Title
RESOLUTION OF INTENT TO SUPPORT THE REQUEST BY AMERICAN INDIAN COMMUNITY HOUSING ORGANIZATION AND DOMINIUM TO THE STATE OF MINNESOTA FOR LOW INCOME HOUSING TAX CREDITS FOR THE INDIGENOUS RESILIENCY AFFORDABLE HOUSING PROJECT.
Body
CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to express support for American Indian Community Housing Organization (AICHO) and Dominium's request for funding to the Minnesota Housing Finance Agency for low-income housing tax credits to construct 50 units of affordable housing.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution expresses the city council's support of an application to be submitted to the Minnesota Housing Finance Agency (MHFA) by AICHO and Dominium for low-income housing tax credits that may be awarded by MHFA for the construction of a 50-unit multi-family affordable housing complex. The deadline for submission of the application to MHFA is July 16, 2020. MHFA intends to finalize their funding decisions by December 2020.
The proposed Indigenous Resiliency Housing project calls for construction of a 50-unit multi-family apartment building (Phase I) at West Arrowhead Road and West Marble Street. The apartment complex will have an emphasis on healthy and affordable housing with a preference to serve American Indian families and individuals. Eight (8) units will be reserved for Project Based Section 8 Housing Vouchers. All units will be rent restricted, with 25 units offered at or below 50% AMI and 14 units at or below 60% AMI.
MHFA requires tax credit applicants for housing developments in Duluth to receive the support of the city council. The support is required to assure that a given proposal is a priority for the City of Duluth and that it meets locally identified housing needs. A 2019 Maxfield Research Inc. housing analysis reported that Duluth could absorb up to 3,509 additional units of affordable housing by 2024. The demand for this type of housing has been fu...
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