HomeMy WebLinkAbout6.r.Approval of Letter of Support for Hope Fund ApplicationAGENDA ITEM: Approval of Letter of Support for Hope
Fund Application
AGENDA SECTION:
Consent
PREPARED BY: Kim Lindquist, Community Development
Director
AGE
ATTACHMENTS: Draft Letter
APPROVED BY: r
RECOMMENDED ACTION: Motion to approve draft Letter
4 ROSEMOUNT
CITY COUNCIL
City Council Regular Meeting February 21, 2006
EXECUTIVE SUMMARY
ISSUE
The City has received a request from Property Solutions and Services, who is the property manager for
Rosemount Greens, located at 3810 145` Street West, to support their HOPE Fund application. The
apphcauon is to receive monies through the CDA HOPE Fund which allows rehabilitation of affordable
rental housing m the County. The request is for a grant of approximately $500,000 to be used toward new
roofs, siding, windows, kitchen updates and new furnaces The total construction budget for the project is
approximately $1 8 million. The company is also requesting funds from the Minnesota Housing Finance
Authority (MHFA).
RECOMMENDATION
Property Solutions and Services is requesting a letter of support for their HOPE Fund application. A draft
letter is provided for the Council's approval
February 22, 2006
Andrea Brennan, Housing Finance Coordinator
Dakota County Community Development Agency
1228 Town Centre Drive
Eagan, MN 55123
Dear Ms Brennan,
On behalf of the City Council of Rosemount, I am writing this letter in support of a grant
apphcation made by Property Solutions and Services for HOPE Funds The apphcation is
for rehabilitation of existing affordable housing units within the City.
One of the City Council goals is to provide life -cycle housing for its residents. The provision
of well- maintained affordable rental housing within the community comphes with this goal.
The rehabilitation work proposed is needed and necessary to ensure the viability of the
project and the surrounding neighborhood
If you have any questions, please contact Kim Lindquist, Community Development Director
at 651- 322 -2020.
Sincerely,
Bill Droste
Mayor