2015-06H HRA ResolutionMOUND HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 15-06H
RESOLUTION APPROVING RENTAL ASSISTANCE DEMONSTRATION
(RAD) PROJECT DEVELOPMENT PARTNER
WHEREAS, the Mound Housing and Redevelopment Authority of Mound, Minnesota (the
"HRA") owns and operates a 50 -unit low rent public housing project known as Indian Knoll
Manor in the city of Mound; and
WHEREAS, the HRA has received preliminary approval from the U.S. Department of Housing
and Urban Development (HUD) for a Commitment to Enter into a Housing Assistance Payments
(CHAP) under the Rental Assistance Demonstration program; and
WHEREAS, the HRA is required to form a development team with evidence demonstrating the
team's recent successful experience financing, developing, rehabilitating, constructing, and
owning similar projects; and
WHEREAS, a Request for Qualifications and Interest in the Purchase of Indian Knoll Manor was
issued to two major non-profit developers in Minnesota, Common Bond and Aeon, both of
whom meet HUD's requirements to be a development partner; and
WHEREAS, responses were received carefully reviewed by the HRA Board of Commissioners
and Staff: and
WHEREAS, while both organizations are highly qualified, Aeon was better able to demonstrate
the ability and willingness to explore all options, including revitalization or total replacement of
the property, and recent direct experience with a HUD disposition process;
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Mound Housing
and Redevelopment Authority, that Aeon is approved to be the HRA's Rental Assistance
Demonstration (RAD) Project Development Partner.
Adopted by the HRA this 28`" day of April, 2015.
MSG'-Jv_3
Chair Mark Wegscheid
Attest: Catherine Pausche, Clerk