HomeMy WebLinkAboutCity Council Resolution 2002-049is �nni —.
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CITY OF PLYMOUTHCity ,f Ul......,ut
HRA -RESOLUTION 20024--049-07
AUTHORIZING ONE (1) OF THE CITY OWNED PROPERTIES PURCHASED AS PART
OF THE COUNTY ROAD 101 IMPROVEMENT PROJECT TO BE HELD IN RESERVE FOR
INTERFAITH OUTREACH COMMUNITY PARTNERS COMMUNITY DEVELOPMENT
BLOCK GRANT AND
HRA AFFORDABLE HOUSING ACCOUNT FUNDING FO
THE STONE CREEKVILLAGE DEVELOPMENT
CITY PROJECT 9005
WHEREAS, The City of Plymouth, along with Hennepin County, as part of the County Road 101
improvement project purchased eight (8) single family homes fi-om willing sellers who believed the
reconstruction project would cause a burden on their property-, and loominium Developl ePA e_
families (the "A&fdahle Hous*") to he imewn as Stone Cfeek Village at the naftheast quadfant o
Stat u. g1 .. r T R vic n"i'cc n''x i`a'c w @St ;,., DI cli and
WHEREAS, the Citv of Plvmouth-(t"e°G" and the Housing and Rede elop epA nuthefity i and
that includes n+x fd hle u,,,,,,*+ a 0 --set up a committee consisting of staff from the Engineering,
Building, Assessing, and Housing departments to studv and make recommendations to the Citv Council
regarding the appropriate means of selling these properties: and
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,WHEREAS, Interfaith Outreach Community Partners (IOCP) approached the City about the possibihty -[Formatted
of purchasing one or more of the City owned properties and in turn would rehabilitate the property and
sell it to a fast time homebuyer, and -[-.Formatted
WHEREAS, the. (-'+t,:- li-as Alk-icated 4-�Odewal (-4-iffiffliumit- Devele tn@PA Pleek GFapA ((;PPG) funds to the
Ftims", ver the past six (6) months the Committee has reviewed various options for selling the
properties and has determined that one (1) of the homes, 17915 300" Place North, that Interfaith -Formatted
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Outreach Communitv Partners is interested in may suit the needs of the Citv as Nv ell as IOCP: and. -[-.Formatted
WHEREAS, the Plymouth HRA has reserved $20,000 fi-om its First Time Homebuyer program to be
utilized by IOCP for this property: and
WHEREAS, Interfaith Outreach Communitv Partners has reseiA-ed $30,000 fi-om its funds and Nyill
secure an additional $10,000 fi-om in-kind donations to be utilized for this property: and
Formatted
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WHEREAS, there there still exists a financial gap on this project in order to make it viable: and -[.Formatted
WHEREAS, the Cite wishes to support the development of Affordable Housing as part of the County
Road 101 Project and in association with funding through the Minnesota Housing Finance Agency
(MHFA) and other sources,
NOW THEREFORE, BE IT HEREBY RESOLVED BY muE 14OUSLNG AND
REDEVELOPMENT CITY COUNCIL OFLNANDFOOR THE CITY OF
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PLYMOUTH, MINNESOTA, that it hereby approves reserving 17915 3( ' Place North to potentially - Formattea �
be sold to Interfaith Outreach Community Partners, provided that additional funding can be secured to
leverage existing commitments by the Plymouth HRA and IOCP.
FURTHER BE IT RESOLVED, that a purchase avreement must be executed within 120 days or this
authorization terminates. Formatted
allocate tip to $2�6,575 in CDBG Affefdahle Hous* Development ftinds and W0,000 +n UP ' A '
A&fdahle Hous* Account ftifids fof a total of tip to
575 to he availahle in suppeft of A&fdahle
uott�a�^ aeyelo�ri o�� t ^f t4se Mone Gree �i ao.,oi �ri o��.
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Adopted by the Plymouth City Council Hous* and Redevelopment Authefity on January 22Fy
4-5,20021+