Title
Resolution accepting a grant of $747,980 from the Saint Paul & Minnesota Foundation; authorizing the execution of grant agreements; and amending the 2020 Housing and Redevelopment Authority budget, Citywide.
Body
WHEREAS, on April 1, 2020 the Housing and Redevelopment Authority (the “HRA”) Board of Commissioners approved RES 20-597, authorizing the guidelines for the Saint Paul Bridge Fund for Families and Small Businesses (the “Bridge Fund”) and allocating $3.3 million of HRA resources to fund the Bridge Fund to provide emergency relief to small businesses and families in response to the economic impacts of the COVID-19 pandemic; Citywide; and
WHEREAS, Mayor Melvin Carter III has launched a private donation campaign in partnership with the Saint Paul & Minnesota Foundation to support families and small businesses most vulnerable to the economic impacts of COVID-19; and
WHEREAS, generous private donations from philanthropy, corporations, and individuals have contributed or committed as of April 15, 2020 $747,980 to the Saint Paul & Minnesota Foundation to benefit Saint Paul families and small businesses through the Saint Paul Bridge Fund; and
WHEREAS, the Saint Paul & Minnesota Foundation desires to grant the private donation funds raised through its private donation campaign to the HRA’s Bridge Fund (“the Grant Funds”); and
WHEREAS, it is necessary that the HRA and the Saint Paul & Minnesota Foundation enter into a Grant Agreement whereby the donated funds to the Saint Paul & Minnesota Foundation will be gifted to, and received by, the HRA ; and
WHEREAS, by this Resolution, the HRA Board of Commissioners accepts and receives the private donations received by the Saint Paul & Minnesota Foundation, amends the 2020 HRA Budget, and authorizes execution of the Grant Agreement with the Saint Paul & Minnesota Foundation
NOW, THEREFORE BE IT RESOLVED, by the HRA Board of Commissioners, as follows:
1. The HRA Board of Commissioners hereby accepts and receives the Grant Funds from the Saint Paul & Minnesota Foundations.
2. The HRA Board of Commissioners hereby amends the 2020 HRA Budget as detailed in the attached Financial Analysis.
3. The HRA Board of Commissioners hereby authorizes the HRA Executive Director and staff and legal counsel for the HRA to take all actions necessary to implement this Resolution, and authorizes the appropriate HRA officials to execute the Grant Agreements and any other documents and instruments in connection with this Resolution.