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Attached is a letter from the City's bond caunsel regarding this matter and the resolution <br />granting preliminary approval to issue the revenue obligations. A letter from t�e <br />Metropolitan Council is also included approving the housing project. <br />Council Action Requested <br />1. Conduct a puhlic hearing on the rnatter. <br />2. A motion to adopi Resolution 2011-039, a resolution approving a housing <br />program relating to a senior r�ntal housing development to be located in the City <br />of Arden Hills; granti�g preliminary appxoval io the issuance of revenu� <br />obligations by �he City to finance the senior rental housing development; and <br />approving and authorizing certain related actions, <br />City Cour�cil Meeting <br />P:1AdminlCouncillAgendas & Packet Information120111Pres Homes Conduit Debit Pubiic Hearing & Prelim Approval.doc <br />Page 2 of 2 <br />