2026-09-08 Resolution 12447City of Richfield September 8, 2026
County of Hennepin
State of Minnesota
RESOLUTION NO. 12447
1 of 1
Motion by: Burk
Seconded by: Christensen
A RESOLUTION ADOPTING AN AFFORDABLE HOUSING TRUST FUND BUDGET FOR THE YEAR 2026 REVISED AND 2027
WHEREAS, authorized by Minnesota State Statutes 462C.16,the City Council of the City of
Richfield, Minnesota (“Council”) approved by ordinance the creation of an Affordable Housing
Trust Fund (“Trust Fund”) on May 26, 2020;
WHEREAS, the Housing and Redevelopment Authority in and for the City of Richfield (“HRA”) is
the designated administrator of the Trust Fund and approved its 2026 Revised Budget and 2027
Budget including funding and expenditures for the Trust Fund on August 17, 2026;
WHEREAS, the ordinance requires the Council to provide final approval to the annual budget
for the Trust Fund, and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield, Minnesota
that:
1.The 2026 Revised Budget for the Affordable Housing Trust Fund is hereby approved
and adopted with the appropriations as follows:
•$70,000 for down payment assistance through the HRA’s First-Time Homebuyer
Program
•$160,000 for the HRA’s New Home Program
2.The 2027 Budget for the Affordable Housing Trust Fund is hereby approved and
adopted with the appropriations as follows:
•$240,000 for the HRA’s New Home Program
Adopted by the of the City of Richfield, Minnesota this 8th day of September, 2026.
VOTING AYE VOTING NAY
Supple, Mary Supple, Mary
Burk, Walter Burk, Walter
Christensen, Sharon Christensen, Sharon
Coleman-Woods, Rori Coleman-Woods, Rori
Hayford Oleary, Sean Hayford Oleary, Sean
Mary B. Supple, Mayor
ATTEST:
Michelle Friedrich, City Clerk