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Mounds View EDA November 25, 2019 <br />Regular Meeting Page 4 <br /> <br />their future development. He reported he also spoke with staff and explained MWF was <br />proposing to construct 96 workforce housing units within a four-story building with underground <br />parking. He noted another development could be accommodated on the adjacent site. <br /> <br />Mr. Stokka commented each unit would have two parking stalls underground and the units would <br />be a mix of one, two and three bedrooms. He stated he would be requesting a 15-year TIF note <br />but would be paying $535,000 for the .85 acres of City land. He reviewed several sample <br />elevations on how the proposed building could look with the EDA. <br /> <br />President Mueller thanked Mr. Stokka for his efforts. She asked if the proposal assured the City <br />MWF would be purchasing and developing the entire parcel. Mr. Stokka stated he is proposing <br />to purchase the three acres and would help the City find another user for the other parcel. <br /> <br />President Mueller questioned what type of housing MWF was proposing to build. Mr. Stokka <br />reported he was proposing to construct affordable housing for residents that were making 60% of <br />the area median income or less. He commented further on the great success he has had with The <br />Boulevard development, noting he only had one more unit to fill. <br /> <br />Commissioner Meehlhause asked if the proposed MWF development would be primarily located <br />on the Bauer Welding property. Mr. Stokka stated this was correct. <br /> <br />Executive Director Zikmund inquired when MWF would be able to begin the proposed project. <br />Mr. Stokka stated this project could begin in spring of 2021. <br /> <br />Commissioner Meehlhause questioned why MWF was requesting more units than was done in <br />The Boulevard development. Mr. Stokka stated this was being done given the fact The <br />Boulevard development was so highly successful and to make the project more economically <br />viable. <br /> <br />President Mueller thanked Mr. Stokka for his presentation. <br /> <br />b.) Augusta Development – Senior Housing <br /> <br />Jared Gruett, Augusta Development, introduced himself to the EDA and explained he was <br />proposing to construct senior housing on the Skyline Motel property. He introduced the team <br />members he had present from Augusta Development. He reported he had completed three senior <br />housing developments to date which include Havenwood in Minnetonka, Havenwood of <br />Richfield and Yorkshire of Edina. He stated he was working to approve projects in St. Paul, <br />Maplewood and Plymouth. <br /> <br />Mr. Gruett explained he was proposing to construct 100 age in place senior housing units. He <br />noted these units would include independent, assisted living and memory care units. He reported