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276852 WHITE - CITV CLERK � ���j�') PINK • - FINANCE ^ L i � � N CANAEY - DEVARTMENT G I TY \./ L' S� 1 1,�T �L� U L COU[1ClI BL�?[ - MAYOR File N O. �� At�y'S� - C cil Resolution , , � Presented By Referred To Committee: Date Out of Committee By Date RESOLUTION APPROVING SPECIAL LAW, � MINNESOTA LAWS 1981 CHAPTER 97 WHEREAS, Minnesota Laws 1981, Chapter 97 is an Act relating to the cities of St. Paul and biinneapolis; exempting a certain joint housing bonding program from the provisions of Minnesota Statutes, Section 462C.07, Subdivision 2; clarifying the application of Minnesota Statutes 1980, Section 462A.18, Subdivision 2; and WHEREAS, the Act (Section 3) requires local approval; and WHEREAS, the Act is in the best interests of the City of Saint Paul. NOW THEREFORE, BE IT RESOLVED by the Council of the City of Saint Paul that the Act (Minnesota Laws 1981, _Chapter 97) is hereby approved and the City Clerk is authorized and directed to provide evidence of this approval to the Secretary of State pursuant to Minnesota Statutes �645 .021, subd. 3 . Si'AT�OF MiNNESOTx DEPARTM�NT pr'�7ATE FtLED MAY 181981 �Q►��.�� �►,aE S�te COUNC[L;NEN Yeas Nays i Requestgd by Department of: Hunt � Levine In Favo[ Maddox d McMahon s�,o�ite� Against BY �ade�co �Ison ��, t'�►Y i � Form Approved Cit ,At Adopted by Council: Date � � �. Cert�fied asud by Coun Sec ry . B ` � �� ` �/� B}• �.�/1 � r -v�/ / �/ " � � 4 `��' Appro y Mayor for u ission to Council Apprc� c } Vlavor. t — B� - - - --�� _. BY - _ —. ------- -- WNITE - CITY CLERK ��6852 PINK - FINANCE TT COUt1C1I CANARY - DEPARTMENT G I TY OF SA I NT �A lJ L BLUE - MAYOR File N O. �� At,�y'� . C cil Resolution Presented By Referred To Committee: Date Out of Committee By Date RE50LUTION APPROVING SPECIAL LAW, MTNNESOTA LAWS 1981 CHAPTER 97 WHEREAS, Minnesota Laws 1981, Chapter 97 is an Act relating to the cities of St. Paul and riinneapolis; exempting a certain joint housing bonding program from the provisions of Minnesota Statutes, Section 462C.07, Subdivision 2; clarifying the application of Minnesota Statutes 1980, Section 462A.18, Subdivision 2; and WHEREAS, the Act (Section 3) requires local approval; and WHEREAS, the Act is in the best interests of the City of Saint Paul. NOW THEREFORE, BE IT RESOLVED by the Council of the City of Saint Paul that the Act (Minnesota Laws 1981, Chapter 97) is hereby approved and the City Clerk is authorized and directed to provide evidence of this approval to the Secretary of State pursuant to Minnesota Statutes �645.021, subd. 3. a COUNC[LMEN Yeas Nays Requestgd by Department of: Hunt Levine [n Favor Maddox _ / McMahon Q� Showalter __ Against BY �adesee wlson �Y � 4 �i Form Approved Cit t Adopted by Council: Date — - � ��-� Certified a_ - by Coun ' Sec ry B By� y ` Appro e y Mayor. t — � � 4 � Appro y Mayor for u ission to Council By _ BY PUBLI HED 31981 . , ��: a �� �s� . CERTIFICATE OF APPROVAL OF SPECIAL LAW . BY GOVERNING BODY , � �— (Pursuant to Minnesota Statutes, 645.02 and 645.021) � , . �s: STATE OF MINNESOTA - � �ti � _ . ;�t: �.�{ 2,.� .. r� , L T y� � � . a �I� � . . • ' {. � i L�i`' _, . ' � � County of - Ramsey , ,~N • '"+� ( TO THE SECRETARY OF STATE OF MINNESOTA: � i . , E PLEASE TAKE NOTICE, That the undersigned chief clerical officer of the � .'.... "' . . . .. _��M.'—Y � . . ` . - I City of Saint Paul '� M - . . ~ (nune of governmeatal unit) - .,m.r�,, �^�; �.�*�,T�+" s�^� . . • _::� ... .-� DOES HEREBY CERTIFY; ,that in compliance�with the provisions of i,ws, �19 81 � . Chapter .;. ..,;. .:- - -, �. : . _ _ _ _ ,.;Z„�' - , _-.,;: . , .,,. .,_ : .._ , , . � . 97 requiring approval by a " majority�.vote of the.governing body of said local governmental , ., . : ,_ - -: . _ - - a,�; ,. � unit before it becomes effective, the Council of the City of" Saint Paul - ; (aesignace governing boay) at a meeting duly held on the 14th day of �y , 19 81 , by resolution ! � Council File No. 276852 did approve said Laws, 19 81 , Chapter 97 ` (It other than resolution,spccify) , � , by a majority vote of all of the members thereof , � (Ayes 6 ; Noes � ; Absent or not voting 1 )� and the following additional steps, if any, required by statute or charter were taken: . � ' . Resolution to be published in the official paper of the City. - - • 1 A copy of the resolution is hereto annexed and made a part of this certiticate by reference. : . _ b-�_ ��, � : � r... � .rL � � $1$I1Cd. � SEAL . - , . � , - City Clerk T`•'w (O�cial designatioa of officer) . '- - - _ • . i ,, .' _. _ � � (This form prescribed by the Attorney General and furnished by - - E the Secretary of State as required int Minnesota Statutes 645.021) � ' • + � � - ; - � `��'� - � � � � . .�- • .:� .. -... . .- ... ,.... �Y. '"IJ extraordi�ary majority is required by the special law,� inse�t fraction or percen �h r . � � , . . . . _ STA'��F�I�OTA . - _ DSPARTMENT OF SYAT£ _ - � �� � FILE,D ' . . MAY 181981 ; . , ,� , - �,�✓ �ry o�sta�s � : ' ., , _� . . .. . � ..� '. ._ . .. . . . . �. . .. N .,�� � �{� ` (�` ,,,. ., _. � �� 1 �YJ � � . � � , � � � � � . ; i • - � 'r I . ' . ' . . ... . . � Y . . .. I , , ' . , . . • . , . . ' . � . � . �, , ' . � � . ' - . � � , . � � . � - . � . ,. . � .. . . . . ' . - ' . / it .. '. ., . . - . I . �� � . - . . . � . . � . . � . .1 . . /., ' �1 � . ' . . . . . ' .. . .. � , ' .. . . . , . . . . . . ` ._ .{-, � , 2�l�y iS� 1981 • , _ � I � � � . . . , . _� . , , � ' 3ecretarq of State'a Off i�e . ,� Room 18D, 3tat� Of f ica Bldg. �;_ . Jl 3t.� Paul, Mitmeseta 55�55 . ' D�sr"Nis,r Gx'v�e � _ _ , % �YEttached for fiYing in the of�ice of Secretasq of 'Stste ie a Certifi�ate " �Of Apprbval by the .City of St. Paeil for Chapter 97, Laws of Minnesota fos ' � ' �1981 as appr,uved bq C.F. No. 276852, adapted I�IaY f4, .198I. ; Will yau p3ea� -' � ttme stamp a copy of thls letter and return it to the City Clark's of�ic� , `' `� st 386 City Aal]., St. Pau2, Minnesota. 55102� , � � �', _ <� , __ , ?��r�► tltll �O}3Y8� - , . , �<, .� - ,•'� . k:.�,. ' ' . �! �-`��- . • - Albert B. Olson � Citq Clark - Atta�h. T ABO/ech ' . . \a _ . � , . - _ ' , � _ • f ' - �� . _ � ` , � �. . � � '. . ` �� . , ` � �� o°? �7�g`5o`� • �� :�� CITY OF SAINT PAUL �,_�'�;°�. .•` �." OFFICE OF THE CITY CLERK � ���urnm .. ; ���� ��'1'� ^� BUREAU OF RECORDS , . - = 386 City Hall, Saint Paul, Minnesota 55102 ,..•c�.� �amw.., 612-298-4231 GEORGE LATIMER M�YOR May 15, 1981 Secretary of State�s Office Room 180, State Office Bldg. St. Paul, Minnesota 55155 Dear Ms. Growe Attached for filing in the office of Secretary_ of State is a Certificate of Approval hy the City af St. Paul -for Chapter 97, Laws of 'Minnesota for � 1981 �s approved by:C.F. No. 276852, adopted May 14, 1981. Will you please time stamp a copy of this letter and return it to the City Clerk's office � at 386 City Hall, St. Paul, Minnesota, 55102. ery truly yours, _ �� '' !=-� :��--_ .Albert B. Olson City Clerk AttaGh. ABO/sch BTATE 0�MfNNESOTA , DEPARTd1ENT OF STATE FILED I MAY 181981 ', ���, I ZK;tet�l,ct State_ i � ���' 7� / McKNIGH`1' HOUSING BOND PROGRAM �`����� The Minneap�lis/St. Paul Family Housing Fund was established in the Spring of 1980 under the auspices of a $15 million commitment from the McKnight Foundation to the cities of Minneapolis and St. Paul. The purpose of the Minneapolis/St. Paul Family Housing Fund is to assist in providing low and moderate income housing opportunities for families in both of the central cities. � The $15 million from the McKnight Foundation is comprised � of $5 million in grant funds and $10 million in program related investments. The program envisions a focus on the construction of new housing in both cities over a 5-year period. A total of 3200 housing units is the stated goal of the effort. In the Summer of 1980, Mr. Tom Fulton was hired as the executive director of the Family Housing Fund. The first program ir�iti�.ted under the auspices of the McKnight Foundation grant was a housing mortgage revenue bond issue. Representatives from the cities of St. Paul and Minneapolis have worked closely with the Minneapolis/St. Paul Housing Fund to assure a bond program whose purpose is the construction of for-sale housing for families in both cities. The program was originally pro- posed at a size of .$250 million. Belaw market rate interest home loans will be provided to eligible borrowers who could purchase homes canstructed by developers selected as participants by the. program administrators. What this would mean is that both cities would experience substantial new housing investment in the form of townhouses, condominiums, and small scatter sites single family homes. The vast majority of the housing units provided to the program would be designated specifically for low and moderate income families. Only a limited number (at r.iaximum 20�) would be constructed for families in redevelopment areas without regard to income limits. The cities of St. Paul and Minneapolis joined last summer in an application to the Department of Housing and Urban Development Action Grant. In September of 1980 , a $5. 8 million UDAG was awarded to the cities of Minneapolis and St. Paul. This is the first application ever awarded jointly to two cities under the auspices of this program. In addition to this UDAG grant, the resources of the McKnight Foundation (funneled through the Minneapolis/St. Paul Family Housing Fund) and the resources of various union pension funds in the Twin Cities area have been designated to match the UDAG assistance. McKnight Housing Bond Program -2- A major stumbling block to the completion of this innovative program was the congressional legislation limiting the ability of cities to issue housing. mortgage revenue bonds. The well-known Ullman bill provided 'a major uncertainty to both cities bei�g able to proceed with the program. In the closing days o£ the 1980 Congress, the housing revenue bond legislation that was adopted provided for a specific exclusion in ths amount of $235 million for the cities of Pzinneapolis and St. Paul for this joint issue. This congressional actioii was based on the premise that it was sound public policy to permit an exclusion of a program of this nature simply because of the public purpose involved and the planning that had been undertaken prior to the passage of the act. St. Paul is asking that the State Legislature similarly recognize the benefits the program will provide the Twin Cities area. The final stumbling block to completion of the program is the per capita limitation established in state law. This per capita amount limits the City of St. Paul from issuing additional housing mortgage revenue bonds. In order to implement the proposed $235 million McKnight program, the City would need to have one-half of that amount ($117.5 million) available. Without this proposed exemption, St. Paul would be unable to carry out its half of the program. This is the only exception to 462C being requested � for this program. Both cities have submitted and received the approval of the Minnesota Housing Finance Agency for this program. The City of St. Paul is requesting special legislation in the 1981 legislative session in order to overcome these se��ere constraints. The City believes that the McKnight housing program has sufficient merit to warrant this special treatment. The primary merit is the significant impact that the program will have on the production of low and moderate income housing for families in both cities. Since this is an overwhelming need which cities will not be able to accomplish without this state legislation, the City feels tha� this special legislation should receive expedited treat- ment tHis session. 3/23/81 � � �l��' � �� ... � � � `'' � J � �e, r ( �� ( � 7 H.F. !:o. 3�7 ,, C�-IAP I'LIt �To. �1. � ���� . � � � 1 � relating to the cities of St. Paul and Idinneapolis; 3 exempting a certai.n joint housing bonding program €rom 4 the provisions of Minnesota Statutes, Section 462C. 07, S Subdivision 2 ; clarifyiny the application of Minnesota 6 Statutes 1980, Section 462A. 18, Subdivision 2 . 7 � Bti IT ENRCTED SY THE LEGISLATURE OF THE STATE OF MINNESOTA: 9 Section 1 . [ ST. PAUL, CITY OF; MINNEAPOLIS, CITY OF; JOINT 1C FP.AIILY H�USING �ROGR.AI�1. J li Subdivision 1 . The cities of. St. Paul: and Minneapolis mzy 12 issue, jointly or separately, housing revenue bondswpursuant to ------------------..___-------..______..__---______--------------- 13 f�linrresota Sta�utes, Chapter 462C, to £inance the joint housing 1� program specificall.y exempted from the provisions'of sections' ----------..----__.._______________.._..______________----------- 15 1102 and 1103 of the Mortgage Subsidy Bond Tax Act o£ 1980. The 16 bond issues, in an aggregate amount not to exceedw$235, 000, 000, � ------------ 17 shall not be included in the computation made pursuant to. ---------------------------------------------.._-------..-- 18 Minnesota Statutes, Section 462C. 07, Subdivis�on 2, o£ the -----------------------------------------.._..___--------___ 1° aggregate principal amount of revenue bonds or o�her obliqations -----�----------------------------------------____-------____----_--_ 2.0 issued by the cities of St. Paul and P�iinneapolis . ---------------------------------------.._________ 21 Subd. 2 . No more than 20 percent of the aggregate amount ------------------------------------..-------__________--- 22 0£ all loans for single and r�ultifamily housing provided in each ---------------------------------------..--------___________--___ 23 city, pursuant to the program described in section 1, shall be ---------------------------------------------------____-------__ 24 made without regard to the incone limits established in --------�-------------------------------------�------_-_ �5 i���nnesota 5tatutes, Section 462C. 03 , Subdivision 2 . ------------------------------------------------_____ 25 Sec . 2 . ( APPLICABILITY Oc SECTION 462A. 18 . J • , . � t , ' � Li . 1� lv:J . . ,,� 6�--� � � In th� application of the provisioris of Minnesota Statutes -- ----------------------------------------__-__------- 2 1:80, Section 462A. 18, Subdivision 2 , to the housing programs ----------------------------------------------- 3 finaiZCed by the issua,�ce of bonds authorized by section 1 0£ -- --------------..-------___-------------�_________________.. 4 this act, the dLities of the state treasurer shall be performed S by the comptroller-treasurer of the city of`?�linneapolis and the - ------------------------------------_-___--------____ 6 director of the Department of Finance and i�lanageme�t Services of - ------------------------------------------------------ 7 tne city of S�. Paul . 8 Sec . 3 . jEFFECTIVE DATr. . ] 9 This act shall become effective as to each city the day --------------------------------------------_--_--____----- i0 after comt�liance by the governing body of each city with the 1 � orovisions o� ?+linnesota Statutes, Sect�.on 645 021, `Subdivision 3 . ----------------------------------------------------------------- 2 �.3'� g� � �--� � I-I. F. Nu. 3 y 7 /�� / ! . � � � , . . -. . . . /t/._ ( ,-.//_ 1•" � _ � . --�-- -�_ -- c—� I-�arry A. Si cii, Jr. S(�c«1�c•r•U�lirc Ilur:�c u/I:cprescru�rtiuc,. - - _ . ,:c:�'�� _ _ j1C� 1�1V1C:5 - , President o/�ht Sennt�. _ 1':�:sr�l thr Huusc oE l:e��resrntativrs [I115 2 9t h �la}' oE A�;ri 1 iii the year of Our Lur�l ��;;r tl�uus:in�i ni►le hunclrc�l ancl ei?htV-one . . �7 /L�'.-t'�(1-U�i4G� �G1�Cti!-t� Edward A. �iurdick Chief Cle,•I�,Hocisc of Reyresentativcs. !'.u,c�l tlic Scn:itc tl�is 2BLY� clay uE !Iprii in tl�c year oE Our Lorcl onc tl�uusand i�inc I�w��lrccl :ulcl �i.�thty-oric� . � Patrick L'. Flahavcn ~- � � Secrclary o/thc Senatc. .1E,�,ruvccl' ' � f � ��.\ . ,� __ ; ��;', � �.��-�-�-�l �� � �-� -, ; <__, � � - i ,` - ' Albcrt H. �uie � � �� Gover•nor o/!he Sta[e uf�I�linncsuc�r. � . � t�ilr�l - � .- ��--� , / ,� �.� ���� . joan Anderson Gro�ve Secrelrrry o�S1urc. -, _)