New Owner Requirements
To obtain certain sites and buildings from the Port Authority for a dollar, the agency has worked with its partners to establish specific criteria design to maximize economic value including jobs. These include:
- Value-added light manufacturing, industrial and other uses providing significant jobs and/or tax base
- For manufacturers – a minimum of $60 per square foot construction value
- Building to land coverage ratio of at least 35%
- Minimum one job per 1,000 square feet of building space
- A guarantee of a minimum wage of $11.00 per hour plus benefits
- 10-year Workforce Agreement with Port Authority
- Commitment to employ Saint Paul residents in at least 70% of new hire positions
- Commitment to abide by the Port Authority’s Protective Covenants
- Commitment to undertake a due diligence process with Port Authority experts to consider construction of energy efficient buildings and sustainable site design
Criteria designed to maximize jobs and career opportunities for Saint Paul’s families and to maximize high-tech manufacturing and other value-added uses.
