HomeMy WebLinkAboutHousing & Redevelopment Authority Packet 04-25-2019 MEETING AGENDA
PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY
THURSDAY, APRIL 25, 2019 - 7:00 p.m.
WHERE: Parkers Lake Room
City of Plymouth
3400 Plymouth Boulevard
Plymouth, MN 55447
CONSENT AGENDA
All items listed on the Consent Agenda are considered to be routine by the
Housing and Redevelopment Authority and will be enacted by one motion.
There will be no separate discussion of these items unless a Commissioner,
citizen or petitioner so requests, in which event the item will be removed
from the consent agenda and considered in normal sequence on the agenda.
1. CALL TO ORDER - 7:00 P.M.
2. PUBLIC FORUM
3. CONSENT AGENDA
A. Approve HRA Meeting Minutes for February 28, 2019.
B. Plymouth Towne Square. Accept Monthly Housing Reports.
C. Vicksburg Crossing. Accept Monthly Housing/Marketing Reports.
4. NEW BUSINESS
A. HRA Strategic Plan.
B. Sand Companies. Request for financial assistance to cover a portion of
city imposed fees.
C. HRA Owner Occupied Rehabilitation Loan Program Guideline changes.
D. Election of Officers. Chair, Vice-chair, Secretary.
5. ADJOURNMENT
CITY OF PLYMOUTH
HRA RESOLUTION 2019-03
A RESOLUTION TO APPROVE FINANCIAL ASSISTANCE IN THE AMOUNT OF
$241,000 TO PAY FOR A PORTION OF CITY IMPOSED FEES ON BEHALF OF
Element LLC FOR THE ELEMENT PROJECT
WHEREAS, the Housing and Redevelopment Authority (HRA) in and for the City of Plymouth,
Minnesota operates under Minnesota Statutes 469.001 through 469.047; and
WHEREAS, Element LLC (Element) intends on submitting a development application for a multi-
family apartment building to the City of Plymouth if they are successful in receiving funding
through the State of Minnesota’s Housing Finance Agency; and
WHEREAS, Element intends on constructing a 58-unit apartment complex that will serve households
at or below 60 percent of the area median income; and
WHEREAS, Element has requested Tax Increment Financing (TIF) in the amount of $459,000 and
the HRA Board supports the use of TIF for this project; and
WHEREAS, Element has requested financial assistance in the amount of $241,000.00 to assist with
the payment of a portion of City fees that the project will incur; and
WHEREAS, the HRA has funds available in the amount requested in the HRA General Fund
Reserve Account; and
WHEREAS, the HRA has developed and continues to maintain strong collaborative relationships
with community housing providers and social service agencies; and
WHEREAS, the HRA Board discussed the project in relationship to the HRA’s mission.
NOW, THEREFORE, BE IT RESOLVED BY THE HOUSING AND REDEVELOPMENT
AUTORITY IN AND FOR THE CITY OF PLYMOUTH, MINNESOTA, that assistance in the
amount of $241,000 will be provided to assist with payment of a portion of City fees for Element
LLC’s development of a 58-unit multi-family apartment project.
BE IT FURTHER RESOLVED, that the HRA Board authorizes the Chair Person and Executive
Director to execute all necessary documents.
BE IT FURTHER RESOLVED, that if the project does not receive the award of Low Income Housing
Tax Credits that the financial assistance will not be provided.
Approved this 25th day of April, 2019 by the Housing and Redevelopment Authority in and for the
City of Plymouth, Minnesota.