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HomeMy WebLinkAboutResolution No. 119-25 - Resolution - Greater Minnesota Housing Infrastructure Grant Program RESOLUTION Adopting a Resolution authorizing the City's support and sponsorship of an application to Minnesota Housing's Greater Minnesota Housing Infrastructure Grant Program to support the extension of 55th Street NW from 60th Avenue NW to the west to provide required secondary access to the Pebble Creek Sixth subdivision, resulting in 454 residential lots. WHEREAS, Minnesota Housing has provided a Greater Minnesota Housing Infrastructure Grant Program to cover up to 50% of capital costs related to physical public infrastructure necessary to support a qualifying housing development; and WHEREAS, The project at Pebble Creek Sixth, for the subdivision of 185 acres into 454 residential lots and 12 outlots has been submitted to the City for review. The site is located north of Behrens Ln NW and west of 60th Ave NW; and WHEREAS, The project will require extension of 55th Street NW from 60th Avenue NW to the west to provide required secondary access for the development. This street extension project is included in the Council approved 2024-2029 Capital Improvement Project budget, with an anticipated cost of this extension is $1,220,000; and WHEREAS, The City will submit a grant application of $500,000 for this work; and WHEREAS, Pebble Creek Sixth will provide at least 250 of for-sale homes which are valued at a price which is Affordable to the Local Workforce. Homes would be priced at or below $426,100, which has been calculated to be the ceiling in which a household earning 115% of the Area Median Income could afford. NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Rochester, MN that the City adopt a Resolution authorizing the City's support and sponsorship of an application to Minnesota Housing's Greater Minnesota Housing Infrastructure Grant Program to support the extension of 55th Street NW from 60th Avenue NW to the west to provide required secondary access to the Pebble Creek Sixth subdivision, resulting in 454 residential lots. PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2025. ___________________________________ PRESIDENT OF SAID COMMON COUNCIL ATTEST: __________________________ CITY CLERK APPROVED THIS _____ DAY OF ______________________, 2025. ___________________________________ MAYOR OF SAID CITY (Seal of the City of Rochester, Minnesota)