HomeMy WebLinkAbout2023-078 CCRMember Butler introduced the following resolution and moved its adoption:
RESOLUTION NO.2023-78
RESOLUTION SUPPORTING AN APPLICATION TO THE MINNESOTA HOUSING
FINANCE AGENCY TO RECEIVE 41)(1) CLASSIFICATION FOR CERTAIN PROPERTY
IN THE CITY
WHEREAS, on July 10, 2023, the Brooklyn Center Economic Development Authority, a
public body corporate and politic (the "EDA"), approved a TIF Assistance Agreement (the "TIF
Agreement"), between the EDA and Wangstad Commons LLLP, a Minnesota limited liability
limited partnership (the "Developer"), pursuant to which the Developer will acquire certain EDA-
owned property (the "Development Property") and construct and equip thereon an approximately
54-unit affordable multifamily rental housing facility with a combination of surface level and
underground parking spaces, and all related amenities and improvements (collectively, the
"Project"); and
WHEREAS, during the 2023 regular session, the Minnesota Legislature passed and the
Governor signed Minnesota Laws, 2023, Regular Session, Chapter 64, Article 3, Section 16, which
amends Minnesota Statutes, Section 273.128, and states, in part, that prior to submitting an initial
application to the Minnesota Housing Finance Agency ("MHFA") for certification of property as
low-income rental property classified as class 4d under section 273.13, subdivision 25 ("4d
Property"), the property owner must receive the approval of the city or town where the property is
located if the net tax capacity of 4d Property in that municipality is greater than 2% of the total net
tax capacity of the municipality in the prior assessment year; and
WHEREAS, in connection with its financing for the Project, the Developer has requested that
the City Council of the City (the "Council") adopt a resolution approving its application to MHFA to
certify the Development Property as a 4d Property.
NOW, THEREFORE, BE IT RESOLVED by the City Council (the "Council") of the City
of Brooklyn Center, Minnesota (the "City"), as follows:
1. The Council hereby approves the Developer's application to MHFA and the
certification of the Development Property as a 4d Property thereunder.
2. City staff are authorized to take all actions necessary or desirable in connection
with this resolution, including but not limited to the execution and delivery of any documents
required for the Developer's application to MHFA.
Adopted by the City Council of the City of Brooklyn Center, Minnesota, this 14th day of
August, 2023.
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Mayor,Apri Graves
ATTEST:
City Clerk, Barb Suciu
The motion for the adoption of the foregoing resolution was duly seconded by member:
Graves.
and upon vote being taken thereon, the following voted in favor thereof:
Butler, Graves, Jerzak, Kragness, Lawrence -Anderson.
and the following voted against the same: None.
whereupon said resolution was declared duly passed and adopted.
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