HomeMy WebLinkAbout1999-051RESOLUTION NO. 99- 51
CITY OF STILLWATER
RESOLUTION AGREEING TO CONSIDER PROVISION OF ASSISTANCE FOR
AFFORDABLE HOUSING
WHEREAS, the City of Stillwater supports a balanced housing supply, with housing
available to all people at all income levels, including ownership and rental; and
WHEREAS, there is a shortage of affordable housing in the City of Stillwater, and
WHEREAS, the City of Stillwater does participate in the Livable Communities Program;
and
WHEREAS, the City's policy in its Comprehensive Plan is to assist in the provision of
affordable housing; and
WHEREAS, Anchobaypro, Inc., is a private developer and is willing to provide
affordable housing under the tax credit program in the City of Stillwater.
NOW, THEREFORE, BE IT RESOLVED THAT in the event the development plan is
approved, the City of Stillwater hereby agrees to consider assisting in the establishment of a
Housing Tax Increment Financing District that can provide X145,000 assistance over the term of
the district to assist the affordable development.
Adopted by the City Council this 16th day of February, 1999.
Attest:
City erk ayor