Laserfiche WebLink
d <br /> Ai/ <br /> • City of <br /> Elkti. <br /> River <br /> MEMORANDUM <br /> TO: Housing & Redevelopment Authority <br /> FROM: Catherine Mehelich, Director of Economic Development �1 <br /> DATE: June 27, 2001 <br /> SUBJECT: HRA Commissioner Huntington Resignation <br /> Attached for your information is a copy of the letter of resignation from HRA <br /> Commissioner Linda Huntington. The Mayor has been asked to make a new appointment <br /> to the HRA. <br /> Commissioner Huntington's letter suggests the HRA consider the transitional housing needs <br /> of the community. The Central MN Housing Partnership is completing the housing market <br /> analysis as authorized by the HRA earlier this year. The CMHP will be present at the regular <br /> • July HRA meeting to discuss housing issues. <br /> In addition, staff has received an informal request from a developer for the City's issuance of <br /> tax-exempt housing bonds. The City has participated in tax-exempt bonds for private <br /> housing and business development projects in the past. The State of MN allocates its total <br /> tax-exempt bond allocation to a variety of uses including single-family housing, multi-family <br /> housing,manufacturing and other qualifying facilities. In order to access this pool, a <br /> developer must obtain a supporting resolution from the City. The City has no liability in <br /> connection with the bond allocation nor does it have any liability for the repayment of the <br /> bonds. <br /> In 1999, the City Council directed staff to draft a policy for the use and evaluation of tax- <br /> exempt bonding. Staff will be presenting a draft policy for review by the HRA and EDA in <br /> July. Within the policy, the City may establish affordability requirements that the housing <br /> development applicant must meet. <br /> • <br />