Title
RESOLUTION OF SUPPORT FOR ONE ROOF COMMUNITY HOUSING ORGANIZATION'S REQUEST TO THE STATE OF MINNESOTA FOR LOW INCOME HOUSING TAX CREDITS AND THE CONDITIONAL COMMITMENT OF UP TO $3,857,143 OF AMERICAN RESCUE PLAN ACT FUNDING FROM THE CITY OF DULUTH FOR CONSTRUCTION OF THE 72 UNIT BRAE VIEW SENIOR HOUSING DEVELOPMENT.
Body
CITY PROPOSAL:
RESOLVED, that the City of Duluth hereby expresses its support for One Roof Community Housing Organization's request to the Minnesota Housing Finance Agency (MHFA) for the allocation of low-income housing tax credits and/or for other funding provided by MHFA, to construct a 72-unit affordable multifamily housing development in the Central Hillside neighborhood of Duluth (the "Project").
BE IT FURTHER RESOLVED 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 fund a portion of the cost of the Project, subject to the Developer, One Roof Community Housing Organization, successfully securing the necessary funding from MHFA and other funding sources to ensure project completion by 2024 and to the approval of a development agreement between the City and the Developer.
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 Organization for low-income housing tax credit and other Super RFP funding that may be awarded by MHFA as well as a conditional commitment of $3,857,143 in ARPA funding for the construction of a 72-unit affordable multifamily housing development.
On May 9, 2022 Council approved resolution 22-0368R which provided support for One Roof Community Housing's request to MHFA for low income housing tax credits, a conditional commitment of $4.5 in American Rescue Plan Act (ARPA) funding, and an intent to approve Tax Increment Financing in an amount not to exceed $975,000 for the construction of the 70-84 unit Brae Vi...
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