Laserfiche WebLink
RESOLUTION NO. 85=0834 <br /> RESOLUTION ADOPTING A PROGRAM, AND GIVING PRELIMINARY <br /> APPROVAL TO A DEVELOPMENT AND ITS FINANCING, UNDER <br /> MINNESOTA STATUTES, CHAPTER 462C, AND AUTHORIZING <br /> SUBMISSION OF THE PROGRAM TO THE MINNESOTA HOUSING FINANCE <br /> AGENCY FOR REVIEW AND APPROVAL <br /> BE IT RESOLVED by the City Council of the City of St. <br /> Anthony, Minnesota (the City) , as follows: <br /> SECTION 1 <br /> Recitals and Findings <br /> 1 . 1. By the provisions of the Act, the City is <br /> authorized to plan, administer, issue and sell revenue bonds or <br /> obligations to make or purchase loans to finance one or more <br /> multifamily housing developments within its boundaries, which <br /> revenue bonds or obligations shall be payable solely from the <br /> revenues of the development. <br /> 1. 2. The City has developed a housing plan and, after <br /> holding a public hearing thereon after notice published at <br /> least thirty days prior thereto, has adopted the housing plan <br /> and submitted it for review to the Metropolitan Council and has <br /> received its comments. <br /> 1 . 3. The Act provides that the City may plan, <br /> administer and make or purchase a loan or loans to finance one <br /> or more developments of the kinds described in Subdivisions 2, <br /> 3, 4 and 7 of Section 462C.05 of the Act, upon adoption of a <br /> program setting forth the information required by Subdivision 6 <br /> of Section 462C.05 of the Act, after a public hearing thereon, <br /> and upon approval by the Minnesota Housing Finance Agency (the <br /> Agency) , as provided by Section 462C.01 of the Act, on the <br /> basis of the considerations stated in Section 462C.04 of the <br /> Act. <br /> 1.4. This Council has received a proposal that the <br /> City finance a portion or all of the cost of a proposed <br /> multifamily housing development under Minnesota Statutes, <br /> Chapter 462C, as amended (the 'Act ) , consisting of the <br /> construction and equipping of an apartment building containing <br /> approximately 117 rental housing units together with parking <br /> and other functionally related and subordinate facilities (the <br /> Development ) , to be located in the City at the northeast corner <br /> of the intersection of Chandler Drive and 37th Avenue Northeast <br /> (County Road D ) . The developer and owner of the Development <br /> -2- <br />