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<br />Item No: 3 <br />Meeting Date: Mar 6, 2017 <br />Type of Business: Work Session <br />Administrator Review : ____ <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Brian Beeman, Business Development Coordinator <br />Jon Sevald, Planner <br />Item Title/Subject: Discussion with MWF Properties regarding potential multi-family <br />residential project <br /> <br />Introduction: <br />Chris Stokka of MWF Properties will be presenting an update on a potential 60-unit multi-family <br />residential project on the northwest corner of Mounds View Blvd. & Groveland Rd. The <br />presentation will cover: <br /> <br />• Preliminary site plan & building elevations <br />• February 16th neighborhood meeting <br />• City’s involvement with land acquisition of tax forfeit properties <br />• Request for City’s participation with Tax Increment Financing (TIF) <br /> <br />Discussion: <br />MWF previously presented at the January 3, 2017 City Council Work Session. Their project will <br />provide workforce housing, with an income limit of 60% of the area median income. 1 <br /> <br />Household size 1 2 3 4 5 6 7 8 <br />Max HH Income $36,060 $41,220 $46,380 $51,480 $56,620 $59,760 $63,840 $67,980 <br /># of Bedrooms 1 2 3 4 5 6 <br />Max HH Rent $966 $1,159 $1,338 $1,494 $1,647 $1,801 <br /> <br />The project will eventually require: <br /> <br />• Resolution supporting creation of a Housing Tax Increment Financing (TIF) District <br />• Rezoning tax forfeit properties from R-1 & B-3 to R-4 <br />• Conditional Use Permit for a Multiple Family Dwelling <br />• Development Review <br />• Preliminary & Final Plat approval <br />• Adoption of a TIF District <br />• Land sale from County to City, & from City to MWF <br />• Financial assistance from the Minnesota Housing Finance Agency <br /> <br />Recommendation: <br />Staff requests that the Council ask questions, provide direction if the Council is willing to <br />consider establishing a TIF District, and provide comments on the site plan and appearance of <br />the proposed apartment building. <br /> <br />Respectfully submitted, <br /> <br />____________________ ____________________ <br />Brian Beeman, MPA Jon Sevald, AICP <br />Business Development Coordinator Planner <br /> <br />1 Minnesota Housing Finance Agency, Housing Tax Credits & Tax Exempt Bond Income and Rent Limits, Table 1, P. <br />31 [Ramsey County, effective 03-28-2016].