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Resolution 8928
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Resolution 8928
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Last modified
6/25/2019 10:08:28 AM
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3/14/2018 9:58:53 AM
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MV City Council
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Livable Communities Project Summary <br />Grant# <br />SG -10103 <br />Type: <br />Local Housing Incentives Account <br />Applicant: <br />City of Mounds View <br />Project Name: <br />Boulevard <br />Project <br />7980 Groveland Road <br />Location: <br />District 10 - Marie <br />Council <br />McCarthy <br />District: <br />$10,135,422 <br />Project Detail <br />Project Overview <br />The Boulevard is a 60 -unit complex located near Highway 10 and <br />Groveland Rd in Mounds View. The development also has convenient <br />access to public transportation and direct access to a system of bike trails. <br />Total housing units <br />60 <br />Affordable units <br />4@ 30% AMI; 56@ 60% AMI <br />Anticipated# bedrooms <br />15-1 IER; 28 - 2 BR; 17-3BR <br />Est. total development cost <br />$14,711,961 <br />Est. private funds leveraged <br />$4,285,961 <br />Est. public funds leveraged <br />$10,135,422 <br />Funding <br />$500,000 <br />LHIA <br />$9,535,422 <br />Minnesota Housing <br />LHIA Match <br />City of Mounds View <br />Other Funding Sources <br />$3,773,535 <br />Syndication Proceeds <br />$500,000 <br />General Partner Loan - Mounds View <br />$100,000 <br />Ramsey County Housing & Redevelopment Authority <br />$1,800 <br />Energy Rebates <br />$510,626 <br />Deferred Developer Fee <br />51531 lv2 MU205-47 <br />Boulevard Project rev. 12112117 <br />
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