2017-09H HRA ResolutionMOUND HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 17-09H
RESOLUTION APPROVING THE RENAMING OF INDIAN KNOLL MANOR TO
BALSAM HILL APARTMENTS AND TOWNHOMES
WHEREAS, the Mound Housing and Redevelopment Authority of Mound, Minnesota (the
"HRA") entered into a purchase agreement and sold its 50 -unit low rent public housing project
known as Indian Knoll Manor (the "Project") to Aeon, a non-profit developer and operator of
affordable housing and its tax credit limited partnership, IKM Limited Partnership; and
WHEREAS, the HRA has executed a loan agreement with Aeon and its tax credit limited
partnership that will ensure that the agreed upon improvements to the Project will be made and
the Project will remain affordable; and
WHEREAS, Aeon and its tax credit limited partnership have requested to rename the Project
Balsam Hill Apartments and Townhomes for branding and marketing purposes;
NOW THEREFORE, BE IT RESOLVED, by the Board of the Mound Housing and
Redevelopment Authority that the renaming of Indian Knoll Manor to Balsam Hill Apartments
and Townhomes is hereby approved.
Adopted by the HRA this 27th day of June 27, 2017.
Chair Mark Wegscheid
Attest: Catherine Pausche, Clerk