1992-441HRA RESOLUTION NO. 441
TO AUTHORIZE THE SUBMISSION OF AN APPLICATION
FOR THE MHFA BLIGHTED RESIDENTIAL PROPERTY
ACQUISITION AND REHABILITATION PROGRAM
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WHEREAS, the Minnesota Housing Finance Agency (MHFA) is
making available grants to local governments for the improvement
of blighted•properties in designated neighborhoods, and
WHEREAS, the Richfield HRA is desirous of securing a grant
of $290,000 to further a program of acquisition and clearance of
blighted property, and
WHEREAS, the grant requires that a neighborhood be
designated and the neighborhood identified on Exhibit A attached
hereto has been considered by the BRA, and
WHEREAS, the grant requires that blight be defined and the
HRA has considered that blight will be determined in accordance
with Minnesota Statute, Section 469.174, Subdivision 10, and
WHEREAS, purchasers of new homes constructed on sites
acquired and cleared with the MHFA program funds are required to
have gross incomes not to exceed $48,000.
NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and
Redevelopment Authority that: •
1. Staff is authorized to submit an application for the MHFA
Blighted Residential Property Acquisition and Rehabilitation
Program. •
2. The neighborhood identified on the attached Exhibit A is
the "Designated Neighborhood".
3. Blight is defined in accordance with Minnesota Statute,
Section 469.1?4, Subdivision 10. •
4. Purchasers of new homes will have incomes not to exceed
$48,000.
5. The Executive Director and Chairperson are authorized to take
all actions necessary to access and utilize funds received
through the MHFA Program.
Adopted by the Housing and Redevel ment Authority in and
an Helmberger, Sec etary
for the City of Richfield, Minnesot s 21st day of anuary,
1992.
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homes E. Harms, Chairperson•
ATTEST:
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