Title
Authorizing the execution of a business subsidy agreement for the Taste of Rondo project.
Body
WHEREAS, on May 23, 2018 the Neighborhood STAR Board reviewed a proposal for
a $100,000 loan and a $100,000 grant through the 2018 Neighborhood STAR Program to the Taste of Rondo project, located at 976 Concordia Avenue, Saint Paul, Minnesota (the “Project”); and
WHEREAS, on November 7, 2018 the Ward 1 Neighborhood STAR Year-Round Program authorized an additional $10,000 grant for the Project; and
WHEREAS, on December 12, 2018 the Neighborhood STAR Board reviewed the above proposal for an additional $10,000 grant through the 2018 Neighborhood STAR Year-Round Program to the Project; and
WHEREAS, the Neighborhood STAR Board rated the original request for $200,000 from the 2018 Neighborhood STAR Program a 3.38 on a scale from 1 (low) to 5 (high); and
WHEREAS, the Neighborhood STAR Board rated the additional request for $10,000 from the 2018 Neighborhood STAR Year-Round Program a 4.5 on a scale from 1 (low) to 5 (high); and
WHEREAS, on July 25, 2018 by RES 18-1143, the Mayor and the Saint Paul City Council authorized up to a $100,000 grant and a $100,000 loan to the Taste of Rondo restaurant through the Neighborhood STAR Program; and
WHEREAS, on December 19, 2018 by RES 18-2134, the Mayor and the Saint Paul City Council authorized an additional $10,000 grant to the Taste of Rondo restaurant through the Neighborhood STAR Year-Round Program; and
WHEREAS, on January 16, 2019, the City Council held a public hearing on the Business Subsidy Agreement, and after consideration of the Project, the City Council hereby determines there is a public purpose to take the actions described in and approved by this Resolution for the following reasons: the Project will rehabilitate a vacant structure, will provide availability of goods and services, and will create a minimum of two new jobs; 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 Business Subsidy Agreement, and necessary grant and loan 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.