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Item No. IC <br /> Staff Report No. <br /> Meeting Date: June 22, 1998 <br /> Type of Business: PH& CB <br /> WK: Work Session;PH:Public Hearing; <br /> CA:Consent Agenda;CB:Council Business <br /> City of Mounds View Staff Report <br /> To: Honorable Mayor and City Council <br /> From: James Ericson, Planning Associate <br /> Item Title/Subject: Public Hearing and Consideration of Resolution No. 5243, a <br /> Resolution Approving a PUD Amendment to the Silverview Estates <br /> PUD and Development Review for a Senior Cooperative Housing <br /> Development. Planning Case No. 530-98. <br /> Date of Report: June 18, 1998 <br /> Background: <br /> On December 8, 1997, the City Council approved Resolution 5184, a resolution approving the <br /> development stage plan of the Silverview Estates PUD. Permits have been issued and work is <br /> progressing on the Holiday Stationstore at the corner of Highway 10 and Silver Lake Road. On <br /> May 7, 1998, City Staff met with the applicant, Realife Cooperative of Mounds View and <br /> representatives of Silverview Estates, Inc., to discuss the method by which the existing Silverview <br /> Estates PUD could be amended to allow for an alternative style senior housing component. <br /> Originally planned as an 82-unit senior housing building, the current proposal reduces the number <br /> of units to 77 and changes the ownership structure to cooperative ownership instead of market <br /> rate rental. <br /> This cooperative housing arrangement, according to the applicant's narrative, offers people 62 <br /> years and older a housing alternative that is becoming increasingly popular. The residents own <br /> and operate the development through a non-profit cooperative corporation. The cooperative <br /> approach to housing has been successful because it offers a housing alternative similar to <br /> continuing home ownership. <br /> Discussion: <br /> PUD Amendment: <br /> The PUD document for the approved Silverview Estates will need only minor changes to allow <br /> for the third party developer--Realife Cooperative of Mounds View--to develop the senior <br /> residential component of the PUD as presented in the plans dated 5/31/98. These changes are as <br /> follows: <br />