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RESOLUTION NO. 10095 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION APPROVING METROPOLITAN LIVABLE COMMUNITIES ACT <br /> AGREEMENT PERMITTING REDEPLOYMENT OF REPAYMENT PROCEEDS <br /> FOR GRANT FUNDS AS LOAN PROCEEDS <br /> WHEREAS,the City of Mounds View has previously received grant program funds for <br /> the Livable Communities Demonstration Account, Tax Base Revitalization Account, and/or <br /> the Local Housing Incentives Account grant programs; and <br /> WHEREAS, the City has used the Grant Funds made available under the agreements <br /> identified on Exhibit A of the agreement to help fund the project identified; and <br /> WHEREAS,the Metropolitan Council had recently clarified its policy that all <br /> Metropolitan Livable Communities Fund grants, including the Prior Grant Agreements,be <br /> deployed as loans to permit recipients to use the loan proceeds to either: <br /> 1) repay any loan principal or interest proceeds to the Council; <br /> 2) reinvest loan proceeds to extend the affordability commitment in the Project; or <br /> 3) use the loan proceeds to advance its affordable and life-cycle housing goals <br /> regardless of whether the Prior Grant Agreements expressly permitted such repayment, <br /> reinvestment, or use. <br /> NOW, THEREFORE,BE IT RESOLVED that the City Council of the City of Mounds <br /> View has reviewed the new agreement and hereby accepts and approves the Metropolitan <br /> Council Communities Act Agreement permitting redeployment of repayment proceeds for grant <br /> fund as loan proceeds. <br /> BE IT FURTHER RESOLVED that the Mayor and City Administrator are authorized <br /> to execute the agreement on behalf of the City, along with any other documents necessary to <br /> effectuate the intent of this resolution. <br /> Adopted this 281h day of April, 2025. <br /> Zach Lindstrom, Mayor <br /> (SEAL) <br /> Nyle Zikmund, City Administrator <br />