1988-327HRA RESOLUTION N0. 327
AUTHORIZING THE IMPLEMENTATION OF
THE RICHFIELD SECTION 312 REHABILITATION LOAN
PROGRAM
WHEREAS, the Richfield HRA is authorized by Minnesota
Statutes Section 469.012, Subd. 12 to make and carry out a
program of voluntary repair and rehabilitation of residential
structures; and
WHEREAS, the U. S. Department of Housing and Urban
Development (HUD) has available Section 312 funds to finance home
improvements for low and moderate income households at a reduced
interest rate; and
WHEREAS, the Richfield HRA has means of accessing these
funds;-and
WHEREAS, the Richfield HRA lacks personnel and experience
to efficiently administer the program; and
WHEREAS, the St. Paul HRA has been identified as a
processing agent to assist in the administration of Richfield
Section 312 loans; and
WHEREAS, an agreement for loan processing services has been
developed between the Richfield HRA and the St. Paul HRA; and
WHEREAS, procedural guidelines have been established to
further define program requirements and administrative
responsibilities of the Richfield HRA and St. Paul HRA; and
WHEREAS, the HRA has had an opportunity to review these
procedural guidelines.
NOW, THEREFORE, BE IT RESOLVED by the Housing and
Redevelopment Authority in and for the City of Richfield,
Minnesota, that the Executive Director is authorized to:
1. Implement the Richfield Section 312 Rehabilitation Loan
Program in accordance with a procedural guideline.
2. Execute an agreement for loan processing services between the
Richfield HRA and the St. Paul HRA.
Passed by the Housing and Red~we opment Autho ity of
Richfield, Minnesota this 29th day.~'o August, 198 .
j ~ ,%, °~ L
Thomas E. Harms, Cha rperson
ATTEST:
J n Helmbe ger, Secret ry
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