12/20/1982 Council Minutes - Laserfiche WebLink

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Special Council Meeting December 20, 1982 �. of their money. There was discussion on the ability to change this figure and Mr. Liddle said it could be adjusted, either up or down. Mr. Liddle said this hearing is on the housing plan and the figure of percentage need not be considered tonight. This will be in the housing program. Mr. Marier asked if Mr. Liddle represents Lino Lakes? Mr. Liddle said he had been retained by the City of Lino Lakes to assist in the preparation of the housing plan and program. Once the preparation of the bond sale, then he bills the dollar amount. Mr. Marier asked what happens if any of the developers do not follow through - who is responsible for those bonds? Mr. Liddle said Dain Bosworth purchases the bonds and reoffers them for sale. The City has no financial responsibility in this program. Mayor Benson asked Mr. Short for his comment. Mr. Short noted that the housing plan is out of the Comprehensive Plan as updated. There has been a housing policy added. He read this addition. Under implementation Number 5 had been added to relate to the Mortgage Revenue Bonds. Mr. Short reported that the Human Resources Committee had reviewed this today and had recommended a) amend the bond plan to indicate that the funds would only be used in the 1990 urban service area. Mr. Short said they have asked what effect does this review have on the consideration of this by the MHFA and they have not received an answer and according to law, it should not have any influence whatsoever. Mr. Kulaszewicz asked if other smaller developers could be included in this program in the urban service district. Mr. Short agreed, this is one of the recommendations. There has been some discussion in this area but no commitments at this point in time. Mr. Liddle said this is an allowable operation and can be done at any time, either before or after the bond sale. Mr. Short was asked about the qualifications for persons who would be in the market for these homes. Mr. Short explained the 80% level of income would be approximately $25,000.00. This is a modest income level. Mr. Liddle said the State sets up the income level. The price of the home they can purchase to include the house, lot and all necessary structures to make the house livable. There was discussion on the limits of income, the limit of the cost of the home and who can qualify. Mr. Reinert asked if there was any control the Council has as to where these homes are to be constructed and Mr. Liddle said, there are none at this time, but he felt this could be done. Mr. Liddle said it is not necessary to have this in the program, he would suggest this be done at a later date. Mr. Liddle pointed out the Council could approve the plan tonight, could approve the program next week, and the money is allocated, this Council may decide not to go forward and cancell the entire program. There was a question as to the cost of Mr. Liddle's services and Mr. Liddle said the City is not responsible for his fees and the City has no obligation to him. Mr. Marier asked what the negotiations with the developers as to the responsibilities of the City and Mr.. Schumacher said the developers have agreed to pay all the expenses. Mr. Marier asked if this was in writing and Mr. Schumacher said, No. Mr. Marier questioned Mr. Short's time - this, too, is to be paid by the developers.