11-13-2018 Council Meeting Packet

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11150281v3 A-1 EXHIBIT A NOTICE OF PUBLIC HEARING ON CONSENTING TO THE ISSUANCE OF SENIOR HOUSING FACILITY REVENUE NOTES TO FINANCE A SENIOR HOUSING PROJECT Notice is hereby given that the City Council of the City of Lino Lakes, Minnesota (the “City”) will meet at the City Hall, 600 Town Center Parkway, in the City, at 6:30 P.M. on Monday, December 10, 2018, to consider giving host approval and consent to a housing finance program and the proposal of Heritage Apartments, Inc., a Minnesota nonprofit corporation (the “Borrower”) that the City of Falcon Heights, Minnesota (the “Issuer”) issue its revenue notes (the “Notes”) to finance, in part, the Project described below pursuant to Minnesota Statutes, Chapter 462C, and a joint powers agreement between the City, the Issuer, and the City of Saint Paul, Minnesota. The obligations will be issued, in part, to finance the acquisition, construction and equipping of a multifamily senior housing and health care facility, totaling approximately 106,730 square feet, to be located at 6075 Hodgson Road, in the City (the “Project”). The Lino Lakes Project will be owned and operated by Lyngblomsten Senior Housing, Inc., a Minnesota nonprofit corporation, of which the Borrower is an affiliate. The Project is currently anticipated to consist of the following units: Units Number of Units Approximate Square Footage Per Unit Estimated Initial Rents Per Unit Independent Living: One Bedroom 38 730 $ 1,800 One Bedroom & Den 33 900 $ 2,100 Two Bedroom 32 1,120 $ 2,650 Assisted Living: Studio 16 485 $ 2,975 One Bedroom 18 575 $ 3,275 Memory Care: Memory Care 16 515 $ 3,400 Skilled Nursing Units: One Bedroom (MA/PVT) 24 350 $ 267/day One Bedroom (Medicare/HMO) 24 350 $ 475/day Townhomes: Two Bedroom 30 1,800 $ 3,000