12-20-2023 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL DECEMBER 20, 2023 • Approve Partial Pay Request No. 7 to Minnesota Paving for Twin Lake Boulevard Improvement Project • Approve Designation of Pioneer Press as the City's Legal Newspaper for 2024 • Approve Off -Site Gambling Permit for Little Canada Recreation Association on February 10, 2024 • Authorize Letter of Support for MnDOT Local Road Improvement Program Application The foregoing resolution was duly seconded by Gutierrez. Ayes (5). Nays (0). Resolution declared adopted. STAFF REPORTS RESOLUTION AFFIRMING PRELIMINARY APPROVAL TO ISSUE BONDS TO FINANCE A MULTI -HOUSING PROJECT AT RICE STREET AND DEMONT AVENUE The City Administrator explained tonight the Council is asked to consider a resolution of support for the project discussed earlier tonight. He stated that the developer will be submitting a request for funding once again as they were not approved in the earlier round this year. Dan Burns, Taft, stated that this resolution is related to the discussed project at Rice and Demont. He stated that the City adopted a similar resolution earlier this year but unfortunately the project was not awarded funding and was placed on the priority list. He stated that this action would ratify the action from June in hopes that the project would be allocated funding in the second round. Kwapick introduced the following resolution and moved its adoption: RESOL UTION NO. 2023-12-161— REAFFIRMING AND RA TIFYING A PRIOR RESOLUTION THAT GAVE PRELIMINAR Y APPR 0 VAL TO THE ISSUANCE OF HO USING FA CILITY REVENUE BONDS TO FINANCE A MUL TI-FAMIL Y HO USING PR OJECT P URS UANT TO MINNESOTA LA W, AND A UTHORIZED THE PUBLICA TION OF A NOTICE OF THE HEARING (RICE & DEMONT APARTMENTS PROJECT) The foregoing resolution was duly seconded by T. Miller. Ayes (5). Nays (0). Resolution declared adopted. RESOLUTION CALLING FOR A PUBLIC HEARING AND GIVING PRELIMINARY APPROVAL TO ISSUE CONDUIT REVENUE BONDS TO FINANCE A MULTI -HOUSING PROJECT LOCATED IN WEST ST. PAUL The City Administrator stated that the City has taken similar actions in the past five years, and even before that time. He explained that the City typically has not issued much debt and therefore has the capacity to issue conduit bond debt for qualifying projects. He stated that the developer is Reuter Walton for a project in West St. Paul. He commented that the City would not have any risk in this process and would in return receive an issuance fee, which is typically one-half percent. He stated that 5