12-19 HRA Resolution No. 1242 HRA RESOLUTION NO. 1242
RESOLUTION AUTHORIZING THE USE OF AN AFFORDABLE HOUSING INCENTIVE
FUND LOAN FOR THE PURCHASE OF 7227 CHICAGO AVENUE
WHEREAS, Hennepin County Housing and Redevelopment Authority(HCHRA) in
Resolution No. 14-HCHRA-0022 has approved the use of a $16,000 Affordable Housing
Incentive Fund loan for the 7227 Chicago Avenue project, contingent upon the Richfield
Housing and Redevelopment Authority's consent to the HCHRA's participation in the
project; and
WHEREAS, the 7227 Chicago 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 December, 2016.
A. �.i.
Mary B. S•pple, Chair
ATTEST:
► - i Orr
Doris Rubenstein, Secretary
121916 7227 Chicago AHIF