09-14 Resolution No. 11883RESOLUTION NO. 11883
RESOLUTION ADOPTING AN AFFORDABLE HOUSING TRUST FUND BUDGET
FOR THE YEAR 2021 REVISED AND 2022
WHEREAS, authorized by Minnesota State Statutes 462C.16, the City approved by
ordinance the creation of an Affordable Housing Trust Fund on May 26, 2020, and
WHEREAS, the ordinance requires the City Council to approve an annual budget
for the Affordable Housing Trust Fund.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield
as follows:
1. The 2021 Revised Budget for the Affordable Housing Trust Fund is hereby
approved and adopted with appropriates as follows:
$125,000 in Housing and Redevelopment Authority (HRA) Capital Fund
funds and Federal grant revenue for emergency rental assistance
$170,000 in Community Development Block Grant (CDBG) funds and HRA
levy funds for the HRA’s First-time Homebuyer Program
$80,000 in CDBG funds for the New Home Program
2. The 2022 Budget for the Affordable Housing Trust Fund is hereby approved and
adopted with appropriations as follows:
$110,000 in CDBG funds and HRA levy for the First-time Homebuyer
Program.
$80,000 in CDBG funds for the New Home Program
Adopted by the City Council of the City of Richfield, Minnesota this 14th day of
September, 2021.
Maria Regan Gonzalez, Mayor
ATTEST:
Kari Sinning, City Clerk