DEPARTMENT: Physical Development Administration
FILE TYPE: Consent Action
TITLE
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Scheduling Of Public Hearing Regarding Issuance By Dakota County Community Development Agency Of Bonds Backed By Full Faith And Credit Of Dakota County To Finance Affordable Rental Housing For Seniors In City Of Inver Grove Heights
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RESOLUTION
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WHEREAS, pursuant to Minnesota Statutes, Chapter 475 and Sections 469.001 through 469.047 (the Act), and particularly Section 469.034, subd. 2, the Dakota County Community Development Agency (the CDA) is authorized to issue bonds to finance qualified housing development projects and, with the consent of Dakota County (the County), pledge the County’s full faith and credit to such bonds; and
WHEREAS, the CDA proposes to issue bonds (the New Money Bonds) to finance a multifamily rental housing development to be located in Inver Grove Heights (the Project), which will provide housing for low- and moderate-income elderly persons and which constitutes a qualified housing development project; and
WHEREAS, the CDA has requested that the County pledge its full faith and credit to the New Money Bonds; and
WHEREAS, the Act requires as a condition precedent to issuance of the New Money Bonds that both the CDA and the County hold public hearings regarding the issuance thereof.
NOW, THEREFORE, BE IT RESOLVED, That the Dakota County Board of Commissioners hereby schedules a public hearing for December 1, 2026, at 9:00 a.m., in the Boardroom, Administration Center, 1590 Highway 55, Hastings, Minnesota, to receive comments and authorize the Dakota County Community Development Agency to issue New Money Bonds to finance affordable rental housing in the city of Inver Grove Heights; and
BE IT FURTHER RESOLVED, That County staff is hereby authorized and directed to work with the Dakota County Community Development Agency to publish the public hearing notice in a newspaper of general circulation in Dakota County, not fewer than seven days prio...
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