HomeMy WebLinkAboutResolution No. 199-18 -HarvestviewPlaceII.TaxCredit
RESOLUTION
A RESOLUTION SUPPORTING A TAX CREDIT
APPLICATION FOR A 76-UNIT WORKFORCE HOUSING
PROJECT TO BE KNOWN AS HARVESTVIEW PLACE II
WHEREAS, Joseph Development LLC has proposed to build a 76-unit workforce
housing project in the City of Rochester; and,
WHEREAS, 100% of the units in the housing project will be affordable to households
with incomes at or below 60% of the area median income; and,
WHEREAS, the City wishes to support the application that Joseph Development LLC
is submitting to Minnesota Housing Finance Agency (MHFA) for Housing Tax Credits; and
WHEREAS, the City will work with Developer to secure Tax Increment Financing (TIF)
assistance from the City by creating a Housing TIF District upon the Developer’s securing an
allocation of Housing Tax Credits from MFHA for the Project; and,
WHEREAS, The City cannot create a Housing TIF District in support of the Project
until all statutory requirements have been fully satisfied, including the consideration of
comments from the pubic and affected government jurisdictions following a public hearing;
and.
WHEREAS, the success of the application is predicated on local support of the
proposal.
NOW, THEREFORE, BE IT RESOLVED by the City of Rochester Common Council
that the City of Rochester as follows:
1. The Rochester Common Council supports the application for the housing tax
credits for the construction of a 76-unit workforce housing project known as
Harvestview Place II subject to the project meeting the provisions of the
Harvestview II Special District.
2. The Rochester Common Council supports the Project subject to final
determination of project eligibility, required reviews, public input, notice and
hearing and without surrendering its legislative discretion.
3. The Rochester Common Council, upon MHFA’s approval of Housing Tax
Credits for the Project, authorizes City staff to continue to work on Tax
Increment Financing for the Project upon receipt of a TIF application and
corresponding fee from the Developer.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS DAY OF , 2018.
PRESIDENT OF SAID COMMON COUNCIL
ATTEST:
CITY CLERK
APPROVED THIS DAY OF , 2018.
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
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