10/24/06 Special Meeting - Laserfiche WebLink

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NOW, THEREFORE, IT IS HEREBY AGREED: 1. Purpose. The purpose of this Agreement is to provideACHRA funding for the purchase of land for the City to develop a housing project for low and moderate income personS and their families in the City of Ramsey, State of Minnesota. 2~ CITY Obligations. a. CITY shall apply all funds received pursuant to this Agreement to pay the costs of acquiring the Property. b. CITY agrees to commit or permit no waste on the Project. c. CITY covenants and agrees to use the Project Funds for the purpose of providing affordable housing for low and moderate income families as defined by the ACHRA. d. CITY agrees it will place, or cause another to place, a Declaration of Covenants, Conditions and Restrictions (as set forth in Exhibit B) upon the Property for a period of twenty (20) years from the date of transfer of Program Funds to CITY, pursuant to this Agreement. 3. City to Remain in Taxing Jurisdiction. For so long as this Agreement remains in full force and effect, the City shall remain in ACHRA=s taxing jurisdiction. , 4. ACHRA Obligations. a. ACHRA will dedicate those Program Funds to CITY in the amount stated above. b. The Program Funds will be transferred to CITY by check at the closing of the sale for the purchase of the Property. 5. General Provisions a. Affirmative Action. CITY agrees to comply with the County of Anoka=s Affirmative Action Policy relating to affirmative action. In accordance with such policies, no person shall, on the grounds of race, color, creed, religion, sex, national origin, marital status, status with respect to public assistance, disability, sexual orientation or age be excluded from full employment rights in, participation in, be denied the benefits of, or be otherwise subjected to discrimination under any program, service or 2