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MINUTES <br />CITY COUNCIL <br />JUNE 12, 1990 <br />The foreqoing resolution was duly seoonded by Blesener. <br />Ayes (5) LaValle, Blesener, Collova, Fahey, Scalze. <br />Nays (0). <br />Resolution declared adopted. <br />SENIOR Mr. Armand Brachman, Dominium Group, appeared before <br />CITIZEN the Council regarding his proposal to construct a <br />HoUSING - senior citizen apartment building adjacent to the <br />DOMINIUM Garden Terrace senior building. Brachman reported that <br />GROUP a market study was conducted to determine the need for <br />market-rate senior housing in the area, and this study <br />has been submitted to the Council for their review. <br />Brachman reported that the study came back supporting <br />the need for market-rate senior housing. The study <br />also makes recommendations on the rent structure that <br />the area would support, plus unit mix. <br />Brachman reported that his group originally proposed a <br />108-unit building. The market study indicates that the <br />area could support 96 to 100 units. Of these units, <br />70% should be one-bedroom and 30% two-bedroom. <br />Brachman reported that he would comply with these <br />recommendations. <br />Brachman informed the Council that he has taken the <br />numbers recommended in the study and worked out some <br />performas, and it is still apparent that in order for <br />the project to move forward, some type of assistance <br />would be necessary from the City. Brachman reported <br />that he is aware of the changes that the Legislature <br />made in the TIF laws. However, he would still like to <br />explore TIF as a possibility, in a lesser amount of <br />assistance than previously sugqested. Brachman <br />reported that he is also looking at the possibility of <br />the project being a joint venture with a not-for-profit <br />organization. <br />Brachman reported that at this point he would like to <br />request the Council to authorize staff to work with him <br />to put together a financial scenario that would allow <br />the project to be financially feasible. <br />Fahey felt that the first item that needs to be <br />addressed is the number of units. Secondly, Fahey felt <br />that Mr. Brachman would have to agree to pick up City <br />consultant costs that would be incurred as part of this <br />study. <br />Scalze stated that she did not have a problem with the <br />number of units suggested by the study since the report <br />Page 5 <br />