HomeMy WebLinkAbout14-021 - ADMIN Resolution - City Council - 2014/02/03RESOLUTION NO. 14-021
RESOLUTION APPOINTING HENNEPIN COUNTY,
MINNESOTA AS AGENT WITH RESPECT TO A PUBLIC HEARING
REGARDING HOUSING DEVELOPMENTS AND THE ISSUANCE OF
REVENUE OBLIGATIONS FOR THE BENEFIT OF
HOMEWARD BOUND, INC.
WHEREAS, Homeward Bound, Inc., a Minnesota nonprofit corporation (the
"Borrower"), owns and operates the following housing facilities for the disabled located at 4300
Lake Drive, Robbinsdale, Minnesota; 3300 Fountain Lane, Plymouth, Minnesota; 315 Saratoga
Lane North, Plymouth, Minnesota; 13522 Sunset Trail, Plymouth, Minnesota; 305 Althea Lane,
Hopkins, Minnesota; 4213 Zealand Avenue North, New Hope, Minnesota; 3009 Atwood
Avenue, Minnetonka, Minnesota; 4025 Jersey Avenue North, Crystal, Minnesota; 3535 June
Avenue North, Crystal, Minnesota; 5720 43`' Avenue North, Crystal, Minnesota; 3529 Lee
Avenue North, Crystal, Minnesota; 6809 36th Avenue North, Crystal, Minnesota; 4155 Webster
Avenue South, St. Louis Park, Minnesota; 6452 Bluebird Circle, Maple Grove, Minnesota; 6769
East Fish Lake Road, Maple Grove, Minnesota; 7324 Noble Court, Brooklyn Park, Minnesota;
7839 Brooklyn Boulevard, Brooklyn Park, Minnesota; 1629 Independence Avenue North,
Golden Valley, Minnesota (the "Existing Facilities"); and
WHEREAS, the Borrower has proposed that the City of New Hope, Minnesota (the
"City of New Hope") issue revenue obligations (the "Notes") for the benefit of the Borrower in
order to (i) refinance one or more 30 -year HUD loans for the Borrower's Existing Facilities; and
(ii) finance the acquisition of land and the acquisition, construction, and equipping of a new
facility proposed to be located in Golden Valley, Minnesota (the "New Facility," and collectively
with the Existing Facilities, the "Project"); and
WHEREAS, pursuant to Section 147(0 of the Internal Revenue Code of 1986, as
amended (the "Code"), Minnesota Statutes, Chapter 462C, as amended (the "Act"), and
Minnesota Statutes, Sections 471.59 and 471.656, as amended, prior to the issuance of the Notes
by the City of New Hope, each city in which the Project is located is required to conduct a public
hearing on the Project, a housing program in accordance with the Act, and the issuance of the
Notes; and
WHEREAS, pursuant to Section 5f.103 -2(d) of the Code, the public hearings may be
combined into one public hearing as long as the combined public hearing is a joint undertaking
which would provide all of the residents of each city a reasonable opportunity to be heard; and
WHEREAS, the Cities of Golden Valley, Crystal, Robbinsdale, Plymouth, Hopkins,
Minnetonka, St. Louis Park, Maple Grove, and Brooklyn Park, Minnesota (the "Participant
Cities") desire to designate Hennepin County, Minnesota ("Hennepin County") as the agent
responsible for conducting the required public hearing, in accordance with Section 5f.103 -2(d) of
the Code;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of St. Louis
Park, Minnesota, as follows:
1. Hennepin County is hereby designated as the agent for purposes of conducting a
public hearing with respect to the Project, the housing program, and the issuance of the Notes.
Resolution No. 14-021
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This resolution shall be in full force and effect from and after its passage.
Reviewe
ministration:
City M
Attest:
City Clerk
Adopted by the City Council February 3, 2014
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