HomeMy WebLinkAboutResolution - 2017-56 - Hennepin County Affordable Housing Project - 05/16/2017 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2017-56
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. 16-HCHRA-0019 has approved the use of a$289,000 Affordable Housing
Incentive Fund (AHIF) loan for Homes Within Reach contingent upon the Eden Prairie City
Council consent to the HCHRA's participation in the project; and
WHEREAS ,The purchase of a minimum of eight homes to be acquired for the Homes Within
Reach program, of which multiple properties may 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 16th day of May, 2017.
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ATTEST:
(2014�-
Kat een Porta, City Clerk