01-19 HRA Resolution No. 1395
HRA RESOLUTION NO. 1395
RESOLUTION APPROVING FIRST AMENDMENT TO DEVELOPMENT AGREEMENT WITH
WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST DBA HOMES WITHIN REACH
WHEREAS, in April 2020, the Housing and Redevelopment Authority in and for the
City of Richfield, Minnesota (the “Authority”) entered into a Development Agreement with
West Hennepin Affordable Housing Land Trust dba Homes Within Reach, a Minnesota
nonprofit corporation (“WHAHLT”) and provide it with pooled tax increment to purchase,
rehabilitate, and resell one or more properties to households earning at or below 80% of the
area median income; and
WHEREAS, the Authority would like to amend the Development Agreement to provide
additional financial assistance to WHAHLT to assist with abating contamination on property
purchased by WHAHLT which will be resold to a household earning at or below 80% of the area
median income; and
WHEREAS, there has been presented before the Board of Commissioners of the
Authority a First Amendment to Developer Agreement (the “First Amendment”) to be
executed by the Authority and WHAHLT, which sets forth the terms of the use of the Tax
Increment to be provided to WHAHLT; and
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the
Housing and Redevelopment Authority in and for the City of Richfield, Minnesota as follows:
1.The First Amendment is hereby in all respects authorized, approved, and confirmed,
and the Chair and the Executive Director are hereby authorized and directed to
execute the First Amendmentfor and on behalf of the Authority in substantially the
form now on file with the Executive Director but with such modifications as shall
be deemed necessary, desirable, or appropriate, the execution thereof to
constitute conclusive evidence of their approval of any and all modifications therein.
2.The Chair and the Executive Director are hereby authorized to execute and deliver
any and all documents deemed necessary to carry out the intentions of this
resolution and the First Amendment.
3.This resolution shall be in full force and effect as of the date hereof.
Adopted by the Housing and Redevelopment Authority in and for the City of Richfield,
th
Minnesota this 19 day of January, 2021.
Mary B. Supple, Chair
Maria Regan Gonzalez, Secretary
RC125-1(JAE)
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