Title
Approving an amendment to the spending and financing budget for the Ford Site Redevelopment Capital project and Hidden Falls Connection project to reflect receipt of the State of Minnesota Point Source Implement Grant (PSIG) for the Ford Site Central Stormwater Utility and related facilities as well as updated cost estimates and related sources on the Mississippi River Boulevard crossing project, also commonly referred to as the Hidden Falls Connection project.
Body
WHEREAS, pursuant to Resolution No. PH 19-388, the City of Saint Paul approved the execution of a redevelopment agreement and related documents for the Ford Site Redevelopment Project, now known as the Highland Bridge redevelopment project (District 15, Ward 3), and approved a Capital Improvement Budget for the Ford Site Redevelopment Project (“Project”); and
WHEREAS, in Resolution No. 19-226, the City authorized the submission of a PSIG application to the Minnesota Public Facilities Authority (PFA), and the City has recently secured a PSIG grant in the amount of $7,000,000 from the State of Minnesota to fund stormwater management infrastructure and the grant will offset or reduce the other anticipated City sources to the project; and
WHEREAS, in Resolution No. PH 20-185 the City revised the Capital Improvement Budget to reflect receipt of a grant in the amount of $1,721,063 from the Capital Region Watershed District for certain elements of the Project and to assist in the funding of enhanced infrastructure connecting the Ford Site to Hidden Falls Regional Park by continuing a daylighted creek to link the new upstream system and the existing downstream regional park while also facilitating safe and accessible non-motorized transportation under Mississippi River Boulevard; and
WHEREAS, after further design and engineering the revised budget further reflects increased capital costs for the Hidden Falls project and adjustments to pay for non-grant eligible costs; and
WHEREAS, the Mayor, pursuant to Saint Paul City Charter Sec. 10.07.1 and Administrative Code Sec 57.09 and after presentation to the Capital Improvement Budget Committee for review,, certifies there are available for appropriation total revenues of $7,710,000 in excess of those estimated in the Capital Improvement Budget and recommends amendment to the same consistent with the attached financial analysis; and
RESOLVED, by the City Council of the City of Saint Paul, Minnesota, and upon recommendation of the Mayor and after the presentation of the funding request to the Capital Improvement Budget Committee for review, it is hereby determined that an addition $7,710,000 is available for appropriation in the Capital Improvement Budget and the budget is heretofore adopted and amended by the Council in the particulars as specified in the attached Financial Analysis.
1. Financial Analysis
2. Mississippi River Boulevard Crossing Sources and Uses
3. Mississippi River Boulevard Crossing Rendered Concept Plans
4. Mississippi River Boulevard Crossing Plans
See Attachments.
CIB Recommendation
The St. Paul Long-Range Capital Improvement Budget Committee received this request on March 8, 2021 and recommended approval.