HomeMy WebLinkAboutResolution No. 084-19 - Support for Century Heights Housing Tax Credit Project
A RESOLUTION SUPPORTING A TAX CREDIT APPLICATION
FOR A 76-UNIT WORKFORCE HOUSING PROJECT
TO BE KNOWN AS CENTURY HEIGHTS
WHEREAS, Joseph Development LLC has proposed to build a 76-unit workforce housing
project in the City of Rochester; and,
WHEREAS, the Property in which the project is proposed is currently petitioned to be annexed into
the City. Upon a successful annexation, development of the property will be subject to the City’s
Zoning Ordinance and Land Development Manual; 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
Century Heights subject to annexation and the project meeting the provisions of
the City of Rochester Land Development Manual and Zoning Ordinance.
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 _______________, 2019.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2019.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)