HomeMy WebLinkAboutResolution No. 2011-118 Hen Co Affordable Housing Funds INA,
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RESOLUTION NO. 2011-118
APPROVING USE OF HENNEPIN COUNTY AFFORDABLE HOUSING INCENTIVE FUNDS FROM FISCAL YEARS
2010 AND 2011 BY WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST FOR HOMES WITHIN REACH
PROGRAM
WHEREAS, the Hennepin County Housing and Redevelopment Authority (HCHRA) in Resolution No. 10-HCHRA-0010
has approved the use of a $140,000 Affordable Housing Incentive Fund (AHIF) loan, for the 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 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 Hennepin County Housing and Redevelopment Authority (HCHRA) in Resolution No. 11-HCHRA-0009
has approved the use of a $70,000 Affordable Housing Incentive Fund (AHIF) loan, for the 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
*fHEREAS, 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 the West Hennepin Affordable Housing
Land Trust's Homes Within Reach program to go forward.
BE IT RESOLVED, that the participation of the Hennepin County Housing and Redevelopment Authority in the West
Hennepin Affordable Housing Land Trust's Homes Within Reach program is approved.
Dated: November 15, 2011
Attest: l LL4 (1&,Z4� - I —
- - —
Debra A. Mangen, Caty C k James 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 Resolution was duly adopted by the Edina City Council at its Regular Meeting of November 15, 2011, and as
0corded in the Minutes of said Regular meeting.
WITNESS my hand and seal of said City this day of _, 20
City Hall 952-927-8861
4801 WEST 50TH STREET FAX 952-826-0390
EDINA,MINNESOTA, 55424-1.394 www.CityofEdina.com TTY 952-826-0379