Title
RESOLUTION OF SUPPORT FOR ONE ROOF COMMUNITY HOUSING'S REQUEST TO THE STATE OF MINNESOTA FOR QUALIFYING MULTIFAMILY FUNDING AND THE CONDITIONAL COMMITMENT OF UP TO $3,857,143 OF AMERICAN RESCUE PLAN ACT FUNDING AND INTENT TO APPROVE A HOUSING AND REDEVELOPMENT AUTHORITY OF DULUTH TAX INCREMENT FINANCE PLAN TO PROVIDE UP TO $1,000,000 FOR THE CONSTRUCTION OF THE 72 UNIT BRAE VIEW SENIOR APARTMENTS PROJECT.
Body
CITY PROPOSAL:
RESOLVED, that the City of Duluth hereby expresses its support for One Roof Community Housing's request to Minnesota Housing Finance Agency (MHFA) for the allocation of low-income housing tax credits and/or other funding provided by MHFA, to construct a 72-unit affordable multifamily apartment building for seniors in the Central Hillside neighborhood (the "Project").
BE IT FURTHER RESOLVED, that the City Council of the City of Duluth does hereby conditionally commit up to $3,857,143 of American Rescue Plan Act (ARPA) funding to support a portion of the cost of the Project, subject to the Developer, One Roof Community Housing, successfully securing the necessary funding from MHFA and other funding sources to ensure project completion by 2026 and to the approval of a development agreement between the City and the Developer.
BE IT FURTHER RESOLVED, that the Duluth City Council hereby states its intent to approve a tax increment financing ("TIF") plan creating a housing TIF district if and when brought forward by the Housing and Redevelopment Authority of Duluth, MN, (HRA) to support up to $1,000,000 over a term of up to 26 years in connection with construction of the Project.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution expresses the City Council's support of an application to be submitted to MHFA by One Roof Community Housing (One Roof), for low-income housing tax credit and other Multifamily Consolidated RFP funding that may be awarded by MHFA for the construction of the Brae View Senior Apartments project. The ...
Click here for full text