RES 19-15Y4:.. -L City of Elk River
City Council
ver
Resolution 19-_U_
A Resolution of the City Council of the City of Elk River Supporting the Tax
Credit Application for Proposed CommonBond Multiple Family Housing
Project and Recognizing that the Project Would Help Meet Identified
Housing Needs
WHEREAS, the City of Elk River is a municipal corporation and political subdivision duly
organized and existing under the constitution and laws of the State of Minnesota; and
WHEREAS, the City of Elk River completed a housing study in 2018 and affordable
housing is identified as a community need; and
WHEREAS, CommonBond Communities has submitted a conceptual review application
to construct 60 units of multiple -family rental housing (the ,Project,) on Lot 1, Block 1,
ELK RIDGE CENTER SECOND ADDITION; and
WHEREAS, CommonBond Communities will be submitting a Low Income Housing Tax
Credit application to the Minnesota Housing Finance Agency in June of 2019 for the
Project; and
WHEREAS, the Project would help meet the locally identified housing needs of the City
of Elk River in that affordable housing is in short supply in the local housing market; and
WHEREAS, adoption of this resolution does not constitute land use approval of the
project in that CommonBond Communities must apply for several separate land use
approvals for the Project which must be processed as required by state law and city
ordinance and heard in public hearing before the City Council will have the information
necessary to decide whether to approve the Project.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: The Project will meet an identified need to provide additional
affordable housing needs in the community.
Passed and adopted this 20`h day of May 2019.
ATT
Tina A ard, City Clerk
Jo i-Ejietz, or
POW EA EI IY
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