13-1156r HRA RESOLUTION NO. 1156
RESOLUTION AFFIRMING AND RATIFYING SUBMITTAL OF
AN APPLICATION TO MINNESOTA HOUSING COMMUNITY FIX-UP FUND
PROGRAM AND COMMUNITY HOMEOWNERSHIP IMPACT FUND FOR A
PROGRAM TO WRITE DOWN THE INTEREST-RATE ON HOME IMPROVEMENT
LOANS
WHEREAS, Minnesota Housing has issued a Request for Proposals for the
Community Homeownership Impact Fund; and
WHEREAS, the cities of Richfield, Brooklyn Center, and Crystal work together with
Greater Metropolitan Housing Corporation to offer a home-improvement incentive loan
program to stabilize neighborhoods affected by foreclosures and declining property
values; and
WHEREAS, the participating entities have the institutional, managerial and financial
capability to ensure adequate project and grant administration; and
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield certifies that it will comply with all applicable laws and regulations as stated in
the contract grant agreements; and
WHEREAS, local matching funds are required for the application and the Housing
and Redevelopment Authority in and for the City of Richfield seeks funding to
complement locally-funded single family housing programs; therefore
NOW, THEREFORE BE IT RESOLVED, that the Housing and Redevelopment
Authority in and for the City of Richfield is supportive of making an application with
Greater Metropolitan Housing Corporation to receive Community Fix-Up Fund
designation and Community Homeownership Impact Funds, and is supportive of
including local funds in the 2014 budget in the case that the application is approved.
BE IT FURTHER RESOLVED, that the Executive Director is hereby authorized to
execute such agreements as are necessary to implement the program on behalf of the
applicant.
Adopted by the Housing and Redevelopment Authority in and for of the City of
Richfield, Minnesota this 17th day of June, 2013.
‘24444/L. Htdet4447
Su ne M. Sandahl, Chairperson
AT EST:
A /7.4 �
D is Ruben ein, Secretary