HomeMy WebLinkAbout1998-112RESOLUTION NO. 98- 112
CITY OF STILLWATER
RESOLUTION AGREEING TO WORK WITH THE WASHINGTON COUNTY HRA,
MINNESOTA HOUSING FINANCE AGENCY, AND ANCHOBAYPRO, INC.,
TO SUPPLY AFFORDABLE HOUSING UNDER MHOP, ARIT,
AND TAX CREDIT PROGRAMS
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's policy under its Comprehensive Plan is to support the efforts of the
Washington County Housing and Redevelopment Authority in providing affordable housing at appropriate
locations; and
WHEREAS, the City's policy under its Comprehensive Plan is to participate in Minnesota Housing
Finance Agency ("MHFA") programs that provide assistance for affordable housing; and
WHEREAS, the Metropolitan Housing Opportunities Program (MHOP) under the Holtman Decision
has funds available through the Washington County HRA for private developers for the development of
affordable housing including MHOP units; and
WHEREAS, the MHFA has funds available through the orAable Rental Investment Fund ("ARIF")
program for private developers for the development of affordable housing and will allocate tax credits to
selected affordable housing developments to assist in their development; and
WHEREAS, Anchobaypro Inc., is a private developer an is willing to provide through an affiliate
affordable housing under the MHOP, ARIF, and tax credit programs in Stillwater; and
NOW THEREFORE BE IT RESOLVED THAT the City of Stillwater hereby agrees to work with the
Washington County HRA, the MHFA Anchobaypro, Inc. (and its affiliate) and to participate in the above
programs in connection with the Development of affordable housing in the City of Stillwater.
Adopted by the City Council on the a/ S~day of , 1998.
or
Attest: ~~+- ~ ~ , ~ ~ ). ~~.ti
city clerk