Title
Approving the use of grant funds through the Neighborhood STAR Year-Round Program for Hedquist Holdings, LLC.
Body
WHEREAS on November 19, 2021, the Neighborhood STAR Board reviewed a proposal for STAR grant financing through the Neighborhood STAR Year-Round Program for costs associated with leasehold improvements for the new Joey Meatballs Restaurant in Keg and Case Market; and
WHEREAS matching funds of $15,000 were pledged for this project; and
WHEREAS this new business will positively impact the West Seventh neighborhood; and
WHEREAS the Neighborhood STAR Board rated this project a 4.0 on a scale from 1 (low) to 5 (high); and
WHEREAS, due to the community significance of this project, a waiver to Neighborhood STAR Guidelines prohibiting STAR funding for existing debt is being recommended; and
WHEREAS it is the intent of the Mayor and the Saint Paul City Council to participate in the financing of these activities by providing up to $15,000 in grant financing through the Ward 2 Neighborhood STAR Year-Round Program; now be it
RESOLVED upon the recommendation of the Mayor, the Council of the City of Saint Paul hereby authorizes and directs the appropriate City officials to execute the necessary grant documents to implement this Resolution, subject to approval by the City Attorney; and be it
FINALLY RESOLVED staff of the Department of Planning and Economic Development are further authorized and directed to proceed with all other actions necessary to implement this Resolution.