Title
RESOLUTION OF SUPPORT FOR AMERICAN INDIAN COMMUNITY HOUSING ORGANIZATION AND BLUELINE DEVELOPMENT, INC'S REQUEST FOR LOW INCOME HOUSING TAX CREDITS AND A CONDITIONAL PRE-COMMITMENT OF $300,000 FISCAL YEAR 2023 COMMUNITY DEVELOPMENT FUNDING FOR THE CONSTRUCTION OF A 60 UNIT AFFORDABLE MULTIFAMILY APARTMENT BUILDING.
Body
CITY PROPOSAL:
RESOLVED, that the City of Duluth hereby expresses its support for American Indian Community Housing Organization (AICHO) and BlueLine Development Inc.'s request to the Minnesota Housing Finance Agency (MHFA) for the allocation of low-income housing tax credits and/or other funding provided by MHFA, to construct a 60-unit affordable multifamily apartment building in the Morgan Park neighborhood of Duluth (the "Project")
BE IT FURTHER RESOLVED, that the proper City officials hereby approve a pre-commitment of Fiscal Year (FY) 2023 funds to be received by the City of Duluth as allocated by the federal Housing and Urban Development Department (HUD) for construction of the Project. The award of $300,000 subject to the receipt thereof from HUD, the Developer, AICHO and BlueLine Development Inc., securing the necessary funding from MHFA or other funding sources to ensure project construction by 2024 and to the approval of a development agreement between the City and the Developer therefore.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution expresses the City Council's support of an application to be submitted to MHFA by AICHO and BlueLine Development Inc. for low-income housing tax credits and other Super RFP funding that may be awarded by MHFA for construction of an affordable 60-unit multi-family apartment building. The deadline for submission of the application to MHFA is July 15, 2022. MHFA intends to finalize funding decisions at their December 15, 2022 board meeting. Additionally, this resolution provides for a pre-commitment of a portion of the City's FY 2023 HUD allocation for construction of affordable mu...
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