09-14 Resolution No. 11873RESOLUTION NO. 11873
RESOLUTION IDENTIFYING THE NEED FOR LIVABLE COMMUNITIES
DEMONSTRATION ACCOUNT FUNDING AND AUTHORIZING APPLICATION FOR
GRANT FUNDS
WHEREAS, the City of Richfield is a participant in the Livable Communities Act's
Local Housing Incentives Account Program for 2021 as determined by the Metropolitan
Council, and is therefore eligible to apply for Livable Communities Demonstration
Account funds; and
WHEREAS, the City has identified a proposed project (or projects) within the City
that meets the Demonstration Account's purposes and criteria and is consistent with
and promotes the purposes of the Metropolitan Livable Communities Act and the
policies of the Metropolitan Council's adopted metropolitan development guide; and
WHEREAS, the City has the institutional, managerial and financial capability to
ensure adequate project administration; and
WHEREAS, the City certifies that it will comply with all applicable laws and
regulations as stated in the grant agreement; and
WHEREAS, the City agrees to act as legal sponsor for the project(s) contained in
the grant application(s) submitted on September 27, 2021; and
WHEREAS, the City acknowledges Livable Communities Demonstration Account
grants are intended to fund projects or project components that can serve as models,
examples or prototypes for development or redevelopment projects elsewhere in the
region, and therefore represents that the proposed project(s) or key components of the
proposed project(s) can be replicated in other metropolitan -area communities; and
WHEREAS, only a limited amount of grant funding is available through the
Metropolitan Council's Livable Communities Demonstration Account during each
funding cycle and the Metropolitan Council has determined it is appropriate to allocate
those scarce grant funds only to eligible projects that would not occur without the
availability of Demonstration Account grant funding.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
1. It is in the best interests of the City's development goals and priorities for
the proposed project to occur at this particular site and at this particular
time.
2. The project components for which Livable Communities Demonstration
Account funding is sought will not occur solely through private or other
public investment within the reasonably foreseeable future and will occur
Resolution No. 11873
within three years after a grant award only if Livable Communities
Demonstration Account funding is made available for this project at this
time.
3. The City has undertaken reasonable and good faith efforts to procure
funding for the project components for which Livable Communities
Demonstration Account funding is sought but was not able to find or
secure from other sources funding that is necessary for project component
completion within three years and states that this representation is based
on the following reasons and supporting facts: the project proposes to
provide 100% of the rents affordable to incomes as low as 30% of the
Area Median Income, which requires significant subsidy to achieve. All
available funding sources, including tax credits and tax increment
financing, are being sought.
Project Name
Amount Requested
Minnesota Independence College and
Community
$1,210,000
4. Staff is authorized to submit on behalf of the City an application for
Metropolitan Council Livable Communities Demonstration Account grant
funds for the project components identified in the application, and to
execute such agreements as may be necessary to implement the project
on behalf of the City.
Adopted by the City Council of the City of Richfield, Minnesota this 14th day of
September, 2021.
11"04wjAz:-
Maria Regan Gonzalez, Mayor
ATTEST:
Kari Sinning, City Clerk
Resolution No. 11873