2014-007 Public Hearing Regarding Housing Development Homeward BoundCITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2014-007
RESOLUTION APPOINTING HENNEPIN COUNTY, MINNESOTA AS
AGENT WITH RESPECT TO A PUBLIC HEARING REGARDING
HOUSING DEVELOPMENTS AND THE ISSUANCE OF REVENUE
OBLIGATIONS FOR THE BENEFIT OF HOMEWARD BOUND, INC.
WHEREAS, Homeward Bound, Inc., a Minnesota nonprofit corporation (the
"Borrower"), owns and operates the following housing facilities for the disabled located at
4300 Lake Drive, Robbinsdale, Minnesota; 3300 Fountain Lane, Plymouth, Minnesota; 315
Saratoga Lane North, Plymouth, Minnesota; 13522 Sunset Trail, Plymouth, Minnesota; 305
Althea Lane, Hopkins, Minnesota; 4213 Zealand Avenue North, New Hope, Minnesota;
3009 Atwood Avenue, Minnetonka, Minnesota; 4025 Jersey Avenue North, Crystal,
Minnesota; 3535 June Avenue North, Crystal, Minnesota; 5720 43rd Avenue North,
Crystal, Minnesota; 3529 Lee Avenue North, Crystal, Minnesota; 6809 36th Avenue North,
Crystal, Minnesota; 4155 Webster Avenue South, St. Louis Park, Minnesota; 6452 Bluebird
Circle, Maple Grove, Minnesota; 6769 East Fish Lake Road, Maple Grove, Minnesota; 7324
Noble Court, Brooklyn Park, Minnesota; 7839 Brooklyn Boulevard, Brooklyn Park,
Minnesota; 1629 Independence Avenue North, Golden Valley, Minnesota (the "Existing
Facilities"); and
WHEREAS, the Borrower has proposed that the City of New Hope, Minnesota (the
"City of New Hope") issue revenue obligations (the "Notes") for the benefit of the Borrower
in order to (i) refinance one or more 30 -year HUD loans for the Borrower's Existing
Facilities; and (ii) finance the acquisition of land and the acquisition, construction, and
equipping of a new facility proposed to be located in Golden Valley, Minnesota (the "New
Facility," and collectively with the Existing Facilities, the "Project"); and
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986, as
amended (the "Code"), Minnesota Statutes, Chapter 462C, as amended (the "Act"),
and Minnesota Statutes, Sections 471.59 and 471.656, as amended, prior to the issuance of
the Notes by the City of New Hope, each city in which the Project is located is required to
conduct a public hearing on the Project, a housing program in accordance with the Act, and the
issuance of the Notes; and
WHEREAS, pursuant to Section 5f.103 -2(d) of the Code, the public hearings may be
combined into one public hearing as long as the combined public hearing is a joint
undertaking which would provide all of the residents of each city a reasonable opportunity to
be heard; and
WHEREAS, the Cities of Golden Valley, Crystal, Robbinsdale, Plymouth, Hopkins,
Minnetonka, St. Louis Park, Maple Grove, and Brooklyn Park, Minnesota (the "Participant
Cities") desire to designate Hennepin County, Minnesota ("Hennepin County") as the agent
responsible for conducting the required public hearing, in accordance with Section 5f.103 -2(d)
of the Code;
Resolution No. 2014-007
Page 2
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Hopkins, Minnesota, as follows:
1. Hennepin County is hereby designated as the agent for purposes of conducting a
public hearing with respect to the Project, the housing program, and the issuance of the Notes.
2. This resolution shall be in full force and effect from and after its passage.
Adopted by the City Council of the City of Hopkins this 3rd day of February, 2014.
By:
Eugeneq. Max ell, Mayor
ATTEST:
Kristine A. Luedke, City Clerk