HomeMy WebLinkAboutResolution 95-45RESOLUTION NO. 95-45
RESOLUTION OF CITY COUNCIL OF THE CITY OF COLUMBIA HEIGHTS,
MINNESOTA APPROVING APPLICATION TO THE MINNESOTA HOUSING FINANCE
AGENCY UP TO $180,000.00 OF AFFORDABLE RENTAL INVESTMENT FUND
PROGRAM FUNDS FOR RENTAL HOUSING REHABILITATION/DUPLEX
ACQUISITION/RENOVATION IN SHEFFIELD NEIGHBORHOOD.
WHEREAS, the City of Columbia Heights has been invited and encouraged to apply through the
Minnesota Housing Finance Agency (MI-IFA) for funds from the 1993 state funded Affordable
Rental Investment Fund Program; and
WHEREAS, an application for such grant funds has been prepared by Community Development
Department staff; and
WHEREAS, the City will provide an MHFA desirable match for funding priority for the project;
and
WHEREAS, the City already owns two duplexes in the Sheffield Neighborhood and is currently
maintaining and operating these as rental units.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Columbia Heights,
Minnesota that:
The City Council approves City application for up to $180,000 of Affordable Rental
Investment Fund Program funds from the Minnesota Housing Finance Agency for rental
housing rehabilitation/duplex acquistions/renovations.
The City hereby agrees that the City will provide a minimum of $20,000.00 in kind or cash
for match to the MHFA program funds.
The Mayor and City Manager are authorized to sign the necessary Affordable Rental
Investment Fund Program application and the documents for implementation of the
program when the grant is received through the Minnesota Housing Finance Agency.
Passed this 14th day of August, 1995
Off'ered by: Ruett imann
Seconded by: Peterson
Roll Call: A11 ayes
/~o-Anne Student, Counci~Secretary
Mayo~o~ePh Sturdevant