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515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(612) 484 -2177 / FAX: (612) 484 -4538 <br />March 19, 1997 <br />TO: Mayor Fahey and Members of the City Council <br />FROM: Kathy Glanzer, Administrative Assistant <br />RE: Dominium <br />MAYOR <br />Michael 1. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaVaile <br />Steve Morel= <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />The City Administrator asked me to contact economic development personnel from other <br />cities in which Dominium has purchased apartment complexes and converted these <br />complexes to affordable housing units. The following are the results of this survey: <br />Brooklyn Center - Brooklyn Center indicated that Dominium purchased a problem <br />complex in their city which was for the most part already 100% affordable housing. <br />Dominium did make the improvements to the property which were agreed upon. <br />However, the city was looking for strong management at the complex in order to resolve <br />existing problems. Management has been a problem; and the city has had to be fairly <br />heavy- handed with Dominium. <br />Brooklyn Park - Staff is unavailable until next Wednesday. I hope to have input from <br />this City in time for the Council meeting. <br />Oakdale — Dominium purchased a market rate apartment complex with tax - exempt <br />financing. They have maintained the complex as market rate. Dominium completely <br />renovated the interiors of the units and put up some garages. The complex was high - <br />crime, but since Dominium took over they have gotten some better tenants into the units <br />and the City is seeing a decline in the crime -rate at the complex. <br />Page 30 <br />