HomeMy WebLinkAboutHousing & Redevelopment Authority Resolution 93-248CITY OF PLYMOUTH
RESOLUTION 93-248
APPROVAL OF INTERNAL FINANCING FOR THE DEVELOPMENT OF SENIOR
CITIZEN HOUSING
WHEREAS, the plyma city Council endorses the development of 99 units of senior citizen
housing in the most economical and prudent manner possible; and,
W =SAS, the concept of providing an iffier -fund loan to the Plymouth Housing and
Redevelopment Authority OM) would result in a lower interest tate than an open madwt sale
of bonds; and,
WHMtBAS, in addition the HRA will save over $500,000 of assorted underwriting and other
bond issuing fees with the use of internal fmancing;
NOW, SORE, BE IT HAY RESOLVED BY THE CITY COUNCIL OF THE
G:: Y OF PLYMOUTH, MINNESOTA, that it endorses the concept of an inter -fund loan w
the HRA for the development of 99 units of senior citizen housing at the northeast cornier c!'
Plymouth Boulevard and 37th Avenue North.
Adopted by the City Council on May 3, 1993.
statiieport/res: aenhouse)
0