HomeMy WebLinkAboutHousing & Redevelopment Authority Resolution 93-20HILA RESOLUTION 93-20
APPROVAL OF A CONSTRUCTION LOAN APPLICATION WTTH NORWEST BANK TO
FUND CONSTRUCTION OF A SINGLE FAMILY HOME ON THE ROCKFORD
ADDITION PLAT
wWMEAS, the Plymouth Housing and Redevelopment Authority needs a short teem
construction loan to pay for costs associated with the construction of an affordable single
family home on the Rockford Addition plat until such time as ad eligible family can talm
possession of the residence and begin mortgage payments;
NOW, THMEFORE, BE IT ICY RESOLVED BY THE HOUSING AND
REDEVELOPMENT AUTHORITY OF THE CITY OF PLYMOUTH, MINNESOTA to
direct staff W make application
nomcoon
constloanruction (
9)
eth Norwast Bank with such loan not -
w -
months at an i rate of no more
exceed $60,000 for a period
than 7.5 percent.
Adopted by the Plymouth Housing and Redevelopment Authority on September 21, 1993.
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