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MINUTES <br />CITY COUNCIL <br />JULY 24, 1991 <br />Ramsey County. Scalze thanked the Committee members <br />for their time and effort. <br />Collova pointed out past comments about buildings being <br />designed for seniors making them difficult to convert <br />to regular apartment buildings. <br />The Planner stated that it was his personal feeling <br />that the proposal submitted by Presbyterian Homes was <br />more clearly defined as a senior project, and the <br />Stuart proposal would be an easier building to convert. <br />Both groups indicated they would guarantee no <br />conversion during the mortgage, which is estimated at <br />30 years. <br />Collova asked about the group that Presbyterian Homes <br />will tarqet for occupancy. <br />Dan Bolhouse, President and CEO of Presbyterian Homes, <br />reported that they are affiliated with the Presbyterian <br />Church USA and represent 27 different denominations and <br />non-denominations. Presbyterians will not receive any <br />priority for occupancy in their project. Bolhouse <br />reported that his firm has been in the health care <br />business for seniors for the past 36 years. If the <br />project is awarded to Presbyterian Homes, it will <br />remain a senior project. <br />Blesener asked what studies have been done to indicate <br />that a 92 unit building would be feasible. <br />Bolhouse replied that they used the Lee Maxfield study <br />as their basis for the 92 units. If any problem was <br />anticipated in leasinq the building, the project would <br />have been downsized. Bolhouse reported that <br />Presbyterian homes is a not-for-profit organization, <br />and any dollars realized by the project would go back <br />into it. <br />Blesener asked what type of financial assistance <br />Presbyterian Homes is looking for. <br />The City Administrator pointed out that the City has <br />received approval for a Community Development Block <br />Grant of $120,000 if the project proceeds. The <br />developer is also seeking Tax Increment Financing <br />assistance as well as tax-exempt bonds. The <br />Administrator reported that there was some discussion <br />about the City's waiving certain fees, such as park <br />charge, sewer and water connection fees, etc., however, <br />it was the recommendation of the Committee not to waive <br />these. The Committee felt that the project should <br />stand on its own and should not be subsidized through <br />means other than what the project can generate. <br />Collova asked if each building was governed under a <br />Page 14 <br />