HomeMy WebLinkAbout1983-032 CCRMember Rich Theis introduced the following resolution and
moved its adoption:
RESOLUTION N0. 83 -32
RESOLUTION ADQPIIN:G H -..9 3.MU,TIFAMILY HOUSING DEVELOPMENT BOND PROGRAM
WHEREAS, Minnesota Statutes Chapter 462C (the "Act ")authorizes the
City of Brooklyn Center (the "City to develop and administer programs of making
or purchasing loans to finance multifamily housing developments located within its
boundaries for rental primarily to elderly persons; and
WHEREAS, the City has prepared a 1983 Multifamily Housing Development
Bond Program (the "Program for the issuance of bonds to make a loan to finance
the construction of a 65 unit multifamily rental apartment facility for the elderly,
known as the "Brookwood Manor" to be undertaken by Brutger Companies, Inc. (the
"Project and
WHEREAS, the City on September 21, 1982 adopted the Housing Plan (the
"Plan for the City, and on the date hereof amended the Plan to include the
Program; and
WHEREAS, the City will submit the Plan, as amended, to the Metropolitan
Council for review; and
WHEREAS, the City has considered (1) the availability and affordability of
other government housing programs for the elderly; (2) the availability and
affordability of private market financing for construction of multifamily housing
development for the elderly; (3) an analysis of population trends; and (4) the recent
housing trends of the City and future housing needs in the City; and
WHEREAS, the City Council has further considered (1) the amount, timing
and sale of bonds to finance the estimated amount of the loan to be made under the
Program and to pay the costs of issuance; (2) the method of administering and
supervising the Program; (3) the cost to the City, including future administrative
expenses; and (4) certain other limitations; and
WHEREAS, the City Council has held a public hearing regarding the Program
for which hearing notice was duly published in the Minneapolis Star and Tribune on
January 12, 1983.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center:
1. That the 1983 Multifamily Housing Development Bond Program as is on
file with the City Clerk is hereby in all respects adopted; and
2. That the City Manager is authorized and directed to submit the 1983
Multifamily Housing Development Bond Program together with any
supporting documentation to the Minnesota Housing Finance Agency
for review and approval pursuant to Section 4, Subdivision 2 of
Minnesota Statutes, Chapter 462C, and to do all other things and
RESOLUTION NO. 83 -32
take any other actions as may be necessary or appropriate to carry
out the Program in accordance with the Act and any other applicable
laws or regulations; and
3. That preliminary approval is hereby given for the issuance of
revenue bonds in an amount presently estimated not to exceed
$3,450,000, pursuant to the Act to finance construction of the
Project by Brutger Companies, Inc.
February 14, 1983 fi' 1
Date� Ma>o
The motion for the a, tion of the foregoing resolution was duly seconded by
member Bill Hawes and upon vote being taken thereon, the
following voted in favor thereof: Dean Nyquist, Gene Lhotka, Celia Scott,
Bill Hawes, and Rich Theis;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
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