HomeMy WebLinkAboutResolution - HRA 2015-03 - Housing Development Agreement Amendment 1 - 04/21/2015 HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF EDEN PRAIRIE
COUNTY OF HENNEPIN
STATE OF MINNESOTA
H.R.A. RESOLUTION NO. 2015-03
A RESOLUTION APPROVING AMENDMENT 1 TO THE HOUSING DEVELOPMENT
AGREEMENT AND AUTHORIZING ITS EXECUTION BY THE CHAIR AND
EXECUTIVE DIRECTOR
BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment
Authority ("HRA") in and for the City of Eden Prairie, Minnesota, as follows:
RECITALS
WHEREAS, the HRA established a housing development project ("Project") and set
moderate income limits for the Project by H.R.A. Resolution No. 2014-01;
WHEREAS, the HRA has determined that in order achieve the goal of alleviating the
shortage of decent, safe, and sanitary housing for persons of moderate income and their families
it is necessary to increase the moderate income limits established for the Project by H.R.A.
Resolution No. 2014-01;
NOW THEREFORE, THE HOUSING AND REDEVELOPMENT AUTHORITY IN
AND FOR THE CITY OF EDEN PRAIRIE HEREBY RESOLVES AS FOLLOWS:
Moderate Income Limits. The U.S. Department of Housing and Urban Development annually
determines the area median income for Hennepin County ("Area Median Income"). The Area
Median Income is published annually in December for use in the following year. The HRA
hereby determines that the moderate income limits ("Moderate Income Limits") for the Project
shall be 80% to 140% of the Area Median Income. (For example, the Area Median Income for
Hennepin County published in December 2014 for use in the year 2015 was $86,600. The
Moderate Income Limits for all Moderate Income Units sold in 2015 is $69,280 to $121,240.)
ADOPTED by the Housing and Redevelopment Authority in and for the City of Eden Prairie
this 21"day of April, 2015.
4nc;�yrL ukens, Chair
ATTEST:
Rick Getschow, Executive Director