10-15 EDA Resolution No. 9 EDA RESOLUTION NO. 9
A RESOLUTION APPROVING THE ADOPTION OF
AN INCLUSIONARY AFFORDABLE HOUSING POLICY
WHEREAS, both the Richfield Housing and Redevelopment Authority (HRA) and
City Council adopted a Housing Policy Vision Statement in 2013 that supports a full
range and balance of housing types that match the choices of its diverse residents; and
WHEREAS, the Economic Development Authority in, and of, the City of Richfield
(EDA) wishes to further support development of high quality housing in the community
for households of various income levels, ages and sizes in order to help the City meet
its goals of preserving and promoting economically diverse housing options in the City;
and
WHEREAS, without intervention, housing prices will continue to rise in new
developments;
WHEREAS, the EDA wants to ensure that both the public and private sectors
continue to create affordable housing opportunities in the City; and
WHEREAS, the EDA believes that adoption of a policy setting criteria and
incentives for developers to build new affordable units will assist the City in achieving its
inclusionary housing goals; and
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in, and of, the City of Richfield, Minnesota, that:
1. The Inclusionary Affordable Housing Policy is hereby approved and adopted.
2. EDA staff is authorized to carry out the policy effective immediately.
Adopted by the Economic Development Authority in, and of, the City of Richfield,
Minnesota this 15th day of October 2018.
—7/1'A.-)7 .df-7-,72
Mary Supple, President
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Stevelitt, Executi a Director