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File #: RES 15-1445    Version:
Type: Resolution Status: Passed
In control: City Council
Final action: 8/19/2015
Title: Approving and Allocating the 2015 Funding Recommendations in the Amount of $1,000,000 from the annual sales tax revenue Pay-Go Economic Development Fund to provide funding for the Commercial Vitality Zone Program, Ford Site Planning, and the Saint Paul Design Center budget
Sponsors: Russ Stark
Attachments: 1. Staff Report, 2. Financial Analysis
Related files: RES 20-1285

Title

Approving and Allocating the 2015 Funding Recommendations in the Amount of $1,000,000 from the annual sales tax revenue Pay-Go Economic Development Fund to provide funding for the Commercial Vitality Zone Program, Ford Site Planning, and the Saint Paul Design Center budget

 

Body

WHEREAS, the Commercial Vitality Zone program (“Program”) is a commercial economic development program funded by an annual sales tax revenue account from the City of Saint Paul’s ½ cent local sales tax; and

 

WHEREAS, the purpose of the Program is to utilize a nimble, flexible approach to commercial revitalization throughout the city by investing in neighborhood commercial corridor districts that have assets with potential, organizations with capacity, and community-developed plans; and

 

WHEREAS, the goal of the Program is to invest in catalytic zones where: 1) other investments can be leveraged; 2) there is an existing pre-development strategy; 3) equity can be promoted by targeting Racially Concentrated Areas of Poverty; 4) those projects have the potential to meet expected outcomes of the Program related to vitality and growth; and 4) identified feasible and visible projects exist; and

 

WHEREAS, City staff recommends the Program annually dedicate the majority of funding for implementation, and a small portion for pre-development planning; and

 

WHEREAS, City staff recommends Commercial Vitality Zones for implementation in 2015 as follows: 1) Como-Front-Dale intersection Lower Payne Avenue to receive $337,500; 2) Phalen Village to receive $337,500; and 3) North Snelling Avenue to receive $75,000, as outlined in the attached staff report entitled “Commercial Vitality Zone - 2015 Funding Recommendations” (“Staff Report”); and

 

WHEREAS, City staff recommends funding for the 2016 Commercial Vitality Zone program as follows:  1) Lower Payne Avenue Como-Front-Dale intersection to receive $350,000 for implementation; 2) East 7th Street and Arcade Street to receive $350,000 for implementation; and 3) Rice Street between Pennsylvania Avenue and University Avenue to receive $50,000 for pre-development planning, as further outlined in the Staff Report; and

 

WHEREAS, the City Council desires to delegate to the Director of the City of Saint Paul’s Department of Planning and Economic Development (“PED Director”) the authority to approve the specific project budgets for implementation projects and pre-development planning in the zones described above; and

 

WHEREAS, the Pay-Go Economic Development spending activity budgets need to be amended to reflect the $200,000 transfer to the HRA Fund 6820 for Ford Site planning, the $50,000 transfer to Parks & Recreation Department for the Saint Paul Design Center budget, and the $750,000 budget for Commercial Vitality Zone implementation; and

 

WHEREAS, the Mayor, pursuant to Section 10.07.4 of the Charter of City of Saint Paul, does certify that funds of $250,000 are available for transfer of appropriation; and

WHEREAS, this is not precedent setting for all assessments in the City of Saint Paul, and it is not intended to use this fund in the future to buy down assessments;

NOW, THEREFORE, BE IT RESOLVED, 

that the Saint Paul City Council hereby allocates $750,000 in Commercial Vitality Zone sales tax revenue funds for 2015 to the following implementation projects: Como-Front-Dale intersection Lower Payne Avenue  ($337,500); Phalen Village ($337,500); and North Snelling Avenue  ($75,000); and

BE IT FURTHER RESOLVED, by the Saint Paul City Council, upon recommendation of the Mayor, that the 2015 budget, as heretofore adopted and amended by this Council, be hereby further amended as specified in the attached financial analysis.

 

BE IT FURTHER RESOLVED, that Saint Paul City Council intends to allocate the 2016 Commercial Vitality Zone program funds as follows: Lower Payne Avenue Como-Front-Dale intersection to receive $350,000 of implementation funds; East 7th Street and Arcade Street to receive $350,000 of implementation funds; and Rice Street between Pennsylvania Avenue and University Avenue to receive $50,000 for pre-development planning;

 

BE IT FURTHER RESOLVED, that the PED Director, City staff and the City Attorney Office are hereby authorized and directed to take all actions necessary to implement this Resolution, and the PED Director and Director of the Office of Financial Services are authorized and directed to execute all agreements, documents and instruments related to the implementation of this Resolution; and

 

BE IT FINALLY RESOLVED that the PED Director is delegated the power to determine which individual projects and planning within the identified zones are awarded funds under this 2015 Program funding.

 

 

Financial Analysis

See Attached Budget Analysis 8.19.15

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