St. Paul City Council — Transcript
Tuesday, July 7, 2026
Affordable Housing Loan Amendment (TWWV Limited Partnership)
Lease Agreement for Union Pacific Railroad Bridge Reconstruction
Votes (2)
Staff report SR 26-134 introduction to requested TWWV Limited Partnership Loan Amendment District 3 W 2
The item introduced a request from Common Bond, a non-profit developer, to amend the TWWV Limited Partnership loan. This amendment would remove Tori Day San Miguel from the collateral of an original CDBG loan, allowing it to proceed independently with rehabilitation funding. The change is aimed at reducing financing costs and complexity for Tori, with Westminster Place and Vista Village pursuing separate funding. The HRA's loan is noted to be in a first lien position, minimizing risk, and the loan is a deferred loan, typically not repaid if affordability terms are maintained.
Staff report 26-136, introduction to proposed three-year lease with Union Pacific Railroad, UPRR, for exclusive use of HR property at 43 Water Street for its reconstruction of the Mississippi River Lift Bridge, District 3, W 2.
This item introduced a proposal for a three-year lease between the HRA and Union Pacific Railroad (UPRR) for the HRA's gravel parking lot at 43 Water Street. UPRR requires the site for construction trailers and employee parking during the three-year reconstruction of the adjacent Robert Street Railroad Bridge. The lease is beneficial to the HRA, providing $19,200 annually in rent (higher than current parking revenue) and transferring site maintenance/security to UPRR. The property's current state lacks adequate stormwater infrastructure for continued parking operations. After the lease, the property is slated for potential transfer to the city for parkland, aligning with the Westside Flats master plan.
Notable Quotes (6)
TWWVLP is a um a combination of three different common bond properties. So the T stands for to de San Miguel which is 142 units um located in district 3. Westminster Place is 99 units located in district 5. and Vista Village is 48 units located in district 3.
And this request is coming right now um because of what I mentioned before that Tori is proceeding to um financial close for a rehabilitation. Um and so their request is to essentially keep TWWV limited partnership but remove Tori as collateral from um the original CDBG loan.
So, as long as they keep the property affordable and like keep all the terms that they have been required to do, then typically um those aren't typically paid back.
Union Pacific Railroad is going to be doing work on the just adjacent Robert Street Railroad Bridge. It's actually a three-year project for that bridge work that they're going to be doing. And so they approached us to talk about using some of that parcel, using that parcel to be able to have um to help support that construction project and to really reduce the impact to the surrounding community and neighborhood from all of the construction and everything going on for that project.
They would pay the HA about 16 not about they would pay the HA $1,600 in month in rent which will total $19,200 a year to the HR noting that currently approximately the usual annual amount that the HA receives in parking revenue is around 11,000.
The Westside Flats master plan identifies a space as future parkland or for park operations.
Ordinances & Resolutions (7)
Staff report for the introduction of the TWWV Limited Partnership Loan Amendment.
Proposed amendment to an original CDBG loan, affecting three affordable housing properties.
Original loan associated with the TWWV Limited Partnership.
Funding application for the Westminster and Vista projects.
Staff report for the introduction of the proposed three-year lease with Union Pacific Railroad.
Agreement for exclusive use of 43 Water Street property during bridge reconstruction.
City plan that identifies 43 Water Street as future parkland or for park operations.