Title
Approving grant funds through the Citywide Neighborhood STAR Year-Round Program for the Lost and Foundry Metal Shed Project in the Schmidt Artists Lofts.
Body
WHEREAS, on October 14, 2015, the Neighborhood STAR Board reviewed a Neighborhood STAR Year-Round grant request from the Saint Paul Leased Housing Associates IV Limited Partnership to assist with expenditures related to enclosing and providing utilities and thermal protection to the space to be completed by the Lost and Foundry Project; and
WHEREAS, the Neighborhood STAR Board rated the Lost and Foundry Project a 4.1 on a scale from 1 (low) to 5 (high); and
WHEREAS, because this proposal is of substantial community signficance, a waiver of the STAR Guidelines prohibiting the financing of existing debt and requiring a $1 for $1 match is recommended; and
WHEREAS, it is the intent of the Mayor and the Saint Paul City Council to participate in the financing of this activity by providing up to $120,429 in grant financing through the City Wide Neighborhood STAR Year-Round Program to this proposal; now, therefore, be it
RESOLVED, that as recommended by the Mayor, the Council of the City of Saint Paul hereby authorizes and directs the appropriate City officials to execute the necessary documents to implement this Resolution, subject to approval by the City Attorney; and be it
FINALLY RESOLVED, that staff of the Department of Planning and Economic Development are further authorized and directed to proceed with all other actions necessary to implement this Resolution.