Item Description:
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2025 AHIF funding recommendations - Neg 4 award modifications; neg 5 2025 award agmts, 05/13/25-05/12/80, total combined NTE $6,114,538
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Resolution:
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BE IT RESOLVED, that the unexpended amount of $29,538 from 2022 AHIF award (Resolution 22-HCHRA-0018) to American Indian Community Development Corporation for the Many Rivers West project (Agreement PR00004381), be reallocated for distribution under the 2025 Hennepin County Housing and Redevelopment Authority (HCHRA) budget as described herein; that a budget authority transfer from HRA: AHIF 2024 Project 1010428 to HRA: AHIF 2025 Project 1011474 in the amount of $29,538, be authorized; and that the Controller be authorized to disburse funds as directed; and
BE IT FURTHER RESOLVED, that the 2023 AHIF awards (Resolution 23-HCHRA-0021) to Reuter Walton Development LLC for the 901 Cedar project in the amount not to exceed $455,000 (Agreement PR00005293), and to Sherman Associates for the Bottineau Commons & Lofts project in the amount not to exceed $545,000 (Agreement PR00005291), be rescinded and reallocated for distribution under the 2025 HCHRA budget as described herein; that a budget authority transfer from HRA: AHIF 2019-2023 Project 1006757 to HRA: AHIF 2025 Project 1010428 in the amount of $1,000,000, be authorized; and that the Controller be authorized to disburse funds as directed; and
BE IT FURTHER RESOLVED, that $85,000 unawarded in the 2024 AHIF program (Resolution 24-HCHRA-0015) be reallocated for distribution under the 2025 HCHRA budget as described herein; that a budget authority transfer from HRA: AHIF 2024 Project 1010428 to HRA: AHIF 2025 Project 1011474 in the amount of $85,000, be authorized; and that the Controller be authorized to disburse funds as directed; and
BE IT FURTHER RESOLVED, that the Executive Director be authorized to negotiate the following Agreements during the period May 13, 2025 through May 12, 2080:
? PR00007240 with Solhem Development, LLC or...
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