HomeMy WebLinkAboutCity Council Resolution 1997-581•
CITY OF PLYMOUTH
Resolution 97 - 581
IN SUPPORT OF AN APPLICATION TO THE FEDERAL HOME LOAN BANK
AFFORDABLE HOUSING PROGRAM TO OBTAIN FINANCIAL ASSISTANCE FOR
OWNER -OCCUPANTS IN THE iHENANDOAH TOWNHOMES HOUSI NC
IMPROVEMENT AREA
WHEREAS, the Plymouth City Council created the Shenandoah Townhomes Housing
Improvement Arca under Minnesota Statutes 428A in an effort to support and maintain
affordable modest cost ownership housing in our community ; and
WHEREAS, lo%%- and moderate -income homeowners of um Shenandoah Townhomes are in need
of ftnenc;al assistance to he able to efford the proposed improvements that are to be done as pan
of the Shenandoah ro%%nhomes housing Improvement Area; and
W:IERLAS, the Federal Munn• Loan Bank (FHLB) operates an Affordable Housing Program to
provide financial :assistance for housing for low- and moderate -income households; and
WHEREAS, the Franklin Nationul Bank, an FHLB member institution, is submitting an FHLB
Affordable Ilousing Program application for funding to assist low- and moderate -income owner
occupants in the Shenandoah rownhomes with the cost of the proposed housing improvements;
and
WHEREAS, the Plymouth housing and Redevelopment Aut:tority is working in cooperation
with the Fiunklin National Bark as a sponsor of the FHLB application; and
WHEREAS, the Ply mouth City Council wishes to support this application as an important effort
to improve housing conditions and housing affordability in the City;
NOW THEREFORF BF: l f RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNFso rA tnat it hereby indicates its enthusiast support of an application for
the FHLB Affordable Housing Program to obtain financial assistance for owner -occupants in the
Shenandoah :'ownhom" Housing Improvement Area and that it commends the Franklin
Nationut Dank and the Plymouth Housing and Redevelopment Authority for their cooperative
efforts in r:specti%ely submitting and sponsoring said application.
Adopted by the Plymouth City Council on October 1, 1997.
ATTEST:
Laurie F. Ahrens, City Clerk
Joycelyn H. Tierney, Mayor
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