HomeMy WebLinkAbout08-084 - ADMIN Resolution - City Council - 2008/07/07RESOLUTION NO. 08-084
RESOLUTION APPROVING THE PARTICPATION OF
HENNEPIN COUNTY HOUSING AND REDEVELOPMENT
AUTHORITY WITH THE WAYSIDE JERSEY SUPPORTIVE
HOUSING STABILIZATION PROJECT
WHEREAS, the Hennepin County Housing and Redevelopment Authority (HCHRA) in
Resolution No. 07-HCHRA-13 has approved the use of a $85,000 Affordable Housing Incentive
Fund loan for the Wayside Jersey Supportive Housing physical stabilization project, contingent
upon the City of St. Louis Park's consent to the HCHRA's participation in the project; and
WHEREAS, the Wayside Jersey Supportive Housing physical stabilization project will
increase/preserve the supply of affordable housing in the City of St. Louis Park by preserving 20
units of affordable housing at the Wayside Jersey Supportive Housing site at 1341-1349 Jersey
Avenue in the City of St. Louis Park; and
WHEREAS, the loan from the HCHRA will complete the financing required for the project
to go forward.
NOW THEREFORE BE IT RESOLVED by the City of St. Louis Park City Council that
it on -nts to the participation of the Hennepin County Housing and Redevelopment Authority in
Wa . ide Jersey Supportive Housing Stabilization.
Revi - '' ed Administration:
Adopted by the City Council July 7, 2008
Attest: