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274515 WH17E - CI TY CLERK �4515 PINK - FINANCE GITY OF SAINT PAUL Council CANARV - OEPART'IENT * BL�UE,.�-MAVflR �s File NO. Ck�AttrlyfaT'II�� O/ f�liZ/L�Z/LCG Ordinance N O. �lU�D'1.� � Presented By Referred To Committee: Date Out of Committee By Date An Administrative Ordinance adopted pursuant to Minnesota Statutes, Chapter 462C and Chapter 260 , Laws of Minnesota for 1975, amending the Saint Paul Administrative Code, Chapter 72 - Housing and Rehabilitation Finance Programs THE COUNCIL OF THE CITY OF SAINT PAUL DOES ORDAIN: SECTION l. Section 72.01 of Chapter 72 of the Administrative Code is hereby amended by deleting that section in its entirety and substituting in lieu thereof the following: 72.01 General. The Minnesota State Legislature has authorized t�Te ty of Saint Paul to develop and administer a housing plan and programs to finance within the corporate - imi s o e City and has declared such a housing plan and program as constituting a public purpose. T e ' a e Legislature has determined, and the council of the City of Saint Paul does hereby find and determine, (a3 that there are many housing units in the city that do not meet the applicable housing codes , some of which need to be destroyed and some of which can be rehabilitated; (b) that a need exists to replace housing which is destroyed or demolished; (c) th at a need e�sts for mortgage credit to be made available for new construction; (d) that refinancing existing mortgages will allow owners of housing units which need rehabilitation to take advantage of existing rehabilitation programs; and (e) that many owners, would-be purchasers or providers of housing units are either unable to afford COUNCILMEIV Requested by Department� Yeas Nays � Butler �= � Hozza [n Favor � Hunt Levine A gai nst BY Maddox Showalter Tedesco Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY By Approved by Mayor: Date Approved by Mayor for Submission to Council By By WHITE - CITV CIERK ��45�5 PINK - FINANCE GITY OF SAINT PAUL Council CANARV - DEPARTMENT �- Q,LU[ �. - MAVOR, File N 0. � _ � Ordindnce Ordinance N�. �l1�LV�J Presented By Referred To Committee: Date Out of Committee By Date 2. mortgage credit at the market rate of interest or obtain mortgage credit because the mortgage credit market is severely restricted. Section 72.02 of Chapter 72 of the Administrative Code is hereby amended by deleting that section in its entirety and substituting in lieu thereof the following: 72.02 Mayor to develop program. To achieve the purposes, o �ectives an goa s set forth above in Section 1, the mayor shall develop and administer a housing plan and a program or programs to finance housing cons ruc ion an� rehabilitation in conformance with the requirements set forth in Chapter 260, Laws of Minnesota for 1975, Minnesota Statutes, Chapter 462C, and the regulations promu qa��d y is council. The mayor shall develop the city's housing finance program in such a manner that it will complement the existing City Housing Rehabilitation Loan and Grant Program adopted by Resolution C.F. 264630 � and Ordinance No. 15751, and amendments to such Resolution and Ordinance. The city's housing finance program may include funds from all available federal, state, regional and local sources, both private and public. In developing and administering the plan and these programs, the mayor shall coordinate su programs a nistered by the federal, state, regional and local agencies to the end that the city may achieve the optimum of benefit from all such programs and the provision of adequate, safe and healthful housing for the inhabitants of the City of Saint Paul. COUIVCILMEN Requested by Department of_^ Yeas Nays ' �, l ✓ HoZIZa [n Favor � Hunt Levine A gains t BY Maddox Showalter Tedesco Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY By Approved by Mayor: Date Approved by Mayor for Submission to Council By By WHiTE - CITV CIERK t " PINK - FINANCE COIlI1C11 � B�..UBR�v- MA.VORTMENT ' GITY OF SAINT PALTL File NO. ��s.�l�� . � 0rdindnce Ordinance N�. ��`TS Presented By Referred To Committee: Date Out of Committee By Date 3. Section 72.04 of Chapter 72 of the Administrative Code is hereby amended by deleting that section in its entirety and substituting in lieu thereof the following: 72.04 Use of other agencies; bonds. Subject to the approval of the city council, e mayor may employ the services of the Housing and Redevelopment Authority of the City of Saint Paul (the "HRA") , the Port Authority of the City of Saint Paul (the "Port Au ority an or e Minnesota Housing Finance Agency for the purpose of aiding in the implementation of the city's housing finance programs to the extent permitted by law. The HRA and the Port Authority are hereby designated to exere se on e alf o t e ity, e powers con erre y Minnesota tatu es , Sections C. roug C. ; provi e owever, at e HRA an e Port Au ority s a not caxry out an speci ic proqrams un ess irecte an au orize to o so y a resolution adopted y t e city counci�. If the HRA or e Port Au ority is so emp oyed, t en the HRA or the Port Aut ority may e authorized by the mayor to exere se any an a o the powers which the Minnesota Housing Agency is authorized to exercise under the provisions of Minnesota Statutes 462A in the making or purchase of loans and securities in furtherance of the programs . Revenue bonds or other obligations issued by the city of Saint Paul shall first be authorized and approved by the city council and issued in accordance with the terms and , provisions, including: Minnesota Statutes , Cha ter 462C; Chapter 881, Laws for 196 , as amen e ; C apter , Laws for 1974 , as amended; and Chapter 260, Laws for 1975. COUIVCILMEIV Requested b Departme of: Yeas Nays Butler In Favor Hozza Hunt Levine Against BY Maddox Showalter Tedesco Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY By Approved by Mayor: Date Approved by Mayar for Submission to Council By By WHITE — CITV CLERK �� PINK — FINANCE GITY OF SAINT PAU�L Council CANAfiV —DEPARTMENT. ' `, a BI.UE ' ��.AAVOR . 0 File N 0. � � � - �� Ordin�nce Ordinance N 0. 1�.(1�� Presented By Referred To Committee: Date Out of Committee By Date 4. Section 72.05 of Chapter 72 of the Administrative Code is hereby amended by deleting that section in its entirety and substituting in lieu thereof the following: 72.05 Definitions. For the purposes of this ordinance anc ousin plans or programs adopted pursuant hereto, and un ess ot erwise herein provided, all terms and phrases used shall possess the definitions and meanings ascribed to them in the City's Housing Rehabilitation Loan and Grant Programs established by Resolution C.F. 264630, and Ordinance No. 15751 (Chapter 72 , Administrative Code) or in Minnesota Statutes, Chapter 462C, as appropriate . Section 72.06 of Chapter 72 of the Administrative Code is hereby amended by deleting that section in its entirety and substituting in lieu thereof the following: 72.06 Loans, conditions. All loans made by or on behalf of t e city s a comply wit t e terms of app ic e aw an ousing p ans, an e s eci ic program pursuan o w ic e oan is ma e. o e ex en required by law, all oans made y or on e a f of the city s a e ma e on y w enit is irst etermined that financing is not otherwise available from private lenders upon terms and conditions which are affordable by the applicant. Following receipt of loan applications, the city shall make a determination whether mortgage credit for that type of housing is available from private lenders under such terms and condi tions which will permit the borrower to rent the housing units at a rate which the market will be able and willing to pay; or in the case of COU[�1CILMEIV Requested by Department of: Yeas Nays Butler Hozza In Favor Hunt Levine Against BY Maddox Showalter Tedesco Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY By , Approved by Mayor: Date Approved by Mayor for Submission to Council By By WHITE - CITV CLERK 1 �� PINK - FINANCE COUI1C11 CANARV - DEPARTMENT, ' CITY OF SAINT PAUL File NO. BL,UE. � `MAV,OR � � Ordin�nce Ordinance N0. �� Presented By Referred To Committee: Date Out of Committee By Date 5. a single family home, shall determine that the monthly principal and interest payments will be affordable by the applicant. In the event that the city shall provide the housing finance assistance , the borrower shall be required to repay the principal amount of the mortgage, together with interest at a rate that will be at least equal to the interest, rate which the city is required to pay on its bonds or other obligations. In establishing mortgage repayments, the mayor shall ensure that the revenues received by the city are '�sufficient to retire the principal and interest on bonds issued to finance the programs and also to provide for the costs of administering the mortgages. Section 72.08 of Chapter 72 of the Administrative Code is hereby amended by deleting that section in its entirety and substituting in lieu thereof the following: 72.08 Permitted uses of funds. Programs established by the mayor may provi e mortgage or loan financing for new construction of single family oufi s ng, multi�.�le family housing townhouses, condominiums and apartments. The programs may also provide for refinancing of existing mortgages so th at owners of housing units needing rehabilitation may then take advantage of rehabilitation programs administered by the city or other agencies. The programs may also provide for extension of financing for rehabilitation of existing housing�units. Financing may be provided to the Housing and Redevelopment Authority of the City of Saint Paul to be used by the HRA to construct housing on property owned by the HRA for the purpose of COU[VCILMEIV Requested by Department of: Yeas Nays Butler In Favor — Hozza Hunt Levine A gai ns t BY Maddox Showalter Tedesco Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY By Approved by Mayor: Date Approved by Mayor for Submission to Council By By WHITE — CITV CLERK 1 •r '�� PINK — FINANCE CO11flC11 �jj j CANARV — DEPARTMENT, ' GITY OF SAINT PALTL File NO. BµIE.� �.b1AVAR � . � � • / ��r � Ordindnce Ordinance N�. ��S1lD�C� Presented By Referred To Committee: Date Out of Committee By Date 6. rehabilitating existing housing owned by the HRA or the city. Program funds may be used to finance acquisition of land for housing and for construction of housing to the extent provided in the housing plan or program guidelines adopted by the counci or e mayor. Proceeds received from the issuance o general obligation bonds and proceeds from the city's general fund, including rea� e�tate taxes, sha11 be used solely to provide housing finance assistance for occupancy primarily by per`sons of low and moderate ineome. When such general obligation or general fund proceeds are to be used to finance construction or rehabilitation of multiple housing units � at least 60� of housing units shall be occupied by persons of low and �derate income. _ Section 72.09 of Chapter 72 of the Administrative Code is hereby amended by deleting that section in its entirety and substituting in lieu thereof the following: 72.09 Mortgages; liens. The mayor may provide temporary construction inancing and permanent financing upon �atisfactory completion of the housing. In all cases of housing finance assistance, the mayor ma.y obtain a mortgage lien upon the land and improvements. In the making of housing loans, the mayor shall attempt to obtain FHA or VA insured mortgages, or private mortgage or lo�n insurance, wherever possible. All loans made by the city s a comply with all applicable federal and state laws and regulations pertaining thereto, including interest rate limitati.ons and credit disclosure requirements. COUNCILMEIV Requested by Department of: Yeas Nays Butler In Favor — Hozza Hunt Levine Against BY Maddox Showalter Tedesco Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY By Approved by Mayor: Date Approved by Mayor for Submission to Council By By riHITE — CITV CIERK 1 PINK — FINANCE COUIICIl �� CANARY — DEPARTMENT • GITY OF SAINT PAUL �� 94UE��.r jd.AVOR, ' File �O. . � ` . � Ordin�nce Ordinance N 0. j�O� -!� Presented By Referred To Committee: Date Out of Committee By Date 7. Section 72.10 of Chapter 72 of the Administrative Code is hereby amended by deleting that section in its entirety and substituing in lieu thereof the following: 72.10 Bond roceeds; separate funds. The proe��dffi from the sale o general o igation onds and from revenue bonds issued for the programs authorized by this ordinance shall each be placed in a separate fund; monies placed in these two funds may be transferred or disbursed to which will combine these sources with other sources to accomplish the city's Housing and Rehabilitation Finance Programs; and housing finance loans and mortgage credit may be made from this combined fund. The general obligation bonds issued under this ordinance may be retired in accordance with the city's normal funding process for general obligation bonds. Revenue bonds or revenue obligations issued for these programs shall be retired solely from all of the revenue sources of the programs authorized by Minnesota Statutes, Chapters 462A and 462C and Chapter 260, Laws of , as e ine an p e ged to their repayment and their respective bond resolutions; and a separate sinking fund shall be established for the accounting of the revenues and the retirement of these revenue bonds. COUIVCILMEN Requested by Department of: Yeas Nays Butler In Favor — Hozza Hunt I,evine Against BY Maddox Showalter Tedesco Form Approved by City Attorney Adopted by Council: Date Certified Passed by Council Secretary BY By Approved by Mayor: Date Approved by Mayor for Submission to Council By By �� ' �� .,..,.,,,,-„�;�:. �� .�� ,,�°'��TY oF�.;,; CITY OF SAINT PAUL =;�� ;,��,,, ,�; �'"" �'-; OFFICE OF THE CITY ATTORNEY `;� 1l�IIi1�I1 �" < ,, EDWARD P. STARR, CITY ATTORNEY ,,,. , 647 City Hall, Saint Pdul,Minnesota 55102 "°, 612-298-5121 GEORGE LATIMER MAYOR March 4, 1980 To: City ouncilmembers From: �'j im a t, Assistant City Attorney Re: Housing and Rehabilitation Finance Program Ordinance Amendments The enactment of Chapter 462C, Minnesota Statutes, xegulating the planning and implementation of single and multi-family housing f inance programs by municipalities requires a number of conforming amendments to the Housing and Rehabilitation Finance Program Ordinance found at Chapter 72, Saint Paul Administrative Code, set forth in the enclosed draft Ordinance. The ordinance amendments - 1. Incorporate the term "Housing Plan" or �Plan" and the xeference to Chaptex 462C in Sections 72.01, 72. 02, 72. 04, 72. 05, 72. 08 and 72.10; 2. Designate the Port Authority as well as the Housing and Redevelopment Authority to act on behalf of the Gity subject to City Council approval of each specific program to be implemented by either of these Authorities. Section 72. 04; and 3. Contain housekeeping language relating to program mortgage loans. Sections 72.06 and 72. 09. Consideration and adoption of this Ordinance would be on going during the period of Metropolitan Council review of the City of Saint Paul 462C Housing Plan and MHFA finance program reviews becoming effective timely for program implementation. Enc. �i0 �� 1 s t �l �l� -2nd � ____7 3rd �/ /� Adopted � —�� D� _ �r � _� v t�� 'ays Yeas �, �� i�� HOZZA ��/r� .� � t HUNT �'� '`�" x LEVINE � / ��v � MADDOX �� M cr'IAHON TIDESCO PRESIDENT (SHOWALTIIt) �