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Item 05B <br />Page 10 of 16 <br />Public Safety <br />Fee <br />Calculation <br />Lot 1 <br />$420,000 <br />$3,500 X 120 units <br />Lot 2 <br />$5,945 <br />10% X ($5.25 X 11,325 sq ft) <br />The Villas will include 120-units of affordable senior housing. In <br />2019, MWF Properties completed the Boulevard Apartments, <br />2901 Mounds View Boulevard, consisting of 60-units of affordable <br />housing (all ages). Between December 2019 and September <br />2021, Boulevard averaged 10 police calls per month. SBM Fire <br />Department had 5 calls (total) since December 2019. <br />This is not an apples -to -apples comparison to The Villa's, but is <br />intended to provide an example of an expected increase in <br />services. <br />Strategic Plan Strategy/Goal: <br />Continue BR&E program, maximize utilization of development space and current list of available <br />sites, encourage land owners to maintain their properties, & consider residential redevelopment <br />Financial Impact: <br />Lot 1 (The Villas) <br />The project is estimated to cost $29 million ($241,000 p/unit). The <br />Developer is requesting Tax Increment Financing (TIF) of <br />$1,770,000. If TIF is approved by the EDA, the owner will <br />continue to pay property taxes on the 2021 value of $699,800. <br />($5,249 annual property taxes). TIF will run through 2049, or until <br />$1,770,000 is reimbursed to the owner (whichever occurs first). <br />Because the project is senior housing, it is not anticipated to <br />contribute additional impacts to ISD 621. <br />The project is anticipate to impact municipal services, e.g. police <br />and fire. <br />Lot 2 (Bio-Clean) No impact. <br />Recommendation: <br />Staff Recommends approval, with conditions. The Preliminary Plat is missing information <br />needed prior to City Council approval (Nov 22). Additional information is needed for the <br />City/Watershed review, which may affect the plat, but is more tied to the building permit for Lot 1 <br />(The Villas). <br />Alternatively, the Planning Commission can table action until its November 17th meeting. Staff <br />would advise tableing, if there is critical information needed in order for the Commission to make <br />a decision. <br />The City Council will conduct a Public Hearing on Monday, November 22nd. A notice will be <br />published in the November 9, 2021 Shoreview Press. Notice will be mailed to property owners <br />o ne IVIUUnUS view V ISIUn <br />A Thriving Desirable Community <br />