RES 1994-73 - 00003101106
' RESOLUTION NO. 73 - 1994
RESOLUTION APPROVING ANOXA COUNTY COMMUNITY ACTION
PROGRAM LEASEHOLD COOPERATIVE TAX STATUS IN HYDE PARR
WHEREAS, the Anoka County Community Action Program (ACCAP) provides affordable
housing for low and moderate income individuals; and
WHEREAS, ACCAP has executed purchase agreements on three multiple family
properties in Hyde Park (6008 - 2nd Street, 5908 and 5916 - 2 1/2 Street); and
WHEREAS, ACCAP intends to use HOME funds and to apply to the Minnesota Housing
Finance Agency for funds to acquire and rehabilitate these units; and
WHEREAS, ACCAP proposes to operate these apartment units as leasehold
cooperatives; and
WHEREAS, the rehabilitation of these buildings is consistent with the City of
Fridley's housing program; and
WHEREAS, the Fridley Housing & Redevelopment Authority has agreed to provide
rehabilitation assistance.
NOW, THEREFORE, BE IT RESOLVED, that the City of Fridley supports the ACCAP
project to operate the three multiple family properties as leasehold
cooperatives; and
BE IT FURTHER RESOLVED that the City endorses the property to be taxed at the
cooperative tax status rate.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 6TH DAY OF
SEPTEMBER. 1994.
ATTEST:
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WILLIAM A. CHAMPA - CITY OLERK
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WILLIAM NEE - MAYOR