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CITY OF ORONO <br /> <br />RESOLUTION NO. 7483 <br /> <br />RESOLUTION APPROVING THE PARTICIPATION OF THE HENNEPIN COUNTY <br />HOUSING AND REDEVELOPMENT AUTHORITY IN AN AFFORDABLE HOUSING <br />PROJECT <br /> <br /> <br />WHEREAS, the Hennepin County Housing and Redevelopment Authority (HCHRA) has <br />approved the use Homeownership Assistance Program loan for West Hennepin Affordable <br />Housing Land Trust (WHAHLT), dba Homes Within Reach. contingent upon the ORONO City <br />Council’s consent to the HCHRA’s participation in the project. <br /> <br />WHEREAS, The purchase of one of more homes to be acquired for the WHAHLT program, of <br />which one or more properties may be located within the city of ORONO and the rest within <br />suburban Hennepin County, will preserve the supply of affordable housing in the city by <br />providing long-term affordability. <br /> <br />WHEREAS, HCHRA from the HCHRA will complete the financing required for the project to <br />go forward. <br /> <br />BE IT RESOLVED that the participation of the Hennepin County Housing and Redevelopment <br />Authority in the project for the limited purpose of providing financial support to the project is <br />hereby approved. <br /> <br />BE IT FURTHER RESOLVED that nothing in this resolution shall create a pecuniary <br />obligation of the City to assist the project, nor shall the City be in any way responsible for any <br />financing obligation or agreement of the HCHRA with respect to its provision of financial <br />assistance to the project. <br /> <br />BE IT FURTHER RESOLVED that nothing in this resolution is intended to endorse the merits <br />of the Projects to be undertaken. <br /> <br />ADOPTED by the City Council of the City of ORONO this ___th day of _______, 2024. <br /> <br /> <br />___________________________ <br />DENNIS WALSH Mayor <br /> <br />ATTEST: <br /> <br /> <br />__________________________ <br />CHRISTINE LUSIAN, City Clerk <br />58