041524 Resolution 1478HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION NO. 1478
RESOLUTION APPROVING DEVELOPER AGREEMENT WITH WEST HENNEPIN
AFFORDABLE HOUSING LAND TRUST DBA HOMES WITHIN REACH
WHEREAS, the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota (the "Authority') intends to provide $240,000 from Affordable Housing Trust Fund
("AHTF funds") to the West Hennepin Affordable Housing Land Trust dba Homes Within Reach, a
Minnesota nonprofit corporation ("WHAHLT"), for the purposes of acquiring and rehabilitating
homes in the City of Richfield, Minnesota; and
WHEREAS, the Authority has proposed that WHAHLT use the AHTF funds to purchase,
rehabilitate, and resell one or more properties to households 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 Developer Agreement ("Developer Agreement") to be executed by the
Authority and WHAHLT, which sets for the terms of the AHTF funds to be provided to
WHAHLT and the agreement by WHAHLT to purchase, rehabilitate, and resell the properties;
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 Developer Agreement is hereby in all respects authorized, approved,
and confirmed, and the Chair and the Executive Director are hereby authorized and directed to
execute the Developer Agreement for 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 Developer Agreement.
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,
Minnesota this 15th day of April, 2024. (-�, i In IAV�
Erin VrEez 15aniels, thair
A4eA, X ---
Sean Hayford Ol ry, Secret ry