85-091 - 10-01 Adopt Housing Plan Multi Family Mortgage Revenue BondsResolution 85-91
October 1, 1985
Member Stockman introduced the following resolution and moved its adoption:
RESOLUTION ADOPTING A HOUSING PLAN INCLUDING A PROGRAM FOR THE
ISSUANCE OF MULTIFAMILY MORTGAGE REVENUE BONDS AND AUTHORIZING
SUBMISSION OF SAME TO THE MINNESOTA HOUSING FINANCE AGENCY
WHEREAS, pursuant to the Minnesota Municipal Housing Act, Minnesota
Statutes, Chapter 462C (the "Act"), the City of Golden Valley (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, the City of Golden Valley 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
multifamily housing revenue bonds to finance the acquisition of land and
construction of a 120 -unit rental housing development; and
WHEREAS, the Act further requires submission of the Plan and Program to the
Metropolitan Council for its review and comment, and submission of the Program
to the Minnesota Housing Finance Agency (the "MHFA") for its approval; and
WHEREAS, the Plan and Program have been submitted to the Metropolitan
Council for its review and comment and said Plan and Program have been approved
by the Metropolitan Council;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Golden
Valley:
1. That the Plan of the City, including the Program, is hereby in all
respects adopted.
2. That the City Manager is hereby authorized to submit the Program to the
MHFA, 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.
Resolution 85-91 - Continued
ATTEST:
1 L6
u y aT I Deputy City Clerk
October 1, 1985
Mary E. A erson, Mayor
The motion for the adoption of the foregoing resolution was seconded by Member
Thompson and upon a vote being taken thereon, the following voted in favor
thereof: Anderson, Bakken, Stockman and Thompson; and the following was
absent: Johnson, and the following voted against the same: none, whereupon
said resolution was declared duly passed and adopted,.signed by the Mayor and
her signature attested by the Deputy City Clerk.