Agenda - Council - 03/11/2014 - Laserfiche WebLink

Home

DEMONSTRATION ION ACCOUNT P DEVELOPMENT G ',NT PROG T a NSIT 0ENTED DE LOPMENT (TOD) PROG Municipality. "Municipality" means a statutory or home rule charter city or town participating in the Local Housing Incentives Account Program under Minnesota Statutes section 473.254. Named TOD Area. "Named TOD Area" means the TOD area identified by name and location in the Grantee's application for TOD program funds and in the Pre -Development TOD Project Summary attached to this Agreement. Participating Municipality. "Participating Municipality" means a statutory or home rule charter city or town which has elected to participate in the Local Housing Incentive Account program and negotiated affordable and life -cycle housing goals for the Municipality pursuant to Minnesota Statutes section 473.254. Pre -Development TOD Project. "Pre -Development TOD Project" means the grant -funded activities for which funding is requested in the Grantee's application for Demonstration Account Pre -Development TOD Grant Program funds. Project Area. "Project Area" means the specific geographic area within which the Future TOD Development Project must be undertaken and within which the Pre -Development TOD Project will be conducted as described in the Grantee's application. The Project Area must be located within a "developed area," a "developing area," or a "rural growth center" as those terms are defined in the Council's Metropolitan Development Guide. The Project Area cannot include regional park lands. The Project Area may include regional trails that cross through or are located adjacent to the Project Area, but neither the Future TOD Development Project nor the Pre -Development TOD Project may provide for the alteration or elimination of any regional park lands or trails. (k) Transit Oriented Development. "Transit Oriented Development" means high -density, mixed - use development adjacent to transit stations using pedestrian -friendly design standards. II. GRANT FUNDS 2.01. Source of Funds. The grant funds made available to the Grantee under this Agreement are from the Livable Communities Demonstration Account of the Metropolitan Livable Communities Fund. The grant funds are derived from the property tax authorized by Minnesota Statutes section 473.253, subdivision 1 and are not from federal sources. 2.02. Total Grant Amount. The Council will grant to the Grantee the "Grant Amount" identified at Page 1 of this Agreement. Notwithstanding any other provision of this Agreement, the Grantee understands and agrees that any reduction or termination of Livable Communities Demonstration Account TOD program grant funds made available to the Council may result in a like reduction in the Grant Amount made available to the Grantee. 2.03. Local Funding Match. The Grantee must provide a local match contribution that equals at least twenty-five percent (25%) of the Grant Amount identified at Page 1 of this Agreement. The local match contribution may be one or more of the following: cash; in -kind staff services, if the staff time is specifically allocated to conducting or completing grant -eligible Pre -Development TOD Project activities; or cash or in -kind contributions from partners that are specific to grant - Page 3 of 10 Pages