Title
Approving the use of Neighborhood STAR Year-Round Loan Program Funds for the Mounds Theatre for a project in Ward 7.
Body
WHEREAS, on March 11, 2015 the Neighborhood STAR Board reviewed a proposal from the Mounds Theatre to utilize a $55,000 grant in Year-Round STAR Program funds to create a professional level community performance space; and,
WHEREAS, the Neighborhood STAR Board rated this project 4.5 on a scale from 1 (low) to 5 (high); and,
WHEREAS, the YEAR-Round STAR Program funds will be used assist the Mounds Theatre with capital improvements associated with building security and sound and lighting improvements; and,
WHEREAS, because this proposal provides for much needed capital improvements that will make a considerable difference to the surrounding neighborhood, the Mayor and Council wish to waive the one to one match requirement; and,
WHEREAS, it is the intent of the Mayor and the Saint Paul City Council to participate in the financing of this activity by providing a $55,000 grant through the 2015 Neighborhood STAR Year-Round Loan Program;
NOW, THEREFORE BE IT RESOLVED, upon the recommendation of the Mayor, the Council of the City of Saint Paul hereby authorizes and directs the appropriate City officials to execute the necessary grant documents to implement this Resolution, subject to approval by the City Attorney; and be it
FINALLY RESOLVED, staff of the Department of Planning and Economic Development are further authorized and directed to proceed with all other actions necessary to implement this Resolution.