03/30/1994 Council Minutes - Laserfiche WebLink

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144 SPECIAL COUNCIL MEETING CITY OF LINO LAKES COUNCIL MINUTES MARCH 30, 1994 DATE TIME STARTED TIME ENDED MEMBERS PRESENT: MEMBERS ABSENT March 30, 1994 6:00 P.M. 7:15 P.M. Reinert, Neal, Kuether, ;Elliott'. Bergeson Staff members present: City Administrator, Randy Schumacher and Clerk -Treasurer Marilyn Anderson. Mr. Roger Derrick and Mr. Mike Saxton were present representing Cottage Homesteads of America. The purpose of the special meeting was to consider the proposal for senior housing on Elm Street from Cottage Homesteads of America, Inc. Mr. Schumacher gave a brief background on the matter noting that the present proposal was outlined for the City Council at their March 9, 1994 work session. The proposal is for a 90 unit senior housing development on a parcel that is currently under consideration for rezoning back to single family residential. The second reading of the ordinance rezoning the property to single family residential was delayed to allow Cottage Homesteads of America to finalize their proposal for senior housing and their financing plan. A portion of the proposal from Homestead Cottages of America requires that the City collect only the fees that would have been generated by the 27 single family development. The difference in the fees between the 27 single family development and the 90 unit senior housing development would help reduce the amount of rent on several units to make them available to low income seniors. Mr. Schumacher and the City Engineer have put together a presentation showing what the City fees are for the 27 unit single family development and what the fees are for the 90 unit senior housing development. A copy of this presentation was given to the Council Members. The difference is approximately $178,695.00. After considering the actual amount of the building permit fees, the final savings would be approximately $141,695.00. PAGE 1 1