1990-378140
RESOLUTION NO. 378
THE ROUSING AND REDEVELOPMENT AUTHORITY IN AND
FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION RELATING TO THE TRANSFER OF
YR XV SECTION 312 FUNDS TO REHABILITATION
DEFERRED LOAN PROGRAM
WHEREAS, CDBG YR XV funds in the amount of $10,000 have been
allocated to the City of Richfield for the HRA's Section 312
Rehabilitation Loan Program; and
and
WHEREAS, the total amount of these funds remains unexpended;
WHEREAS, there are no applicants currently waiting for
assistance to expend funds by December 31, 1990; and
WHEREAS, restrictive program eligibility requirements have
made it difficult to identify qualified applicants; and
WHEREAS, there are sufficient applicants/needs to expend the
remaining funds within the Rehabilitation Deferred Loan Program.
NOW, THEREFORE, BE IT RESOLVED by the Housing and
Redevelopment Authority in and for the City of Richfield,
Minnesota that the HRA Chairperson and Executive Director are
authorized to execute an amendment to the Third Party Agreement
with the City Council and Hennepin County, to transfer remaining
CDBG YR XV Section 312 (Project No. 50089) funds in the amount of
$10,000, to the Richfield HRA's Rehabilitation Deferred Loan
(Project No. 50087) Program for expenditure prior to December 31,
1990.
Adopted by the Housing and Redevelopment Authority in and
for the City of Richfield, Minnesota th 1st day of May, 1990.
P.~' ~ ~'~
Thomas E. Harms, Chairperson
ATTEST:
:°
a
n Helmberger, Secr tary
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