01-826r
11
I
HRA RESOLUTION NO. 826
RESOLUTION WAIVING NOTICE AND CONSENTING TO THE FINANCING OF A PROJECT BY
THE HENNEPIN COUNTY HOUSING AND REDEVELOPMENT AUTHORITY WITHIN THE
AREA OF OPERATION OF THE CITY OF RICHFIELD, MINNESOTA HOUSING AND
REDEVELOPMENT AUTHORITY
I
WHEREAS, the City of Richfield, Minnesota Housing and Redevelopment Authority (the
"Authority") is a housing and redevelopment authority created pursuant to Minnesota Statutes,
Sections 469.001 through and including 469.047, as amended (the "Act"), and is authorized to
operate within the territorial boundaries of the City of Richfield, Minnesota (the "City"); and
WHEREAS, the Hennepin County Housing and Redevelopment Authority (the "Hennepin
County HRA") is a housing and redevelopment authority created pursuant to Minnesota Statutes,
Section 383B.77, has all of the powers and the duties of a housing and redevelopment authority
under the Act, including the authority to issue bonds and loan the proceeds of which for certain
projects, and is authorized operate within the territorial boundaries of Hennepin County, Minnesota
(the "County"); and
WHEREAS, Opportunity Partners, a Minnesota nonprofit corporation (the "Borrower"), is the
owner and operator of 17 group homes for the mentally and the physically disabled located
primarily within the County, and each group home is separately and individually financed by a
taxable or a tax-exempt mortgage loan; and
WHEREAS, seven of the group homes are within the territorial boundaries of the City and
are located at 7615 Vincent Avenue South, 6305 Bryant Avenue South, 7015 - 12th Avenue
South, 7228 - 13th Avenue South, 7144 Columbus Avenue South, 6611 Morgan Avenue South
and 6726 Girard Avenue South; and
WHEREAS, the Borrower has requested that the Hennepin County HRA issue its tax-
exempt revenue bonds and loan the proceeds of such bonds to the Borrower so that the
Borrower may consolidate the outstanding mortgage loans into a single loan and to refinance
the debt on a tax-exempt basis.
NOW, THEREFORE, BE IT RESOLVED by the City of Richfield Housing and
Redevelopment Authority:
1. The Authority hereby waives any notice that may have been required by Minnesota
Statutes, Section 3838.77, as amended, and hereby acknowledges receipt of notice of the
proposal that the Hennepin County HRA finance a project within the area of operation of the
Authority.
2. The Authority hereby consents to the Hennepin County HRA's activities within the
area of operation of the Authority with respect to the proposed financing.
Adopted by the Housing and Redevelopment
Minnesota this 16th day of July, 2001.