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Todd Illness <br />December 10, 1997 <br />Page 2 <br />Partnership will update these titles and regulations from time to time, but <br />they shall be in essentially the same form as those presented to the City <br />and dated February 1997. <br />c_ The Partnership pledges it best efforts to maintain the physical appearance <br />of the Project in an appropriate condition so as not to detract from the <br />Project's value. <br />d_ The Partnership pledges to work with the City's law enforcement agency on <br />crime prevention activities with the goal of providing a safe and secure <br />property for the residents and the public. These efforts will include <br />participation in the mime -free multi- housing program as sponsored by the <br />Ramsey Cocmty Sheriffs Department. <br />e_ <br />The Partnership agrees to be an active member of 'Little Canada's Multi - <br />housing Coalition or a similar group should one exist to foster increased <br />communication between multiple family complexes within the area. <br />L. The Partnership will maintain rents at an appropriate market rate. <br />Appropriate is defined as a level which approximates market rents for <br />similar units in the area.. The Partnership shall not allow rents to become <br />unduly low so as to restrict cash flow for ongoing Project maintenance <br />thereby leading to a decline in the quality of the tenants the Project can <br />attract. <br />g The Partnership wIll not seek qualification of the Project under the 4(d) <br />class rate for the taxation of multi - family rental real property. <br />6. Please make reference in (3) Rehabilitation to the rehabilitation work contained <br />in the attachment to be added to the Agreement. <br />7. Please insert at the end of (4) 42(m' Determination the sentence contained in the <br />enclosed Insert B. <br />Please give Joel and me a revised agreement as soon as possible. Joel would like to have <br />the City Council approve the Agreement on December 17. The City needs a final copy <br />by noon on Friday. <br />Very truly yam, <br />Mary L. Ippel <br />Mtt kmg <br />2/2 d LIIZ£L199£'ON/99:41'LS /Z1 91 L5 Ml '7611 COO <br />Page 62 VOHOY{ 9 S09I85 7{083 <br />