City of Saint Paul - File #: RES 13-1671

• File #: RES 13-1671
• Version: 1
• Type: Resolution
• Status: Passed
• In control: City Council
• Final action: 10/23/2013
• Title: Authorizing the issuance of Taxable General Obligation Capital Improvement Bonds in order to finance a portion of the costs of the Lowertown Ballpark Project and delegating a pricing committee to set the terms thereof within parameters set forth in this resolution; fixing the form and specifications of the Bonds; directing the execution and delivery of the Bonds; providing for the payment of and levying a tax for the Bonds; authorizing the Parks and Recreation Department to submit grant applications for the Lowertown Ballpark Project; and approving a Record of Internal Loan for the Lowertown Ballpark Project.
• Sponsors: Dave Thune, Kathy Lantry
• Ward: Agreement, Bond Sale, Grant, Lowertown Ballpark, Ward - all
• Related files: RES PH 13-184, RES PH 12-213, RES PH 14-170, RES PH 19-390

Date	Ver.	Action By	Action	Result
10/25/2013	1	Mayor's Office	Signed
10/23/2013	1	City Council	Adopted	Pass

...Title
Authorizing the issuance of Taxable General Obligation Capital Improvement Bonds in order to finance a portion of the costs of the Lowertown Ballpark Project and delegating a pricing committee to set the terms thereof within parameters set forth in this resolution; fixing the form and specifications of the Bonds; directing the execution and delivery of the Bonds; providing for the payment of and levying a tax for the Bonds; authorizing the Parks and Recreation Department to submit grant applications for the Lowertown Ballpark Project; and approving a Record of Internal Loan for the Lowertown Ballpark Project.

...Body
WHEREAS, the Minnesota Department of Employment and Economic Development and the Metropolitan Council Tax Base Revitalization Account Contamination Cleanup Grant Programs and the Ramsey County Environmental Response Fund were established to assist with complex and costly redevelopment projects that might not occur without public financial assistance; and

WHEREAS, pursuant to Minnesota Statutes §§ 116J.571 - 116J.575, the Minnesota Department of Employment and Economic Development has the authority to award grants to assist development authorities with eligible redevelopment costs; and

WHEREAS, the City of Saint Paul is a participant in the Livable Communities Act's Local Housing Incentives Account Program for 2013 as determined by the Metropolitan Council, and is therefore eligible to make application for funds under the Tax Base Revitalization Account; and

WHEREAS, the City has identified the Lowertown Ballpark Project as a contamination cleanup project within the City that meets the Tax Base Revitalization Account's purposes and criteria and are consistent with and promote the purposes of the Metropolitan Livable Communities Act and the policies of the Metropolitan Council's adopted metropolitan development guide; and

WHEREAS, the City represents that it has undertaken reasonable and good faith efforts to procure funding for the ac...