Title
Accepting grant funds, amending the Planning and Economic Development operating budget, and authorizing execution of a grant agreement related to the City’s sponsorship of a Minnesota Investment Fund grant for the benefit of Simpli-Fi Automation Inc. for its project located at 370 Wabasha Street North (District 17, Ward 2).
Body
WHEREAS, in RES PH 24-77, the Saint Paul City Council granted authority for the City of Saint Paul to act as the legal sponsor to Simpli-Fi Automation Inc, a Minnesota Corporation (“Simpli-Fi”) in connection with its application to the Minnesota Investment Fund and, thereby, authorized an application to the Minnesota Department of Employment and Economic Development (“DEED”) related to the purchase and installation of new equipment at its new facility located at 370 Wabasha Street North (the “Application”); and
WHEREAS, DEED accepted the Application and awarded the City a $1,000,000 Minnesota Investment Fund Grant for the benefit of Simpli-Fi (the “Grant Funds”); and
WHEREAS, The Minnesota Investment Fund Grant Contract (the “Grant Agreement”) requires the City to indemnify DEED; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Saint Paul City Charter, certifies that there are available appropriation funds of $1,000,000 in excess of those estimated in the Planning and Economic Development (PED) department 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 $1,000,000 of Grant Funds is available for appropriation in the PED Operating Budget, the City Council hereby authorizes and approves that said budget, as heretofore adopted by the City Council, shall be amended as outlined in the attached financial analysis.
2. that the City Council hereby authorizes and approves the City of Saint Paul entering into the Grant Agreement with DEED...
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