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Attachment D <br />EXTRACT OF MINUTES OF MEETING OF THE <br />1 <br />ROSEVILLE ECONOMIC DEVELOPMENT AUTHORITY <br />2 <br />3 <br />* * * * * * * * * * * * * * * * * <br />4 <br />5 <br />6Pursuant to due call and notice thereof, a regular meeting of the Board of Commissioners (the <br />7“Board”) of the Roseville Economic Development Authority (the “Authority”) was duly held on <br />8the 8th day of May, 2017, at 6:00 p.m. <br />9 <br />10The following members were present: <br />11 <br />12and the following were absent: <br />13 <br />14Commissioner ___________ introduced the following resolution and moved its adoption: <br />15 <br />Resolution No. <br />16 <br />RESOLUTION IDENTIFYING THE NEED FOR LIVABLE COMMUNITIES <br />17 <br />DEMONSTRATION ACCOUNT FUNDING AND AUTHORIZING APPLICATION FOR <br />18 <br />GRANT FUNDS <br />19 <br />20 <br />21WHEREAS the Roseville Economic Development Authority (the “Authority”) is eligible <br />22to apply for Livable Communities Demonstration Account funds (the “LCDA Funds”) on behalf <br />23of cities participating in the Livable Communities Act’s Housing Incentives Program for 2017 as <br />24determined by the Metropolitan Council; and <br />25 <br />26WHEREAS only a limited amount of grant funding is available through the LCDA during <br />27each funding cycle, and the Metropolitan Council has determined that it is appropriate to allocate <br />28such funds only to eligible projects where the funds assist innovative development criteria that <br />29meet LCDA priorities; and <br />30 <br />31WHEREAS the Authority has identified aproposed project consisting of the development <br />32of a multifamily rental housing facility including 60 units of workforce housing and 149 units of <br />33market rate housing (the “Project”) within the City of Roseville (the “City”) that meets the <br />34purposes and criteria of the LCDA Funds and isconsistent with and promotes the purposes of the <br />35Metropolitan Livable Communities Act and the policies of the Metropolitan Council’s adopted <br />36metropolitan development guide; and <br />37 <br />38WHEREAS the Authority has the institutional, managerial and financial capability to <br />39ensure adequate administrationof the Project; and <br />40 <br />41WHEREAS the Authority will comply with all applicable laws and regulations as stated <br />42in the grant agreement governing the LCDA Funds; and <br />43 <br />44WHEREAS the Authority agrees to act as legal sponsor for the Project described in the <br />498960v3 MNI RS275-14 <br /> <br />