09-09-2020 Council Packet - Laserfiche WebLink

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A-1 EXHIBIT A PROGRAM FOR SENIOR LIVING DEVELOPMENTS UNDER MINNESOTA STATUTES, CHAPTER 462C Proposal; Authority. The City of Little Canada, Minnesota (the “City”), proposes to: (a) adopt a Housing Program pursuant to Minnesota Statutes, Chapter 462C, as amended (the “Act”), (b) authorize the issuance by the City of Deephaven, Minnesota (the “Issuer”) of taxable and/or tax-exempt revenue bonds under the Act, and (c) pursuant to applicable authority conferred upon the City by the laws of the State of Minnesota, including without limitation the Act, take such other actions as may be necessary or desirable in furtherance of the objective of financing the acquisition, construction and/or improvement of new and existing senior living facilities described as follows (each a multifamily housing development under the Act, and collectively, the “Developments”): 1. 7900 Austin Way, Inver Grove Heights, Minnesota a. 20-units of assisted living b. 12-units of memory care 2. 2740 Rice Street, Little Canada, Minnesota a. 18-units of assisted living b. 14-units of memory care 3. 2710 13th Avenue East, North St. Paul, Minnesota a. 18-units of assisted living b. 14-units of memory care 4. 197 County Road B2 West, Roseville, Minnesota a. 17-units of assisted living b. 8-units of memory care 5. 580 Liberty Way, Vadnais Heights, Minnesota a. 18-units of assisted living b. 14-units of memory care This Housing Program is subject to amendment or waiver by the City. Purposes. In creating this Housing Program, the City is acting in furtherance of its findings that the preservation of the quality of life in the City is in part dependent upon the maintenance and provision of adequate, decent, safe, sanitary, and affordable housing stock, including housing for the elderly, within the meaning of the Act; that accomplishing the goals of this Housing Program is a public purpose and will benefit the residents of the City; that the need exists within the City to provide housing facilities to and for the benefit of elderly persons; that there exist or are expected to exist elderly persons and families within the City who are and will be able to benefit from and are in need of this Housing Program; that this Housing Program is necessary in view of the limited resources that may be available to such persons relative to the expenses involved in accomplishing the type of objectives outlined in this Housing Program in the absence of one or more of the forms of assistance described herein or otherwise available pursuant to the Act; and that the City hereby finds that such forms of assistance are often necessary for the benefit of such persons, families, and goals and that, furthermore, the successful implementation of the objectives of the kind described in this Housing Program has been found to provide impetus for the development of other housing and health care facilities, as well as the general development of the