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7B, Approve Resolution 2011-008 in Support of Arden Village HOMECDBG Application
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7B, Approve Resolution 2011-008 in Support of Arden Village HOMECDBG Application
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10/24/2024 10:30:57 AM
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2/11/2011 3:29:48 PM
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2-14-11 Regular City Council Meeting
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An updated letter of s�pport including a restatement oi the Ciry's gaod faith co�nnnit�ent for TIF <br />assistance will be needed for SCPs June 201 l, MHFA tax credit funding apptication. The <br />MHFA l�tter of support will be requested at a later date. It is possible that a stabalized economy <br />and the completion of a similar SCI project in W�ite Bear Lake may alter the tax projections and <br />TIF runs. If that occurs, SCI has indicated it may request additional T�F assistance as supported <br />by revised TIF runs, and the City Cauncil may evaluaie any request for additionaI assistance at <br />that tizxae. � any case, City approval of a tax increment district will be necessary. Prior to <br />appro�al, the City Council will need to determine whether the final f r�ancial analysis <br />demonstrates the need far the requested support. <br />Attachments• <br />A. Resalution of support of Sand Companies, Inc.'s request for HOME or CDBG grant <br />funding <br />B. Map showing location of 129£ Caunty Raad F <br />C. June 14, 2Q10, letter of support for MHFA tax credit funding <br />D. June 14, 2010, rneeting minutes <br />City ofArderr Hills <br />City Council Meeting February 14, 2011 <br />Page 3 of 3 <br />
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