HomeMy WebLinkAbout24-056 - ADMIN Resolution - City Council - 2024/05/06
Resolution No. 24-056
Approving the participation of the Hennepin County Housing and
Redevelopment Authority in an affordable housing project
Be it resolved by the city council (the “city council”) of the City of St. Louis Park,
Minnesota (the “city”) as follows:
Whereas, the Hennepin County Housing and Redevelopment Authority (HCHRA) has
approved the use Homeownership Assistance Program 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; and
Whereas, the purchase of one of more 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; and
Whereas, the loan 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 May 6, 2024
Kim Keller, city manager Nadia Mohamed, mayor
Attest
Melissa Kennedy, city clerk
DocuSign Envelope ID: F8F39AA0-3E48-4A9B-B03C-C5D802C07E82