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c‘,4/ ru. 99 Y4 canes <br />515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(612) 484 -2177 / FAX: (612) 484 -4538 <br />March 24, 1997 <br />TO: Mayor Fahey and Members of the City Council <br />FROM: Kathy Glanzer, Administrative Assistant <br />RE: Dominium <br />Below is the information that Brooklyn Park provided regarding their experience in <br />working with Dominium. <br />MAYOR <br />Michael 1. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />Brooklyn Park - Dominium purchased 1,140 apartment units in the City in 1995. All of <br />these units were at 100% affordable. The City is currently working with them to <br />demolish about 300 units and convert the remainder into market rate housing. The City <br />has had property management concerns with Dominium. <br />This City indicated that they have approved tax credits which resulted in the conversion <br />of market rate housing to 100% affordable housing. This action resulted in a lot of <br />problems for the City because of the tenant base which then occupied the units. <br />Page 1 <br />