13-04H HRA ResolutionMOUND HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 13 -04H
RESOLUTION AUTHORIZING EXECUTIVE DIRECTOR TO ENTER INTO A CONTRACT
WITH SIGNET PARTNERS CORPORATION FOR FEASIBILITY STUDY
WHEREAS, the Mound HRA has periodically evaluated its options for management and
ownership of the Indian Knoll Manor Public Housing Apartment Building located at 2020
Commerce Boulevard; and
WHEREAS, the City entered into an agreement with Common Bond Communities in 2011 to
provide Property Management Services at Indian Knoll Manor; and
WHEREAS, Common Bond owns many HUD subsidized affordable housing buildings both in
the Mound area and all over Minnesota and Wisconsin; and
WHEREAS, there are efficiencies to be gained by Common Bond assuming direct control and
ownership of Indian Knoll Manor with minimal impact to tenants and freeing up of Mound HRA
administration staff time; and
WHEREAS, Common Bond has agreed to pay 50% of the $2,000 cost of a feasibility study to
see if Indian Knoll is a viable candidate for HUD RAD conversion; and
WHEREAS, the remaining cost can be covered under the current operating budget for Indian
Knoll Manor with any future costs of a HUD RAID conversation being paid for by Common Bond;
NOW, THEREFORE BE IT RESOLVED by the Housing and Redevelopment Authority of and
for the City of Mound, Minnesota, hereby authorizes the Executive Director to enter into a
contract with Signet Partners Corporation for a feasibility study as contained in the attached
Exhibit A.
Adopted this 9t" day of April, 2013.
�-Ai Z ��
Chair Mark Hanus
6 a ' 'W,
Attest: Catherine Pausche, Clerk