Agenda - Council - 04/22/2008 - Laserfiche WebLink

Home

a pledge of gross revenues of the Project for the five year period commencing on June 1, 2008, and thereafter shall be a pledge of net revenues of the Project, after payment of operating costs of the Project. During such initial five -year period, the City shall agree to provide in its budget each year for any anticipated deficiency in the Project revenues available for operation and maintenance of the Project, and the City shall levy taxes as necessary, without limitation, for the purpose of paying such deficiency, and shall transfer the proceeds of any such levy to ACHRA or the bond trustee for the purpose of paying such operation and maintenance costs, all as authorized by Minnesota Statutes, Sections 469.041(10) and 471.191, subdivision 2. The parties acknowledge and agree that the City shall remain within the taxing jurisdiction of the ACHRA so long as the Project Bonds are outstanding. The parties further acknowledge and agree that, pursuant to statutory authority, the ACHRA may make an annual levy within its taxing jurisdiction to fund ACHRA activities (including operation of the Project), and that the ACHRA may pledge a portion of its annual levy payable as revenue to be used for the Project. B. Section 4, Subsection 3) Priority for Residency. is hereby amended to read as follows by deleting the existing language and substituting the following: 3) Priority for Residency. For initial occupancy of the dwelling units in the Project, and thereafter at such times as all residential dwelling units in the Project are occupied and a waiting list is implemented, applicants shall be given priority for occupancy in accordance with the following: a) Applicants who are Priority Applicants (as hereinafter defined) shall be given occupancy before other applicants. Where two or more Priority Applicants are next in succession for a vacant unit, such Priority Applicants shall be allocated units in the order in which their respective applications were received. In the case of couples, only one person need meet the criteria described below in order for the couple to meet the definition of a Priority Applicant. b) A "Priority Applicant" is an applicant who is at least 55 years of age, and who meets one of the following criteria, in the following order of priority: Priority 7) During the five (5) year- period commencing on June 1, 2008, any person who has been domiciled in the taxing area of the City for a period of at least six months prior to application. Priority 2) Any person who has been domiciled in the taxing area of the ACHRA for a period of at least six months prior to application. Priority 3) Any other person who has been domiciled in Anoka County for a period of at least six months prior to application.