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<br />Council Mi nutes <br />May 28, 1985 <br /> <br />I <br /> <br />Motion by Harcus, seconded by Blomquist, to CONTINUE THIS <br />PUBLIC HEARING CONSIDERING APPLICATION FOR INDUSTRIAL REVENUE <br />BONDS FOR BILL HENNING COMPANY UNTIL THE JUNE 11, 1985, <br />COUNCIL MEETING. <br /> <br />4 Ayes - 0 Nayes, Motion Carried <br /> <br />Krueger reviewed staff report, stating the Housing Plan <br />under Minnesota Statutes, Chapter 462C, was drafted by staff <br />with the help of the City Attorney and that adoption of this <br />Plan would enable the City of New Brighton to accept appli- <br />cations for housing revenue bonds for housing programs, <br />Krueger added that the Planning Commission has recommended <br />approval of this housing plan, <br /> <br />Harcus stated there is nothing specific for useage stated in <br />the plan; would like to see staff draft some guidelines on <br />how they can be used and where they can be used, as we have <br />for Industrial Revenue Bonds, <br /> <br />I <br /> <br />Winkels stated the enabling legislation of the revenue bonds <br />is the same 474 Chapter that provides for Industrial Revenue <br />Bonds; our policy (Resolution 2168) regarding Industrial <br />Revenue Bonds talks to the issuance of bonds for projects <br />covered under Chapter 474 but it does not specifically talk <br />to housing, <br /> <br />Harcus asked if these bonds can be used for rehabilitation; <br />Winkels responded they could and that the rationale for the <br />bonds i's to increase the tax base, increase emp 1 oyment <br />opportunities, or to i"ncrease housi'ng for low income people. <br /> <br />Harcus stated he could see using the monies for rehabilitation, <br />citing some old apartment buildings in the city might qualify, <br /> <br />Blomquist stated he would also like to see staff come up with <br />some policy suggestions that would add to our current policy <br />regarding the use of Industrial Revenue Bonds and incorporate <br />the housing section into that, <br /> <br />As no one in the audience had any comments, Blomquist moved, <br />seconded by Harcus, to CLOSE THE PUBLIC HEARING, <br /> <br />4 Ayes - 0 Nayes, Motion Carried <br /> <br />I <br /> <br />Motion by Harcus, seconded by Benke, to WAIVE THE READING AND <br />ADOPT A RESOLUTION APPROVING AND ADOPTING A HOUSING PLAN UNDER <br />MINNESOTA STATUTES, CHAPTER 462C, AND TO FURTHER DIRECT STAFF <br />TO DESIGN A RECOMMENDED POLICY ON THE USE OF THESE BONDS, <br /> <br />4 Ayes - 0 Nayes, Motion Carried <br /> <br />Page Two <br /> <br />462C Housing Plan <br />Report 85-144 <br />7:36-7:39pm <br /> <br />Resolution 85-47 <br />