HomeMy WebLinkAboutResolution - 2015-32 - Participation of HCHRA in Eden Prairie Affordable Housing Project - 03/03/2015 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2015-32
RESOLUTION APPROVING THE PARTICIPATION OF THE HENNEPIN COUNTY
HOUSING AUTHORITY IN AN EDEN PRAIRIE AFFORDABLE HOUSING PROJECT
WHEREAS, WHAHLT has also been approved for funding of this project by the Hennepin
County Housing and Redevelopment Authority (HCHRA); and
WHEREAS, The Hennepin County Housing and Redevelopment Authority (HCHRA) in
Resolution No. 13-HCHRA-0016 has approved the use of a $120,000 Affordable Housing
Incentive Fund loan and in Resolution No. 14-HCHRA-0022 a second $120,000 Affordable
Housing Incentive Fund loan for Homes Within Reach contingent upon the City of Eden Prairie
City Council's consent to the HCHRA's participation in the project; and
WHEREAS ,The purchase of eight homes by Homes Within Reach (four homes with 2013
funds and four homes with 2014 funds), of which some of the homes will be located within the
city of Eden Prairie and the rest within suburban Hennepin County, will preserve the supply of
affordable housing in the city by providing permanent affordability; 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 3rd day of March, 2015.
*Nncy
ATTEST:
Ka Teen Porta, City Clerk