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2401 Mounds View Boulevard ● Mounds View, MN 55112 www.moundsviewmn.org www.ci.mounds-view.mn.us Equal Opportunity Employer April 9, 2018 Minnesota Housing Finance Agency 400 Sibley Street, Suite 300 St. Paul, MN 55101-1998 RE: Letter of Support for Newport Midwest, LLC & Journey Home Minnesota The City of Mounds View is supportive of Newport Midwest, LLC & Journey Home Minnesota’s application for Minnesota Housing Tax Credits to construct a 61-unit apartment building (the “Project”) for affordable housing. The City intends to undertake the process of establishing a Tax Increment Financing district supporting the Project, including a 15-year TIF Note in an amount up to $375,000 in principal to address an estimated funding gap for the Project. The City will process the TIF application pursuant to all applicable laws and rules. Mounds View (pop: 12,952) consists of 4.1 square miles, located in the northwest corner of Ramsey County, at the convergence of US Highway 10 and Interstate 35W. The community is bisected by Mounds View Blvd (formerly US Hwy 10), and anchored by the former Twin Cities Army Ammunition Plant (TCAAP), in Arden Hills. The city is characterized by affordable homes ($197,300 median value) on tree-lined streets, primarily built in the 1940’s thru 1960’s. Sixty- seven percent of homes are owner occupied.1 The Project is located near the intersection of Old Highway 8 (County Road 77) and Mustang Drive. The site is currently occupied by a motel, and is adjacent to a 239-unit manufactured home park, and an industrial corridor (light manufacturing and truck terminals). The Old Highway 8 corridor through Mounds View and New Brighton is a jobs corridor. Major employers within the area (NW Ramsey County) include Medtronic, Boston Scientific, Mounds View Public Schools, Wells Fargo, and Deluxe Corporation. The Metropolitan Council’s 2021-2030 Allocation of Affordable Housing Need for Mounds View includes; 9 units <80% AMI, 5 units <50% AMI, and 13 units <30% AMI (27 units total). The Project will accomplish much of the city’s <50% and <30% housing allocations. The Project is ½ mile from two park & ride lots, serving MTC Express Route 250 (Lino Lakes – Minneapolis) and Express Route 860 (Coon Rapids – St. Paul). The Project is served by the Mounds View School District (ISD 621), and specifically Sunnyside Elementary School (1 1/3 mile), Edgewood Middle School (1 mile), and Irondale High School (1 1/3 mile). Sunnyside student reading and math RIT scores measure above the National Norm. 1 American Community Survey, 2012-2016