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273823 WHITE - CITV CLERK 1 B�UE -MAVOR E TY SAINT PATTL - File NO. � �- CANARV -DEPARTMEN COUIICII ��\"��.�'1 7 4 ► O � �^ � � Zn nCe Ordinance N O. ��fJ��� � Presented By Referred To Committee: Date Out of Committee By Date AN ADMINISTRATIVE ORDINANCE, CITY OF ST. PAUL, HOUSING AND REHABILITATION FINANCE PROGRAM. THE COUNCIL OF THE CITY OF SAINT PAUL DOES ORDAIN: Section l. Section 3 of Ordinance Number 15975 (as amended by Ordinance No. 16504) is hereby amended by deleting that Section in its entirety and substituting in lieu thereof the following: In the administration of the City' s housing finance programs, the mayor shall endeavor to make use of existing lending institutions and staff, from the private and the government sector. The mayor may employ all such necessary staff, contract with public or private institutions or persons and obtain materials, supplies, equipment and office space as is in the judgment of the mayor necessary for the administration of the programs and within the funding appropriations approved by the City Council. Section 2 . Section 4 of Ordinance Number 15975 (as amended by Ordinance No. 16504) is hereby amended by deleting that Section in its entirety and substituting in lieu thereof the following: Subject to the approval of the City Council, the Mayor may employ the services of the 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. To COUIVCILMEIV Requested by Department of: Yeas Nays Butler [n Favor — Hozza Hunt L,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 . , �'=� ��� �J , t � lf��� the extent permitted ��aw, the biay�or�may designate the I3ousing and Redevelopment Authority of the City of St. Paul (the "HRA") , an behalf of the City,_ or in con�unction with the City, to implement an�of the City' s housinq finance proqrams, and to issue xevenue bonds tr�erefor. If the HRA is so desi qnated� it is hereby au— thor ed to exercise any and all of the powers cahich the Piinnesota Housing Finance Agency is authorized to exercise under the provisions af P�linnesota Statutes, Chapter 462A, in the making or purchase of loans and securities, in further,ance of the programs , and in the issuance of revenue bonds or obligations pursuan��o Cha�ter 260, Section 3, Laws for 1975. In the alternative, if the HRA is not so designated, the City may exercise, within the corporate limits of tne City, all such powers. Revenue bonds or o ther obligations issued b� the City of St. Paul or the HRA, or bothr sha11 first be authori�zed and approved by the Ci.ty Council or the HRA, or both, as appropriate, and shaZl be issued in accordance with the terms and prov�.s�ons of applicable law or Charter provisions, including Chapter 881, Laws for 1963, a� ar.iended; Chapter 351, Laws for 1975, as amended; and Chapter 260 , Lacas tor 1975; and for such purpose, the City Council, or the HRA, or both, may exercise, within tne corporate limits of the City, any an all of the powers whi_ch the �linnesota Housing Finance Agency is authori::ed to exercise under �the prav�.sians of Minnesota Statutes, Chapter 4F2A. � Sectiozi 3. Section 6 of Ordinance Number 15975 (as am�nded by Grdinance No. 16504) is hereby amended by deleting that Secticn in its entiretv and substitutinc,� in lieu thereof the following: Al1 loans issuea by the City shall be made only when :i.t is firs�� determined that similar financing is not otherwise available upon equivalent terms and conditions from private lenders or, with respect to each loan a?�plicant, upon terrns and conditions which are affordable by the applicant. For sucn latter purpose, following receipt of loan applications a determination — shall be madA by the City or on the City' s behalf that loan credit ;ur z�at t��: �f. h�u�.in, �� r_c�t a.vail�b?e f.rom nrivatc� lenclers under terms and conditior.s which wi1T �ermit th� borrower to rent, rehabi?_itate �-r acc.yu�re the houaing uY�zts at a rate which the r.iarket will be able ana willing to pay or which is affordak.�lc by the ap�licant; or, in the case of owner-occupied housing� that the monthly principal�and interest payments will not be affordable by the ap�licant based on such criteria as are deemed appropriate for the particular program. Owner-occupied housing shall be priva�e detached or attachad owner-occu�ied one, two, three or four-fam�l.y dwelling unit, a townhouse d�eelling, or a dwelling unit under condominium ownership (but not including a mobile home or trailer) occupis�d or to be occupied by but one family alone, containi.ng complete living facilities and facilities functionally related and subordinate the.reto, and located within the geographic boundaries cf the Cit�. In the event that the City shall prvvi�.� housin�financ� assistance, the borrower shall be required to re�iay the princi�al amount of the loan, together with inter�st� at a rate . �� ���� . �� • r�� � that wi11 be at leas� equal to the interest rate which the City is required to pay on its bonds or other obligations. In establishing loan repayments, the mayor shall endeavor to ensure that the revenues received by the Gity wi_lI be sufficient to retire the principal and interest on bonc�s issued to finance the programs and also to pr�vide for the costs of administering the loan. � 5ection 4 . Section 8 of Ordinance Number 15975 (as am�nded by Ordinance No. 16504) is hereby amencle� by deleting that Section in its entirety and substituting in lieu thereo� the following: Frograms established by the mayor may prova.de loan financing for new construction, acguisition and rehabilitation, or acquisition of single fami.ly housing, multiple family housing, townhouses, condominiums and apartments. The programs may also provide for refinancing of existing indebtedness so that owners of hausing units needing rehabilitation rnay then take advantage of ex�.sting rehabilitation programs adr.iinistered by the City or other agencies. The programs may also nrovide for extension of financing for rehabilitation of existinc� housing units. Financing may �e . provided to the Housing and Redevelo�Ment Authority of �he City of Saint Paul, Minneso�a to be used by FIRA to construct housin5 on property owned by the HRA or the City for purposes of sale, or may be used by the fiRA f.or the gurpose of rehabilitating existi.ng housing used by the HRA ar the City. Proc�ram funds may be used to finance acquisiti�n of land for housi�c� and fcr construction of housing to the e�tent provided in the program guide- lines adopted by the mayor. Proceeds received from the issuance of general obli.gation bonds, revenue bonds and proceeds from the City's general fund, including real estate taxes, shall be used, in art, to provide housing finance assistance for housing to k�e occupied primaril.y by persons of low arid moderate income. Section 5. . Section 9 of Ordinance Number 15975 (as amended by �.r;,ir.an�;e ::::. ?G 5��� �s hereby amende�l by de leting that Section in its entirety and substituting in lieu thereof �r.e �til.iowin5: The mayor may provide temporary construction finaneing and permanent financing upon satisfactory completion of eonstruction or rehabilitation of the housing. In all cases of housing finance assistance, the mayor may obtain a mortgage lien upon the land and improvements. In the making of housing loans secured by first lien mortgages, the mayor shall attempt to obtain Federal Housing Administration insurarice, private mortgage insurance or a Veterans Administration guaranty in all cases in which the value of the loan exceeds 75� (or such other percentage as the mayor may determine) of the value of the land and im�rovements. In the making of housing l�ans not secured b� first lien mortSages, �e mayor s'-Fia attem�t to obtain Federal HouSinct Administration in:;urance, private loan insurance, or other sir.milar insur.ance zn all c�ses in w ic ��rivate en ers ��ou o tain suc insu.rance. e riayor may obtaa.n such other 1oan, mortgage or hazard ir.surance as may . , ������� . . 1 t�.��� be feasible and will better protect the interest of the City. All loans made by the City shall comply with all applica}yle federal and state la�as and requlations pertaining ther:eto, including interest-rate limitations and full: disclosure require- ments. � . Section 6 . Sectian 10 of Ordinance Nur,iber 15975 (as amended by � Ordi,nance tso. 16504) is hereby amended by deleting that Section in its entirety and substituting in lieu thereof the f.ollowa.ng: The proceeds from the sale of general obligation bonds and from reveriue bonus issued for the programs authoriz�d by this ordinance shall each be placed in a separate fund which may be held by a trustee under a trust indenture ar bond resolution; ' monies placed in these two fUnds may be transferred or disbursed to a fund which will combine these sources with other sources to accomplish the City's Housing and Rehabilitation Finance Programs; and housing finance loans and mortgage credits may be made from this combined fund. The general obligation bonc�s issued under thi.s ordinance may be retired in accordance �aith the City's normal funding process for general obligation bonds . Revenue bonds or revenue obligations issued far these programs �hall be retired solely from all or the rever_ue sotirces of the programs author�_zed by Chapter 260 , La�•;s of 1975, as deiined and pledged to the:i.r r.�na�.�m�r..fi i.n t'?Pi.r resp�ct i�T� ����� �:AC�1_����nr,s; �,° indentu.r��;; and a separate sinkinq fund or funds and such. other funds or accounts as may be appropriate shall be established for the accounting of the revenues and re�irement of these revenue bonds by the bon.d resolution or inclenture pertaining to such revenue bonds. Section 7. Section 11 of Ordinance Number I5975 (as amended by � Ordinance No. 16504) is hereby amend�d by deleting that Section in its entirety and substituting in lieu thereof the following: The foregoing provisions of this Ordinance, �na the - provisions af this Section 31, sha11 consta.tute the regulations required for the program atithorized by Chaptez 26G, Laws of 1°75. Tn develo�ing and administering the pragram, the mayor shall . consider: (a) The availability and affordability of other_ � governmental programs; (b� The availabil.ity and affordability of privat� market financing for mortgage loans and rehabilitation loans; � ������ �� �` r���. (c) Whether refinancing existing mortgages �vill enable rehabilitation of housing units under a federal, state or local housing rehabilitation program; � (d) The need for rphabilitat9.ng housing units acquired from governr,iental bodies and agencies; (e) The need for additional mortgage credit to encouragF the purchase of housing units within the geographic boundaries of the City, and the purchase of rehabili- tated housing units from governmental bodies or agencies; (f) The need for additional mortgage credit to encourage the nurchase of housing units which are located on '. property which go�ernmental bodies or agencies have acquired and made suitable for housing construction; (g) The advisability of employing, or contracting for the � services of, private mortgac�e market pers.ons or insti- tutions to aid and assist the City in ca.rrying out the purposes of this ordinance; (h) The advisability and availability of mortgage pool � insurance, special hazard insurance and other pool. �.r. aa��re�a�e Minsurance to protect the inter_est of the City in the loans, mortgages , and �.and aiid improvements� financed pursuant ta tnis ordinance; � (i) In determining that financing is not ottierwise available from private lenders equivalent upon terms and conditions or upon terms and conditions which are affordable by loan applicants, such data as may be available concerning the cost o� housing w�.thin the City, the cost of maintaining and insuring such housing, the cost of rehabi.litating such housix�g, incomes of persons and families within the City, the _ rate of increase and cost of housing within the City, and thA .rate of increase in the funds availahle to persons anc3 families �•�ithin the Cit�J; dnd i (j) The advisability of special cr�iteria for re�evelo�i7ent . areas, and for especially deteriorated structures, which criteria may make financing available in redevelopment areas , and for espec�ally deterioratec� structures, without regard to incor,ie lir:iits; and (k) The advisability of coordina�i:�r, sacz �=o:��G� o= prograras with other City, state, federal and other prograr�s to the end that all such programs shall constitute a comprehensive program for achieving the purposes of Chapter 260, Laws of 1975. �WHITLR — CITV CLERK PINK — FINANCE GITY OF SAINT PATTL Council �.-� CANARY — DEPARTMENT ;E� .—�dAYOR File �O. ��� � � Ordin�nce Ordinance N�. ! �� Presented By Referred To Committee: Date Out of Committee By Date The mayor shall formulate such criteria for submission to the City Council for review and approval, in connection with any program or programs undertaken pursuant to this ordinance and consistent with the regulations promulgated hereunder as shall most effectively carry out the purposes of this ordinance. Such criteria may be contained in any agreement, contract, indenture, bond resolution, or other instrument pertaining to such program or programs. COU(VCILMEIV Requested by Department of: Yeas Nays �� McMahon � In Favor Hozza Hunt L,evine a Against BY Maddox � Sh ter edesco Ad ed by Coun ' . Date g�T �. � 1919 Form Approved by City Attorney Certified P sed by ounc' ecre,Yary BY ' ' t A by Mayor: Da � 0 C�' 2 5 1979 App by Mayor for Submis uncil � B sy pt�eLiSHEb N OV � i979 ....,..�,��::r,. �c�5�a �� - _�_°�=�„` °=,:;� CITY OF SAINT PAUL ' ~� '"" ' �� OFFICE OF THE CITY ATTORNEY _4 � _�, 5 p �.' �� IIll�lll�lf; >'D '<: �-1—L �= EDWARD P. STARR, CITY ATTORNEY � �••• ` 647 City Hall,Saint Paul,Minnesota 55102 .>.��.,•;�.,,.���'. GEORGE LATIMER 612-298-5121 MAYOR <-- ` �� �'c�3'n. �,.. .�,:�, October 12 , 19 79 To: oun i 1 embe rs Fr � . i rt Re : An Administrative Ordinance, City of Saint Paul Housing and Rehabilit�tion Finance Program The referenced proposed Ordinance is scheduled for its third reading on Tuesday, October 16 , 1979. PED staff, bond counsel and this Office recommend City Council consideration and adoption of tizree amendments set forth in the attachment. cc: City Clerk v . �O AN ADMI:vISTRATIVE ORDINAIJCE ADOPTED PURSUAIJT ^10 CHAPTER 260, LAWS OF MIi�TNESOTA FOR 1975 , AMEVDING ORDINANCE N0. 15975 (AS AMENDED BY ORDIIQANCE N0. 16504) AND PROMULGATING REGULA- TIOP3S FOR THE CITY'S HOUSIiJG AND REHABILITA- TIOt1 FINA�'VCE PROGRAM Councilmember moves to amend the proposed Administrative Ordinance as - follows : 1. Insert as Section 2 "Section 4 of Ordinance Number 15975 (as amended by Ordinance No. 16505) is hereby amended by deleting that Section in its entirety and substituting in lieu thereof the following: "Subje'ct to the approval of the City Council, the Mayor may employ the services of "the Minnescta Housing Finance Agency for the purpose of aiding in the implementation of the City' s housing finance programs to the extent permi.tted by law. To the extent permitted by law, the Mayor may designate the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") , on behalf of the City, or in conjunction with the City, to implement any of the City's housing finance programs, and to issue revenue bonds therefor. If the HRA is so designated, it is hereby authorized to exercise any and all of the powers which the Minnesota Housing Finance Agency is authorized to exercise under the provisions of Minnesota Statutes , Chapter 462A, in the making or purchase of loans and securities , in furtherance of the programs , and in the issuance of revenue bonds or obligations pursuant to Chapter 260, Section 3, Laws for 1975. In the alternative, if the HRA is not so designated, the City may exercise, within the corporate limits of the City, all such powers. Revenue bonds or other obligations issued by the City of Saint Paul or the HRA, or both, shall first be authorized and approved by the City Council or the HRA, or both, as appropriate, and snall be issued in accordance with the terms and provisions of applicable law or Charter provisions , including Chapter 881, Laws for 1963 , as amended; Chapter 351, Laws for 1975 , as amended; ' and Chapter 260, Laws for 1975; and for such purpose, the City Council, or the HRA, or both, may exercise, within the corporate limits� of the City, any and all of the powers cahich the Minnesota Housing Finance Agency is authorized to exercise under the provisions of Minnesota Statutes , Chapter 462A. " . � . 2. and Renumber the remainir_g Sections accordingly. 2. In Section 2 (renumbered as Section 3) , the last two sentences wherever the words "mortgage" or "mortgages" appear, substitute the words "loan" and "loans" therefor. 3. In the Title, delete the title and substitute in lieu thereof the following: "AN ADMINISTRATIVE ORDINANCE, CITY OF SAINT PAUL HOUSING AiJD REHABILITATION FINANCE PROGRAM: . - - � � o � . '� ist �� � 2�a � I . 3rd — Adopted d Yeas Nays � HOZZA HUNT LEVINE ����� . MADDOX McMAHON TIDESCO PRESIDENT (SHOWALTER) � WHITE - CITV CLERK �� PINK FINANCE _ (�NAR'.�=� EPARTMENT COIIIlC1I B�,�E,-+_�n�oR GITY OF �AINT PATTL ����'��'��_ . , File N O._ � 4'�� - OrGLZ�IZCI�IZCP. Ordinance N O. t Presented By ' w Referred To Committee: Date � � Out of Committee`'$y Date AN ADMINISTRATIVE ORDINANCE ADOPTED PURSUANT TO CHAPTER 260, LAWS OF MINNESOTA FOR 1975, AMENDING ORDINANCE NO.� 15975 (AS At�lENDED BY ORDINANCE NO. 1�504) AND PROMULGATING REGULATIONS FOR THE \CITY'S HOUSING AND REHABILITATION �. FINANCE PROGRAM. ` ` THE COUNCIL OF THE CITY�F SAINT PAUL DOES ORDAIN: � ti ti a Se ion 1. Section 3 of Ordina ce Number 15975 (as amended by Ordinance No. 16504) is hereby amended by deleting that Secta.on in its entirety and substitutin in lieu thereof the following: In the administration o the City's housing finance programs, the mayor shall endeavor to make use of existing lending institutions and staff, from tlie pr'vate and the government sector. The mayor may employ all such necess ry staff, contract with public or private institutions or persons an obtain materials, supplies, equipment and office space as is in th judgment of the mayor necessary for the administration of the programs and within the funding appro�riations approved by the ' ty Council. Section 2. Section 6 of Ordinance Number 159 (as amended by Ordinance No. 16504) is hereby amended by de� ting that Section in its entirety and substituting in lieu ther of the following: COUNCILMF,IV Requested by Department of: Yeas Nays Butler In Favor Hozza Hunt Levine Against BY Maddox Showalter Tedesco Form Approve y City ttorn Adopted by Council: Date Certified Passed by Council Secretary BY � By � Approved by Mayor: Date Ap rov by Mayar for S is Counci By B - "'� , �6 t���� ' \ All loans issued by the City shall be made only when it is ' rst determined that similar financing is not otherwise avail le u�on equivalent terms and conditions from private lender or, with respect to each loan applicant, upon terms and conditio s which are affordable by the applicant. For such latter pu ose, following receipt of loan applications a determinat on shall be made by the City or on the City's behalf that loan c dit for that type of housing is not available from private lende s under terms and conditions which will permit the borrower to re t, rehabilitate or acquire the housing units at a rate which the arket will be able and willing to pay or which is affordable b th a licant; or, in the case of owner-occupied housing, that the onthly principal and interest payments will not be affordable by tn�e a�plicant based on such criteria as are deemed appropriate \ r the particular program. Owner-occupied h_�_o�u�_��s��i�ng shall be priv te detached or attached owner-occupied �one, two�ree or four-fam ly dwelling unit, a townhouse dwelling, or a dwelling unit unde condominium ownership (but not including a mobile home or trailer ., occupied or to be occupied by but one family alone, containing c�r.lplete living facilities and facilities functionally related and su3�ordinate thereto, and located within the geographic boundaries o�� the City. In the event that the City shall provide housing finance�.assistance, the borrower shall be required to repay the principa�. amount of the mortgage, together with interest, at a rate that wi�ll be at least equal to the interest rate which the City is required �'�o pay on its bonds or other obligations. In establishing mor gage repayments, the mayor sha11 endeavor to ensure that the revenu�s received by the City will be sufficient to retire thE principal �nd interest on bonds issued to finance the prograr.is and also to �rovide for the costs of administering the mortgages. Section 3��� Section 8 of Ordinance Number \�5975 (as amended by Ordinance No. 16504) is hereby amended by'deleting that Section in its entirety and substituting in lieu t ereof the following: Programs established by the mayor ay provide loan financing for new construction, acquisition a d rehabilitation, or acquisition of single family housing, multiple family housing, townhouses, condominiums and apartments. The ograms may also provide for refinancing of existing indebtednes� so that owners of housing units needing rehabilitation may then ta�e advantage of existing rehabilitation programs administered by the City or other agencies. The programs may also provide for exten ion of financing for rehabilitation of existing housing units. Fina cing may be provided to the Housing and Redevelopment Authority f the City of Saint Paul, Minnesota to be used by I�IRA to constr ct housing on property owned by the HRA or the City for purposes of sale, or may be used by the HRA for the purpose of rehabilit ting existing housing used by the HRA or the City. Program unds may be used to finance acquisition of land for housing and or con.struction of housing to the extent provided in the pr gram guide- lines adopted by the mayor. Proceeds received from the i suance of general obligation bonds, revenue bonds and proceeds f m the City's general fund, including real estate taxes, shall be used, in part, to provide housing finance assistance for housing, o be occupied primarily by persons of low and moderate income. . - , d� d t)�C� Section 4. Section 9 of Ordinance Number 15975 (as amended by Ordinance No. 16504) is hereby amended by deleting that Section in �.ts entirety and substituting in lieu thereof the following: \ The mayor may provide temporary construction financing and pe�'manent financing upon satisfactory completion of construction or reha�ilitation of the housing. In all cases of housing finance assistan e, the mayor m� obtain a mortgage lien upon the land and improveme ts. In the making of housing loans secured by first lien mortgages, the mayor shall attempt to obtain Federal Housing Administrat on insurance, private mortgage insurance or a Veterans Administrati n guaranty in all cases in which the value of the loan _ exceeds 75� ( r such other percentage as the mayor may determine) of the value o the land and im�rovements. In the making of housing loans nmt secured by first lien mortgages, e ma or s a attempt to'�obtain Federal Housinq Administration insurance, private loan insu�ance, or other sir.liZar insurance in all cases in w ic rivate n ers wou o tain suc insurance. e mayor may obtain such oth r loan, mortgage or hazard insurance as �nay be feasible and will�better protect the interest of the City. All loans made by the`�,City shall comply with all applicable federal and state laws�and regulations pertaining thereto, including interest-rate'`,limitations and full disclosure require- � ments. `�.� Section 5. Section 10 of Ordi ance Number 15975 (as amended by Ordinance No. 16504) is hereb� amended by deleting that Section in its entirety and substituti in lieu thereof the following: The proceeds from the le of general obligation bonds and from revenue bonds issued for �the programs authorized by this ordinance shall each be placed in � separate fund which may be held by a trustee under a trust ind�ture or bond resolution; monies placed in these two funds may e transferred or disbursed to a fund which will combine these so ces with other sources to accomplish the City's Housing and Reha ' litation Finance Programs; and housing finance loans and mortgage edits may be made from this combined fund. The general obligat on bonds issued under this ordinance may be retired in accordance wi h the City's normal funding process for general obligation bon s . Revenue bonds or revenue obligations issued for these progra s shall be retired solely from all of the revenue sources of th . programs authorized by Chapter 260, Laws of 1975, as defined and 'pledged to their repayment in their respective bond resolutions�� or indentures; and a separate sinking fund or funds and such �:ther funds or accounts as may be appropriate shall be established for �e accounting of the revenues and retirement of these revenue bon�s by the bond resolution or indenture pertaining to such revenu� bonds. Section 6. Section 11 of Ordinance Number 15975 (as am nded by Ordinance No. 16504) is hereby amended by deleting tha Section in its entirety and substituting in lieu thereof the following: . ���[ll 1�,t� . The foregoing provisions of this Ordinance, and the ' provisions of this Section 11, shall constitute the regulations required for the program authorized by Chapter 260, Laws of 1975. In develo�ing and administering the program, the mayor shall consider: (a) The availability and affordability of other governmental programs; (b) The availability and affordability of private market financing for mortgage loans and rehabilitation loans; (c) Whether refinancing existing mortgages will enable rehabilitation of housing units under a federal, state or local housing rehabilitation program; (d) The need for rehabilitating housing units acquired from governmental bodies and agencies; (e) The need for additional mortgage credit to encourage the purchase of housing units within the geographic boundaries of the City, and the purchase of rehabili- tated housing units from governmental bodies or agencies; (f) The need for ardditional mortgage credit to encourage the nurchase of housing units which are located on property which governmental bodies or agencies have acquired and made suitable for housing construction; (g) The advisability of�,employing, or contracting for the services of, private mortgage market persons or insti- tutions to aid and assist the City in carrying out the purposes of this ordinance; (h) The advisability and ava].lability of mortgage pool insurance, special hazard insurance and other pool or agqregate insurance to grotect the interest of the City in the loans, mortgages, and land and improvements, financed pursu�nt to this ordinance; \ . � (i) In determining that financing ��s not otherwise available from private lenders �e uivalent upon terms and conditions or u on te s and conditions which are affordable by loan app ,' cants, such data as may be available concerning the cd,st of housing within the City, the cost of maint�ining and insuring such housing, the cost of rehabilit�ting such housing, incomes of persons and families with�n the City, the rate of increase and cost of housing i�ithin the City, and the rate of increase in the funds ``�available to persons and families within the City; �nd (j) The advisability of special criteria for `'redevelopment areas, and for esnecially deteriorated st�zctures, which criteria may make financing availabl in redevelopment areas , and for especially deteriorated structures, without regard to income limits; and WHITE - CITV CLERK � PINK - FINANCE � GITY OF SAINT� PAUL Council ^y.q� ' CANARV �DHPARTMENT .Dt Jt���� BLUE ; _�,,,,oR � File NO. � � ,i.. A�� i Ordin�nce ordinance N 0. Presented By `. Referred To Committee: Date Out of Committee By Date (k) The�.�advisability of coordina�i:�g �ac.z �ro:;�a-� or programs with other City, state, federal and other progr�ms to the end that all such programs shall consti�ute a comprehensive program for achieving the purp.oses of Chapter 260, Laws of 1975. The mayor shall forraulat� such criteria for submission to the City Council for review and approval, in connection with any program or programs undertaken pursuant to this ordinance and consistent with the regulations promulgated hereunder as shall most effectively carry out the purposes of this ordinance. Such criteria may be contained in any agreement, contract, indenture, bond resolution, or other instrument pertaining to such program or programs. �. � , COUNCILMEIV Requested by Department isf: Yeas Nays 8�X McMahon Hozza In Favor Hunt L.evine 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 Ap rov by Mayor for m ' n to CoiiYicil BY BY � '