Title
Amending the financing and spending plans in the Department of Planning and Economic Development in the amount of $704,550 to accept Livable Communities Development Account Grants from the Metropolitan Council for the Prior-University, Phalen Village, Fifth Street Lofts, and the PPL/West 7th Street Sites.
Body
WHEREAS, the City Council on August 4, 2010, by Resolution numbers 10-823 and 10-824 authorized the Director of the Department of Planning and Economic Development to apply to the Metropolitan Council for Livable Communities Development Account grant; and
WHEREAS, the Metropolitan Council approved Livable Communities Demonstration Account grants of $47,000 for Prior-University pre-development planning; $63,000 for Phalen Village commercial pre-development planning; $361,000 for development of the Fifth Street Lofts; and $233,550 for development of PPL/West 7th Street Housing; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does hereby certify that $704,550 in funds are available for appropriation in excess of those estimated in the 2011 budget and recommends the changes to the 2011 budget identified on Attachment A,
NOW THEREFORE, BE IT RESOLVED, that the City Council of Saint Paul accepts these grants and approves the changes identified on Attachment A to the 2011 budget.
Financial Analysis
See Attachment A.