01-05 HRA Resolution
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Resolution 01-05
July 10, 2001
Commissioner LeSuer introduced the following resolution and moved its
adoption:
RESOLUTION WAIVING NOTICE AND CONSENTING TO THE FINANCING
OF A PROJECT BYTHE HENNEPIN COUNTY HOUSING AND
REDEVELOPMENT AUTHORITY WITHIN THE AREA OF OPERATION OF
THE CITY OF GOLDEN VALLEY, MINNESOTA
HOUSING AND REDEVELOPMENT AUTHORITY
WHEREAS the City of Golden Valley, Minnesota Housing and
Redevelopment Authority (the "Authority") is a housing and redevelopment
authority created pursuant to Minnesota Statutes, Sections 469.001 through and
including 469.047, as amended (the "Act"), and is authorized to operate within
the territorial boundaries of the City of Golden Valley (the "City"); and,
WHEREAS, the Hennepin County Housing and Redevelopment
Authority (the "Hennepin County HRA") is a housing and redevelopment
authority created pursuant to Minnesota Statutes, Section 383B.77, has all of the
powers and the duties of a housing and redevelopment authority under the Act,
including the authority to issue bonds and loan the proceeds of which for certain
projects, and is authorized to operate within the territorial boundaries of
Hennepin County, Minnesota (the "County"); and
WHEREAS, Opportunity Partners, a Minnesota nonprofit corporation (the
"Borrower"), is the owner and operator of 17 group homes forthe mentally and
the physically disable located primarily within the County, and each group home
is separately and individually financed by a taxable or a tax-exempt mortgage
loan; and,
WHEREAS, one of the group homes is within the territorial boundaries of
the City and is located at 5610 Golden Valley Road; and
WHEREAS, the Borrower has requested that the Hennepin County HRA
issue its tax-exempt revenue bonds and loan the proceeds of such bonds to the
Borrower so that the Borrower may consolidate the outstanding mortgage loans
into a single loan and to refinance the debt on a tax-exempt basis;
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners
of the City of Golden Valley, Minnesota Housing and Redevelopment Authority
as follows:
1.
The Authority hereby waives any notice that may have been
required by Minnesota Statutes, Section 383B.77, as amended,
and hereby acknowledges receipt of notice of the proposal that
the Hennepin County HRA finance a project within the area of
operation. of the Authority.
Resolution 01-05 (Con't.)
July 10, 2001
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2. The Authority hereby consents to the Hennepin County HRA's
activities within the area of operation of the Authority with
respect to the proposed financing.
ATTEST:
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Motion for th . doption of the foregoing resolution was seconded by
Commissioner Micks, and upon a vote taken thereon, the following voted in favor
thereof: Anderson, Johnson, LeSuer and Micks; and the following voted against
the same: none; and the following was absent:: Bakken; whereupon said
resolution was declared duly passed and adopted, signed by the Chair and her
signature attested by the Director.
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