Title
Accepting grant funds, authorizing execution of a grant agreement (with indemnity obligations and other documents related thereto), and amending the operating budget for the City's sponsorship of a Metropolitan Council Livable Communities Demonstration Account (“LCDA”) Grant for Gloryville at 1570 White Bear Avenue North (District 2, Ward 6).
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WHEREAS, in RES 24-924 the Saint Paul City Council resolved that the City of Saint Paul (the “City”) may act as the legal sponsor in connection with a Metropolitan Council Livable Communities Act LCDA Grant application for the benefit of the tentative developer, GloryVille LLC, a Minnesota limited liability company (or an affiliated entity owned or controlled by Gloria Wong), and, thereby, authorized an application to the Metropolitan Council related to the Gloryville project located at 1570 White Bear Avenue North (the “Application”) and
WHEREAS, the Metropolitan Council accepted the Application and awarded the City a $1,210,000 LCDA development grant for the benefit of the Gloryville project (“Grant Funds”); and
WHEREAS, the Metropolitan Council LCDA grant contract (the “Grant Agreement”) requires the City to indemnify the Metropolitan Council; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Saint Paul City Charter, does certify that there are available for appropriation funds of $1,210,000 in excess of those estimated in the operating budget; now, therefore, be it
RESOLVED by the City Council of the City of Saint Paul:
1. that upon the recommendation of the Mayor that the $1,210,000 is available for appropriation in the Operating Budget, the City Council hereby authorizes and approves said budget, as heretofore adopted by the City Council, to be amended as outlined in the attached financial analysis.
2. that the City Council hereby authorizes and approves entering into the Grant Agreement with the Metropolitan Council, which includes an...
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