Item Description:
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Negotiate 9 Repair + Grow grant agreements, 01/01/25-12/31/27, total combined NTE $17,313,956
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Resolution:
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BE IT RESOLVED, that the County Administrator be authorized to negotiate the following Repair + Grow Agreements, helping non-profit developers to sustain and increase future affordable housing development, during the period January 2, 2025 through December 31, 2027:
* Aeon: $7,135,669, PR00006893
* Agate Housing & Services: $214,070, PR00006897
* Alliance Housing: $399,832, PR00006892
* Beacon Interfaith: $1,302,677, PR00006899
* Clare Housing: $293,528, PR00006898
* CommonBond Communities: $4,428,912, PR00006890
* Hope Communities: $322,209, PR00006894
* Project for Pride in Living: $2,289,425, PR00006896
* RS Eden: $927,634, PR00006891; and
that following review and approval by the County Attorney's Office, the Chair be authorized to sign the agreements and related documents on behalf of the county; and that the Controller be authorized to disburse funds as directed; and
BE IT FURTHER RESOLVED, that the Hennepin County Board of Commissioners authorizes the County Administrator to revise, as needed, the funding amounts of the Hennepin County Board approved projects in response to potential changes in a specific project's funding requirements providing that such revisions will not result in an increase in the aggregate funding of $17,313,956 for any projects being funded that have not been approved by the board.
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Background:
The 93rd Minnesota Legislature approved a first-ever sales and use tax dedicated to affordable housing, and annual appropriations to the new Statewide Local Affordable Housing Aid fund. The 0.25% Metropolitan Region Sales and Use Tax for housing, plus annual appropriations, will provide an estimated $30 million per year for Hennepin County under the Local Affordable Housing Aid (LAHA) and Statewide Affordable Housing Aid (SAHA) programs. The primary intent of these new funding sources is to inc...
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