Item Description:
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2024 AHIF funding recommendations - Neg 9 2024 award agmts, 05/07/24-05/06/79, total combined NTE $5,836,573; supp app to 2024 HCHRA budget
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Resolution:
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BE IT RESOLVED, that the 2019 Affordable Housing Incentive Fund (AHIF) award to American Indian Community Development Corporation for the Pokegama North project in the amount of $85,000 (Agreement PR00001141; Resolution 19-HCHRA-0022), be rescinded; and that the $85,000 be reallocated for distribution under the 2024 Hennepin County Housing and Redevelopment Authority (HCHRA) budget as described herein; that a supplemental appropriation to the 2024 HCHRA Special Projects Fund 37 budget (HRA: 2024 Affordable Housing Project 1010428) 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 repayment proceeds in the amount of $130,050 from Community Involvement Programs for 5101 56th Avenue North in Crystal (2000 and 2009 AHIF awards, Resolutions 12-HCHRA-00R1 and 09-HCHRA-0013R1), $225,010 from Community Involvement Programs for 3101 and 1303 Oxford Street in Hopkins (2001 and 2012 AHIF award, Agreement A120638), and $481,512 from Plymouth Leased Housing Associates, LP for Stone Creek at Medicine Lake, 1020 West Medicine Lake Drive in Plymouth (2001 AHIF award, Agreement A030437), be received and reallocated for distribution under the 2024 HCHRA budget as described herein; that a supplemental appropriation to the 2024 HCHRA Special Projects Fund 37 budget (HRA: 2024 Affordable Housing Project 1010428) in the amount of $836,573 be authorized; and that the Controller be authorized to accept and disburse funds as directed; and
BE IT FURTHER RESOLVED, that the Executive Director be authorized to negotiate the following AHIF Agreements, in the total not to exceed amount of $5,336,573, during the period May 7, 2024 through May 6, 2079:
? PR00006156 with SRPB Strategic Housing LLC or affiliated entity...
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