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? SZ 1 <br /> westmiester and MSr intend to pursue the devel ccment cf a similar <br /> senior apartment community cn adjacent land cnce this first phase <br /> is unde-way. We would anticipate submitting a formal recuest to <br /> tae city for T_T funding and PUD aporcval at tte time tte phase 11 <br /> proposal is ready to proceed. <br /> 24 ?+TS TC CZTV <br /> The city of Mounds View will accrue a variety or benefits from its <br /> assistance to this property: <br /> -. ) The City wi11 convert a minimal-tax-generating vacant lot <br /> into a tax-generating asset. <br /> 2 . ) The City will help provide its lcng-time residents cn <br /> fixed-incomes an affordable rental alternative. <br /> . . ) Seniors moving into new rental housing will arae-uc <br /> existing housing stock for vcuncer residents to move-in. <br /> 4 . ) Additional residents will help support nearby businesses. <br /> 5 . ) Senior residents will receive an ideal l oca t i cn ad j actin t <br /> to majcr services. _ <br /> 6 . ) The City of rounds .view will receive an architecturally <br /> aesthetic structure which will communicate a ccality <br /> '_mace to the community. <br /> we hope the c_` Mounds ill lock f r t' <br /> a`crem • ' CityView � _avc a _.� cn the <br /> enticited recuests . We lock fc'-ra_.. to ircr cj c with <br /> towards a successful co"^1 a�i ,-.n cf this projet. <br /> Si ice=e2.v, <br /> Ni i c =ir,�certcr,. <br /> President <br /> cc: JcP <br />