HomeMy WebLinkAbout1993-154
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CITY COUNCIL
CITY OF STILLWATER
RESOLUTION NO. 93-154
RESOLUTION AUTHORIZING THE WASHINGTON COUNTY HOUSING AND
REDEVELOPMENT AUTHORITY TO UNDERTAKE A PROGRAM FOR THE
FINANCING OF A HOUSING DEVELOPMENT PROJECT IN THE CITY OF
STILLWATER TO PROVIDE MULTIFAMILY HOUSING FOR PERSONS AND
FAMILIES OF LOW AND MODERATE INCOME..
WHEREAS, Minnesota Statues, Sections 469.00l to
"Act") establishes the powers and duties of
redevelopment authorities in the State of Minnesota;
469.047
housing
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WHEREAS, pursuant to Section 469.001(4) of the Act, one of the
purposes of The Washington County Housing and Redevelopment
Authority (the "Authority") is to remedy the shortage of housing
for low and moderate income residents in situations in which
private enterprise would not act without government participation
or subsidies; and
WHEREAS, Laws of Minnesota 1974, Chapter 475 (the "Special
Law") provides that, if any housing or redevelopment project is
undertaken in Washington County (the "County") by the Authority,
and such project is within the boundaries of any incorporated
village, city or township, the location of such project shall be
approved by--the governing body of such-village, city or township;
and
WHEREAS, to assist in the alleviation of a housing shortage
for low and moderate income residents, the Authority is authorized
under the Act to undertake housing development projects, as defined
in Section 469.002, subd. 15, of the Act as any work or undertaking
to provide housing for persons of moderate income and their
families, which may include planning of building and improvements;
acquisition of real property; construction, reconstruction,
alteration and repair of new or existing buildings and all
equipment, facilities and other real or personal property for
appurtenances, streets, sewers, water service, utilities, site
preparation, landscaping, administrative, community health,
recreation or welfare, or other purposes; and
WHEREAS, the Authority has determined to acquire and
rehabilitate a 40 unit apartment building located on the property
legally described on Exhibit A attached hereto (the "Project"), in
order to alleviate current and projected shortages of decent, safe
and sanitary housing for persons of low and moderate income and
their families within the County including the projected needs in
the City of Stillwater (the "Municipality"); and
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WHEREAS, the Authority has requested that the governing body
of the Municipality approve the 10ca~ion of the Project pursuant to
the Special Law and the financing of such project by the Authority
pursuant to the Program:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Stillwater that:
1. The Municipality hereby approves the location of the
Project.
2. The Municipality hereby approves the proposal of the
Authority to provide financing for the Project and authorizes the
Authority to undertake the such financing and acquire and construct
the Project within the Municipality.
3. Nothing in this resolution shall authorize the
expenditure of any funds of the Municipality. Any revenue bonds
issued by the Authority to finance the Project shall not constitute
a charge, lien or encumbrance, legal or equitable, upon any
property or funds of the Municipality, not shall the Municipality
be subject to any liability thereon. The holder or holders from
time to time of the revenue bonds of the Authority shall not have
the right to compel any exercise of the taxing power of the
Municipality to pay the outstanding principal on such revenue Bonds
or the interest thereon or to enforce payment thereof against any
property of the Municipality.
Approved and adopted this 17th day of
August
, 1993.
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Attest:
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