HomeMy WebLinkAboutResolution No. 2014-044 Hen Co Affordable Housihng Incentive Funds WALT Homes Within Reach e
RESOLUTION NO. 2014-44
APPROVING USE OF HENNEPIN COUNTY AFFORDABLE HOUSING INCENTIVE FUNDS FROM FISCAL
YEARS 2014 AND 2015 BY WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST FOR HOMES
WITHIN REACH PROGRAM
WHEREAS, the Hennepin County Housing and Redevelopment Authority (HCHRA) in Resolution No. 12-
HCHRA-0015 has approved the use of a $100,000 Affordable Housing Incentive Fund (AHIF) grant, $20,000 of
which will be used toward the purchase of a land trust home in the City of Edina, contingent upon the City of
Edina's consent to the HCHRA's participation in the project; and
WHEREAS, the purchase of the project 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. 13-
HCHRA-0016 has approved the use of a $120,000 Affordable Housing Incentive Fund (AHIF) grant, a portion
of which will be used toward an Edina project to be determined, contingent upon the City of Edina's consent to
the HCHRA's participation in the project; and
WHEREAS, the project to be determined 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 grants 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 Hou 'ng and Redevelopment Authority in the
West Hennepin Affordable Housing Land Trust's Homes Within Re h., rogram is approved.
Dated: May 6, 2014
Attest: �p
Debra A. Mangen, City Clerk James" . 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 May 6,2014,and as recorded in the Minutes of said Regular meeting.
WITNESS my hand and seal of said City this(_t-ay of M 20_Z�.Z
(J �b-�
CITY OF EDINA
4801 West 50th Street•Edina,Minnesota 55424
www.EdinaMN.gov•952-927-8861 . Fax 952-826-0389