HomeMy WebLinkAboutEDA Resolution No. 2026-07RESOTUTTON NO.2026-07
A RESOTUTION OF THE ECONOMIC DEVETOPMENT AUTHORITY OF COTUMBIA HEIGHTS, MINNESOTA,
APPROVING THE SERVICING AGREEMENT FOR THE COTUMBIA HEIGHTS NATURATTY OCCURRING
AFFORDABTE HOUSING (NOAHI LOAN PROGRAM.
WHEREAS, in 2024, the City of Columbia Heights established a Local Housing Trust Fund supported by State
allocated Local Affordable Housing Aid (LAHA) funds, and designated the Economic Development Authority
(EDA) as the administrator of this Fund to support affordable housing initiatives within the City; and
WHEREAS, in 2025, the EDA approved the creation of the Naturally Occurring Affordable Housing (NOAH)
Loan Program (the "Program"); and
WHEREAS, due to limited staff capacity, the EDA is partnering with the Minnesota Center for Energy and
Environment (CEE), a qualified program administrator, to support the successful implementation of the
NOAH Loan Program, with CEE aiding in program design, underwriting, compliance, and ongoing
administration.
NOW, THEREFORE BE lT RESOTVEO that, after appropriate examination and due consideration, the
Authority hereby:
ORDER OF ECONOMIC DEVETOPMENT AUTHORITY
Adopted this 2nd day of February,2026
Offered by:
Seconded by:
Roll Call:
Presi
Attest
Secr
Resolution 2026-07
1. Approves the form and substance ofthe Columbia Heights Naturally Occurring Affordable Housing
(NOAH) Loan Program Servicing Agreement (the "Agreement"), the Duties ofthe Servicer (Exhibit A),
and the Servicing Fee Schedule (Exhibit B); and
2. Authorizes the officers, em ployees, and other agents of the Authority to take all actions necessaryto
perform the Authorlty's obligations under the SeNicing Agreement and Exhibits A and B as a whole,
including, without limitation, all acts and things required of them by or in connection with this
resolution, for the full, punctual, and complete performance of all the terms, covenants, and
agreements contained herein.