Memo- Certificate of Appreciation- Citizens Independent Bank
From:
Honorable Mayor Redepenning and Hopkins City Council
Kersten Elveru~ll ,
Thursday, JanUa~16, 1997
Certificate of Appreciation - Citizens Independent Bank
To:
Date:
Subject:
The Federal Home Loan Bank of Des Moines recently announced that the Westbrooke
Patio Homes has been awarded a $273,000 grant through the Affordable Housing
Program for the proposed housing improvement project. The grant application was
sponsored by the City of Hopkins and Citizens Independent Bank of St. Louis Park. Bill
Wilkening, President of Citizens Independent Bank and possibly Connie Bakken, the
Bank owner, will be present at the January 21, 1997 City Council meeting to receive a
Certificate of Appreciation for their efforts.
The grant funds will be used to subsidize approximately 40% of the cost of the
proposed roof replacement project for low and moderate income homeowners,
significantly assisting these Patio Home owners and helping to prevent their
displacement. The project does, however, rely on the City providing the balance of the
financing through the establishment of a housing improvement area. The public
hearings and subsequent Council action regarding the establishment of the area and
associated fees are scheduled for January 21, 1997 and February 4,1997.
An information sheet regarding the grant funds is available in the lobby or by calling the
City of Hopkins Housing Coordinator at 939-1395.
.