HomeMy WebLinkAbout93-87 - ADMIN Resolution - City Council - 1993/07/06RESOLUTION NO.
93-87
RESOLUTION AUTHORIZING APPLICATION FOR PHASE VII
MINNESOTA HOUSING FINANCE AGENCY DEFERRED LOAN
PROGRAM FUNDS OCTOBER 1, 1993 THROUGH JULY 31, 1995
WHEREAS, since the Minnesota Housing Finance Agency (MHFA), State of
Minnesota, has authorized a program to provide deferred loans to property
owners for the purpose of housing rehabilitation; and
WHEREAS, since the inception of the program, the City of St. Louis Park
has demonstrated the ability to perform the required activities of the MHFA
Deferred Loan Program; and
WHEREAS, the City of St. Louis Park has developed an application as an
Administering Entity for Phase VII of the MHFA Deferred Loan Program; and
NOW, THEREFORE, be it resolved that the City of St. Louis Park is hereby
authorized to make application to the Minnesota Housing Finance Agency for a
grant of funds pursuant to the Deferred Loan Program, Phase VII;
BE IT FURTHER RESOLVED that the City of St. Louis Park is hereby
authorized as an entity to be charged with the administration of funds made
available through the Minnesota Housing Finance Agency Deferred Loan Program
in the City of St. Louis Park; and that all funds shall be used directly for
the purpose of rehabilitation and none shall be used to cover administrative
costs.
Adopted by the City Council July 6, 1993
Attest:
Reviewed for administration:
t(i. /04,0,-,
Approved as to form and execution:
eext. P
Ci y Attorney