2009-055CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2009 -055
RESOLUTION SUPPORTING 2009 SINGLE FAMILY STANDARD
APPLICATION AND SUPPLEMENTAL LAND ACQUISITION FOR
AFFORDABLE NEW DEVELOPMENT (LAAND) GRANT APPLICATION TO
MINNESOTA HOUSING FINANCE AGENCY
BE IT RESOLVED by the City Council of the City of Hopkins, Minnesota, as follows:
WHEREAS, the City Council (the "Council ") of the City of Hopkins (the "City ") has
heretofore guided the 8 Ave Corridor between Excelsior Blvd and Mainstreet as `mixed -use' and intends
to support transit - oriented development on that Corridor; and
WHEREAS, the Council understands the need for affordable housing near future Southwest
Light Rail Transit Stations; and
WHEREAS, the City has the ability and intent to maintain the proposed redevelopment site at
815 8 Ave S until redevelopment can occur; and
WHEREAS, the City acknowledges the intent of the Land Acquisition For Affordable New
Development fund is to encourage communities to meet their affordable housing needs and that projects
constructed on land acquired through the loan program shall have a minimum of 20 percent of housing
units developed for affordable units;
NOW THEREFORE BE IT RESOLVED that, after appropriate examination and due
consideration, the governing body of the City:
1. Finds that it is in the best interests of the City's development goals and priorities for the a
future mixed -use project with affordable dwelling units to occur at this particular site and in
the next 1 -5 years.
2. Finds that the cost of land acquisition for which LAAND funding is sought:
(a) will not occur solely through private or other public investment within the reasonably
foreseeable future; and
(b) will not occur within one year after a grant award unless LAAND funding is made
available for this project at this time.
3. Represents that the City has undertaken reasonable and good faith efforts to procure funding
for the project component for which LAAND funding is sought but was not able to find or
secure from other sources funding that is necessary for project component completion
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4. Authorizes its City Manager to submit on behalf of the City an application for Minnesota
Housing Finance Agency grant funds for the project component(s) identified in the
application, and to execute such agreements as may be necessary to implement the project
on behalf of the City.
Dated: October 20, 2009
- (Seal)
within two years and states that this representation is based on the following reasons and
supporting facts:
No other reasonable source of funding for these activities has been identified.
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