HomeMy WebLinkAbout15-14 - ADMIN Resolution - Economic Development Authority - 2015/07/20ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 15-14
RESOLUTION AUTHORIZING AN APPLICATION
TO THE METROPOLITAN COUNCIL LIVABLE COMMUNITIES TRANSIT
ORIENTED DEVELOPMENT FUNDING
ON BEHALF OF PLACE
WHEREAS, the St. Louis Park Economic Development Authority (EDA) is eligible to
apply for Livable Communities Demonstration Account funds on behalf of cities participating
in the Livable Communities Act's ("LCA") Housing Incentives Program for 2015 as
determined by the Metropolitan Council; and
WHEREAS, the EDA has identified a proposed TOD Project within the City of St.
Louis Park that meets the Demonstration Account's purposes and criteria and is consistent with
and promotes the purposes of the Metropolitan Livable Communities Act and the policies of the
Metropolitan Council's adopted metropolitan development guide; and
WHEREAS, the EDA has the institutional, managerial and financial capability to
adequately manage an LCA TOD grant; and
WHEREAS, the EDA certifies that it will comply with all applicable laws and
regulations as stated in the grant agreement; and
WHEREAS, the EDA acknowledges TOD grants are intended to fund projects or
project components that can serve as models, examples or prototypes for TOD development or
redevelopment elsewhere in the region, and therefore represents that the proposed TOD Project
or key components of the proposed TOD Project can be replicated in other metropolitan -area
communities; and
WHEREAS, only a limited amount of grant funding is available through the
Metropolitan Council's Livable Communities TOD initiative during each funding cycle and the
Metropolitan Council has determined it is appropriate to allocate those scarce grant funds only
to eligible TOD Projects that would not occur without the availability of TOD grant funding.
NOW THEREFORE BE IT RESOLVED that, the EDA after appropriate examination
and due consideration, the governing body of the City:
1. Finds that it is in the best interests of the City's development goals and priorities
to pursue the proposed TOD Project at this particular site and at this particular time.
2. Finds that the TOD Project component(s) for which Livable Communities TOD
funding is sought:
(a) will not occur solely through private or other public investment within the
reasonably foreseeable future; and
(b) will occur within the term of the grant award only if Livable Communities
TOD funding is made available for this TOD Project at this time.
EDA Resolution No. 15-14 2
3. Authorizes its City staff to submit on behalf of the City an application for
Metropolitan Council Livable Communities TOD grant funds for the TOD Project
component(s) identified in the application, and to execute such agreements as may be
necessary to implement the TOD Project on behalf of the City.
Administration: Adopted by the Economic Development
Authority, July 20, 2015
President
Attest:
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