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Planning Case MU2017-001 <br />August 2, 2017 <br />Page 3 <br /> <br />Currently (2017), there are 127 trips southbound on Groveland Rd during the AM peak <br />hour, and 76 trips northbound on Groveland Rd during the PM peak hour. <br /> <br />During peak hours, the apartments are forecasted to generate: <br /> <br />7:30 – 8:30 AM: 4 trips north on Groveland Rd 21 trips south on Groveland Rd <br />4:30 – 5:30 PM: 2 trips north on Groveland Rd 11 trips south on Groveland Rd <br /> <br />The study states (page 5-2) that the project will have minimal impact to the capacity of <br />the Mounds View Blvd & Groveland Rd intersection. Traffic capacity is rated on a Level <br />of Service (LOS) scale, A through F (LOS A = free flow. LOS F = stop & go). The traffic <br />capacity of this intersection is currently rated D in the AM peak hour and E during the <br />PM peak hour. An LOS D or E is considered acceptable by industry standards.2 <br /> <br />Workforce Housing <br />The proposed apartments will include 60-units of affordable workforce housing. <br />Residents will have an income restriction of 60% of the Area Median Income3 (AMI), <br />based on household size. <br /> <br /> <br />Household size 1 2 3 4 5 6 7 8 <br />Max HH Income $36,060 $41,220 $46,380 $51,480 $56,620 $59,760 $63,840 $67,980 <br /># of Apt Bedrooms 1 2 3 4 5 6 <br />Max HH Rent $966 $1,159 $1,338 $1,494 $1,647 $1,801 <br />Est Gross Rent at <br />“Boulevard”4 <br />$784 $942 $1,115 <br />Avg. MV Rent 5 $1,036 $1,282 $1,795 $1,835 <br />Avg. 2016 MV- <br />SLP* Rent 6 <br />$777 $894 $1,304 <br />Avg. 2017 MV- <br />SLP* Rent 7 <br />$803 $902 <br />* MV-SLP = Mounds View – Spring Lake Park prime market area <br /> <br /> <br /> <br />2 Institute of Transportation Engineers (1999). Transportation Planning Handbook, 2nd Addition. Washington D.C. <br />Institute of Transportation Engineers, (p. 208). <br />3 Minnesota Housing Finance Agency, Housing Tax Credits & Tax Exempt Bond Income and Rent Limits, Table I, p. <br />31 [Ramsey County, effective 03-28-2016]. <br />4 Bowen National Research (2017), Preliminary Tax Credit Support – The Boulevard, Pickerington, OH (p. 2) <br />5 Rupert, Craig, Bowen National Research, (2017). Price per sq ft – Mounds View, Minnesota. Re: Preliminary Tax <br />Credit Support – The Boulevard (Mounds View, MN). <br />6 Bujold, M., Wilder, R. (2016). Table 7 Average Rents/Vacancies Trends Primary Market Area Third Quarter 2015. <br />Initial Market Assessment for General Occupancy Market Rate rental housing in Mounds View, MN. <br />7 Bujold, M. (2017). Table 2 Average Rents/Vacancies Trends Mounds View Primary Market Area First Quarter <br />2016 and First Quarter 2017. Market Opinion Letter – Mix/Sizes/Pricing – Crossroad Pointe, Mounds View, MN.