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HomeMy WebLinkAbout89-0426 Low Income Housing Tax Credit CERTIFICATE OF THE CITY CLERK OF THE CITY OF ELGIN I, the undersigned, certify that I am the duly qualified and acting City Clerk of the City of Elgin (the "City") and the keeper of its official records and files, and do further certify as follows: I. Attached to this certificate is a true and correct copy of a Resolution Allocating Low Income Housing Tax Credit Authority for 1989 (the "Resolution") which Resolution was adopted and approved by the City Council of the City at a regular meeting held on April 26, 1989 in connection with the City's transfer (the "Transfer") to the Illinois Housing Development Authority of all the City's portion of the 1989 State Ceiling (as defined in the Resolution). The meeting at which the Resolution was adopted was duly called by the Mayor and a quorum was present and acting throughout. 2. Minutes of that meeting, in which the Resolution is set forth, have been duly entered into the minute book of the City; the Resolution has not been altered, amended or repealed and is in full force and effect on the date hereof; and no other resolution or ordinance relating to the Transfer has been adopted by the City. 3. The meeting of the City Council of the City at which the Resolution was adopted was open to the public at all times and was held at a time and place convenient to the public. Actual notice of such meeting was given to the public by posting a notice thereof and a copy of the agenda for such a meeting in a prominent place at the principal office fo the City of Elgin more than 24 hours prior to such meeting. Copies of such notice and agenda were supplied at the time of posting to all local news media who have submitted a request for them pursuant to law. IN WITNESS WHEREOF, I have executed this certification the 27th day of April, 1989. Marie Yearman, ty Clerk City of Elgin RESOLUTION ALLOCATING LOW INCOME HOUSING TAX CREDIT AUTHORITY FOR 1989 WHEREAS, pursuant to Section 42 of the Internal Revenue Code of 1936, as amended (the "Code"), the City of Elgin, an Illinois home rule unit (the "City"), is authorized to allocate low-income housing tax credits for the purpose of assisting in the financing of housing for low-income persons and families; and WHEREAS, pursuant to Section 7-24g of the Illinois Housing Development Act, III. Rev. Stat., Ch. 67u2, Section 307.24g (1987) (the "Act") and the Code, the Illinois Housing Development Authority (the "Authority") is authorized to act as the State Housing Credit Agency for the purpose of allocating low-income housing tax credits for the State of Illinois; and WHEREAS, the Code limits the total amount of low-income housing tax credits that may be allocated by all allocators in the State of Illinois for the calendar year 1989 to $14,435,000 (the "State Ceiling"); and WHEREAS, pursuant to the Code, the City's portion of the 1989 State Ceiling is currently an amount equal to $90,138; and WHEREAS, the Authority has informed the City that it anticipates that the demand for low-income housing tax credits will exceed the Authority's portion of the 1989 State Ceiling; and WHEREAS, the City has determined that it is in its best interests to participate in the allocation of low-income housing tax credits for the purpose of assisting in the financing of housing for low-income persons and families in the State of Illinois; and WHEREAS, the City has not allocated any low-income housing tax credits for the calendar year 1989; and WHEREAS, the City has determined that it is in its best interests not to allocate any low-income housing tax credits under the Code during the calendar year of 1989; and WHEREAS, Section 7.24g(4) authorizes the Authority to accept and allocate low- income housing tax credits that may be transferred from Illinois home rule jurisdictions. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS: I. That the City irrevocably transfers to the Authority $90,138 of its portion of the State Ceiling for the calendar year 1989. 2. The City shall not allocate low-income housing tax credits for the calendar year of 1989. 3. George VanDeVoorde, the Mayor of the City, is authorized and directed to transmit a letter to the Authority transferring low-income housing tax credits on behalf of the City as authorized by this Resolution. 4. The City Clerk is directed to retain in the records of the City a copy of this Resolution and the transmittal letter of the Mayor referred to above. 5. This Resolution supersedes all other Resolutions adopted by the City in connection with the transfer of low-income housing tax credits and to the extent that any previous Resolution is inconsistent with this Resolution, any such inconsistent Resolution is repealed. 6. This Resolution is effective immediately upon its adoption. s/ George VanDeVoorde George VanDeVoorde, Mayor Presented: April 26, 198° Adopted: April 26 , 1989 Vote: Yeas 6 Nays 0 Recorded: Attest: s/ Marie Yearman Marie Yearman, City Clerk t • TELEPHONE 312/695-6500 El �n ri CITY OF ELGIN 150 DEXTER COURT ELGIN, ILLINOIS 60120-5555 ,-- .4r.%,jit' April 27, 1989 Illinois Housing Development Authority 401 N. Michigan Avenue Suite 900 Chicago, IL 60611 Attention: John Day Gentlemen: I am the attorney for the City of Elgin, an Illinois home rule jurisdiction (the "City"). In connection with the City's transfer (the "Transfer") to you of all of the City's portion of the 1989 State Ceiling (as defined in the Resolution hereinafter referred to), I have examined a certified copy of the Resolution adopted by the City Council of the City of Elgin (the "Resolution"), together with such other public records, documents and proceed- ings as I have deemed relevant and necessary to rendering this opinion. Based on the foregoing, I am of the opinion that: I. The City Council of the City of Elgin has the right and power to adopt the Resolu- tion, and the Resolution has been duly adopted by the City Council of the City and is in full force and effect in the form in which adopted as of the date thereof. 2. In adopting the Resolution, the City Council has complied with all procedural requirements required by the laws of the State of Illinois and all requirements, procedural or otherwise, of the City. Very my ours, `A Erwin 0 . Jentsch Corp• ation Coun•- EWJ/nr tv OF EtCi rr =1t== CfcAlieltOe 04, /T(i f(i 150 DEXTER COURT ELGIN, ILLINOIS 60120 ' r Van Je 'l04 r(/9 PHONE MAYOR April 27, 1989 3 t 2 — 695 6500 Illinois Housing Development Authority 401 N. Michigan Avenue Suite 900 Chicago, IL 60611 Attention: John Day Gentlemen: I am George VanDeVoorde, Mayor of the City of Elgin (the "City"). In connection with the City's transfer (the "Transfer") to you of all of the City's portion of the 1989 State Ceiling (as defined in the Resolution hereinafter referred to), I enclose the following: I. Certified Copy of Resolution Allocating Low Income Housing Tax Credit Authority for 1989 adopted on April 26, 1989 with respect to the Transfer. 2. Certificate of Marie Yearman, City Clerk of the City, as to the Resolution, open meetings and related matters. 3. An opinion of Erwin W. Jentsch, Corporation Counsel, counsel to the City, as to the validity of proceedings authorizing the Resolution. Pursuant to the direction given to me in the Resolution, on behalf of the City, I hereby transmit to you this letter evidencing the Transfer. Very truly yours, 4 I- C! George anDeVoorde Mayor • 8`1-0`t,b TELEPHONE 312/695-6500 of El' jtk, 1E(!:, ,„,),)un,._ ,.,,,\ CITY OF ELGIN150 DEXTER COURT ELGIN, ILLINOIS 60120-5555 4\ - July 28, 1989 Illinois Housing Development Authority 401 N. Michigan Avenue Suite 900 Chicago, Illinois 60611 Attention: Julie Biel Claussen Dear Ms. Claussen: I am enclosing herewith a certified copy of Resolution allocating low income housing tax credit authority for 1989, which was adopted by the Elgin City Council on April 26, 1989. If I can be of further assistance, please let me know. Very truly yours, LAa...),-4...-k—,- eti-cl..-tur-A44-0,-.4A-_, Marie Yearman City Clerk MY/db ' Illinois 401 N. Michigan Ave. Writer's Direct Dial Number Housing Suite 900 Development Chicago, Illinois 60611 ® Authority (312) 836-5200 July 24, 1989 Ms. Marie Yearman City Clerk City of Elgin 150 Dexter Court Elgin, IL 60120-5555 Re: Ceding Documents Low Income Housing Tax Credits Dear Ms. Yearman: In a recent review of our ceding documents, it was noticed that we did not receive a signed copy of the city ordinance in connection with the transfer of the City' s portion of the 1989 tax credits to Illinois Housing Development Authority. I have enclosed a copy of the ordinance for signature. If you should have any questions, please feel free to call me at (312)836-5338. Once again, I would like to express the Authority's gratitude for your cooperation. Sincerely, 14'—119''-'--- lie Biel Claussen un Housing Development Officer JBC/kc Enclosure •Investing in Development for Better Housing•Investing in Development for Better Housing•Investing in Development for Better Housing•Investing in Development for Better Housing• . 6-1-89 6-5-89 38-R-89 A RESOLUTION f Allocating 1989 Low Income Housing Tax Credit to the Illinois Housing Development Authority Y `.: WHEREAS, pursuant to Section 42 of the Internal Revenue Code of 1986, as amended (the "Code" ) , the City of Evanston, an t;, Illinois home rule jurisdiction (the "City") , is authorized to allocate low-income housing tax credits for the purpose of , assisting in the financing of housing for low-income persons and families; and t': ' , WHEREAS, pursuant to Section 7 . 24g of the Illinois Housing Development Act, Ill . Rev. Stat. , Ch. 67-1/2 , Section Y f . 307.24g (1987) (the "Act") and the Code, the Illinois Housing Development Authority (the "Authority" ) is authorized to act as , the State Housing Credit Agency for the purpose of allocating low-income housing tax credits for the State of Illinois ; and v P,! . - _ WHEREAS, the Code limits the total amount of low-income • housing tax credits that may be allocated by all allocators in _ the State of Illinois for the calendar year of 1989 to $14 , 435, 000 (the "State Ceiling" ) ; and WHEREAS, pursuant to the Code, the City' s portion of the 1989 State Ceiling is currently an amount equal to $89, 463 ; Fr IL '.: and WHEREAS, the Authority has informed the City that it anticipates that the demand for low-income housing tax credits will exceed the Authority' s portion of the 1989 State Ceiling; and WHEREAS, the City has determined that it is in its best interests to participate in the allocation of low-income housing tax credits for the purpose of assisting in the financing of housing for low-income persons and families in the City of • Evanston. .h. WHEREAS, the City has not allocated any low-income _ housing tax credits for the calendar year 1989 ; and .F.4; WHEREAS , the City has determined that it is in its best -.- interests not to allocate any low-income housing tax credits 38-R- 89 under the Code during the calendar year of 1989 ; and 38-R 89 WHEREAS, Section 7 . 24g (4) authorizes the Authority to accept and allocate low-income housing tax credits that may be transferred from Illinois home rule jurisdictions ; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EVANSTON THAT: 1 . The City irrevocably transfers to the Authority $89, 463 of its portion of the State Ceiling for the calendar year 1989 . 2. The City shall not allocate low-income housing tax credits for the calendar year of 1989 . 3 . Joan Barr, the Mayor the City, is authorized and directed to transmit a letter to the Authority transferring low-income . housing tax credits on behalf of the City as authorized by this ' Resolution. 4 . The City Clerk is directed to retain in the records of the �' City a copy of this Resolution and the transmittal letter of the Mayor referred to above. 5 . This Resolution supersedes all other Resolutions adopted by the City in connection with the transfer of low-income • housing tax credits and to the extent that any previous Resolution is inconsistent with this Resolution, any such inconsistent Resolution is repealed. I 1:. 6 . This Resolution is effective immediately upon its • adoption. Ft. Mayor • • ATTEST: City Clerk Adopted: , 1989 ate: '3..t;,, %S- -2- Illinois 401 N. Michigan Ave. Writer's Direct Dial Number Housing Suite 900 Development Chicago, Illinois 60611 Authority (312) 836-5200 24 March 1989 Mr. James Cook City Manager City of Elgin 150 Dexter Court Elgin, Illinois 60120 Dear Mr. Cook: As discussed with you today, here is another set of sample documents that will allow the city to cede their low income housing tax credit authority to us for 1989. The City's authority is $90,138. As you know, if it is not used, it is lost. If there is a project that might be developed in Elgin simply send that person to us. We have the staff and program set-up and, if funds are available, we will do everything we can to accomodate them. I 'd like to add that the Authority has closed loans for 176 Elgin families in our single family housing program totaling over $14,500,000. We've also committed $250,000 to the Elgin NHS home rehabilitation program. Our experience with Elgin has been a good one and I hope the Council will consider our request. If there are any questions please call me anytime at 836-5324. Sincerely, Peter Lennon Assistant Director PL:cs •Investing in Development fa Better Housing•Investing in Development for Better Housing•Investing in Development for Better Housing•Investing in Development to Better Housing• 5MehE/ C/rei Sri 7-/im of CITY OF fm/ ORDINANCE NO. WHEREAS, pursuant to Section 42 of the Internal Revenue Code of 1986, as amended (the "Code") , the City of , an Illinois home rule jurisdiction (the "City") , is authorized to allocate low-income housing tax credits for the purpose of assisting in the financing of housing for low-income persons and families; and WHEREAS, pursuant to Section 7.24g of the Illinois Housing Development Act, Ill . Rev. Stat. , Ch. 67-1/2, Section 307.24g (1987) (the "Act") and the Code, the Illinois Housing Development Authority (the "Authority") is authorized to act as the State Housing Credit Agency for the purpose of allocating low- income housing tax credits for the State of Illinois; and WHEREAS, the Code limits the total amount of low-income housing tax credits that may be allocated by all allocators in the State of Illinois for the calendar year of 1989 to $/' 5, ( (the "State Ceiling"); and WHEREAS, pursuant to the Code, the City's portion of the 1989 State Ceiling is currently an amount equal to $ 90/ 436 ; and WHEREAS, the Authority has informed the City that it anticipates that the demand for low-income housing tax credits will exceed the Authority's portion of the 1989 State Ceiling; and WHEREAS, the City has determined that it is in its best interests to participate in the allocation of low-income housing tax credits for the purpose of assisting in the financing of housing for low-income persons and families in the State of Illinois; and WHEREAS, the City has not allocated any low-income housing tax credits for the calendar year 1989; and WHEREAS, the City has determined that it is in its best interests not to allocate any low-income housing tax credits under the Code during the calendar year of 1989; and WHEREAS, Section 7.24g(4) authorizes the Authority to accept and allocate low-income housing tax credits that may be transferred from Illinois home rule jurisdictions; NOW, THEREFORE, BE IT RESOLVED BY THE CITY AS FOLLOWS: 1 . The City irrevocably transfers to the Authority $ of its portion of the State Ceiling for the calendar year 1989. CERTIFICATE OF THE CITY CLERK OF THE CITY OF - I, the undersigned, certify that I am the duly qualified and acting City Clerk of the City of (the "City") and the keeper of its official records and files, and do further certify as follows: 1. Attached to this certificate is a true and correct copy of Ordinance No. (the "Ordinance") which Ordinance was adopted and approved by the City Council of the City at a regular meeting held on- in connection with the City's transfer (the "Transfer") to the Illinois Housing Development Authority of all the City's portion of the 1989 State Ceiling (as defined in the Ordinance) . The meeting at which the Ordinance was adopted was duly called by the Mayor and a quorum was present and acting throughout. 2. Minutes of that meeting, in which the Ordinance is set forth, have been duly entered into the minute book of the City; the Ordinance has not been altered, amended or repealed and is in full force and effect on the date hereof; and no other resolution or ordinance relating to the Transfer has been adopted by the City. 3. The meeting of the City Council of the City at which the Ordinance was adopted was open to the public at all times and was held at a time and place convenient to the public. Actual notice of such meeting was given to the public by posting a notice thereof and a copy of the agenda for such a meeting in a prominent place at the principal office of the City of more than 24 hours prior to such meeting. Copies of such notice and agenda were supplied at the time of posting to all local news media who have submitted a request for them pursuant to law. IN WITNESS WHEREOF, I have executed this certification the day of , 198 . , City Clerk City of (Attorney's Letterhead) (Please Follow This Format Precisely) Date Illinois Housing Development Authority 401 N. Michigan Avenue Suite 900 Chicago, IL 60611 Attention: John Day Gentlemen: I am the attorney for the City of , an Illinois home rule jurisdiction (the "City"). In connection with the City' s transfer (the "Transfer") to you of all of the City's portion of the 1989 State Ceiling (as defined in the Ordinance hereinafter referred to) , I have examined a certified copy of the Ordinance No. adopted by the City Council of the City on (the "Ordinance") , together with such other public records, documents and proceedings as I have deemed relevant and necessary to rendering this opinion. Based on the foregoing, I am of the opinion that: 1. The City Council of the City has the right and power to adopt the Ordinance, and the Ordinance has been duly adopted by the City Council of the City and is in full force and effect in the form in which adopted as of the date thereof. 2. In adopting the Ordinance, the City Council has complied with all procedural requirements required by the laws of the State of Illinois and all requirements, procedural or otherwise, of the City. Very truly yours, 2. The City shall not allocate low-income housing tax credits for the calendar year of 1989. 3. , the Mayor of the City, is authorized and directed to transmit a letter to the Authority transferring low-income housing tax credits on behalf of the City as authorized by this Ordinance. 4. The City Clerk is directed to retain in the records of the City a copy of this Ordinance and the transmittal letter of the Mayor referred to above. 5. This Ordinance supersedes all other Ordinances adopted by the City in connection with the transfer of low-income housing tax credits and to the extent that any previous Ordinance is inconsistent with this Ordinance, any such inconsistent Ordinance is repealed. 6. This Ordinance is effective immediately upon its adoption. Accepted and approved on , 19_ , Mayor ATTEST: , City Clerk -2- TRANSMITTAL LETTER (CITY LETTERHEAD) (PLEASE FOLLOW THIS FORMAT PRECISELY) Date Illinois Housing Development Authority 401 N. Michigan Avenue Suite 900 Chicago, IL 60611 Attention: John Day Gentlemen: I am , Mayor of the City of (the "City") . In connection with the City's transfer (the "Transfer") to you of all of the City's portion of the 1989 State Ceiling (as defined in the Ordinance hereinafter referred to) , I enclose the following: 1. Certified Copy of Ordinance No. of the City (the "Ordinance") adopted on with respect to the Transfer. 2. Certificate of , City Clerk of the City, as to the Ordinance, open meetings and related matters. 3. An opinion of , Corporation Counsel , counsel to the City, as to the validity of proceedings authorizing the Ordinance. Pursuant to the direction given to me in the Ordinance, on behalf of the City, I hereby transmit to you this letter evidencing the Transfer. Very truly yours,