Over to me. I can hear Okay. We'll call please. Coleman Toast here. Maker here. Yang here there. 5 present to absent that being commissioners, Johnson, sorry. Chair tunic with Johnson. Before we start Chair Johnson supposed to be up on the screen and video. There she And I think is she supposed to be on the screen in front of a of someone with otc. Can. Fix that. Please. There we go. And then just making sure we can here. Chair Johnson. No sound. Air before You hear me now. Yes, we can hear you. Perfect. Okay. Wonderful. Okay. Great such Johnson. This
PRESIDENT. I think we can get started. Other 6 PRESIDENT And one absent that being Commissioner Kemp. Item number one for discussion is resolution r Yes. 26 dash 1, 5, 6, resolution amending the 2026 Housing Trust Fund Project budgets. To reflect the 2026 adopted budget, including contingencies citywide. Thank you. This is a resolution that is basically a a. It a response from the contingencies regarding tenant protections and we have a few folks to percent us to us here today. A second turnover direct that you can turn it over to our presenters. Im sure that stay There you go. Apologies. Vice chair action before you today actually is things
require a tree board. Approval are transferring budget amounts between projects in excess of $100,000. So sort of the traditional annual cleanup of that in this case. It also includes the tenant protections item $380,000. And so the presentation before yu today, we'll mostly about that. We've got land for can half and face Dietz here to present and be available to answer questions. Wonderful. So with that, I will turn it over faith for the presentation. Though. Can you see the can you see yes, the tradition is up. Okay. Perfect Chair Johnson, I know I can see but you can see me. I'm guessing. Vice chair commissioners. My name is Faye
seats. And I am presenting from Olathe, which is the Office of Financial Empowerment. Luther King Office from the Department of Safety inspections. We're here to give a significant update. As to what's been going on with tenant protections to the hra. Just a so for the do you see the second time? Yes, as want to make sure technologies working today. So what we're going to do it, he's just go through a brief history for people who are listening or watching for the first time and don't what his temper. It actually was as mean. Give a significant response to the hre memo that was sent in 2025. Then we'll talk about next steps and we'll have times for questions. And I'm guessing that pause MAY possibly MAY cause with it throughout the presentation. For questions. In 2025. The tenant protections ordinance
was back brought back by the council. It was 2020 was passed. It was rescinded in 2021. And the council last last year wanted to bring it back. So they did and passed it on MAY 7th 2025. Then Dsi. Was which is Department of Safety inspections. They were designated as the administrator of the ordinance with the Office of Financial Empowerment was given the role of putting together rights and responsibilities and we'll talk about this a little bit later. But we've added resources to that as well. Dsi is the administrator and the funding at the time. Want to go back to the funding. It's time to funding was held in contingency bcause it's it's
coming from the Housing Trust fund. And so it needs to if there needed to be some. Information and updates before it could be moved. The we had, of course, the safety the security incidents that through eerything off off kilter through everybody's work plans. Off kilter. And so then. Within that same time frame, there ws a memo that came from hra asking for information and update of what's happening. Sme information was given to a jury. But we are here now to give a more significant update. So people know like what has been going on. What's what's the plan going forward? Before we get before hand it off t live in. I want to just explain that we have 3 phases of this project
and this work to get to the launch date. The launch date will be MAY 14th of 2026. That salon state of the ordinance. And we have 3 phases. So pre implementation. And implementation as well as the post implementation. So pretty implementation is basically right now. When it was passed to about APRIL of 2026. That time is content development. It's community trying to build a communications plan working through what the staffing requirements will be creating those. This is description. Ys. Implementation is there's kind of an overlap with with 3 implementation in that. It's going to be staff training.
And that includes customer service. People who are forward facing to make sure that they have information before the ordinance launch. So they know how to direct questions and I'm not trying to take it on themselves. So they know how to direct questions and where they And that also includes the communications and outreach. So working with our partners working with neighborhoods to get the hey, this is coming get information out there so that they know. What to expect. And then the implementation, once its MAY 5th 14th and it's implemented. That post implementation. Is the continued outreach. Unlike gathering questions in
and figuring out what's next. That's that's the basic timeline. There's a lot more to it. Obviously. So before I pass it on to To lend to my colleague, is there any other any questions right now? I don't believe so. Questions. Good afternoon. Thank you having me here today to give an overview of what working on relative to tenant protections again, my name is Lynn for a in half and I'm from the Department of Safety and inspections. We get completed just in terms of the positions with completed the job on it. And we have to customer service to full-time customer service representatives that we will be bringing on board. And then one full time management assistant at a level 3 and kind of the
difference between the 2 I the customer service representative they will be housed in the Department Safety and inspections. Customer service team and they'll have a certain level of understanding and knowledge about the tenant protections. But anything that they can't answer or would require a lot more research or investigation that would go to the management assistant level 3 person and that person will be housed on the rent stabilization team, which includes myself right now and one other colleague. Again, 2 people on customer service team and then one person on the rent, stabilization team. We feel good about our opportunities to get the customer service. Representatives hired pretty quickly after we full approval
for the positions. We have waiting list of customers act of customer service, representative applicants. And so that's a pretty robust list. So we'll be looking at that list to see if we can bring in some of those folks for interviews and then we also will be making glasses for each of the positions just to help market the positions to other who MAY be interested or unaware. So that's kind of the plan in terms of the positions and the next slide you can see that tentative timeline for bringing those positions on board. The great out dates are the dates that we've already completed. So all the way up through Dsi receives the waiver to the
hiring Those have been completed. And then, of course, today approving the budget for the positions during the city council meeting. That will happen one thing that isn't represented on here is that this would have been 2 days ago. hired the sorry. I lost my place here. We gotten approval for the requisition Ys. So those will be moving forward again, predicated on approval. So we don't see an issue in and not meeting the 2, 5, date which is left us talent and equity resources approving the requisition during the hring meeting. So that's moving
forward as planned. But if there is a hiccup somewhere along the way in those states would happen to get off for some reason that would push the 2.17 a little bit. But still we would still be targeted before FEBRUARY if we could get there. This next slide is really just an estimated cost, which shows that the total budget adds up to $380,000 the different components of that budget relative to the positions. There's a number of things like salaries and Social Security, Medicare, pension, etc. Some not going to spend a lot of time on the slide, but it's in te death. Case want to take a closer look at those numbers. The fiscal year 2026 budget that, you know, was already approved by this body. And then the siu is still
interested in how tenant protections will be going forward, including for fiscal year 2027. So I just wanted to put that out there. There was also question that had come up during the are addressing the different normal items that could come to us. Aout the plan Saint Paul administrative Code 13 and then to repeal simple legislative code 54th. His full of really technical changes there's alittle bit more information on the slide about what exactly those changes are going to entail. We don't have a timeline for when that will be completed yet, it is on the radar and - people are working to address that. We had our initial meeting on the tenant protections website. So we the
Office of Technology and Communications coordinated with the s I and faith was there's representative at that meeting. Essentially that's going to be the team that's going to create the website. The content will be consistent with the content that loss he has been working on with us and we're moving that through the finalization process. The website we're hoping will be easy to navigate in plain language accessible and also available in home. Say it limited English proficiency languages, which are listed I the second bullet point here and I think really that's all that I really can say about that at present time. The website information will include both tenant landlord facing sections. It will address the legal housing
support, emergency assistance resources your rights information. And then if you turn to the next slide, there's also going to that the complaint process will be addressed on the website bsi proposes t address complaints through so the policy tool. It's recently been brought up in launched in Department of Safety inspections. And what we would do is we would near the existing process that we already have for rent stabilization complaints. So we would mirror that process and then modify the new tenant protections complaint, peace to include the questions that we would need to do for tenant
protections and then finally, if there was any issue and we don't we don't anticipate that there would be an issue. Bringing that up in time for the 14 fight. But if there was what we would do is we would simply you see all the rent, stabilization complaints process, which ties the complaints to assure point site and we would do it manually until we could bring that up again. We don't issue with it. But there was, we do have a fallback plan. This basically the idea. With that. And that faith. Thank you. Any questions or continue? Incluso. So Thank you, Liz. And it's
fees role in this. We are. It's it's there's a lot of overlap, obviously between India side, which is why we're working so closely together. As he has been doing is looking at the 2020. Information because there's so much information that content that was created, then we looked at that information and have been making. Updates based on that. What we already had and what needed to be updated. Dsi has looked over it and added there sections. We have been working with which is the city attorney's office we've been working with. If if questions have come up, what do you think about this as a as a legal? Is a legal issue or not? Should
this be included like different questions that we've had. And then once we it's back with you now that information will be combined and then sent see for. Review. And then once that's complete. It will go to translation process. So it's a lot of processees there. That's that's our goal with that right now. Another thing that's been done. Has been thinking about the communications plan. This came up with otc. And that we really need to think about. So we have some content from again from 2020, but we need to revise see what like what types of content will really be impacts will, especially in these times. It there MAY not be as many in person discussions, we'll have to think about that. How's that
going to be communicated? So as I mentioned before, we have the and landlord rghts responsibilities and resources. We've added resources. That is not this. Is some information about that in the ordinance? But really believe that we should have. We have current resources out there now on our website. And we're going to add a lot of that information and we will we will be. As we've found organizations are new resources that are out there. We'll add those to that list so that people have some information. That's part that's going to be included as part of that post implementation, obviously because as someone's going to have to maintain that we won't be answering a lot of questions in terms of what people are eligible for,
obviously because we will be, but it's good to have a list so that we can refer people out with current information is current as we can right now. One thing to note is landlords wll be required or are required to give. The attorney general's landlord and tenant handbook. Whether it's, yu know, the link to it or a physical copy. That is what landlords are supposed to be doing right now. That's information to share. I'm doing that. Just talk about a little bit about next steps next steps as far as staffing will be, obviously to get through those those dates that Lynn had mapped in the previous slide. Get the posting out there. Obviously that hole high hiring process takes a little bit. So that's
the next step. There. With the content to finish up, pulling it together so that Co can look at it. And identify if there's any like legal. Issues or is anything that we have to address before put that out there before we finalize and then send it or translation services work to see on the website. Build. And continuing to work to see on on the website build. And we do have a another meeting already scheduled. Is. But last one. This was added, I thought that was my last slide. Sorry. This is added just 2 of them give people don't know the process. As I mentioned earlier, the housing trust fund. That's where the money is sitting right now. And in order to move that there has to be a
presentation in front of a jury to actually move the money. And then there's a pullback in the process to make sure that money gets moved over. There will be quarterly Chair Johnson has requested quarterly updates for 2026. To make sure that. There's report back on how that money is being spent and how. What's what it's being spent on. So that is something that's going to happen as well. And now we're finished. Well, thank you so much to both of I guess I will turn it over to Chair Johnson have these questions and comments. Thank you guys for taking the time to put together this Malone and as a reminder, too. We sent a memo in JULY of last year with requested information for this
contingency. And this was the pretext of the conversation and a lot of the requested materials, if not all of the requests to questions that we had outlined in the contingency mammal is what you see in the presentation in front of you. So I'm excited to see that response. Both from faith in from land from what the and fom Dsi because - really protections work overall that is supposed to be in place in MAY of this year. One o the questions that I had for the staff team and also just for the community members that are looking when faith was speaking just about community engagement, opportunities, officers very interested in putting together. Community of around to protections, especially
when it comes that piece that that was so pivotal, it's on poor aunt during the last passing of protections in order to get individuals access to see those community events. And I'm just wondering with a lengthy if there is the ability to if council officers are commissioners are interested in doing outreach within their ward on this topic that there's still time allocation for that and wondering if that will be something that we would be able to follow. But their offices, I respect the departments to do so. Yes. Chair Johnson, thank you for question. And yes, I think that's that's. Absolutely something that we can discuss. That's that's actually in the. The details plan timeline. So that would be absoluly. Let's talk about that and see
what that looks like. Wonderful. And as a follow-up vice chair, I was just hoping that you could share, but you can share a little bit more land on. So a timeline goes into that. The positions are posted. How long with the to be posted for and then also just looking at if there's any fluctuation with this timeline, what does that communication? Fact out with? Commissioners just so we're sense to continuously aware of when this rose posted, how to support and getting the word out that these positions are posted and then just like, you know, things happen with the process gets changed over time. But I do know that the goal of the department, at least from my understanding as they have at least 45 days
with staff to be able to begin to prep for protections as a program to go in place in MAY of this year. And so just wondering, how long if it is posted in FEBRUARY on the 17th dissipating that to be posted for how long and then I guess how have to be posted for and then also just like, you know, what is that in actuality between the time it's posted the time time, the present time. Thank you for your question. Chair Johnson in terms of how long the posting would be up. I would have to double back with our administrative assistant. She's the person in our office is responsible for that. So I'm not. I couldn't I couldn't say for sure. I'll take that as a follow up and find out how long they're posted and let you know that and the rest of that committee here and then
can ask again, just repeat again, the second part of your question, I want to make sure I caught that. The second part of the question was just will you be able to update the commissioners if there's something that changes with this timeline date? Yes, absolutely. If there's something that throws this off kilter, I would definitely let you in the other people on the hre committee. You know. Thank you. And just the one last follow-up on slide. 9 for the timeline. I just wanted to share with the commissioners. We have the opportunity last year to change both of those sections because at the time a pass intended protections. But we wanted to keep them in place. And so that interactions ordinance actually in into effect. And so pass the ordinance. Look at the effect in MAY, the anticipated, you know, at
least intent of our offices to ensure that those action items are taken prior to them going into effect in MAY, along with being able to have obviously a very important part of this puzzle. If it's patients as a piece for enforcement, too. And so I welcome, you know, commissioners who are interested in continuing to work with protections on the council side as it continues to be a priority for office. To see those things happen. But right now, the cap, the 2 policy pieces that Lynn touched on regarding on slide 9, basically I what's in place right now that have certain to the protections looked into them that when we passed the ordinance no longer be needed. And so that's something that I'm looking
forward to just update on that remember and recall last year it was these chapters ready to be repealed the any time. And so I just don't know what all what work would need to be done to make sure that that gets done before me. But that is an interest of office. And we're happy to support weekend. Perfect. John says that all of your questions for now. Yeah, the full of my questions have been pretty involved with just being able to access and talk to staff about additional questions that we had. So I don't have questions on this item, but definitely wanted in front of this body just as a follow through from the JULY memo that we put together because was really important. And there was a lot of conversation surrounding its I hope people found this helpful. Thank Looks like council
PRESIDENT Has the questions. Well, thanks, Vice chair and chair. Thanks so much for bringing this to our to the commission. I mean, I think it's really important to your point that we have the accountability kind of a through line from something where questions the response received. And this has been really informative. So thank you. I'm just curious. Kind of backing up just a You know, we don't always see hire new staff when we pass an ordinance, even if it's going to require more work for department. And and when we do, I know there's kind of a careful amount of work that goes into figuring out how many staff are going to need some curious how. Landed on 3 full-time people for tenant protection. Specifically how that compares to rent stabilization staffing and their workload. And then if it should turn out that either of
these folks are. Meeting, spend all their time on tenant protections or we have market like we need more folks. How will adjust? Thank you for your Questions very good and not sure to be honest how we arrived at I will definitely bring that back to the Sia find out. I wasn't involved in the conversations, but I see someone I know very well MAY have been director received that. You want to add something director Coming up to answer the question. Thank If you're thinking for me to answer that, I Into the Cedar safety and inspections. So 3 people came really early on in discussions. And it is because
of the breath of the work. For this covers a lot of ground. The what we did. We also trigger learnings from rent stabilization. That's why the titles that are use for rent, stabilization or not the exact totals for proposing for this because we learned a lot from that experience and the majority of the time is spent in the different levels needed with that said with rent stabilization a year in a statement civilization. We did a job profile for one of the positions and did that through hr because you think you know what, the work is going to be. You do your best judgment on the jb profile before any work is actually completed. And so we had done that process before implementing rent stabilization. We landed on a management assistant, one position after doing the a year's Worth administration did a job profiles study again on that position. And hr
determined management assistant 3. So we do those evaluations depending the actual outcomes of some you time to get everyone settles and think they have a good process everyone's. Running capacity, I guess say that so we take our best guess different then adjust as necessary. Shares it correct. As I'm reading the customer service positions, seems like they're written in such a way that they can also do other work for the department. Is that the intentions? Yes, that is the intention. So most of our customer service representatives, Noah time, a little bit about a lot of things so they might get caught like if there's 6 inches deep anything happening in the tough defend service lines across the city. Mean, the liklihood, effect of it? So these folks, our intent is to make them intended
protections. Still be able to ask those other questions. Really somebody contacts us and just one isolated question. Usually have other tidbits that go and we don't want our full the coast one call resolution. So they can have that but also be expected to have some deaths where you get where it's not. And te customer service representative physician anymore. As minutes starts requiring investigation. So theres investigation involved at all than it is to be handled by another person. And that's that's we get to it. But we found through for stabilization, te vast majority of people, the tenants and landlords. Really just looking for detailed answers related to their
specific situation. With how the ice. And the other questions. All right. Well, thank you, director. We see. Thanks so London, faith for all of your work on this and for your presentation. Really appreciate it. This is an item that we need to take action. And so take motion from Councilmember Johnson to approve this item. Is there any discussion? All right. Roll call, vote place. Almost. I. Vice chair toast. I 7 in favor 0 opposed. The resolution is adopted. Item. Number 2 staff report Sr 26 dash, 1, 3, introduction to conduit bonds for a fiscal homes project. Great deal turned over to direction and McMahon. And I believe we've got Wolf here to present. Do have general to present in the city is a presentation. And next week's when the action will be before you to make.
And public Chair Johnson for Chile vice chair and commissioners and Jenny Wolf with pd. And I'm here to do an introduction. To request a. This is the introduction to a request to the trade issue, kind revenue bonds for a fiscal homes of Minnesota. To start. I want to just step back and cover a quick overview of conduit bonds as I've done and other presentations like this. So kind of revenue bonds or special limited obligations of the governmental issuer in this case to a jury and they provide tax exempt interest rates for the bar, reducing the cost of their debt. Issued by revenue. Bonds are repayable solely from the revenues of the bar. Are not secured by any revenues for taxing powers of the
government. And a tree. And the city undertake no risk by issuing the bonds. The conduit for our secures loan funds either through a private lender or a bond underwriter, which is the case for a fiscal homes. They trace serves only as a conduit for the power to access the tax-exempt interest rates all due diligence into the project and bar is completed by the lender or the Bond underwriter. The jury can issue conduit revenue Bonds for nonprofit organizations that are ig's tax exempt under at the irs. And there is no limit on the amount that the tree can issue. And in the absence of a governmental issue or the fire would need to pursue taxable bonds or loans that would increase the cost of their debt. The Tre collects fee revenue when we
issue conduit revenue bonds. And now on to the specifics of this request. Up his school. Holmes is a longstanding nonprofit senior housing and care provider based in Saint Paul. They offer a variety of services, including memory care, assisted living senior living end of life care and transitional care. This couple homes in Minnesota and their affiliates own and operate multiple facilities. At their 6 plus Acre campus located at the corner of University in Fairview. The tree has previously issued multiple kind revenue. Bonds benefiting Episcopal homes. And there are 2 that remain outstanding shown here with a total total principal balance of nearly 36 Million. Now on to this specific project, fiscal
Holmes testified to the tree. For the issuance of conduit revenue. Bonds for new exists for them to acquire an existing 58 unit facility located at a team, a Common street in Ward, one and a map of the location is shown here as well as a picture of the building entrance. The property is known as Wills of Ramsey hail and includes 58 units serving seniors needing memory care with dementia and Alzheimer's. It's been operating in this manner since 2015, although the facility has a longer history in Saint Paul has shown here, fiscal homes pursued this facility when it was placed on the market to expand their presence in Saint Paul and ad memory care units to they're continuum of care as tey encounter more demand than they can beat wth their current cap of campus. Now on to the financing proposal.
They're requesting up to 18 million in bonds to be issued through a public offering and are written by colors. The bonds will not be rated. As is typical for single asset facilities. Colliers on behalf of the Bauer has requested a waiver of pe these minimum bond, a nomination policy for non rated Bonds. The minimum to nominations requested his 25,000 instead of the required 100,000. And this will mean that the individual bonds could be held in a principal amount as low as 25,000, which will expand access to the potential purchasers of the transaction. Colliers indicates the waiver would enable existing supporters of a fiscal homes to continue to invest in their bonds and lowers the overall cost 2 of
his skull to strengthen their organization. And furthermore, each initial purchaser of a bond will be required to execute an investor letter. This letter acknowledges the conduit nature of the bonds and confirms that neither the city nor a tree are backing the repayment. And the only pledged referendums are those of the bar. The pd credit committee the body that sets the minimum nominations to safeguard the kind of what nature of the bonds. The minimum to nominations, help to ensure only sophisticated investors hold the kind with funds demonstrating a clear understanding that the bonds are not back by the city or tray and only reap are repayable by the bar not have a car. This is the first time I've had this waiver of the minimum to nominations and a proposal before you. So if
there are questions, I'll be happy to address But but I do kind of cover that has engulfed further in. The proposed sources and uses fr that project to 16 million, 930,000. And 15.4, 3 million would be the bonds issued by the tree. And then another one and a half million from the bar. As shown the primary use is to acquire the facility and they also then have to pay the cost of issuing the bonds and as well as funding a debt service reserve. The pd credit committee reviewed the Conduit Bond request. JANUARY 20th, including the waiver request for a waiver. The credit committee's review is solely to confirm the proposal meets our internal policies relating to conduit revenue. Bonds or such policies are waived. The internal policies cover the
payment of fees and the sale and placement requirements. The credit committee is not reviewing the repayment plan are indicating any opinion of the quality of the credit. As mentioned. This request includes a waiver of our minimum bond to nominations under our sale rquirements. The credit committee reviewed the waiver request and notable factors include. Waivers have been approved for past a tree. Bonds issued. And for a possible homes, including bonds that will be on parity. Waivers have similarly been approved for other nonprofit housing developers. At the meeting on JANUARY. 20th, credit committee approved the waiver of our minimum nominations. 2 25,000 from the required 100,000 as mentioned, the waiver will enable galore interest unable lower interest costs, which will enable up a school homes to continue their
commitment to serve seniors in our community. For many more years. Furthermore, one of the stated outcomes of the nominations. As for supporters of a couple homes to purchase a Trayvon's helping to signify an understanding of the conduit nature of the bounce. Tree will collect all required fees on the poposed transaction. The require closing fee is one quarter of one percent of the principal issued, which is estimated to total 38,005. 75. They treat board is required to authorize the issuance of the bonds. Ad that will include a public hearing. The city council is also required to approve the issuance of the bonds as they are the elected representatives of the governmental unit resolutions will be considered by both bodies in one week on
FEBRUARY. 4th. And if couple homes into space closing in on the acquisition in early MARCH. Lastly, just a quick reminder that when the tree does issue kind of revenue, bonds certain compliance that is triggered for the bar and for the construction of the project. With the sole purpose of this financing to acquire property. The only complaints triggered relates to the city's affirmative action, equal employment opportunity requirement. The Bauer will be required to submit affirmative action plan to the city to be certified. The Sands, my portion of the presentation and a questions for me. I would like to picks this couple home ceo MISTER Time, Henry to address the board. Think of I think. Question over going to yet. Willful
take it after still be Something MR. Henrys company so. Thank you very much. My name is Tom Henry and the ceo homes. I been involved with the school homes for. I think I 3 and drag Christmas carols. It's in my in my family for a long time. And so we use kind squad of And as you saw in some of the presentations and it we like this option, you know, for especially for this project. Mainly because it it's secured for us. Yeah, not by you. But I mean our donors really like the fact that that we have the
city's back and we gt you know, some approval with that. So we really appreciate that. This of this program is available and we appreciate that. The consideration for that. We're interested in purchasing the Willows because as you heard, we are out of space. We have 580 people live in our main campus. We serve about 2300 people in the Twin Cities area. And memory care issues are. One of our number one issues that that we see the opportunity by the Willows was great for us. Gets another 58 beds available for not just our residents, but for people that, you know, come to to serve. We have a waiting list about 100 people who are looking for some kind of
memory care services there's 40 of those 100 people that are kind of like. Actively waiting and say we've got to hurry Hurry Hurry We have 60 And so the urgency for us is is pretty Bay. I invite you if you've never been over to the campus, you can go over there and you can see that. Every square inch. As Ben do that. So there's just nowhere place for us to go. And we really love to stay in the neighborhood. And we really love to to not move to the suburbs. You know, those kinds of states want to stay Saint Paul. That's this project is really important for peaceful homes. So we appreciate your consideration and your support. I think that we have
a, you know, always enjoyed great relationship with city you hope people see ssa as an asset to the community. So I'm free to answer any questions that you MAY have. And turned over to conserve. W had a question journey ask anyone icu for some Thank you, Vice chair and thank Chair Johnson and Vice chair chills. So good to see you, ceo Ed Henry. I do appreciate, you know, have a chance to talk over the phone and is getting an update, particularly about, you know, your experience your presence, particularly in city of Saint Paul and just background around why you are invested and to moving the neighborhood. I you know, aware how large this campus is. That's really in a in a
very unique neighborhood that already has a lot of seniors and a lot of people enjoy living I space or excuse me aging and in place. My question particularly for you is know, last time we talked about just like affordability and understanding this lawn dusk on to on. It's just more so acquisition. It's not like a subsidizing of like the affordability. And there's like a home. A new show of like, you know, health care and like the costs senior care. But curious if you could speak a little bit just like the community impacted like the jobs that acquisition will create. We know we definitely want to make sure like Saint Pius home for people who are looking for housing. We also want to make sure like Saint home for folks. We're looking
for jobs and especially in their neighborhood so he can speak to what this be creating jobs or would this just be like repurposing your existing staff? So yeah. I think paramount importance to us, too. We employ about 650 people Saint Paul. Location. We have about 700 employees in the Twin Cities area. And so we're pretty committed expanding employee base keeping that played bass this particular project is not a improvement for employees. I mean, we There's 3 jobs that we know that we want to add. But those are also contingents on how well You kow, filling in and being able to maintain the building. Confidence that we can grow the one of the reasons that we're very interested in this is that historically the current owner
has had trouble filling the building. And so they've been running at around 60 8. Yes, 70% occupancy. From the statistics. I just said we have 100 people call. So we believe that we confidently. So the building up to reasonable occupancy ad with that will become the need for more staff. To I can't really stand up here and say, oh, this will add x amount of staff, you know, to to the payroll. So, but that gives you a backdrop. Of that. Thank Any other questions? thank you so much for being here in New York. I'm Jenny, thank you for for your presentation as well of doing questions for you to. That, I thought turnover customer Bree. I have a question about
the procedural process and we can also talk offline. If it. require more of a complex, the but you're talking about there's a public hearing for hra and city councils. So I'm just looking forward in terms of like House, the council also going to be involved is just are solely resolution. Are we going to have to like recess and didn't have the public hearing during city Council, if you could just walk us through like procedurally. They sergio's Johnson and Commissioner Bowie and so that the public hearing will be held at the Board meeting a week from today. So there will not be a separate public hearing at City Council. When the city council meets at 3.30, they will consider a resolution. That resolution
generally on consent. But everyone will be in attendance if it if needs to have a discussion or anything. But the city Council action is required because of just the fact that the a tree board is not elected. They're appointed by virtue of being elected as a city council member. And so the irs rules. Asked the city council also are from. The issuance of the bonds so that's all the action is at City Council. And then my last question on out there reporting you mention on once the kind bonds are adopted and we know. Adopt the resolution city Council. What is a time frame for the reporting? Is this like a report after the buildings at acquired are after? It's, you know, the project is completed. I'm just trying
to get a timeline of when upcoming reporting is expected. To Johnson, Vice Joseph Commissioner. We and I'm not sure what reporting near referring to. My apologies. And you mentioned it was towards the end. That's what I was just trying to get more information in my deferment of action. Ok, yt? Yeah. So the so the organ at the organization that is created to own and operate the facility will need to certify and affirmative action plan with the And so they they will do that before the closing and then that plan will be on file for 2 years. Ok? Thank you. So that's not something that comes back to us. That's just internal, correct? Okay. Thank you. Any other questions. All right. Thank Well, thank you, everyone
for coming today. I also mention the previous resolution about the Housing Trust fund. You'll see that item also on the city Council agenda today. Number 25, and that's what our public hearing will be. So I just want to make sure folks were aware of that. And Chair Johnson, thank you so much for jining us. It's wonderful to see you And with nothing else to come for us, we are adjourned.