HomeMy WebLinkAbout24-01 - ADMIN Resolution - Economic Development Authority - 2024/02/05EDA Resolution No.24-01
Supporting an application for a Hennepin County AHIF grant
submitted by Sherman Associates for the Beltline Station
IDevelopmentaffordablecomponent
Whereas,the City of St.Louis Park acknowledges the Hennepin County Housing and
R ed evelo p m e nt A utho rity (the "H CHRA")has authorized approximately $5 million from the
Affordable Housing Incentive Fund (AHIF)be available for affordable housing projects;and
Whereas,proposed housing or redevelopment projects undertaken by the HCHRA
pursuant to authority established at Minnesota statutes,section 3838.77,subdivision 3 (the
"statute")require approval of the local governing body where the project(s)will be located;and
Whereas,8eltline Station Limited Partnership,a Minnesota limited partnership,or
another affiliate of Sherman Associates (the "developer")submitted an application for 8eltline
Station redevelopment requesting grant funds from the Hennepin County AHIF through the
Coordinated Affordable Housing RFP;and
Whereas,the grant funds will be used for certain public improvement costs associated
with the 8eltline Station redevelopment project at 4601 Highway 7 in the City of St.Louis Park
(the "project");and
Whereas,the HCHRA AHIF Program Guidelines and the statute require support by the
governing body of the City of St.Louis Park for submission of a grant application to the HCHRA
AHIF;and
Now,therefore,be it resolved that the City of St.Louis Park,in accordance with
Minnesota Statutes 3838.77,subd.3.,supports the submission of a AHIF grant application to
the Hennepin County AHIF by the developer for the project.
Reviewed for administration:
Attest
Adopted by the economic development
authority February 5,2024
Lynette Dumalag,president