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1 Exhibit A 2 3 MULTI-FAMILY RENTAL HOUSING PROGRAM OF THE 4 CITY OF ROSEVILLE, MINNESOTA 5 FOR 6 TWIN LAKES FAMILY APARTMENTS PROJECT 7 November 4, 2019 8 Proposal; Authority. The City of Roseville, Minnesota (the "City"), at the request of the 9 Borrower (defined below), proposes to issue revenue bonds, in one or more series, to assist in 10 financing the acquisition and construction of a multi-family rental housing project described herein 11 (this "Program")pursuant to applicable authority conferred upon the City by the laws of the State 12 of Minnesota, including without limitation Minnesota Statutes, Chapter 462C, as the same may be 13 amended from time to time (collectively, the "Act"). 14 Purposes. In creating this Program, the City is acting in furtherance of its findings that the 15 preservation of the quality of life in the City is in part dependent upon the maintenance and 16 provision of adequate, decent, safe, sanitary, and affordable housing stock; that accomplishing the 17 goals of this Program is a public purpose and will benefit the residents of the City; that the need 18 exists within the City to provide in a timely fashion additional affordable rental housing to and for 19 the benefit of persons of low and moderate income and their families residing and expected to 20 reside within the City; that there exist or are expected to exist persons and families within the City 21 who are and will be able to benefit from and are in need of the Program; that the Program is 22 necessary in view of the limited resources that may be available to such persons relative to the 23 expenses involved in accomplishing the type of objectives outlined in this Program in the absence 24 of one or more of the forms of assistance described herein or otherwise available pursuant to the 25 Act; and that the City hereby finds that such forms of assistance are often necessary for the benefit 26 of such persons, families, and goals and that, furthermore, the successful implementation of the 27 objectives of the kind described in this Program has been found to provide impetus for the 28 development of other housing in the City, as well as the general development of the City,by other 29 persons who are not the beneficiaries of such governmentally sponsored or assisted activities. 30 Rental Housing Purposes. More particularly, the City finds that there exists a need for 31 affordable multi-family rental housing for qualifying individuals and families, which need is not 32 being filled by private enterprise alone due to a variety of factors, including that the cost of new 33 construction of multi-family rental units may in many cases prove economically unfeasible, given 34 the high costs of construction and prevailing area rental levels,and that therefore appropriate levels 35 of public assistance may be helpful and necessary in bridging that gap. 36 General Description of the Program. This Program consists of the financing of the 37 acquisition and construction of an approximately 293,549 square-foot rentable apartment 38 community that will consist of an approximately 228-unit multi-family housing development 39 known as Twin Lakes Family Apartments (the "Project"). The owner of the Project pursuant to 40 the financing will be Roseville Leased Housing Associates I, LLLP, a Minnesota limited liability 41 limited partnership (the "Borrower"), with Roseville Leased Housing Associates I, LLC, a 42 Minnesota limited liability company, as general partner. 12119970v3