HomeMy WebLinkAboutResolution No. 2016-056 Hen Co Affordable Housing Incentive Funds 2015-2016 r
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RESOLU \ 0. 2016-56
APPROVING USE OF HENNEPIN COUNTY AFFORDABLE HOUSING INCENTIVE FUNDS
FROM FISCAL YEARS 2015 AND 2016 BY WEST HENNEPIN AFFORDABLE HOUSING
LAND TRUST FOR HOMES WITHIN REACH PROGRAM
WHEREAS, the Hennepin County Housing and Redevelopment Authority (HCHRA) in
Resolution No. 15-HCHRA-0012 has approved the use of a $150,000 Affordable Housing
Incentive Fund (AHIF) loan, for West Hennepin Affordable Housing Land Trust's Homes Within
Reach program, contingent upon the City of Edina's consent to the HCHRA's participation in the
program; and
WHEREAS, the Hennepin County Housing and Redevelopment Authority (HCHRA) in
Resolution No. 16-HCHRA-0019 has approved the use of a $289,000 Affordable Housing
Incentive Fund (AHIF) loan, for West Hennepin Affordable Housing Land Trust's Homes Within
Reach program, contingent upon the City of Edina's consent to the HCHRA's participation in the
project; and
WHEREAS, the West Hennepin Affordable Housing Land Trust's Homes Within Reach Program
will increase/preserve the supply of affordable housing in the City of Edina by
providing/preserving affordable homeownership in Edina using the Community Land Trust
model; and
WHEREAS, the loans from the HCHRA will complete the financing required for West Hennepin
Affordable Housing Land Trust's Homes Within Reach program.
BE IT RESOLVED, that the participation of the Hennepin County Ho sing and Redevelopment
Authority in the West Hennepin Affordable Housing Land Trust's Ho s Within Reach program
is approved.
Dated: June 7, 2016
Attest:
Debra A. Mangen, City Cle Aameovland, 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
Resolution was duly adopted by the Edina City Council at its Regular Meeting of June 7,2016, and as recorded in the Minutes of
said Regular meeting.
WITNESS my hand and seal of said City this day of 20
CITY OF EDINA
4801 West 50th Street•Edina,Minnesota 55424
www.EdinaMN.gov•952-927-8861 • Fax 952-826-0390
Resolution No. 2016-56 Page 2
ACTION ON THE RESOLUTION:
Motion for adoption: Member Swenson
Seconded by: Member Staunton
Voted in favor of: Members Brindle, Staunton, Stewart, Swenson and Mayor Holand
Voted against: None
Abstained: None
Resolution adopted June 7, 2016
1 hereby certify that the foregoing is a true and correct copy of a resolution adopted by the City
Council of the City of Edina, Minnesota, at a duly authorized meeting held on June 7, 2016.
Debra A. Mangen, City Clerk