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HomeMy WebLinkAbout2011-014 EDAR Commissioner Tim Roche introduced the following resolution and moved its adoption: EDA RESOLUTION NO. 2011 -14 RESOLUTION AUTHORIZING SUBMISSION OF AN APPLICATION TO THE MINNESOTA HOUSING FINANCE AGENCY FOR COMMUNITY FIX -UP FUND (CFUF) DESIGNATION AND COMMUNITY REVITALIZATION (CRV) FUNDING WHEREAS, the Minnesota Housing Finance Agency has issued a Request for Proposals for the Community Revitalization Fund; and WHEREAS, the Cities of Brooklyn Center, Richfield, and Crystal (the Cities) are working together with the Greater Metropolitan Housing Corporation (GMHC) to create a home improvement incentive loan program to stabilize neighborhoods affected by foreclosures and declining property values; and WHEREAS, the participating entities have the institutional, managerial and financial capability to insure adequate project and grant administration; and WHEREAS, the Economic Development Authority of Brooklyn Center, Minnesota certifies that it will comply with all applicable laws and regulations as required by the program contract grant agreements; and WHEREAS, local matching funds are required for participation in the Community Revitalization Fund grant program; and WHEREAS, the Cities are also seeking an allocation for funding from the MHFA Community Fix -Up Fund. NOW, THEREFORE, BE IT RESOLVED that the Economic Development Authority of Brooklyn Center, Minnesota supports the application to the MHFA in conjunction with the Greater Metropolitan Housing Corporation and the Cities of Richfield and Crystal to receive Community Fix Up Fund designation and Community Revitalization Funds and is supportive of providing the required local match for the Community Revitalization Fund program from the City's Tax Increment Financing District #3 Housing Account. BE IT FURTHER RESOLVED that the EDA Executive Director is authorized to execute such documents as are necessary to facilitate completion of the CRV .Grant Application. June 27 2011 Date President The motion for the adoption of the foregoing resolution was duly seconded by Commissioner KayyLasman and upon vote being taken thereon, the following voted in favor thereof. Tim Willson, Carol Kleven, Kay Lasman, Tim Roche, and Dan Ryan; and the following voted against the same: none; whereupon said resolution was declared duly passed and adopted.