Title
Approving and authorizing execution of agreements related to construction, remediation and infrastructure for a soccer stadium development, and a Funding Agreement with the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, and related actions.
Body
Whereas, MUSC Holdings LLC (hereinafter “the Team”) approached City officials expressing an interest in developing a stadium (hereinafter “the Stadium”) for a Major League Soccer team on or near 400 N. Snelling Avenue (“Property”) in the City of Saint Paul, Minnesota (hereinafter “the City”), and asking for the support of the City in this development; and
Whereas, on August 26, 2015, the Council passed and the Mayor thereafter approved RES 15-1539, expressing support for the development of the Stadium, including support for State legislation granting property tax exemption for the Stadium site; and
Whereas, the Property is owned by the Metropolitan Council and is commonly known as the “Bus Barn Site”, and
Whereas, City staff and officials conducted extensive discussions and negotiations with representatives of the Team and representatives of the Metropolitan Council with the goal of entering into various agreements on the terms, among others, that the Team would pay for all the costs of designing, constructing and operating the Stadium, that the City would rent the Bus Barn Site from the Metropolitan Council and together with the Team and Metropolitan Council would collaborate on any contamination clean-up necessary (“Remediation”), that the City would sublease the Bus Barn Site to the Team and the Team would pay the rent to the City, and that the City would pay the costs for standard infrastructure for the Stadium Site (“Infrastructure”); and
Whereas, funding for the City’s obligations for the Remediation work and installation of Infrastructure will come from the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (“HRA”) under a Funding Agreement between the C...
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