06-08-2022 Council Packet - Laserfiche WebLink

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STAFF REPORT TO: Mayor Keis and Members of the City Council FROM: Chris Heineman, City Administrator DATE: June 8, 2022 RE: Twin Lake Boulevard Housing Project ACTION REQUESTED The City Council is requested to take the following actions: 1) Conduct a Public Hearing on the Issuance and Sale of Multifamily Housing Revenue Note and Approving a Housing Program pursuant to Minnesota Statutes, Chapter 462C 2) Consider Approval of a Resolution approving Issuance and Sale of a Multifamily Housing Revenue Note (Twin Lake Apartments Project), Series 2022, and approving a Housing Program pursuant to Minnesota Statutes, Chapter 462C. BACKGROUND The City Council has been considering a multi-family housing proposal by Reuter Walton for a 60-unit multi-family apartment project north of Twin Lake Boulevard since the fall of 2021. The proposed project is the first of two 60-unit buildings that could be developed on the site. The project will feature a 3-story wood framed structure over one level of underground parking. The project includes several high-end common area amenities including on-site management, fitness center, community room and underground parking all at no additional cost to the residents. The unit mix will be targeted towards working families with children and feature a majority of two-and three-bedroom layouts. Units will have in unit washer and dryer, energy star appliances and open floor plans. The site is currently heavily wooded with mature trees. The buildings will sit more than 30 feet from the north and south property lines. As a result, the project is proposed to be well screened from neighbors to the north and south. At the regular City Council meeting on December 15, 2021, the City Council took the following action. Keis introduced the following resolution and moved its adoption: RESOLUTION NO. 2021-12-153 – ADOPT ORDINANCE 859, AMENDING THE LITTLE CANADA ZONING MAP TO REZONE PID 313022310001 AND PID 313022310002 FROM R-1, SINGLE FAMILY RESIDENTIAL TO R-3, HIGH DENSITY RESIDENTIAL, CONTINGENT UPON A COMPREHENSIVE PLAN AMENDMENT The foregoing resolution was duly seconded by Torkelson. Ayes (4). Nays (1). Fischer. Resolution declared adopted.