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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 held on Monday, September 14, 2020, commencing at 6:00 o’clock P.M. The following members were present: and the following were absent: Member ___________ introduced the following resolution and moved its adoption: RESOLUTION NO. ______ RESOLUTION RELATING TO FINANCING SENIOR LIVING DEVELOPMENTS UNDER MINNESOTA STATUTES, CHAPTER 462C; CALLING A PUBLIC HEARING THEREON (a) WHEREAS, the City is authorized by Minnesota Statutes, Chapter 462C, as amended (the “Act”), to adopt a program to finance multifamily housing and healthcare facilities within its boundaries. (b) WHEREAS, the City has been requested to conduct a public hearing on a proposal that the City grant host city approval to the issuance by the City of Deephaven, Minnesota (the “Issuer” or “Deephaven”),of itsand/or tax-exempt revenue bonds in a principal amount not to exceed $55,000,000 (the “Bonds”), on behalf of State Housing Holdings of Minnesota, LLC, a Wyoming limited liability company (the “Borrower”), the sole member of which is State Housing & Community Services Corporation, a California nonprofit public benefits corporation. Proceeds of the Bonds will be loaned to the Borrower and applied to finance or refinance costs of acquisition, construction and/or improvement, of new and existing senior living facilities located in the City, and in the cities of Inver Grove Heights, Little Canada, North St. Paul and Vadnais Heights, Minnesota (each a “Facility,” and collectively, the “Facilities”). (c) WHEREAS, the Facility located in the Cityconsists of an existing 25-unitsenior housing facility located at 197 County Road B2 West (the “Roseville Facility”). The Roseville Facility will be owned and operated by the Borrower. (d) WHEREAS, in connection with the issuance of the Bonds, and pursuant to the Act, the City has developed and there is attached as Exhibit A hereto a Housing Program (the “Housing Program”). NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, Minnesota, as follows: