HomeMy WebLinkAboutResolution No. 2016-037 Approving HC HRA Funds 3330 W 66th Street wt�l�lf
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RESOLUTION NO. 2016-37
APPROVING USE OF HENNEPIN COUNTY HOUSING AND REDEVELOPMENT
AUTHORITY FUNDS FOR 3330 WEST 66TH STREET
BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as follows:
Whereas, Beacon Interfaith Housing Collaborative (the "Developer") intends to construct the 66
West Apartments located at 3330 West 66th Street, Edina, Minnesota consisting of 39 efficiency
apartment units targeted as affordably-priced housing for teenagers and young adults who were formerly
homeless; and
Whereas, the Developer has acquired the site, secured final site plan approvals and commitments to
fully fund the project; and
Whereas, the development of new affordable housing frequently involves financial support from a
number of different sources; and
Whereas, the Hennepin County Housing and Redevelopment Authority (HCHRA) in Resolution No.
15-HCHRA-0012 has approved the use of a $200,000 Affordable Housing Incentive Fund (AHIF) loan
and in Resolution No. 14-HCHRA-0018 has also approved the use of a $300,000 Transit Oriented
Development (TOD) loan for the 66 West Apartment project contingent upon the City of Edina's
consent to the HCHRA's participation in the project; and
Whereas, the 66 West Apartment project will increase the supply of affordable housing in the City of
Edina by providing 39 new units of housing; and
Whereas, the AHIF and TOD loans from the HCHRA are necessary to complete the financing
required for the 66 West Apartment project to go forward.
Now, Therefore, Be It Resolved, that the participation of the Hennepin County Housing and
Redevelopment Authority in the 66 West Apartment project is hereby approved.
Adopted by the Edina City Council this 15th day of March, 2016.
Attest:
Debra A. Mangen, Cit Clerk ames B. Hovland, Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN ) SS
CITY OF EDINA ) CERTIFICATE OF CITY CLERK
I, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the attached and foregoing
City Council Minutes is a true and correct copy of the Resolution duly adopted by the Edina City Council at its regular meeting
of March 15,2016,and as recorded in the Minutes of said regular meeting.
WITNESS,my hand and seal of said City this day of 2016.
Debi a A. Mangen, City Clerk
CITY OF EDINA
4801 West 50th Street•Edina,Minnesota 55424
www.EdinaMN.gov.952-927-8861 . Fax 952-826-0390