy agreement for the Taste of Rondo project.
Body
WHEREAS, on May 23, 2018 the Neighborhood STAR Board reviewed a proposal for
a $100,000 loan and a $100,000 grant through the 2018 Neighborhood STAR Program to the Taste of Rondo project, located at 976 Concordia Avenue, Saint Paul, Minnesota (the “Project”); and
WHEREAS, on November 7, 2018 the Ward 1 Neighborhood STAR Year-Round Program authorized an additional $10,000 grant for the Project; and
WHEREAS, on December 12, 2018 the Neighborhood STAR Board reviewed the above proposal for an additional $10,000 grant through the 2018 Neighborhood STAR Year-Round Program to the Project; and
WHEREAS, the Neighborhood STAR Board rated the original request for $200,000 from the 2018 Neighborhood STAR Program a 3.38 on a scale from 1 (low) to 5 (high); and
WHEREAS, the Neighborhood STAR Board rated the additional request for $10,000 from the 2018 Neighborhood STAR Year-Round Program a 4.5 on a scale from 1 (low) to 5 (high); and
WHEREAS, on July 25, 2018 by RES 18-1143, the Mayor and the Saint Paul City Council authorized up to a $100,000 grant and a $100,000 loan to the Taste of Rondo restaurant through the Neighborhood STAR Program; and
WHEREAS, on December 19, 2018 by RES 18-2134, the Mayor and the Saint Paul City Council authorized an additional $10,000 grant to the Taste of Rondo restaurant through the Neighborhood STAR Year-Round Program; and
WHEREAS, on January 16, 2019, the City Council held a public hearing on the Business Subsidy Agreement, and after consideration of the Project, the City Council hereby determines there is a public purpose to take the actions described in and approved by this Resolution for the following reasons: the Project will rehabilitate a vacant structure, will provide availability of goods and services, and will create a minimum of two new jobs; now, therefore be it
RESOLVED, upon the recommendation of the Mayor, the...
Click here for full text