7.1 HRSR 05-05-2014 - Laserfiche WebLink

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RESOLUTION NO. 14-02 A RESOLUTION OF THE HOUSING & REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER, SHERBURNE COUNTY, MINNESOTA, APPROVING HOUSING REHABILITATION LOAN PROGRAM Section 1. Recitals. 1.01 The Board of Commissioners (the "Board") of the Housing & Redevelopment Authority in and for the City of Elk River (the "HRA") has proposed to undertake a program to assist in the rehabilitation of owner-occupied single-family homes by making loans to qualifying homeowners in a targeted area in the City of Elk River (the "Program"). • 1.02 The HRA has caused to be prepared Owner-Occupied Housing Rehabilitation Program Policies and Procedures (the "Plan") setting forth, among other things, the terms and conditions under which the HRA will make loans to qualifying homeowners, a copy of which is on file with the HRA Executive Director, along with related Program documents, including but not limited to an Administrative Agreement with Central Minnesota Housing Partnership, Inc. to administer the Program (collectively, the "Program Documents"). NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners ("Board") of the Housing&Redevelopment Authority in and for the City of Elk River ("HRA") as follows: Section 2. Approval of Program. 2.01. The HRA hereby approves the Plan and finds, determines and declares that it is in the public interest of the residents of the City that the Program as described in the Plan be undertaken by the HRA in accordance with Minnesota Statutes, Sections 469.001 through 469.047 (the "HRA Act"). 2.02. In accordance with Section 469.012, Subd. 1i and Minnesota Statutes, Section 462C.03, Subd. 2, the HRA hereby determines that moderate income means 115% of the area median income as defined by HUD for the Minneapolis-St. Paul-Bloomington, MN-WI MSA. 2.03. The Program Documents as presented to the HRA are hereby in all respects approved, in substantially the forms submitted, together with any related documents necessary in connection therewith, and the Chair and Executive Director are hereby authorized and directed to execute the Program Documents, as needed from time to time (including without limitation in connection with initiating the program and originating loans) on behalf of the HRA and to carry out,on behalf of the HRA, the HRA's obligations thereunder. 2.04. The approval hereby given to the Program Documents includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and 443216v1 JSB EL185-26