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` F-stir� ■ vi -r++�`art �L'�34�'�11"�+ *.. r it southvest quadrant of the intersection of Snelling Avenue North and Lydia Avenue, in the City of Roseville, and consists of the construction and Squiring of buildings thar'son which will result in tha prov ion of additional ranta l housing opportunities to persons within the camunityl (f) Tha City has been advised by represe.ntativee of the Dave i oper that convent i ono l, oomeeroiel financing to pay the c a It'Led ta 1 costs of the prof act is available only on a lim basis and at such high costs of borrowing that the economic feasibility Of operating the project would be significantly reduced, but the Develo r has also -advised the city that Frith the aid of nun cipal fiancin and results low borrowing coats, the prcjeat s economically more feasible; (q) A puhl io hearing an the Project was bald on July 2 6 y 1993 aiid September 131 1993, after notice eras uhlishad and materials made available for public rimpaotion at the City Hall, at which public hearing -all those appearing who desired to speak were beard and written dents were accepted; and (h) No public official of the City has either a direct or indirect financial interest in the Project nor will any public official either directly or indirectly benefit f f nano i a l ly from the Projects NOW TillsREFORE p RE IT RESOLVED by the City Council of the City of Roseville, Kinnesote, a's follows: is This Comcil hereby finds that no information Presented at the hearing or since the adoption of the Earlier prel iz inary lResolut ion has caused it to reject the Project or doubt the findings made in the Earlier preliminary Resolution The f i ridings in the Earlier Preliminary Raso lution, and the prel imLnary approvals granted therein, are ratified and confirmed in full. 2. The City hereby main gives preliminary approval to the proposal of the Developer that the city undertake the project, described above p and 'the program of financing therefor, pursuant to Minnesota dtatutse. .Chapter 462C, cone isting of the acquisftLon and construction of multifamily rantal housing facilities within the City pursuant to the Developer's specifications and to a revenue agreement between the City and the Developer on such terms and conditions with provisions for 19 Invi "is PHOW GNY SOD M Wong