03-14-2012 Additions - Laserfiche WebLink

Home Browse Search

way a S127 Wanaa‘v MAYOR Bill Blesener COUNCIL Rick Montour John Bets Michael McGraw Shelly Boss 515 Little Canada Road, Little Canada, MN 55117 -1600 ADMINISTRATOR (651) 766 -4029 / FAX: (651) 766 -4048 Joel R Hanson www.ci.little-canada.mn.us March 22, 2012 Mr. Bob Isaacson Minnesota Department of Employment and Economic Development First National Bank Building 332 Minnesota Street, E200 St. Paul, Minnesota 55101 Re: City of Little Canada, Minnesota - Community Services Revenue Bonds (South Metro Human Services Project), Series 2012 Dear Mr. Isaacson: The City of Little Canada, Minnesota (the "City ") is proposing to issue revenue bonds (the "Bonds ") in an amount not to exceed $4,900,000 pursuant to Minnesota Statutes, Section 469.152 to 469.1651(the "Act "), and is seeking approval of the "Project" consisting of the acquisition and renovation of 1111 Viking Drive in Maplewood, Minnesota to create a residential and therapeutic treatment facility with 16 units of transitional housing and 2,500 square feet of meeting and office space and the refinancing of the other transitional housing and community service facilities of South Metro Human Services (the "Borrower "), a Minnesota nonprofit corporation, who will own and manage the Project. Attached hereto in duplicate is the application of the City for approval of the Project pursuant to the Act. A copy of the Resolution approving the issuance of the Bonds adopted by the City Council is attached to the application. As indicated in the attached Resolution, we believe that this Project fully meets the public purpose requirements of Mimlesota Statutes, Sections 469.152 to 469.1651 (the "Act "). The Borrower provides clinical mental health services, along with transitional housing and treatment to the severely and persistently mentally ill. The City Council desires to help promote provision of health care facilities and believes that the financing of the Project by the issuance of the revenue Bonds will accomplish that objective. Reference is made to the Resolution for a more definitive statement of the public purposes served by the financing.