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Department Approval <br />k" <br />Ix"EQUEST FOR COUNCIL ACTION <br />Date: 03/21/2011 <br />Item No.: 7. h <br />City Manager Approval <br />Item Description: Accept a Livable Housing Incentives Account Grant for Sienna Green 11 and enter <br />into a Memorandum of Understanding with AEON <br />2 The Metropolitan Council has awarded the City of Roseville a grant from the Livable Housing Incentives <br />3 Account (LHIA) for the Sienna Green Phase 11 project. The grant is in the amount of $,300,000 and will <br />4, assist in the construction of the Phase 11 50-unit building. The City needs to approve entering into a grant <br />5 agreement with Metropolitan Council. In addition, staff is requesting that the City enter into a <br />6 Memorandum of Understanding with AEON regarding the disbursement of the LHIA funds. <br />"7 POLICY OBJECTIVE <br />8 By accepting the LHIA grant, the City is helping Aeon secure the financial resources to construct Sienna <br />9 Green Phase 11, an affordable housing project, which is supported by the 2030 Comprehensive Plan. <br />110 FINANCIAL IMPACTS <br />11 By approving these contracts, there are no fiscal impacts to the City as Aeon will be undertaking the work <br />12 identified in the LHIA grant. Funds will only be given to AEON once the eligible work has been <br />14, <br />15 <br />119 <br />20 <br />21 <br />22 <br />23 <br />STAFF RECOMMENDATION <br />Staff recommends that the City Council approve the execution of the LHIA grant contract between the <br />City and the Metropolitan Council in order to facilitate the rehabilitation of Sienna Green Phase 11. <br />Staff also recommends that the City Council approve a memorandum of understanding between the City <br />and Aeon that outlines the responsibilities of the City and AEON regarding the use of the LHIA grant. <br />5. REQUESTED COUNCIL ACTION <br />By MOTION, approve the grant contract between the City and the Metropolitan Council for $,300,000 from <br />the Livable Housing Incentives Account. <br />By MOTION, approve a memorandum of understanding between the City and Aeon that identifies the <br />responsibilities and the expectations of the City and AEON pertaining to the use of the LHIA grant. <br />Prepared, by: Patrick Trudgeon, Community Development Director ( 1) 792-7071 <br />Attachments: A: Livable Housing Incentives Account Contract <br />B: Memorandum of Understanding <br />Page I of I <br />