title
Approving supplemental resolution #20 Supplementing the General Resolution (CF 88-835) for the issuance of the Ford Redevelopment Site Special Storm Sewer Charge and Subordinate Sewer System Revenue Bond (Green Infrastructure Financing), Series 2020E and taking other required actions.
body
WHEREAS, the City of Saint Paul, Minnesota (the “City”) intends to construct a regional stormwater management system (the “Ford Site Stormwater Utility” or the “Project”) to facilitate a multi-phase redevelopment project at the approximately 120 acre redevelopment site known as the Ford Site in the Highland Park Neighborhood in the southwest corner of the City (the “Ford Site”); and
WHEREAS, the redevelopment of the Ford Site will feature 55+ acres of parks and open space, retail and office space, as well as housing of all types; affordable housing, senior living, apartments, row homes, single-family and condos; and
WHEREAS, On December 4, 2019, the City Council of the City adopted RES PH 19-388, approving the Ford Site Redevelopment Budget and Redevelopment Agreement (the “Redevelopment Agreement”), and the Redevelopment Agreement outlines the roles and responsibilities of the parties for the financing and construction of the public infrastructure required for the future private development of the Ford Site as envisioned in the Ford Site Zoning and Public Realm Master Plan (the “Master Plan”); and
WHEREAS, as part of the finance plan for the Redevelopment Agreement to implement the Master Plan, on May 6, 2020, the City Council of the City adopted RES 20-672, establishing the Ford Site Green Infrastructure Stormwater Management District (the “District”), as well as connection and ongoing operation and maintenance charges for the parcels and uses to be served by the Ford Site Stormwater Utility; and
WHEREAS, more specifically, the primary purpose of the District is to facilitate funding of the Ford Site Stormwater Utility which will include above ground and ...
Click here for full text