HomeMy WebLinkAbout1995-019 EDAR1
1
Commissioner Barb Kalligher introduced the following resolution
and moved its adoption:
EDA RESOLUTION NO. 95 19
RESOLUTION AUTHORIZING EXECUTION OF PROGRAM APPLICATION
COMMITMENT AGREEMENT FOR THE 1995 MINNESOTA HOUSING
FINANCE AGENCY'S MINNESOTA CITY PARTICIPATION PROGRAM
WHEREAS, the Brooklyn Center Economic Development Authority has submitted
an application for the Minnesota Housing Finance Agency's Minnesota City Participation
Program to provide mortgage funds for qualified first time home buyers in the City of Brooklyn
Center; and
WHEREAS, the Minnesota Housing Finance Agency has granted an allocation
under the Minnesota City Participation Program to the Brooklyn Center Economic Development
Authority in the same amount of $589,984; and
WHEREAS, the Program Application Commitment Agreement sets forth the terms
and conditions of the Minnesota City Participation Program for the Brooklyn Center Economic
Development Authority and the Minnesota Housing Finance Agency; and
WHEREAS, execution of the Program Application Commitment Agreement by
the Brooklyn Center Economic Development Authority is a requirement to participate in the
Minnesota City Participation Program.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Brooklyn Center as follows:
1. The Brooklyn Center EDA hereby authorizes its Executive Director to
execute the Program Application Commitment Agreement, including the
Request for Issuance of Bonds, for the 1995 Minnesota City Participation
Program on behalf of the Brooklyn Center Economic Development
Authority.
2. The Brooklyn Center Economic Development Authority authorizes payment
of a fully refundable deposit fee in the amount of $5,899.94 to the
Minnesota Department of Finance.
3. The Brooklyn Center Economic Development Authority authorizes payment
of a processing fee in the amount of $120 to the Minnesota Department of
Finance.
July 5, 1995
Date
Presideiqt
1
EDA RESOLUTION NO. 95 -19
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Kathleen Carmody and upon vote being taken thereon, the following voted
in favor thereof:
Myrna Kragness, Kristen Mann, Debra Hilstrom, and Kathleen Carmody;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.