Title
Resolution endorsing and approving the Minneapolis/Saint Paul Housing Finance Board’s Low Income Housing Tax Credit Procedural Manual and Qualified Allocation Plan for 2020, Citywide
Body
WHEREAS, the Federal Tax Reform Act created Low Income Housing Tax Credits (“Credits” ) to encourage the production of affordable low-income rental housing; and
WHEREAS, the Minneapolis/Saint Paul Housing Finance Board (“Housing Finance Board”) is authorized to allocate Credits for the City of Saint Paul for the calendar year of 2020; and
WHEREAS, the Housing Finance Board must annually publish a Credit Procedural Manual and a Credit Qualified Allocation Plan which establishes the selection criteria for the distribution of the 2020 tax credits; and
WHEREAS, the staff of the Housing and Redevelopment Authority (“HRA”) of the City of Saint Paul, Minnesota recommends to the Housing Finance Board’s Low Income Housing Tax Credit Procedural Manual and the Housing Finance Board’s Qualified Allocation Plan for 2020 as the endorsements by the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota with the final adoption by the Minneapolis/Saint Paul Housing Finance Board, as referenced by the HRA Board staff report, dated April 24, 2019.
NOW THEREFORE, BE IT RESOLVED, that the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, upon its review, endorses and approves the Housing Finance Board’s Low Income Housing Tax Credit Procedural Manual and the Qualified Allocation Plan for 2020, as set forth respectively in the HRA Board staff report, dated April 24, 2019.