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MOUNDS VIEW 2401 Mounds View Boulevard . Mounds View, MN 55112 www.moundsviewmn.ore April 9, 2018 Minnesota Housing Finance Agency 400 Sibley Street, Suite 300 St. Paul, MN 55101-1998 RE: Letter of Support for Newport Midwest, LLC & Journey Home Minnesota The City of Mounds View is supportive of Newport Midwest, LLC & Journey Home Minnesota's application for Minnesota Housing Tax Credits to construct a 61 -unit apartment building (the "Project") for affordable housing. The City intends to undertake the process of establishing a Tax Increment Financing district supporting the Project, including a 15 -year TIF Note in an amount up to $375,000 in principal to address an estimated funding gap for the Project. The City will process the TIF application pursuant to all applicable laws and rules. Mounds View is located in the northwest corner of Ramsey County, at the convergence of US Highway 10 and Interstate 35W. The City's Population (2015) is 12,914. The City is nearly built out, and is characterized by single- family homes on large lots, with scattered site multi -family apartment complexes and businesses located along the Mounds View Boulevard corridor. The proposed project is located along Old Hwy 8 and Mustang Drive. The neighborhood is characterized by a mix of mobile homes and industrial businesses along Mustang Drive. The project is two blocks from the Mermaid MTC transit stop connecting downtown Minneapolis and approximately three blocks from the MTC transit stop connecting downtown St. Paul, MN. Edgewood Middle School is one mile away, Irondale High School, approximately 1.3 miles, and Sunnyside Elementary School, a 12 minute walk from the proposed housing development with a nearby walking trail. In 2016, the City completed a paved trail along Mounds View Boulevard with connections to the existing restaurants, library, City Hall, and shopping & entertainment areas. The trail also crosses over 1-35W from Mounds View, MN to Arden Hills, MN on the eastern edge of town, connecting to the planned 427 -acre Rice Creek Commons site (TCAAP) and the Rice Creek Regional Trail. School -aged residents of the proposed 60 -unit apartment project will attend school in the highly -regarded Mounds View School District (ISD 621), which includes Pinewood Elementary, Edgewood Middle and Irondale High schools. These schools include two teachers nominated by Education Minnesota for Teacher of the Year (2017). In addition, ISD 621 produced ten National Merit Scholars in the 2015/2016 school year. Within Mounds View, major employers (and number of employees) include Medtronic (4,100), Sysco (470), MultiTech Systems (200), Midwest Medical Systems (142) and Allina Ambulance (140). Other employment corridors, such as Central & University Avenues, and the US Highway 10, 1-35W, and 1-694 triangle, are located in neighboring cities. Mounds View is a community of neighborhoods, quality schools, places of worship, and convenient access to interstates. It is our desire that the residents of this workforce housing project will remain in the City of Mounds View and continue to be a part of our community as the families' incomes increase above the median income eligibility thresholds. Sincerely, Carol A. Mueller Mayor, City of Mounds View www.ci.mounds-view.mn.us Equal Opportunity Employer 498826v3 MU205-47