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RESOLUTION 18 -EDA -310 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION CONSENTING TO THE PROCESS FOR THE CREATION OF A HOUSING TAX INCREMENT FINANCING DISTRICT IN SUPPORT OF THE PROPOSED TRITON MULTIPLE FAMILY HOUSING PROJECT WHEREAS, the City of Mounds View Economic Development Authority (the "EDA") is a municipal corporation and political subdivision duly organized and existing under the Constitution and laws of the State of Minnesota; and, WHEREAS, Pursuant to Minnesota Statutes §469.174 — §469.1799, the City of Mounds View is authorized to use Tax Increment Financing ("TIF") to carry out the public purposes described and contemplated thereby; and, WHEREAS, Newport Midwest, LLC, in partnership with non-profit Journey Home Minnesota, has submitted a proposal ("The Triton") to construct sixty one units of multiple -family rental housing (the "Project") at or near Old Hwy 8 and Mustang Drive, with 100% of the units being affordable to households with incomes at or below 50% of the area median income; and, WHEREAS, Newport Midwest, LLC has submitted plans and applications for approval by the City of Mounds View for an amendment to the Zoning Map and a Conditional Use Permit for a Multiple Family Dwelling for the Project; and, WHEREAS, the EDA supports the Project and will endeavor to work with Newport Midwest; LLC to facilitate (TIF) assistance through the creation of a Housing TIF District with such actions being subject to Newport Midwest, LLC securing an allocation of Housing Tax Credits from the Minnesota Housing Finance Agency for the Project; and, WHEREAS, the EDA cannot create a Housing TIF District in support of the Project until all statutory requirements have been fully satisfied, including the consideration of comments from the public and affected governmental jurisdictions following a public hearing. NOW, THEREFORE, BE IT RESOLVED, by the City of Mounds View Economic Development Authority,. that the recitals and exhibits, if any, set forth in this Resolution are incorporated into and made a part of this Resolution