HomeMy WebLinkAbout83-118 •
Resolution No. 83-118
A resolution adopting a Housing Plan including the 1984
Single Family Residential Revenue Bond Program for
the City of Lakeville pursuant to Minnesota Statutes,
Chapter 462C.
WHEREAS, Minnesota Statutes, Chapter 462C (the °Act") authorizes the
City of Lakeville the "City") to develop and administer programs of making or
purchasing mortgage loans to finance the acquisition of single famBy housing units
located anywhere within its boundaries for occupancy primarily 6y persons of low
and moderate income; and
WHEREAS, the Act authorizes the City to delegate all of its powers and
duties under the Act to the Dakota County Housing and Redevelopment ,Authority
(the "HRA"~ and
WHEREAS, the Act requires the adoption of a housing plan (the "Housing
PlanT') after a public hearing held after the publication of notice of the hearing at
least thirty (30) days prior to the public hearing; and
WHEREAS, the Housing Plan .may contain specific housing programs which
describe specific bond issues the proceeds of which will be used to purchase
mortgage loans made to finance the acquisition of single family housing units
located within the City; and
WHEREAS, on October 1983 notice of a public hearing to be held on
November 21, 1:983 to consider the Housing Plan was published in a newspaper of
general circulation in the City the ;and
WHEREAS, the. HRA has prepared a Housing Plan which includes a 1984
Single Family Residential Revenue Bond Program (the "Program") pursuant to the
Act; and
WHEREAS, the Housing Plan is consistent with the housing chapter of the
City's comprehensive plan; and
WHEREAS, a local contribution of non-bond proceeds must be made to the
Program; and
WHEREAS, the amount, of the Iocal contribution as a percent of the amount
of the bond issue may determine the competitive position at the Minnesota Housing
Finance Agency for the Program; and
WHEREAS, the City has determined that it is in the best interests of the
HRA to allow the Executive Director of the HRA to determine the amount of the
• local contribution immediately. prior to submitting the Program to .the Minnesota
Housing Finance Agency; and
WHEREAS, .the City will meet after submission of the Program to ratify the
amount of the local contribution.
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NOW, THEREFORE, BE 1T RESOLVED BY THE CITY COUNCIL OF THE
CITY OF LAKEVILLE:
1. That the publication of notice of the public hearing on October l0~ and 17,
1983, in the countryside is hereby ratified and approved.
2. That the Executive Director of the HRA, is authorized and directed
to establish the amount of the local contribution from developers, sellers, and
lenders, for the Program and to inser the percent of non-bond proceeds in Section 3
of the Program and to certify such local contribution to the Minnesota Housing
.Finance Agency.
3. That the Housing Plan including the 1984 Single Family Residential
Revenue Bond Program on file. with the City Clerk is adopted.
4. That the Executive Director of the HRA is authorized and directed to
submit the Housing Plan to the Metropolitan Council for review and comment.
5. That the Executive Director of the HRA is authorized and directed to
submit the 1984 Single Family Housing Bond Program to the Minnesota Housing
Finance Agency for review and approval.
Adopted this 21st day of November , 198
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City Clerk
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