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Item 05A <br />Page 5 of 5 <br /> <br />The Mounds View Vision <br />A Thriving Desirable Community <br /> <br />Mounds View’s median household income is $67,402, and median <br />household size is 2.68 persons. <br /> <br />The project works toward the Comprehensive Plan’s goal for <br />Affordable Housing. In Staff’s opinion, the project should include <br />units for earners less than 30% AMI. This project should provide <br />an option for existing Mounds View residents to age in place <br />within the community, and encourage turn-over of single-family <br />homes. <br /> <br />SUMMARY: <br />MWF Properties has submitted a Concept Plan for a 120-unit apartment building. A Concept <br />Plan does not require the level of detail expected for a formal Development Review. Planning <br />Commissioners are asked to provide individual opinions or suggestions to the Developer, <br />addressing any of the items above. All comments are non-binding. <br /> <br />The Concept Plan exceeds the following minimal requirements: <br /> <br />1. Exterior Materials. <br />2. Provides Affordable Housing. <br /> <br />The Concept Plan includes the following deficiencies: <br /> <br />1. Exceeds allowed density; 120-units are proposed, whereas 103-units permitted by the <br />2020 Comprehensive Plan (30-units p/acre). <br />2. Reduction in Usable Open Space, from 625 sq ft per unit (1.72 acres), to approximately <br />470 sq ft per unit (1.29 acres north of the driveway). <br />3. Reduction in parking. <br /> <br /> <br />Strategic Plan Strategy/Goal: <br />Support Redevelopment & Development Recruitment Efforts <br /> <br />Financial Impact: <br />TBD <br /> <br />Recommendation: <br />Staff requests that individual Planning Commissioners provide comments of what their <br />expectations are for this project. As a Planned Unit Development (PUD), the City may approve <br />the project with deficiencies from the City Code, but with the expectation that the project <br />exceeds other standards. In this case, the project is providing much needed affordable housing <br /> <br />Respectfully, <br /> Jon Sevald, AICP <br />Community Development Director <br /> <br />ATTACHED <br />General Concept Plan, July 12, 2021 <br />Exterior Example <br />Income Limits and Maximum Rents; Table N (MN Housing Finance Agency)