File #: Res. 2018-052    Version: 1 Name:
Type: Resolution Status: Passed
File created: 5/8/2018 In control: City Council
On agenda: 5/15/2018 Final action: 5/15/2018
Title: Consider resolution for the City of Northfield to give host approval to the issuance of Senior Housing Facility Revenue Bonds (Benedictine Living Community of Northfield LLC Project) by the City of Red Wing, Minnesota
Attachments: 1. 1 - Benedictine Resolution, 2. 2 - Northfield_BHS_2018_COOPERATIVE_AGREEMENT, 3. 3 - Northfield_BHS_2018_HOUSING_PROGRAM 050818

City Council Meeting Date:                     May 15, 2018

 

To:                                          Mayor and City Council

                                          City Administrator

 

From:                                          Brenda Angelstad, Finance Director

 

Title

Consider resolution for the City of Northfield to give host approval to the issuance of Senior Housing Facility Revenue Bonds (Benedictine Living Community of Northfield LLC Project) by the City of Red Wing, Minnesota

 

Body

Action Requested:

The Northfield City Council approves the attached resolution giving host approval to the issuance of Senior Housing Facility Revenue Bonds (Benedictine Living Community of Northfield LLC Project) by the City of Red Wing, Minnesota.

 

Summary Report:

See staff report for the public hearing (previous item) on this matter.

 

Alternative Options:

Council may choose to not pass the resolution.

 

Financial Impacts:

No impact to the City of Northfield.

 

Tentative Timelines:

The City needs to provide “host approval” before the City of Red Wing can issue the bonds.