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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville,Minnesota,was duly called and held at the City Hall in said City on Monday,the 15th day of July, 2019, at 7:00 p.m. The following members were present: Etten, Willmus, Laliberte, Groff, and Roe and the following were absent: None Member Willmus introduced the following resolution and moved its adoption: RESOLUTION NO. 11620 RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL FOR A HOUSING FINANCE PROGRAM AND GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF HOUSING FACILITY REVENUE BONDS TO FINANCE A MULTIFAMILY HOUSING PROJECT PURSUANT TO MINNESOTA LAW, AND AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING (TWIN LAKES FAMILY APARTMENTS PROJECT) A. WHEREAS,Minnesota Statutes,Chapter 462C(the"Act"),confers upon cities,the power to issue revenue obligations to finance multifamily housing developments within the boundaries of the city; and B. WHEREAS, the City Council of the City of Roseville, Minnesota (the "City") has received a proposal from Roseville Leased Housing Associates I, LLLP, a Minnesota limited liability limited partnership (the "Borrower"), with Roseville Leased Housing Associates I, LLC, a Minnesota limited liability company, as general partner,that the City assist in financing a Project hereinafter described,through the issuance of revenue bonds or obligations(in one or more series) (the "Bonds")to be issued in 2019 and/or 2020 pursuant to the Act; and C. WHEREAS, the City desires to facilitate the maintenance and development of multifamily rental housing within the community; encourage the development of affordable housing opportunities for residents of the City; encourage the development and maintenance of housing facilities designed for occupancy by low- and moderate-income households; and encourage the development of blighted or underutilized land and structures within the boundaries of the City; and the Project will assist the City in achieving these objectives; and D. WHEREAS,the Project to be financed by the Bonds consists of the acquisition and construction of an approximately 292,698 square-foot rentable apartment community that will consist of an approximately 228-unit multifamily housing development for low- and moderate- income households, expected to be known as Twin Lakes Family Apartments, located at 1717 and 1743 County Road C West, in the City (the "Project"). The Borrower will be the owner and operator of the Project; and 11853631v2