HomeMy WebLinkAboutCity Council Resolution 2001-291CITY OF PLYMOUTH
RESOLUTION NO. 2001-291
ADOPTING A MULTI -FAMILY HOUSING REVENUE BOND FINANCING POLICY
WHEREAS, the City of Plymouth has been granted authority under Minnesota Statutes, Sections
462C, and Chapter 474A, as amended, to issue tax-exempt multi -family housing revenue bonds to
finance housing occupied in part by low- and moderate income persons; and
WHEREAS, the City's updated Comprehensive Plan identifies the development of a multi -family
housing revenue bond policy "to leverage affordable housing beyond minimums required by law, and
to generate revenue to support housing efforts of the HRA"; and
WHEREAS, the Board of Commissioners of the Plymouth Housing and Redevelopment Authority
(HRA) has reviewed and recommended adoption of the attached multi -family housing revenue bond
policy by the City Council; and
WHEREAS, the City Council wishes to adopt such policy;
NOW THEREFORE BE IT RESOLVED, that the Plymouth City Council adopts as official City
policy, the attached Multi -family Housing Revenue Bond Policy;
BE IT FURTHER RESOLVED, that the attached Policy supersedes all other previous policies
adopted by the City Council related to the issuance of multi -family housing revenue bonds.
Adopted by the Plymouth City Council on July 10, 2001.