A primary focus was the presentation by Todd Hurley of the Saint Paul Port Authority, which emphasized the organization’s mission to expand the tax base, create quality jobs, and advocate for sustainability and equity. The Port Authority, partially funded by the city’s tax levy, plays a role in Saint Paul’s economic development. Catherine Starkey, the Chief Development Officer, provided an overview of the River Terminals, which handle substantial river shipping activity, supporting over 700 jobs and generating approximately $2.3 million in tax revenue annually. Starkey also highlighted the Port Authority’s significant involvement in brownfield redevelopment, having transformed 17 sites into business centers. The Heights project, described as the largest redevelopment in the Port Authority’s history, aims to address job shortages by creating 1,000 housing units and 1,000 living-wage jobs.

Community input has been integral to the Heights project, influencing design decisions such as the use of alleys instead of driveways, a change that received positive feedback. Starkey mentioned partnerships with organizations like Sherman Associates and Twin Cities Habitat to secure funding, including an $11 million state bonding allocation and $7 million from excess tax increment financing for infrastructure improvements. The project is on schedule, with substantial completion expected by 2030.

The meeting also delved into the Port Authority’s financial strategies. Ali Houston, Vice President of Financial Services, discussed loan programs and fiscal services. The PACE program has generated over $300 million in green energy loans, placing Minnesota sixth nationally. This initiative, along with the trillion BTU program, has resulted in substantial energy savings and investments, supporting local businesses by reducing energy costs.

The Port Authority’s revenue strategy includes issuing tax-exempt municipal bonds to spur private development, aligning with the city’s goals of job creation and sustainability. The operating budget relies on a diverse revenue base, with 30% derived from property taxes and the rest from development fees and loan program revenues. This diversification allows the Port Authority to focus on economic development and job creation.

The committee explored the rising costs of legal services due to collective bargaining agreements, which have nearly doubled the cost of a half-time equivalent in the city attorney’s office. Despite concerns, these costs are incorporated into the operating budget. The need for additional staff to manage future development projects was also discussed, with potential investments totaling approximately $30 million.

Attention then shifted to the River Center and Visitors Authority, as Jamie Lucky Hendrickson, President and CEO of Visit Saint Paul, outlined efforts to promote the city as a destination for conventions and tourism. The River Center’s budget revealed significant revenues and expenses, with the parking ramp being a major revenue source. The operational model benefits from its proximity to the Xcel Energy Center, enabling resource sharing across venues.

The impact of the COVID-19 pandemic on the events industry was acknowledged, with a positive outlook for future bookings. Susan Hubbard noted a significant rebound in demand for events, emphasizing the River Center’s role in supporting the city’s economic vitality.

Further discussions highlighted the need to optimize revenue through event bookings and address challenges such as employee retention and aging facilities. Sustainability standards remain a priority, with investments in capital projects necessary to maintain LEED Platinum certification for the Ray Wilkins Auditorium. The budget for Visit Saint Paul, funded by a portion of the hotel lodging tax, includes strategic goals to enhance tourism marketing.

The committee also explored festival marketing support, with funds allocated to assist community festivals in managing marketing costs. A new initiative, Destination Uplift, was introduced to support local small businesses with digital marketing education. The session concluded with discussions on potential expansions and improvements to the River Center and the Xcel Energy Center, with ongoing assessments expected to yield results by late December.