HomeMy WebLinkAbout7481 (Res.)
~
o
o
o
.lLh..
.i.,
. .
.~ ~...
CITY OF STILLWATER
RESOLUTION NO. 7481"
ADOPTING A HOUSING PLAN INCLUDING A PROGRAM FOR
THE ISSUANCE OF MULTIFAMU..Y MORTGAGE REVENUE
BONDS AND AUTHORIZING SUBMISSION OF SAME TO THE
METROPOLITAN COUNen. AND THE MINNESOTA HOUSING
FINANCE AGENCY.
WHEREAS, pursuant to the Minnesota Municipal Housing Act, Minnesota
Statutes. Chapter 462C (the "Act'?, the City or Stillwater (the "City,? Is authorized
to adopt a housing plan and carry out programs for the financing of multifamily
housing which Is affordable to persons of low and moderate Income; and
WHEREAS, the Act requires adoption of the housing plan after a public
hearing held thereon after publication of notice in a newspaper of general
circulation In the City at least thirty days in advance of the hearing; and
WHEREAS, the Act requires adoption of a program after a public hearing
held thereon after publication of notice In a newspaper of general circulation in the
City at least fifteen days in advance of the hearing; and
WHEREAS, by the passage of Ordinance No. 631. the City Councll of the
City of Stillwater has authorized the Washington County Housing and
Redevelopment Authority (the "Authority'? to exercise on behalf of the City of
Stillwater, all of the powers conferred by Minnesota Statutes, Sections 462C.01 to
462C.07, including without limitation, the power to adopt a housing plan and
program to Issue and sell mortgage revenue bonds for single family housing and
multifamily housing deve,lopment revenue bonds for multifamily rental housing
developments, provided that the City Councll of the City of Stillwater shall hold
publlc hearings required under the Act with respect to housing plans or programs
adopted pursuant to the Act, and the City Councll of the City of Stillwater must
approve any housing plan or prlllYam prior to Its submission to the MetropoUtan
Councll or the Minnesota Housing Finance Agency, respectively; and
WHEREAS, the City Council of the City has on this date conducted a public
hearing on a housing plan (the "Plan'?, including a program, after publication of
notice as required by the Act; and
WHEREAS, the Plan Includes a program (the "Program") for the Issuance of
multlfamDy housing revenue bonds In an amount not exceeding $750,000 to finance
the acquisition and rehabWtatlon of a bulldln(r for use as a 3~it multlfamlly
rental facWty to be owned and operated by Sherman-Boosalls Real Estate Fund D,
a Minnesota Limited Partnership; and .
WHEREAS, the Act further requires submilslon of the PIan to the
Metropolitan Councll for Its review and comment, and submission of the Program
to the M~sota Housing Finance ~ncy (the "MHPA'? for Its approval;
-1-
. .
"
"
.
.
c
NOW, THEREFORE, BE IT RESOLVED by the City Councll of the City of
Sti llwater:
1. That the Plan of the City, Including the Program, Is hereby In all
respects adopted.
2. That the Executive Director of the Authority is hereby authorized to
submit the Plan to the Metropolitan CouncU, and to submit the Program to the
MHPA, and to do all other things and take all other actions as may be necessary or
appropriate to carry out the Program In accordance with the Act and any other
applicable laws and regulations.
Adopted by Council -- June 4, 1985
Published -- June 10, 1985
~.~-J
ayor
ATT,A,: A A ,
0, ,v~7c;g(~()'/U-~~
CERTI FI CATION
STATE OF MINNESOTA
COUNTY OF WASHINGTON
CITY OF STILLWATER
I, Mary Lou Johnson, City Clerk of the City of Stillwater, Minnesota
do hereby certify that the foregoing is a true and correct copy of a Resolution
adopted by the Sti llwater City Counci 1 on June 4, 1985.
,
0 i
(Seal) ,
-2-
~ .
.
~H~