101623 Resolution 1464HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION NO. 1464
RESOLUTION APPROVING DOCUMENTS RELATED TO LOCAL HOUSING INCENTIVES
ACCOUNT GRANT FROM METROPOLITAN COUNCIL FOR WOODLAWN TERRACE
MANUFACTURED HOME PARK
WHEREAS, Woodlawn Terrace Cooperative, a Minnesota nonprofit corporation (the
“Cooperative”), purchased and operates a manufactured home park on property located at 7421 Lyndale
Avenue South in the City of Richfield (the “Project”); and
WHEREAS, the Cooperative is working with Home Source, Inc. (Home Source), a seller of
manufactured homes, to add up to 21 new manufactured home units to the manufactured home park,
including three double-wide units at a price affordable to households earning less than 80 percent of the Area
Median Income (AMI); and
WHEREAS, in order to assist with the costs bringing in the three double-wide units and selling them
affordably to income-qualified households, the Housing and Redevelopment Authority (HRA), on behalf of
the Cooperative, applied for and received a Low Income Housing Incentives Account Affordable
Homeownership grant (LHIA Grant) from the Metropolitan Council (Met Council) in the total sum of
$192,000, which will be allocated to the Project; and
WHEREAS, the proceeds of the LHIA Grant are authorized to be used for eligible costs of the
Project (Grant-Eligible Activities), as described, along with other terms and conditions of the LHIA Grant, in
the LHIA Grant Agreement (Grant Agreement), which was previously approved and executed by the HRA;
and
WHEREAS, the HRA intends to provide the proceeds of the LHIA Grant to the Cooperative and
Home Source to provide financing for the Grant-Eligible Activities pursuant to two Subgrant Agreement
sproposed to be entered into between the HRA and the Cooperative and the HRA and Home Source; and
WHEREAS, there has been presented before the HRA the Subgrant Agreement in the amount of
$120,750 with the Cooperative and the Subgrant Agreement in the amount of $71,250 with Home Source
which reference the terms and conditions of the LHIA Grant and thereby require the Cooperative and Home
Source to spend grant funds in accordance with the LHIA Grant terms and conditions; 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 Subgrant Agreement in the amount of $120,750 with the Cooperative and the Subgrant
Agreement in the amount of $71,250 with Home Source for the payment of the Project Costs is hereby
approved.
3.The Chair and the Executive Director are hereby authorized and directed to execute the
Subgrant Agreements for and on behalf of the Authority as to be prepared by the HRA Attorney under the
direction of the Executive Director.
4.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, Minnesota
this 16th day of October, 2023.
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Erin Vrieze Daniels, Chair
ATTEST:
Sean Hayford Oleary, Secretary