HRA RES 1996-11 - 00001090HRA RESOLUTION N0. 11 - 1996
RESOLUTION AUTHORIZING ACQUISITION OF 380 - 57TH PLACE N.E. UNDER
THE PROVISIONS OF THE PUBLICLY OWNED TRANSITIONAL HOUSING (POTH)
PROGRAM AS ADMINISTERED BY THE MINNESOTA HOUSING FINANCE AGENCY
WHEREAS, the Anoka County Community Action Program (ACCAP) owns a four-plex
situated in the City of Fridley, County of Anoka, State of Minnesota, legally
described as Lots 12 and 13, Block 6, City View; and
WHEREAS, ACCAP made application to the Minnesota Housing Finance Agency (MHFA)
for Publicly Owned Transitional Housing (POTH) program funds, and has been
selected for participation in the POTH program; and
WHEREAS, the Ci ty of Fri dl ey HRA on J ul y 17, 1995 ag reed to act as the publ i c
entity in compliance with the POTH program requirements; and
WHEREAS, there is a demonstrated need for short-term transitional housing for
low income residents, particularly for families from the City of Fridley and the
County of Anoka; and
WHEREAS, ACCAP has adopted a transitional housing program designed to assist in
fulfilling said demonstrated need for such short-term housing; and
WHEREAS, ACCAP desires to manage this property and lease said property to
Lutheran Social Services, Inc., who will make this property available for their
clients to live in as part of their transitional housing project; and
WHEREAS, ACCAP has substantially rehabilitated the property; and
NOW, THEREFORE, BE IT RESOLVED THAT, the Chairperson and Executive Director of
the HRA are hereby authorized to execute the deferred loan repayment agreement
and mortgage in an amount not to exceed Two Hundred Thousand ($200,000) which
will be forgiven in 20 years, provided that the HRA retain ownership of the
development for the purpose of providing transitional housing for such time
period.
BE IT FURTHER RESOLVED, that the Chairperson and the Executive Director are
authorized to execute any and all other necessary documents regarding the
financing, operation, and maintenance of the property, including the Family
Housing Fund documents, the Funding Agreement, Loan Note, and Mortgage Agreement
or others as necessary.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE
CITY OF FRIDLEY THIS 13TH DAY OF JUNE, 1996.
LAWRENCE R. COMMERS - CHAIRMAN
ATTEST:
WILLIAM W. BURNS - EXECUTIVE DIRECTOR