HomeMy WebLinkAboutRes 2009-10
HRA Resolution 2009-10
RESOLUTION APPROVING AN ANNUAL 3% RENT INCREASE FOR ALL
PARKVIEW VILLA SOUTH UNITS STARTING ON JANUARY 1, 2011
WHEREAS
, the City of Columbia Heights Housing and Redevelopment Authority
th
(HRA) are the owners of Parkview Villa South located at 950 40 Ave Northeast,
and
WHEREAS,
the HRA needs to ensure current and future residents that sufficient
fund reserves are in place to provide for needed and necessary capital
improvements, and
WHEREAS,
in order to ensure that these funds will be available, the HRA has
analyzed a twenty year Capital Improvement Plan dated June 15, 2009, and
WHEREAS
, the HRA has reviewed a twenty year income and expenditure
analysis developed by staff to determine future monetary needs, and
WHEREAS
, the HRA has concluded from these aforementioned documents that
an annual 3% rent increase for all units at Parkview Villa South needs to be
established to provide adequate future capital to sustain the subject asset,
NOW THEREFOR BE IT RESOLVED,
1) The City of Columbia Heights Housing and Redevelopment Authority
hereby agrees that an annual 3% rent increase shall be applied to all Parkview
Villa South units, including ancillary amenities such as: underground parking and
electric services for air-conditioning, starting on January 1, 2011.
th
Passed this 27 day of October 2009.
MOTION BY: Kelzenberg
SECONDED BY: Peterson _________________________
Chair- Tammera Diehm
Attest by:
____________________________
Shelley Hanson, Recording Secretary