HomeMy WebLinkAbout22-114 - ADMIN Resolution - City Council - 2022/08/01Resolution No. 22-114
Resolution approving the participation of the Hennepin County Housing and
Redevelopment Authority in an affordable housing project
Whereas, the Hennepin County Housing and Redevelopment Authority (HCHRA) has
approved the use of $175,000 Affordable Housing Incentive Fund (AHIF) loan for West
Hennepin Affordable Housing Land Trust (WHAHLT), dba Homes Within Reach contingent upon
the St. Louis Park City Council’s consent to the HCHRA’s participation in the project.
Whereas, the purchase of up to ten homes to be acquired for the WHAHLT program, of
which one or more properties may be located within the City of St. Louis Park and the rest
within suburban Hennepin County, will preserve the supply of affordable housing in the city by
providing long-term affordability.
Whereas, AHIF from the HCHRA will complete the financing required for the project to go
forward.
Now therefore be it resolved that the participation of the Hennepin County Housing and
Redevelopment Authority in the project for the limited purpose of providing financial support
to the project is hereby approved.
It is further resolved that nothing in this resolution shall create a pecuniary obligation of
the City to assist the project, nor shall the City be in any way responsible for any financing
obligation or agreement of the HCHRA with respect to its provision of financial assistance to the
project.
It is further resolved that nothing in this resolution is intended to endorse the merits of
the Projects to be undertaken.
Reviewed for administration: Adopted by the City Council August 1, 2022
Kim Keller, city manager Jake Spano, mayor
Attest:
Melissa Kennedy, city clerk
DocuSign Envelope ID: BE917683-25E8-43C4-9511-BAC5C5AD7088