Item Description:
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Neg Assignment and Assumption of Agmt A110490 to transfer membership interest in Higher Ground Shelter to Catholic Charities of the Archdiocese of Saint Paul and Minneapolis
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Resolution:
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BE IT RESOLVED, that the Executive Director be authorized to negotiate the Assignment and Assumption of Agreement A110490 (2008 and 2009 Affordable Housing Incentive Fund (AHIF) program grant award), and related documents, allowing the assignment and assumption of debt and the transfer of membership interest in CHDC Boxleitner LLC, owner of a portion of Higher Ground, 165 Glenwood Avenue in Minneapolis, from Trellis Co. to Catholic Charities of the Archdiocese of Saint Paul and Minneapolis, or an affiliated entity; that following review and approval by the County Attorney's Office, the Chair and Executive Director be authorized to sign assignment and assumption agreements and other related documents on behalf of the Authority.
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Background:
Higher Ground (Project) provides a continuum of shelter to housing that consists of 251 shelter beds (Higher Ground Minneapolis Shelter) and 85 supportive permanent rental units for single adults (Higher Ground Minneapolis Residence) located at 165 Glenwood Avenue in Minneapolis. All 331 units serve homeless single adults whose income is at or below 30 percent of area median income.
The Project was awarded Affordable Housing Incentive Fund (AHIF) program grant funding in 2008 and 2009. The AHIF funds were awarded under a 30-year term expiring in 2041 (Agreement A110490, Resolution 09-HCHRA-0013-R1). CHDC Boxleitner LLC is an entity affiliated with Trellis, Co., formerly known as Community Housing Development Corporation, and is the owner of the permanent housing portion of the Higher Ground project.
Catholic Charities serves as the manager of the entirety of the Higher Ground property, including the permanent supportive housing currently owned by the Trellis-affiliated entity.
To streamline operatio...
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