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Resolution No. Resolution Adopting a Multi -Family Housing Program for a Housing Development Project; IT IS HEREBY RESOLVED by the Board of Commissioners (the "Board") of The Housing and Redevelopment Authority in and for the City of Ramsey, Minnesota (the "HRA") as follows: 1. Recitals: (a) Minnesota Statutes, Chapters 469 and 462C (collectively, the "Act"), authorize the adoption of housing programs thereunder for the general purposes of planning, administering, making, or purchasing loans or other assistance with respect to housing developments within the boundaries of the City of Ramsey, Minnesota (the "City"), including without limitation housing development projects. (b) It has been proposed that the HRA adopt a Multi -Family Rental Housing Program for a housing development project to be undertaken by F & C Ramsey, LLC (the "Housing Program"). The Housing Program relates to the development of approximately 230 multi -family rental housing units of which 50% of the units are intended for occupancy by persons and families of moderate income and shall constitute a housing development project under this Housing Program. Copies of the Housing Program have been presented for the Board's consideration on this date and are made fully a part of this Resolution to the same extent as though set forth in full herein. (c) The HRA desires to facilitate the development of the housing development project within the City and to promote the various goals and activities envisioned or specified in the Housing Program. (d) A public hearing on the Housing Program was held on the date hereof, after notice of such public hearing was duly published in the official newspaper of the City not less than 15 days in advance of said public hearing, and at which public hearing all persons who desired to present their views on said proposals, either orally or in writing, were afforded an opportunity to do so. (e) Pursuant to Section 462C.04 of the Act, the HRA made a submission of the Housing Program to the Metropolitan Council for its review and comment, and the HRA has received no unfavorable comment from and on behalf of Metropolitan Council. 2. Adoption of Housing Program. Pursuant to the Act, and particularly for the purpose of compliance with Section 469.0171, the Board hereby adopts the Housing Program. 3. Findings. Pursuant to Section 469.017 of the Act, the Board hereby finds that the Housing Program is a "housing development project" and that it is necessary to alleviate a shortage of decent, safe, and sanitary housing for persons of moderate income and their families. It is the intent and declaration of the Board that the activities and assistance described in the 4268303v3