01-08 HRA Resolution
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Resolution 01-08
November 13, 2001
Commissioner Micks introduced the following and moved its adoption:
RESOLUTION BY THE GOLDEN VALLEY
HOUSING AND REDEVELOPMENT AUTHORITY
APPROVING USE OF A HENNEPIN COUNTY
AFFORDABLE HOUSING INCENTIVE FUND LOAN
FOR VALLEY SQUARE COMMONS
WHEREAS, the Hennepin County Housing and Redevelopment Authority
(HCHRA) in Resolution Number 12-HCHRA-00R1 has approved the use of a
$300,000 Affordable Housing Incentive Fund loan for the Valley Square
Commons project, contingent upon the Golden Valley Housing and
Redevelopment Authority's consent to the HCHRA's participation in the project;
and,
WHEREAS, the Valley Square Commons project will increase the supply
of affordable housing in the City of Golden Valley by providing 25 new
townhomes; and,
WHEREAS, the loan from the HCHRA will complete the financing required
for the project to go forward.
THEREFORE, BE IT RESOLVED that the participation of the Hennepin
County Housing and Redevelopment Authority in the project is hereby approved.
ATTEST:
Motion for th a ption of the foregoing resolution was seconded by
Commissione Suer; and upon a vote taken thereon, the following voted in
favor thereof: Anderson, Bakken, Johnson, LeSuer and Micks; and the following
voted against the same: none; whereupon said resolution was declared duly
passed and adopted, signed by the Chair and her signature attested by the
Director.