Title
Authorizing the City to enter into a purchase agreement for 60 West Sycamore to house the Public Works Solid Waste and Recycle Services; amending the 2024 budget to establish the spending and financing for the purchase; and declaring the official intent of the City to reimburse certain original expenditures related to the capital projects from the proceeds of tax-exempt or taxable bonds to be issued by the City.
Body
WHEREAS, the City of Saint Paul ("City"), acting through its Department of Public Works, seeks to purchase the commercial property and land located at 60 West Sycamore in Saint Paul (the "Property") for a facility for the City’s Public Works Department’s Solid Waste and Recycling Services (the “Solid Waste and Recycling Operations”); and
WHEREAS, the Property will house the programming, customer service and collection staff as well as the collection equipment and vehicles for the City’s Solid Waste and Recycling Operations; and
WHEREAS, in addition, the Property will also have an education center, expanded recycling drop off center and a year-round free re-use center for the City’s Solid Waste and Recycling Operations; and
WHEREAS, the purchase of the Property aligns with Mayoral priorities as presented in the 2024 State of Our City Address and with the Garbage Advisory Committee Report recommending the City provide collection services to 10% of organized collection properties; cart inventory maintenance duties; customer service; billing functions; and
WHEREAS, the City, acting through its Office of Financial Services Real Estate Section, will enter into a sale and purchase agreement to acquire the Property (the "Purchase Agreement"), the form of which is attached hereto as Exhibit A; and
WHEREAS, the City has agreed to pay six million five hundred thousand and 00/100 dollars ($6,500,000.00) plus related acquisition and closing costs to acquire the Property, this being a fair and reasonable value as determined by an independent appr...
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