res_10745 - Laserfiche WebLink

Home

Metropolitan Council has determined it is appropriate to allocate those scarce grant funds only to eligible projects that would not occur without the availability of Demonstration Account grant funding. THEREFORE BE IT RESOLVED that, after appropriate examination and due consideration, the governing body of the City: 1. Finds that it is in the best interests of the City's development goals and priorities for the proposed project to occur at this particular site and at this particular time. 2. Finds that the project component(s) for which Livable Communities Demonstration Account funding is sought: (a) Will not occur solely through private or other public investment within the reasonably foreseeable future; and (b) Will not occur within two years after a grant award unless Livable Communities Demonstration Account funding is made available for this project at this time. 3. Represents that the City has undertaken reasonable and good faith efforts to procure funding for the project component for which Livable Communities Demonstration Account funding is sought but was not able to find or secure from other sources funding that is necessary for project component completion within two years and states that this representation is based on the following reasons and supporting facts: (a) On July 13, 2009, the City Council approved the establishment of a housing TIF district encompassing Phase I and Phase II of the Sienna Green project. Proceeds from the TIF district will go towards financing Phase II. The project will be leveraging other sources of funds for other uses in the project; however, the existing sources are insufficient to pay for all eligible costs, and the majority of the sidewalk improvements that will connect the apartments to transit fall outside the boundaries of the TIF district and are not eligible costs under the low income housing tax credit program. The Roseville HRA also contributed to Phase I of the project. (b) Linking Sienna Green to transit is an important element of the project. However, the city's capital improvement budgets for 2009 and 2010 do not have funding allocated for this sidewalk at this time. 4. Authorizes its Community Development Department to submit on behalf of the City an application for Metropolitan Council Livable Communities Demonstration Account grant funds for the project component(s) identified in the application, and to execute such agreements as may be necessary to implement the project on behalf of the City. The motion for the adoption of the foregoing resolution was duly seconded by Member Ihlan, and upon a vote being taken thereon, the following voted in favor thereof: Roe, Pust, Ihlan, Johnson, and Klausing. and the following voted against the same: None. WHEREUPON said resolution was declared duly passed and adopted.