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<br /> <br /> <br />HOUSING AND REDEVELOPMENT AUTHORITY <br /> IN AND FOR THE CITY OF ROSEVILLE <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> <br /> <br /> RESOLUTION NO. __________________ <br /> <br />A RESOLUTION PROVIDING PR ELIMINARY APPROVAL FOR THE <br />FINANCING PROGRAM TO ASSIST CENTRAL COMMUNITY HOUSING <br />TRUST WITH THE REHABILITATION OF THE HAR MAR APARTMENTS <br />AND THE CONSTRUCTION OF NE W AFFORDABLE APARTMENTS; AND <br />REQUESTING CITY COUNCIL PREL IMINARY APPROVAL FOR THE <br />FINANCING PROGRAM AND THE CALLI NG OF A PUBLIC HEARING TO <br />ESTABLISH A TAX INCREMENT FINANCING DISTRICT. <br /> <br />BE IT RESOLVED by the Board of Co mmissioners (the “Co mmissioners”) of the <br />Housing and Redevelopment Authority in and for t he City of Roseville (t he "Authority") as <br />follows: <br /> <br />Section 1. Recitals . <br /> <br />1.01 The Authority’s housing goals incl ude the promotion and development of <br />affordable housing and are enumerated more spec ifically in the Authority’s Housing and <br />Redevelopment Plan. <br /> <br />1.02 Central Community Housing Trus t (“CCHT”) has as its mission the <br />rehabilitation, development and m anagement of affordable housing. <br /> <br />Section 2. Findings. <br /> <br /> 2.01. CCHT has purchased the apartm ents at 2225 through 2265 Snelling Avenue <br />North known as the Har Mar Apartments (references will be made to the “Har Mar <br />Apartments” and the “Har Mar Site”). <br /> <br />2.02. There are currently 120 existing apartment unit s. CCHT is planning to <br />rehabilitate the apartments to 73 one-bedroom and 30 two-bedroom units for a total of 103 <br />rehabilitated apartment units (the “Rehabilitation”). <br /> <br />2.03. The Rehabilitation will be financed by CCHT providing equity through deferred <br />development fees, contributions from corpor ations and businesses, a grant from the <br />Minnesota Green Communities, tax credit equi ty, a mortgage and a grant from Ramsey