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File #: RES 20-1327    Version: 1
Type: Resolution Status: Passed
In control: City Council
Final action: 10/7/2020
Title: Authorizing the City of Saint Paul to approve the amendment to reduce Liz Miller Investment’s 2020 contractual payment to City.
Sponsors: Rebecca Noecker
Attachments: 1. Covington Inn Agreement First Amendment, 2. Res 20-12 Approved - Recommending to the Saint Paul City Council approval of reduction of Liz Miller Investment’s 2020 contractual payment to City

Title

Authorizing the City of Saint Paul to approve the amendment to reduce Liz Miller Investment’s 2020 contractual payment to City.

 

Body

WHEREAS, the City and Liz Miller Investments (Manager) entered into an Agreement on July 1, 2019 for the management and operation of the Covington Inn, which terminates on December 31, 2024; and

WHEREAS, that agreement requires Manager pay the City the greater of 5% of gross revenue generated by room rentals at the Covington Inn over $200,000 or $5,000 annually; and

WHEREAS, Minnesota’s Emergency Executive Order 20-01 Declaring a Peacetime Emergency and Coordinating Minnesota's Strategy to Protect Minnesotans from COVID-19 severely impacted Manager’s operations; and

WHEREAS, Manager wishes to amend the Agreement to allow for a one-year reduction in payment to City; and

WHEREAS, the City Council finds that the Covington Inn is a valuable and one-of-a-kind Saint Paul business experiencing financial hardship as a result of the COVID-19 pandemic, and that supporting it during this difficult time serves a public purpose by helping to ensure it can continue to serve the Saint Paul community into the future; now, therefore, be it

 

RESOLVED, that the City Council of the City of Saint Paul authorizes the appropriate City officials to enter into the attached Amendment.

 

 

 

 

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