04-28-1997 - Laserfiche WebLink

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• Page 9 Apnl28, 1997 Mounds View City Council p C q from the Minneapolis Public Housing waiting lisle The second resolution would be in support of the Ramsey County Home Funds for the rehabilitation portio~ of this project. If this resolution is not approved, the funds would not be set aside for Mounds View. Ms. Bennett explained that she has discussed oth~ options with MSP in regard to the rental units, however there is concern that it would affect the financial feasibility of the project. She has also contacted both a commercial and residential developer to obtain 'opinion of the site. The residential developer felt a housing development would work on the site: Commercial developer, however was concerned about the condition of the existing apartment as well as about access off of Highway 10 or Eastwood Ms. Bennett noted that the Economic Development Commission reviewed the concept for this project and passed a resolution on a 6-0 vote as follows: "General support for MSP Real Estate's concept proposal as it pertains to the rehabilitation of Red Oak Apartments and construction of 26 new townhomes. This support is limited to the concepts and land use but there needs to be further evaluation with regards to the management company aad financial analysis. Therefore, not comfortable with a recommendation to support the use of tax increment financing at this time". She noted that the EDC requested that this item be brought back at the May meeting and directed the staff to • get some background regarding the management company and the information analyzed by our tax increment consultant. Ms. Bennett reminded the Council that these resolutions would allow the applicants to enter the annual funding cycle at the public agencies. Ms. Bennett noted an amendment to Resolution No. 5111 and 5112. The final paragraph in Resolution 5111 should be changed to read, "NOW BE TT FURTHER RESOLVED, that ......between the City of Mounds View, the Mounds View Economic Development Authority and the Minneapolis Public Housing Authority ......." The final paragraph in Resolution No. 5112 should be changed to read, "NOW THEREFORE BE Tf RESOLVED, that the City of Mounds View, and the Mounds View Economic Development Authority hereby endorse .... ". Milo Pinkerton, President of MSP Real Estate explained that the present condition of the apartment complex on the site is one of considerable defenred maintenance, numerous police calls, physical deterioration of the parking lot, etc. The land next to the apartment site has been For Sale for a number of years and he feels part of the problem in selling the land is the poor access to the site. He feels their proposal is of the quality that the neighbors will want in that area. They have obtained resident input in the area and have taken their comments into consideration. Peter Bister, of PBDB Architects in Minneapolis presented a diagram of the proposed project. He provided information in regard to the improvements to the existing building as well as descriptions of the proposed townhomes. He also noted changes that have been made to the parking areas and more landscaping added A one-half acre play area was also added which borders Eastwood Road and will serve both the apartment buildings and the proposed townhomes. . Jeff Hugget of MSP Real Estate discussed the input they had received from residents in the area. He noted that many were initially opposed to the proposal, but after obtaining fiuther information, they were in favor of the