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STAFF REPORT <br />TO:Mayor Keis and Members of the City Council <br />FROM:Heidi Heller, City Clerk <br />DATE:November 21, 2018 <br />RE:Approve Certification of MinnPACE Assessment to Suite Living Little Canada <br />The Council entered into the Port Authority of the City of Saint Paul Property Assessed Clean <br />Energy Program (MinnPACE) Joint Powers Agreement at the June 27 Council meeting and approved <br />placing an assessment on the Suite Living Little Canada properties. The new Suite Living Little <br />Canada senior housing building applied for financing as part of the MinnPACE program. By <br />participating, they are agreeing to use more energy efficient products in their new project with no <br />upfront costs, and will pay the loan back through a special assessment that the City certifies to their <br />property. The MinnPACE application for Suite Living Little Canada was approved and the City <br />Council agreed to place the assessment on the property at the July 11, 2018 Council meeting. There <br />is no risk to the City to participate in this Joint Powers Agreement or MinnPACE Program. <br />The final amortization schedule has been submitted by the St. Paul Port Authority showing a 20 year <br />payback for the $1,125,000 that Suite Living Little Canada received through the MinnPACE <br />Program. The Suite Living plat has now been recorded and the two original parcels combined, along <br />with the assignment of a new address and PID number. <br />Staff recommends the Council approve certifying the MinnPACE Assessment for $1,125,000 on the <br />Suite Living Little Canada property at 2740 Rice Street, PID #06-29-22-33-0091 as requested by the <br />St. Paul Port Authority.