Item Description:
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2026 Homeownership Assistance Fund funding recommendations - Neg 5 Agmts, total combined NTE $1,570,742; transfer $300,000 in budget authority from Capital Project 1006757 to Capital Project 1009192
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Resolution:
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BE IT RESOLVED, that repayment proceeds in the amount of $9,742 from Twin Cities Habitat for Humanity for a 2001 AHIF project (Agreement A020517) be received and reallocated for distribution under the 2026 Hennepin County Housing and Redevelopment Authority (HCHRA) Capital Budget (Fund 37) as described herein; that a supplemental appropriation to the 2026 HCHRA Special Project Fund 37 budget for the capital project 1009192: HRA: Homeownership Assistance in the amount of $9,742 be authorized; and that the Controller be authorized to accept and disperse funds as directed; and
BE IT FURTHER RESOLVED, that the unexpended amount of $300,000 from 2020 AHIF award (Resolution 20-HCHRA-0019) to the City of Lakes Land Trust for scattered site project (Agreement PR00002183) be reallocated for distribution under the 2026 HCHRA Capital Budget (Fund 37) as described herein; that a budget authority transfer from capital project 1006757: HRA: Affordable Housing 2019-2023 to capital project 1009192: HRA: Homeownership Assistance in the amount of $300,000 be authorized; and that the controller be authorized to disperse funds as directed; and
BE IT FURTHER RESOLVED, that the Executive Director be authorized to negotiate the following Agreements during the period May 12, 2026 through May 12, 2061:
* PR00008380 with City of Lakes Community Land Trust for acquisition and rehabilitation of up to 15 single-family homes for affordable homeownership in a land trust, with a not to exceed amount of $550,000;
* PR00008385 with Outlaw Development, or affiliated entity, for the construction of 2 single family homes for affordable homeownership in Bloomington, with a not to exceed amount of $200,000;
* PR00008379 with Magnolia Homes LLC, or affili...
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