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LOCAL HOUSING G IN CIENTIVES ACCOUNT <br />T <br />GRANTEE: City of Mounds View <br />GRANT NO. SG -10103 <br />PROJECT: Boulevard <br />GRANT AMOUNT: $500,000 <br />FUNDING CYCLE: 2017 <br />COUNCIL ACTION: November 29, 2017 <br />EXPIRATION DATE: December 31, 2020 <br />METROPOLITAN LIVABLE COMMUNITIES ACT <br />GRANT AGREEMENT <br />THIS GRANT AGREEMENT ("Agreement") is made and entered into by the Metropolitan <br />Council ("Council") and the Municipality or Development Authority identified above as <br />"Grantee." <br />WHEREAS, Minnesota Statutes section 473.251 creates the Metropolitan Livable Communities <br />Fund, the uses of which fund must be consistent with and promote the purposes of the Metropolitan <br />Livable Communities Act ("LCA") and the policies of the Council's Metropolitan Development <br />Guide; and <br />WHEREAS, Minnesota Statutes sections 473.251 and 473.254 establish within the Metropolitan <br />Livable Communities Fund a Local Housing Incentives Account and require the Council to <br />annually distribute funds in the account to Participating Municipalities that have not met their <br />affordable and life -cycle housing goals and are actively funding projects designed to help meet <br />the goals, or to Development Authorities for projects located in eligible Municipalities; and <br />WHEREAS, the Grantee is a Municipality that has negotiated affordable and life -cycle housing <br />goals pursuant to Minnesota Statutes section 473.254, subdivision 2 and has elected to participate <br />in the Local Housing Incentives Account program, or is a Development Authority; and <br />WHEREAS, the Grantee seeks funding in connection with an application for Local Housing <br />Incentives Account funds submitted in response to a Request for Proposals issued by the <br />Metropolitan Housing Implementation Group for the "Funding Cycle" identified above and will <br />use the grant funds made available under this Agreement to help fund the "Project" identified in the <br />application; and <br />WHEREAS, the Council awarded Local Housing Incentives Account funds to the Grantee <br />subject to any terms, conditions and clarifications stated in its Council Action, and with the <br />understanding that the Project identified in the application will proceed to completion in a timely <br />manner, all grant funds will be expended prior to the `Expiration Date" identified above and <br />Project construction will have "commenced" before the Expiration Date. <br />Page I of 12 Pages <br />Boulevard Project rev. 12/12/17 <br />