HomeMy WebLinkAboutResolution No. 258-17 - HarvestviewPlace.HousingTaxCreditProject
RESOLUTION
A RESOLUTION SUPPORTING A TAX CREDIT APPLICATION
FOR THE REHABILITATION OF A 60-UNIT WORKFORCE HOUSING PROJECT
TO BE KNOWN AS HARVESTVIEW PLACE
WHEREAS, Joseph Development has proposed to build a 60-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 MHFA 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 public 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 as
follows:
1. The Rochester Common Council supports the application for the housing tax credits
for the construction of a 60-unit workforce housing project known as Harvestview
Place subject to the project meeting the provisions of the Harvestview 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 _______________, 2017.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2017.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
Res15\\Support.TaxCreditJoDev4