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Item No: 08C M 0 U_ — S VfW Meeting Date: March 12, 2018 UN� Type of Business: Council Business Administrator review: City of Mounds View Staff Report Nor— To: Honorable Mayor and City Council From: Brian Beeman, Business Development Coordinator Item Title/Subject: Resolution No. 8928 A Resolution Approving and Authorizing Execution of the Metropolitan Livable Communities Grant Agreement (LHIA Grant) Introduction: MWF Properties approached the City in the summer 2017 about serving as a conduit for the Local Housing Incentives Account (LHIA) grant through the Met -Council's Livable Communities Fund to help fund certain aspects of their project. MWF applied to the grant and has been informed that the Met -Council has awarded $500,000 for the project. The City has received an award letter from the Met -Council and an agreement that will need to be approved by the City Council before moving forward with the participation of the grant. Background: The LHIA grant requires that the City serve as the conduit to administrator the grant and also requires the City to match the $500,000. The Housing TIF counts towards the matching funds and since the Council has agreed in concept to the MWF Housing TIF of up to $546,000 and assuming the Council approves the Housing TIF for that amount, then the City would not be required to put forth any additional matching funds. The City Council discussed and reviewed in detail the LHIA Grant with the City Attorney, MWF Properties, and staff, at its February 5, 2018 Council Worksession. The Council felt comfortable with the requirements of the City serving as a conduit and administrator of the grant understanding that the Housing TIF if approved, can serve as the matching funds. The Council directed staff to post the LHIA Grant resolution and agreement on a future City Council meeting for consideration. Discussion: The Metropolitan Council requires confirmation from the City that they agree to serve as the administrator of the grant. The grant agreement is included. Attachment 2) Recommendation: Although the Met -Council does not require that the Council pass a resolution for these documents, staff recommends that the Council consider Resolution No. 8928 A Resolution Approving and Authorizing Execution of the Metropolitan Livable Communities Grant Agreement. Respectfully submitted, Brian Beeman, Business Development Coordinator Attachment(s): 1) Resolution No. 8928 2) LHIA A Grant Agreement 3) February 5, 2018 Council Worksession Staff Report