HomeMy WebLinkAboutResolution - 2008-56 - HCHRA Participation in Afforable Housing Project - 05/20/2008 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2008-56
RESOLUTION APPROVING THE PARTICIPATION OF THE HENNEPIN COUNTY
HOUSING AUTHORITY IN AN EDEN PRAIRIE AFFORDABLE HOUSING PROJECT
WHEREAS,the City of Eden Prairie has entered into an agreement with Ryland Homes to provide
eight affordable townhomes in the Eagle Ridge at Hennepin Village 6ch Addition; and
WHEREAS, City of Eden Prairie has agreed to use Community Development Block Grant funds
assist with the purchase of these properties by West Hennepin Affordable Housing Land Trust
(WHAHLT); and
WHEREAS, WHAHLT has also been approved for funding of these projects by the Hennepin
County Housing and Redevelopment Authority(HCHRA); and
WHEREAS,the Hennepin County Housing and Redevelopment Authority(HCHRA) in
Resolution No. 07-HCHRA-13 has approved the use of a$25,000 Affordable Housing Incentive
Fund loan for the WHAHLT project at 9983 Wildflower Drive, and other future WHAHLT
acquisitions, contingent upon the Eden Prairie City Council's consent to the HCHRA's
participation in the project; and
WHEREAS, the loan from the HCHRA will complete the financing required for the project to
go forward.
BE IT RESOLVED, that the participation of the Hennepin County Housing and Redevelopment
Authority in the project is hereby approved.
ADOPTED by the City Council of the City of Eden Prairie this 20th day of May, 2008.
Ail Young, Mayo/p
ATTEST:
Kat een Porta, City Clerk