12-1118r HRA RESOLUTION NO. 1118
RESOLUTION AUTHORIZING THE USE OF AN AFFORDABLE HOUSING
INCENTIVE FUND LOAN FOR THE PURCHASE OF 7401 18TH AVENUE
WHEREAS, Hennepin County Housing and Redevelopment Authority (HCHRA)
in Resolution No. 10-HCHRA-0010 has approved the use of a $40,000 Affordable
Housing Incentive Fund loan for the 7401 18th Avenue project, contingent upon the
Richfield Housing and Redevelopment Authority's consent to the HCHRA's participation
in the project; and
WHEREAS, the 7401 18th Avenue project will increase/preserve the supply of
affordable housing in the City of Richfield by providing one affordable single-family
home; and
WHEREAS, the loan from the HCHRA will complete the financing required for
the project to proceed.
BE IT RESOLVED, that the participation of the Hennepin County Housing and
Redevelopment Authority in the project is hereby approved.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 19th day of March, 2012.
Atx d , /, -
Do is Ruben -in, Acting Chair
ATTE. T:
/
ie _ //
Dori- Rubenst , Secretary