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Advisory <br />(1) Silver Lake Commons (1970), 5657 <br />Housinglink reports two housing developments that are funded with <br />Mounds View Blvd; 44 units at 60% AMI <br />Low -Income Housing Tax Credits (LIHTC) that may expire in the 2021 <br />& 5 units at 30% AMI. LIHTC expires <br />to 2030 time period. There are more than 130 units that are <br />2028. (2) Silver Pointe Apartments <br />affordable to households earning 60% Area Median Income, and <br />(1995) (SLP Acquisition LLC), 2701 Co Rd <br />expiration of these tax credits without a preservation plan could <br />I; 83 units at 60% AMI. LIHTC expires <br />result in eviction of these households. <br />2025. The City has no policies or plans to <br />preserve these as affordable. Silver Lake <br />Commons sold in 2018. In the City's <br />opinion, Gentrafication is not likely to <br />occur pre-2040, therefore, it is more <br />likely that as NOLA multi -family housing <br />ownership changes, new owners are <br />unlikely to make drastic changes such <br />that units are no longer affordable. <br />Rather than preserving NOLA, the City- <br />County-ISD 621 should be partnering with <br />others to address underlying poverty <br />causes. <br />Implementation <br />Comment <br />Response <br />The Plan must include a Capital Improvement Program (CIP) for <br />2021-2025 adopted CIP is now included <br />transportation, sewers, parks, water supply, and open space <br />as an Appendix to the Plan. <br />facilities. Specify the timing and sequence of major local public <br />investments. The Plan currently provides a hyperlink to the City's <br />CIP, but the current CIP must be appended to the Plan to be <br />considered complete for review. <br />