Title
RESOLUTION AUTHORIZING THE HOUSING AND REDEVELOPMENT AUTHORITY OF DULUTH (HRA) TO EXTEND THE TERM OF TWO MORTGAGE AGREEMENTS BY FIVE YEARS RELATED TO THE SKINNER APARTMENTS.
Body
CITY PROPOSAL:
RESOLVED, that the city council hereby authorizes extending the term of the two mortgage agreements by five years, from the date of city council approval of this resolution, by the Duluth HRA of the terms of the Affordable Housing Program and Duluth Rental Property Rehabilitation Program loans entered into with Center City Housing for the rehabilitation of the Skinner Apartments (formerly New Apollo Apartments).
Statement of Purpose
STATEMENT OF PURPOSE: This resolution provides city approval of the HRA’s extension of the terms of two loans that were supported by Community Development Block Grant (CDBG) funds awarded to the HRA to implement housing rehabilitation programs. The loans were entered into in 1994, and the original terms have expired. The Affordable Housing Program loan was in the amount of $30,000, and the Duluth Rental Property Rehabilitation Program loan was for $109,000.
The HRA, city staff, and Center City Housing have agreed that the extension of the terms of these loans to November 20, 2022, would ensure additional years of affordability for tenants of the Skinner Apartments for the foreseeable future. HRA, city staff, and Center City Housing will collaborate to ensure housing is provided in a safe and equitable manner.