Title
Approving the modification of Neighborhood STAR Program Funds for Twin Cities Housing Development Corporation.
Body
WHEREAS, on July 28, 2012 via Resolution #12-1305 , a Neighborhood STAR loan of $74,000 at 0%, with a 30 year deferral period was awarded to Twin Cities Housing Development Corporation (TCHDC) for major improvements to St. Alban's Park; and
WHEREAS, on March 13, 2013 the Neighborhood STAR Board reviewed a request on behalf of TCHDC to modifying the award to equal a $74,000 STAR grant; and
WHEREAS, the project will provide a much needed improvement that will make a considerable difference in Ward 1; and,
WHEREAS, as this proposal is of substantial community significance, it is the intent of the Mayor and the Saint Paul City Council to waive the STAR Board's recommendation and adjust the financing of this Neighborhood STAR Program award to all grant dollars; and,
RESOLVED, upon the recommendation of the Mayor, the Council of the City of Saint Paul hereby authorizes and directs the appropriate City officials to execute the necessary grant documents to implement this Resolution, subject to approval by the City Attorney; and be it
FINALLY RESOLVED, 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