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Mounds View Planning Commission June 17, 1998 Special Meeting Page 4 minimum because the building owners are the renters." The loan for the building is HUD guaranteed. Before HUD will underwrite the project, the development must be 90 percent presold. Of the proposed development's 77 units, 36 two-bedroom apartments will have a share cost from $17,500 to $22,000. The monthly rents on these 36 units will range from$550 a month to $580 a month. The rent covers all expenses except telephone, electricity and cable. There is a cooperative owned mini-bus to help meet the transportation needs of the residents. There are three 1550 square foot apartments that will rent for $995 with a share cost of$36,000. No rental rate or share fee was given for the remaining 38 one-bedroom apartments. There are four laundry rooms per floor, each containing two washers and two dryers. The use of the laundry rooms is included as part of the rental fee. Each floor has a storage room. The common space available throughout the building totals more that 25,000 square feet. These common spaces include libraries, dining room (food service at the • option of the residents), game rooms, media rooms, craft rooms, and a shop in the basement. Commissioner Brasaemle expressed concerns about the building and parking lot encroaching on the required setbacks. Mr. Hanson stated that because the parking, as shown, had more than the required number of parking stalls, some of these parking stalls could be removed to bring the building in compliance with the setback regulations. Associate.Ericson recommended that Resolution No 552-98 he revised by deleting the reference to a 10 foot parking lot setback and recommended that Resolution No. 553-98 be revised to require the applicant to update the site plans to show a 30-foot parking lot setback to show a fire hydrant on the east side of Silver Lake Road and to show the NURP pond not encroaching into the wetland area. Motion/Second: Brasaemle/Obert to approve Resolution No.552-98, as amended, a resolution recommending to the City Council approval of a PUD amendment as requested by Realife Cooperative of Mounds View, Inc.; Planning Case 530-98. Ayes - 5 Nays - 0 111111 The motion carried.