HomeMy WebLinkAbout2009-002 EDARCommissioner Kay Lasman introduced the following resolution and
moved its adoption:
EDA RESOLUTION NO. 2009-02
RESOLUTION ESTABLISHING HOUSING PROGRAMS AND APPROVING
THE USE OF FUNDS FROM THE TAX INCREMENT DISTRICT NO. 3
HOUSING ACCOUNT
WHEREAS, the increase in mortgage foreclosures and vacant properties in the City
of Brooklyn Center (the "City") has resulted in significant problems, including blight and
deterioration, health and safety hazards, decreasing property values, and disincentives to
reinvestment, among others; and
WHEREAS, the Economic Development Authority in and for the City of Brooklyn
Center, Minnesota (the "EDA") has determined that it is in the public interest to address these
problems by encouraging occupancy and home ownership of such vacant buildings; and
WHEREAS, the EDA has reviewed and considered a number of programs as
hereinafter established to promote home ownership of foreclosed and vacant properties and to
remove blighted, distressed, and unmarketable properties from the City; and
WHEREAS, the EDA has determined that it is reasonable and appropriate to use
available funds from Tax Increment District No. 3 Housing Account to finance such programs; and
WHEREAS, the EDA has determined that it is in the best interests of the public and
the public health, safety and welfare of the citizens of the City that the EDA establish such programs
and make funds available therefor, all as hereinafter provided;
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Brooklyn Center, Minnesota, as follows:
1. The EDA hereby establishes its loan assistance programs to promote home
ownership of foreclosed and vacant properties. The loan assistance programs
include the ReNew Loan Program to provide loans for down payment and closing
cost assistance and the ReNew Grant Program to provide grants for down payment
and closing cost assistance.
2. The EDA hereby establishes its Remove and Rebuild Program to acquire and
demolish blighted distressed and unmarketable properties and return the properties to
an enhanced, compatible use with the neighborhood.
3. The EDA hereby approves the use of Tax Increment District No. 3 Housing Account
funds to fund the ReNew Loan Program, the ReNew Grant Program, and the
Remove and Rebuild Program.
RESOLUTION NO. 2009-02
4. The EDA hereby approves the proposed CONSULTANT SERVICES
AGREEMENT between the Brooklyn Center EDA and the Greater Metropolitan
Housing Corporation for the administration of the ReNew Loan Program, The
ReNew Grant Program, and the Remove and Rebuild Program.
5. The President and Executive Director of The Economic Development Authority in
and for the City of Brooklyn Center are authorized and directed to execute the
CONSULTANT SERVICES AGREEMENT with the Greater Metropolitan
Housing Corporation for the administration of the above named programs, and to
take all such other and further steps as are reasonable and necessary to effect the
programs established by this resolution.
U~ Lam/ ,
Januarv 12. 2009
Date President
The motion for adoption of the forgoing resolution was duly seconded by commissioner
Tim Roche
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Kay Lasman, Tim Roche, Dan Ryan, and Mark Yelich;
and the following voted against same: none ;
whereupon said resolution was declared duly passed and adopted.
1