Title
Amending the budget in the Department of Planning and Economic Development in the amount of $701,000 to accept Tax Base Revitalization Account Grants from the Metropolitan Council for the Chittenden and Eastman Building, the Rayette Lofts, and the Schmidt Brew House II sites.
Body
[WHEREAS, the City Council on October 26, 2011, by Resolution number 11-2125 authorized the Director of the Department of Planning and Economic Development to apply to the Metropolitan Council for Tax Base Revitalization Account grants; and
WHEREAS, the Metropolitan Council approved Tax Base Revitalization Account Grants of $128,000.00 for the Chittenden and Eastman Building project, $324,800.00 for the Rayette Lofts project, and $248,200.00 for the Schmidt Brew House II project; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does hereby certify that $701,000.00 in funds are available for appropriation in excess of those estimated in the 2012 budget and recommends the changes to the 2012 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 2012 budget.