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File #: RES PH 19-388    Version: 1 Name: Ford Site Redevelopment Budget and Approvals
Type: Resolution-Public Hearing Status: Passed
In control: City Council
Final action: 12/4/2019
Title: Approving an amendment to the Capital Improvement Budget; declaring official intent to reimburse expenditures from the proceeds of tax exempt bonds; authorizing interfund loans; providing for the use of Project Labor Agreements in accordance with policy; and authorizing execution of a redevelopment agreement and related documents for the Ford Site Redevelopment Project (District 15, Ward 3) (v).
Sponsors: Chris Tolbert, Dai Thao, Rebecca Noecker, Mitra Jalali, Kassim Busuri, Amy Brendmoen
Attachments: 1. 01 CC Budget Amendment RES PH 19-388 Financial Analysis, 2. 02 Sources and Uses, 3. 03 Executive Summary of Redevelopment Agreement (Ryan - Ford Site), 4. 04 Redevelopment Agreement (without exhibits) (Ryan - Ford Site), 5. 05 Exhibits A through H (Ryan - Ford Site), 6. 06 Exhibit F - Form of Site Improvement Performance Agreement (Ryan - Ford Site), 7. 07 Exhibits I through S (Ryan - Ford Site), 8. 08 Exhibits T through CC (Ryan - Ford Site), 9. 09 Exhibits DD through KK (Ryan - Ford Site), 10. StPaulCityCouncil_HighlandBall, 11. Building and Trades Letter of Support for the Ford Site Project Labor Agreement, 12. PPL-CBC Letter of Support to City Council 12.02.19, 13. SPACC Ford_Site_Comments_City_Council FINAL, 14. St. Paul Regional Labor Fed letter re Ford, 15. Public Comment re Ford Redevelopment
Related files: RES PH 20-58, RES 20-262, RES 20-264, RES 20-265, RES 20-266, RES PH 20-186, RES PH 20-185
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Approving an amendment to the Capital Improvement Budget; declaring official intent to reimburse expenditures from the proceeds of tax exempt bonds; authorizing interfund loans; providing for the use of Project Labor Agreements in accordance with policy; and authorizing execution of a redevelopment agreement and related documents for the Ford Site Redevelopment Project (District 15, Ward 3) (v).

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WHEREAS, the City Council of the City of Saint Paul, Minnesota (the “Council”) has the statutory responsibility under Minnesota Statutes, Section 469.028, to approve redevelopment plans and projects of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”); and
WHEREAS, the HRA has heretofore established the Ford Site Redevelopment Project Area (the “Project Area”) and has adopted a redevelopment plan therefor (the “Redevelopment Plan”) pursuant to Minnesota Statutes, Sections 469.001 to 469.047, as amended; and
WHEREAS, said Redevelopment Plan contains an identification of need and statement of objectives and program of the HRA for carrying out of a redevelopment project, including property to be acquired, public improvements to be provided, redevelopment to occur, and sources of revenue to pay redevelopment costs within the Project Area; and
WHEREAS, pursuant to and in accordance with Minnesota Statutes, Sections 469.174 to 469.1794, as amended by Laws of Minnesota 2017, 1st Spec. Sess. chapter 1, article 6, section 22 (the “Special Law”) and as further amended from time to time, as applicable (the “TIF Act”), which authorizes the HRA to finance certain eligible redevelopment costs of a redevelopment project with tax increment revenues derived from a tax increment financing district established in accordance with the TIF Act, the HRA established the “Ford Site Redevelopment Tax Increment Financing District” (County #322) on March 23, 2016 (the “Redevelopment TIF District”) pursuant to the Tax Increment Financing Plan for...

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