11-26-1985 Council Agenda - Laserfiche WebLink

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City has prepared a Housing Plan, and a Notice of Public Hearing on the Housing Plan was published by the City at least 30 days before the hearing on the Housing Plan, all as required by Section 462C.01 of the Act. (d) A public hearing was held on the Housing Plan on November 26, 1985, after notice was published, all as required by the Act, at which public hearing all those appearing at said hearing who desired to speak were heard and written comments, if any, were considered; (e) The City has received from Sherman Rutzick (the "Developer ") a proposal that the City undertake a program to finance a Project hereinafter described, through the issuance of revenue bonds or obligations (in one or more series) (the "Bonds ") pursuant to the Act; (f) Pursuant to the Prior Resolution, the City Council gave preliminary approval to the project and the proposed program for the financing thereof, including the issuance of revenue bonds therefore, subject to (i) preparation of, and approval and adoption by the City Council of, a Housing Plan meeting the requirements of the Act; (ii) review and comment on the Housing Plan by Metropolitan Council; (iii) consideration of any and all matters raised at the public hearing on the Housing Plan and on the financing program for the Project; (iv) review and comment on the financing program for the Project by Metropolitan Council and approval of the financing program by the Minnesota Housing Finance Agency (the "MHFA ") and (v) final approval by the City as to ultimate details of financing the Project. (g) The City desires to: facilitate the development of rental housing within the community; encourage the development of affordable housing opportunities for residents of the City; encourage the development of housing facilities designed for occupancy by persons of low or moderate income; and encourage the development of 2 ;tiilIVNe.'1It