Share to Facebook Share to Twitter Bookmark and Share
File #: RES PH 19-161    Version: 1 Name: China Garden Society Bud Amd and Internal Loan
Type: Resolution-Public Hearing Status: Passed
In control: City Council
Final action: 6/5/2019
Title: Approving acceptance of Minnesota China Friendship Garden Society funds for the St. Paul - Changsha China Friendship Garden project; amending the financing and spending budget for the Department of Parks and Recreation and City Internal Loan Fund in the amount of $345,922.09 for the project; and approving an internal loan.
Sponsors: Kassim Busuri
Ward: China Friendship Garden, Phalen Park
Attachments: 1. Chinese Garden Society FS Sheet $345922.pdf, 2. China Garden Interfund Loan Agree, 3. China Garden Loan Exhibit A
Title
Approving acceptance of Minnesota China Friendship Garden Society funds for the St. Paul - Changsha China Friendship Garden project; amending the financing and spending budget for the Department of Parks and Recreation and City Internal Loan Fund in the amount of $345,922.09 for the project; and approving an internal loan.

Body
WHEREAS, the Minnesota China Friendship Garden Society (the “Society”) has been actively fundraising since 2010 for construction of a cultural garden in Phalen Regional Park; and

WHEREAS, the City of Saint Paul, Department of Parks and Recreation, has received $880,000 from the Society for the St. Paul - Changsha China Friendship Garden project (the “Project”); and

WHEREAS, additional funds are needed to complete the Project and the Minnesota China Friendship Garden Society plans to contribute an additional $345,922.09; and

WHEREAS, the Society will provide $105,922.09 of contributions on hand and the City of Saint Paul will make an advance from the Internal Loan Fund to provide the additional $240,000.00 (the “Loan”); and

WHEREAS, the Society will pledge its future contributions to repay the Loan for the Project, execute a Note and required security documents with the City of Saint Paul; and

WHEREAS, the City of Saint Paul, Department of Parks and Recreation wishes to accept said $345,922.09 from the Minnesota China Garden Friendship Society to fund the Project and to repay the Loan for the Project as anticipated in the draft repayment schedule attached; and

WHEREAS, this project positively impacts Phalen Regional Park and the City of Saint Paul with the installation of the Xiang Jiang Pavilion (a replica of Changsha’s famous Aiwan Pavilion), the Hmong Cultural wall sculpture, and the West Entrance Archway; and

WHEREAS, it is the desire of the Department of Parks and Recreation to accept the funds and to amend the financing and spending budget for the project and enter into an Internal Loan agreement, in the ...

Click here for full text
Date NameDistrictOpinionCommentAction
No records to display.