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HomeMy WebLinkAboutResolution - 84-171 - Set Date for Public Hearing - Housing Bonds for Edenvale II - CITY OF EDEN PRAIRIE RESOLUTION NO. RESOLUTION RATIFYING THE ESTABLISHMENT OF A DATE FOR A PUBLIC HEARING ON A PROPOSED HOUSING BOND PROGRAM PURSUANT TO MINNESOTA STATUTES, CHAPTER 462C, AND THE PUBLICATION OF NOTICE THEREFOR WHEREAS, Minnesota Statutes, Chapter 462C, authorizes a city to plan, administer and make or purchase a loan or loans to finance one or more multifamily housing developments or the rehabilitation of multifamily housing developments after adoption of a housing plan; and WHEREAS, the housing plan must be considered at a public hearing held after notice published at least 30 days prior to the date of said hearing after which the housing plan may be adopted by resolution of the governing body of the city with or without amendment; and WHEREAS, the City of Eden Prairie (the "City") held a public hearing on the City's Housing Plan (the "Plan") after at least thirty (30) days' published notice on r and by the passage of Resolution No. --,;)7 (the "Plan eso uti n on �t=� i y2 adopted the Plan; and WHEREAS, in accordance with its requirements, the Plan provides for programs for the issuance of bonds to finance multifamily housing developments which are affordable to persons and families of low and moderate income and are consistent with the goals, conditions and requirements of the Plan; and WHEREAS, a program for the issuance of bonds to finance a multifamily housing development must be considered at a public hearing after notice published at least 15 days prior to the date of said hearing after which the program may be adopted by resolution of the governing body of the city with or without amendment; and WHEREAS, Eden Investments Partnership, a Minnesota general partnership (the "Developer"), has presented to this City Council (the "City Council") a proposal for the issuance of multifamily housing revenue bonds to finance the acquisition of land and construction of an approximately 70-unit rental apartment project in the City (the "Project"); WHEREAS, in order to expedite the program approval process by the City, the Developer requested the City staff to select the date of the public hearing on the proposed housing bond program for the Project and to publish notice thereof in the form of notice attached hereto as Exhibit A in the official newspaper of the City prior to consideration of the Project by the City Council of the City; and WHEREAS, in response to the request of the Developer, the City staff selected July 17, 1984 as the date for the public hearing on the proposed housing bond program for the project and published notice thereof in the official newspaper of the City; -1- NOW, THEREFORE, BE IT RESOLVED THAT: 1. The City Council of the City of Eden Prairie will conduct a public hearing on the proposed housing program for the Project on July 17, 1984 at 7:30 p.m. 2. The publication by City Clerk of the City of the public notice, substantially in the form of the notice attached hereto as Exhibit A, in a newspaper of general circulation in the City at least fifteen (15) days prior to the date established for the public hearing by the preceding paragraph of this resolution is hereby ratified and affirmed. 3. The City Manager of the City is hereby authorized to proceed with the preparation of the housing bond program relating to the Project, for presentation to this City Council at the public hearing herein authorized. 4. The law firm of Holmes do Graven, Chartered is hereby authorized to act as Bond Counsel to assist with the preparation of the housing bond program relating to the Project and with the preprartion of any other documents necessary with respect to the issuance of bonds in connection with the Project; provided that the payment or reimbursement of the fees or expenses of Bond Counsel shall not be a general liability of the City, but shall be paid or reimbursed from the program revenues or by the Project developer. The City Manager, City Clerk, City Attorney and other officers, employees and agents of the City are hereby authorized to assist Bond Counsel in the preparation of the program and the necessary documents. ADOPTED: , 1984 ATTEST: 1 r 1 fir'' Mayor /i ri y Clerk -- I -2-