Title
Approving modifications to Neighborhood STAR Program funding for Taste of Rondo, LLC
Body
WHEREAS, on July 25, 2018, by Resolution #18-1143, the Saint Paul City Council approved a $100,000 Neighborhood STAR loan and a $100,000 Neighborhood STAR grant to Taste of Rondo, LLC, a restaurant that provides traditional soul food in the historic Attucks Brooks Legion building at 976 Concordia (old Rondo) Avenue; and
WHEREAS, the STAR loan and STAR grant were to be used as part of a financial structure for upgrades in the building entrances, kitchen and bathrooms, plumbing and electrical, dining room, customer waiting space, and office space, as well as the installation of new windows, painting of the exterior, and new landscaping; and
WHEREAS, the owners of Taste of Rondo cannot make the monthly payments on the STAR loan because its business’ revenues have been reduced by the effects of the COVID-19 pandemic and the Governor of Minnesota’s Executive Order limiting capacity to 50%; ; and
WHEREAS, the owners of the Taste of Rondo have incorporated design elements that reflect and commemorate the history, legacy, and development of the Rondo neighborhood and the project contributes to the emerging Rondo Cultural Destination Area, and
WHEREAS, the owners of the Taste of Rondo requested the deferral of the STAR Loan payments by one year, and
WHEREAS, on August 18, 2020, PED’s Credit Committee also recommended the deferral of the Taste of Rondo STAR loan payments, through an extension of the loan term by one year, and forgiveness of any interest and late fees, and
RESOLVED, upon the recommendation of the Mayor, the Saint Paul City Council authorizes and directs the appropriate City officials to execute the necessary loan amendments to implement this Resolution, subject to approval by the City Attorney; and be it
FINALLY RESOLVED, staff of PED are further authorized and directed to proceed with all other actions necessary to implement this Resolu...
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