HomeMy WebLinkAboutHousing & Redevelopment Authority Resolution 92-09HRA RESOLUTION NO 92-09
RESOLUTION ESTABLISHING THE DATE FOR A PUBLIC HEARING ON A PROPOSED FINANCING
PROGRAM FOR THE ISSUANCE OF BONDS OR NOTES FOR THE ACQUISITION AND
CONSTRUCTION OF A MULTIFAMILY RENTAL HOUSING FACILITY FOR ELDERLY PERSONS
WHEREAS, pursuant to Minnesota Statutes, Section 469.001 to 469.041 (the
Act"), the Housing and Redevelopment Authority in and for the City of
Plymouth, Minnesota (the "Authority") is authorized to undertake housing
development projects for financing, acquisition and construction of
multifamily rental housing which is affordable to elderly persons and persons
and families of moderate income in the City of Plymouth, following adoption of
a housing plan and a bond financing program pursuant to Minnesota Statutes,
Chapter 462C; and
WHEREAS, the City of Plymouth (the "City") has in effect a housing plan (the
Plan") meeting the requirements of Minnesota Statutes, Section 462C.03, Subd.
1(a) -(d) and has obtained review of the Plan in the manner provided in
Minnesota Statutes, Section 462C.04, Subd. 1; and
WHEREAS, the Authority proposes to issue bonds or notes, in an amount
presently estimated not to exceed $7,000,000 to finance the acquisition and
construction of a multifamily rental housing development project containing
approximately 100 units to serve as affordable housing for elderly persons in
the Plymouth area (the "Project") to be located in the City; and
WHEREAS, Minnesota. Statutes, Section 469.0171 and Section 462C.05 require
adoption of a bond financing program after a public hearing held thereon after
publication of notice in a newspaper of general circulation in the City of
Plymouth at least fifteen days in advance of the hearing, a copy of which
notice is attached hereto as Exhibit A; and
WHEREAS, Minnesota Statutes, Section 469.0171 and Section 462C.04 require the
preparation of a bond financing program (the "program"), a copy of which is
attached hereto as Exhibit B, and the submission of the Program to the
Metropolitan Council for its review and comment.;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE. HOUSING
AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF PLYMOUTH THAT:
1. The Board of Commissioners of the Authority will conduct a public
hearing on the Program on December 15, 1992, at 6:30 p.m. at the
offices of the Authority.
2. The Executive Director of the Authority, or his designee, is hereby
ae-thorized to cause a public notice substantially in the form attached
ereto as Exhibit A, to be published once in a newspaper of general
circulation in the City at least fifteen (15) days prior to the date
established for the public hearing by the preceding paragraph of this
resolution.
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3. The Executive Director of the Authority, or his designee, is hereby
authorized and directed to submit the Program to the City arl theMetropolitanCouncilonorbeforethedateofpublicationofthe
notice of the public hearing.
Alopted by the Housing and Redevelopment Authority on November 17, 1992.
HOUSING AND REDEVELOPMENT AUTHORITY 1H AND FOR THE CITY OF PLYMOUTH
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