HomeMy WebLinkAboutCity Council Resolution 1995-172•
CITY OF PLYMOUTH
RESOLUTION 95-172
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PLYMOUTH LAKEVIEW COMMONS,
WHEREAS, the Cornerstone Group d. b. a. Heartland -Plymouth Lakeview Commons, LLC
has requested financial assistance from the City of Plymouth of up to $60,950 in order to
comma a storm water treatment pond on adjacent City property that is required in order to
proceed with construction of the Lakeview Commons apartment complex at the southwest
corner of Niagara Lane and Eighte with Avenue, North; and
WHEREAS, construction of Lakeview Commons would provide 64 units of much needed
two and three bedroom low/moderate-income rental housing in the City of Plymouth; and
WHEREAS, the provision of such housing is a highly desirable and appropriate use of the
City's allocation of federal CDBG Ponds in accordance with federal requirements; and
WHEREAS, on February 169 19959 the Plymouth Housing and Redevelopment Authority
(HRA) held a public hearing to provide the opportunity for interested parties to comment upon
the proposed reallocation of CDBG funds for the storm water treatment pond and subsequently
recommended the approval of the reallocation for this purpose.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA, that the 1995 CDBG budget, Fund 232, be amended by
deleting $13,500 from the Contingency Fund and $47,450 from the First Time Homebuyers
Loan and Development Program and inserting Lakeview Commons Storm Water Pond as a
new budgeted activity for $60,950; and
BE IT FURTHER RESOLVED, that the City Council authorizes the appropriate City staff to
enter into a CDBG sub -grantee agreement with Heartland -Plymouth Lakeview Commons, LLC
for the expenditure of the funds budgeted for the Lakeview Commons Storm Water Pond
activity.
Adopted by the Plymouth City Council on March 7, 1995.