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CITY OF ORONO <br /> RESOLUTION NO. 7483 <br /> RESOLUTION APPROVING THE PARTICIPATION OF THE HENNEPIN COUNTY <br /> HOUSING AND REDEVELOPMENT AUTHORITY IN AN AFFORDABLE HOUSING <br /> PROJECT <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 /> 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 /> WHEREAS, HCHRA from the HCHRA will complete the financing required for the project to <br /> go forward. <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 /> 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 /> BE IT FURTHER RESOLVED that nothing in this resolution is intended to endorse the merits <br /> of the Projects to be undertaken. II,-, ' <br /> ADOPTED by the City Council of the City of ORONO this7O th day of AltaI Ci, 2024. <br /> DENNIS WALSH Mayor <br /> ATTEST: <br /> CHRI L SIAN, City Clerk <br />