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Mr, James Andre <br />Mr.i Thomas Deans <br />October 22, 1,984 <br />Page 2 <br />E) state Requirements-; <br />N <br />a. if Ro�sieville has not adopted a housALng plan <br />which meet,si the requiriemen,ts of Chapter .462C, <br />Chal:>ter 4162C requires that a housing plan mutt ba- <br />pirepa,rellid, a, public hearing on the housing olan <br />Ield and the housing plan, must be submitted to <br />the Metropolitan Council for their comments; <br />4 <br />b. a Public hearing must ble held on the housing <br />pro3ecti after at least 15 day's prior published <br />no t,i ce <br />housing project must be submitted to the <br />M it, <br />innesillota Housing Finance Aqency for approvale and <br />I.. If <br />d,. 55% of thie rental units must.be leased to <br />persions of moderate income,, a category defined to <br />mean perisions or families whose "income is equal to <br />or less, than 110% of median income for the area in <br />which the project is located, <br />ki a <br />Housing Revenue Blonds for rental housing projects are not <br />subject, to the new federal "ll"Mited bonding authority" require- <br />mentse Therefore, this type of bond "issue is not counted <br />i <br />against the City's allocation. <br />IIII <br />If thie City dietermines that, as a �matter of policy 'it will <br />a <br />issue, housing revenue biondis foiri rental housing projects, I wouli <br />be glad, to answer any questionsi that City staff and the City <br />Counicil, may h,aviell., Customarily, when I act as bond counsel for <br />this type, of an, isisue, I prepare the following documents.e <br />Housing Program <br />• description of the proposed <br />Vi <br />holusing proilect) <br />b <br />2 Resolution calling for a, public hearing on the <br />Housing Program and Not icie of Pub! ic Hearing <br />