Request for Committee Action
A briefing memo explaining the purpose, background, and impact of the requested action.
550 West Lake Street Affordable Housing Project: Tax Exempt Multifamily Housing Revenue Bond (HRB) Issuance (RCA-2024-00176)
ORIGINATING DEPARTMENT
To Committee(s)
| # | Committee Name | Meeting Date |
|---|---|---|
| 1 | Business, Housing & Zoning Committee | February 27, 2024 |
Action Item(s)
| # | File Type | Subcategory | Item Description |
|---|---|---|---|
| 1 | Action | Scheduling | Setting a public hearing for March 12, 2024, to consider the issuance of Housing Revenue Bonds for 550 West Lake Street Affordable Housing Project at 550 Lake St W. |
Previous Actions
2023-01091 - 550 West Lake Street Tax Increment Financing (TIF) Plan
2023-01023 - 550 Lake Street Apartments Tax Increment Financing Plan: 550 West Lake St
2022-00036 - 2021 Affordable Housing Trust Fund Award recommendations
2021-00450 - Applications for environmental grant funding in the spring 2021 brownfield grant round
Ward / Neighborhood / Address
| # | Ward | Neighborhood | Address |
|---|---|---|---|
| 1. | Ward 10 | Whittier | 550 Lake St W, Minneapolis, MN |
Background Analysis
This request is to set the public hearing date for March 12, 2024 for the consideration of the issuance of one or more series of tax-exempt Housing Revenue Bonds for 550 West Lake Street project. The project will consist of 110 units of affordable housing.
FISCAL NOTE
- No fiscal impact anticipated