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10/02/97 THU 17:05 FAX 16122889400 HOJ.MFS&GALEY,LTD 1Q010 <br /> • applicable requirements of Section 5 of the United States Housing Act of 1937 <br /> and the ACC; and <br /> i. Require the recording of the Declaration of Restrictive Covenants as a restrictive <br /> covenant against the Silver Lake property. <br /> III. MANAGEMENT. The Regulatory and Operating Agreement shall provide that <br /> . (the "Manager") shall manage all the units at Silver Lake, <br /> including the MHOP Units and: <br /> A. shall comply with all federal law,regulations and policies and the ACC. <br /> B. shall provide the MPHA and/or HUD with access to all books and records <br /> maintained by the manager or managers with respect to the MHOP Units. <br /> C. shall he subject to termination and replacement as to the entire Silver Lake <br /> development if it is determined by the MPHA, subject to appropriate judicial <br /> review by any court of competent jurisdiction, that the Manager. or any successor <br /> has materially violated, breached, or failed to comply with any provision of <br /> federal law, regulation, policy, or the ACC. <br /> D. shall receive from the MPHA and the City the names of persons and families that <br /> • have incomes at or below the public housing income limits and who meet the <br /> income and waiting list criteria for admission into the MHOP Units and shall <br /> carry out such administrative functions as (but not limited to) applicant interviews <br /> and screening, verifications, determination of suitability for admission, unit <br /> assignment, execution of leases, terminations and evictions. <br /> IV. WAITING LIST MANAGEMENT. The MPHA shall maintain the waiting lists for <br /> those applying for housing in the both the incentive and replacement MHOP Units using <br /> applicable federal, MHOP and local priorities. Applicants for the six (6) replacement <br /> MHOP Units will be selected from a MI-TOP waiting list based upon the following <br /> priorities: <br /> A. First, to families displaced by the demolition of Minneapolis public housing units <br /> pursuant to that certain Consent Decree entered in settlement of Hollman et al. vs. <br /> Cisneros et al., U.S.D.C. (Minn. Dist., 4th Div.) Civil Case No. 4-92-712. <br /> B. Second, to families on the MPHA waiting and transfer lists who live in minority <br /> or poverty concentrated areas in the metropolitan area. <br /> C. Third, to families on the MPHA waiting list. This will include all families <br /> wishing to participate in MHOP, including both Minneapolis waiting list families <br /> and applicants from Eden Prairie. The MPHA will automatically place all <br /> • applicants from Eden Prairie on its waiting list, thus making both Minneapolis <br /> and Eden Prairie residents equally eligible for this priority. <br /> D:\MNNI25\OI I\DOCS\INITIAL.DOC 3 INITIAL AGREEMENT <br /> MPHA/CITY OF MOUNDS VIEW <br /> SILVER LAKE DEVELOPMENT <br />