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;i =y r - ,. �-�.. <br /> • <br /> rT•.,w` 7a4:i w.. .. i':.%..il.a �a✓...�—� ._ <br /> .. q� -V'4-y�7 J. <br /> :inlZ 1�5''SL r iii..:.+-� ".�...r..{•:t•...qA <br /> MS 's ' <br /> real c s l c t c' s c' r v I c (ys t u g <br /> • <br /> February 2, 1994 <br /> Ms. Samantha Orduno <br /> City Manager <br /> City of Mounds View <br /> --2401 Highway-10 <br /> Mounds View, MN 55112-1499 <br /> RE: SENIOR HOUSING <br /> MOUNDS VIEW, MN <br /> Dear Samantha: <br /> Enclosed is the information you have requested that we submit with <br /> our application for TIF funding and our Planned Unit Development: <br /> 1. ) PUD Application <br /> 2 . ) Resume / Track Record of Developer <br /> 3 . ) Site Plan of Proposed Project • <br /> 4 . ) Project Description <br /> 5 . ) Preliminary Financial Projections <br /> REQUEST <br /> Cur request to the City of Mounds View is 4-fold: <br /> 1. ) we request that the city approve our PUD plan to build an <br /> • 80-unit,-uri_, 3-story senior apartment building as outlined in <br /> the enclosed site plan. The PUD would be condi:.icred <br /> upon the project obtaining adequate TIF funding, tax <br /> credits and debt financing. If said financing is <br /> inadequate, the:e zoni:g would revert 2r t to its existing <br /> classification. <br /> 2 . ) We request that the city grant this project 15 years of <br /> "pay-as-you-go" TIF funding in an amount equal to 90% cf <br /> the tax increment generated from the proposed project. <br /> The 15 years would commence once the property is fully <br /> assessed for real estate taxes, and the precise amount c <br /> TIF funding to <br /> the project would be de_ems;::ed once real <br /> estate taxes have been established. + <br />