1980-15128
HRA RESOLUTION NO. 151
A Resolution Authorizing the Execution of
Completion Certificates and Release of
Bond to the Ames Corporation and Approval
for Use of Remaining Bonus Grant Funds
WHEREAS, the Metropolitan Council and United States
Department of Housing and Urban Development (HUD) have re-
cently had Community Development Block Grant (CDBG) Bonus
funds available; and
WHEREAS, the Richfield HRA received $162,500 in CDBG
Bonus Funds in 1979 to acquire .five lots for development of
scattered site single family homes for rental to low and
moderate income families; and
WHEREAS, the Ames Corporation was selected to develop
these homes and has now completed them and requested a
" Completion Certificate in accordance with the development
contract; and
WHEREAS, a balance of funds remains from that project and
HUD has allowed us to utilize the funds to provide additional
family housing opportunities; and
WHEREAS, the Richfield HRA submitted an application for
additional bonus funds to acquire five more lots to develop
single family homes for rental; and
WHEREAS, David Ames of the Ames Corporation was selected
to develop these homes and Mr. Ames provided a $5,000 bond to
indicate his willingness to perform in good faith; and
WHEREAS, the application was not selected for funding and
Mr. Ames has now requested that his bond be released;
NOW, THEREFORE BE IT RESOLVED by the Housing and Redevelop-
ment Authority of Richfield, Minnesota:
1) that the Executive Director is authorized to
execute the Completion Certificates for the
Ames Corporation Scattered Site project.
2) that the $5,000 bond from Mr. Ames to ensure
his good faith in initiating a new scattered
site project can now be released and Mr. Ames
is no longer responsible for the development of
a new scattered site project.
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3) that the-HRA staff can propose to HUD an alte~ha~$
method for utilizing the remaining bonus fuPt~~e
the Housing and Redevelopment Authority o~ ~1~9~~ld
Passed by
this 20th day of October; 1980.
T mas E. Harms, Chairman
AttE
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