HomeMy WebLinkAboutResolution - 2018-111 - Approve Hennepin County Participation in Eden Prairie Affordable Housing Project - 10/02/2018 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2018-111
RESOLUTION APPROVING THE PARTICIPATION OF THE HENNEPIN COUNTY
HOUSING AND REDEVELOPMENT 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. 17-HCHRA-0020 has approved the use of a$200,000 Affordable Housing
Incentive Fund (AHIF) loan for Homes Within Reach contingent upon the Eden Prairie City
Council's consent to the HCHRA's participation in the project; and
WHEREAS, The purchase of a minimum of six 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 Eden Prairie City Council on October 2, 2018.
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ATTEST:
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Kath en Porta, City Clerk