Title
Amending the 2020 Financing and Spending Budget for the Public Works Sewer Utility Fund, Riverview Lift Station.
Body
WHEREAS, the HRA will advance tax increment financing from the Riverfront Renaissance TIF District as approved with Resolution PH 19-252; and
WHEREAS, the City intends to fund a portion of the construction costs of the Improvements from the proceeds of a loan (“Loan”) from the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (“HRA”), the terms and conditions of such Loan to be memorialized in a Record of Restated and Combined Inter Department Loans (“Record”); and
WHEREAS, the establishment of the Riverview Special Sanitary Sewer Availability Connection Charge District, determining the Riverview Special Sanitary Sewer Availability Connection Charge, approving record of restated and combined inter department loans, and budget amendment (Ward 2, District 3).
WHEREAS, Minn Stat Section 444.075, Subd.3 permits the City to charge new users connecting to the enhanced sanitary sewer system for the costs of such Improvements provided that the charge is just and equitable to all potential new uses, and
WHEREAS, the City Council by Ordinance 19-37 enacted amendments to Legislative Code Chapter 76 to provide for the establishment of a special sanitary sewer availability connection charge district by resolution and to authorize the establishment of a special sanitary sewer availability connection charge and Section 76.03 of the City’s Legislative Code requires payment of such charges on new uses; and
NOW, THEREFORE, BE IT RESOLVED that the Council of the City of Saint Paul, upon recommendation of the Mayor, approves the amendments to the Financing and Spending budgets as detailed in the attached financial analysis.
Attachment: Financial Analysis