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HRA RESOLUTION NO. 914
AUTHORIZING THE METROPOLITAN COUNCIL TO ADMINISTER THE HENNEPIN
COUNTY AFFORDABLE HOUSING INCENTIVE FUND WITHIN RICHFIELD
WHEREAS, the Hennepin County Housing and Redevelopment Authority (HCHRA)
in Resolution No. 03-HCHRA-21 B approved the use of a $275,000 Affordable Housing
Incentive Fund loan for the Metropolitan Council's Family Affordable Housing Program
(FAHP); and
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (the "HRA") approved the implementation of the Metropolitan
Council's FAHP initiative within the City and the City entered into a Cooperation
Agreement with the Metropolitan Council on March 13, 2003 authorizing the Metropolitan
Council to develop and operate up to ten (10) residential FAHP units within the City of
Richfield; and
WHEREAS, the Family Affordable Housing Program will benefit the City and its
residents and will increase the supply of affordable housing in the City of Richfield by
providing up to ten (10) residential Family Affordable Housing Program units; and
WHEREAS, the Hennepin County Housing and Redevelopment Authority desires to
participate in the FAHP implementation by funding a portion of the FAHP unit development
within the City of Richfield.
NOW, THEREFORE, BE IT RESOLVED, that the Metropolitan Council's use of
funding from the Hennepin County Housing and Redevelopment Authority Affordable
Housing Incentive Fund to help implement the Metropolitan Council's Family Affordable
Housing Program within the City is approved.
Approved by the Housing and Redevelopment Authority in
Richfield, Minnesota this 20th day of January, 2004
ATTEST:
~tw
Kristal Stokes, Secretary