Title
Amending the City’s 2024 Capital Improvement Budget to allocate $6,789,929.00 of HOME-ARP funds.
Body
WHEREAS, on April 7, 2021, the Saint Paul City Council (“Council”) adopted Resolution 21-490 (the “2021 Resolution”), authorizing the submission of the 2021-22 Consolidated Plan-Annual Action Plan (“Consolidated Plan”) to the U.S. Department of Housing and Urban Development (HUD).
WHEREAS, on April 11, 2021 HUD allocated the sum of $6,789,929 in HOME-ARP funding to the City of Saint Paul (“City”) to address homeless assistance needs by creating affordable housing; and
WHEREAS, the City now intends to use the HOME-ARP funding to purchase and rehabilitate a property located in the City at 268 Marshall Avenue, for the purpose of creating affordable housing; and
WHEREAS, the City is drafting a purchase agreement to acquire the real property and building located at 268 Marshall Avenue for a total cost of $2,500,000.00; and
WHEREAS, the City estimates that it will cost $3,580,700 to make necessary improvements to the property at 268 Marshall Avenue in order to convert the building from congregate living to individual housing units, to comply with HUD requirements; and
WHEREAS, the Mayor recommends to the City Council, pursuant to Legislative Code § 57.09(1), to amend the Capital Improvement Budget to allocate the $6,789,929.00 for the City to purchase and remodel the property located at 268 Marshall Avenue; and
WHEREAS, pursuant to City Charter § 10.07.1, the Mayor certifies that there are funds in the amount of $6,789,929 available for appropriation in excess of those estimated in the budget; and
WHEREAS, the City will contribute $2,500,000.00 to purchase the land and building located at 268 Marshall Avenue; and
WHEREAS, the City will contribute $3,580,700.00 to make necessary improvements to the property located at 268 Marshall Avenue; and
WHEREAS, the City’s expenditure of $6,789,929.00 for the purchase and rehabilitation of 268 Marshall Avenue to...
Click here for full text