Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
11-28-2022 EDA
CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY MEETING AGENDA MOUNDS VIEW CITY HALL Monday, November 28, 2022 6:30 p.m. 1. CALL TO ORDER 2. ROLL CALL: President Mueller, Vice President Cermak, Commissioner Hull, Commissioner Meehlhause, Commissioner Bergeron 3. APPROVAL OF AGENDA 4. CONSENT AGENDA A. Approval of Minutes: September 26, 2022 5. PUBLIC COMMENT Citizens may speak to issues not on tonight's agenda. Before speaking, please give your full name and address for the minutes. Also, please limit your comments to three minutes. 6. EDA BUSINESS A. EDA Resolution 22-EDA-361, Appointing Members to the Economic Development Commission B. 22-EDA-362, A Resolution Approving a Preliminary Development Agreement with Reuter Walton Development, Ilc by the Mounds View Economic Development Authority 7. REPORTS A. None 8. NEXT EDA MEETING: December 12, 2022 at 6:30 p.m., Mounds View City Hall 9. ADJOURNMENT 1 PROCEEDINGS OF THE MOUNDS VIEW EDA 2 CITY OF MOUNDS VIEW 3 RAMSEY COUNTY, MINNESOTA 4 5 Regular Meeting 6 September 26, 2022 7 Mounds View City Hall 8 2401 Mounds View Boulevard, Mounds View, MN 55112 9 10 11 1. CALL MEETING TO ORDER 12 13 President Mueller called the meeting to order at 6:31 p.m. 14 15 2. ROLL CALL: President Mueller, Vice President Cermak, Commissioner Bergeron 16 Commissioner Hull, Commissioner Meehlhause, and Executive Director Zikmund. 17 18 NOT PRESENT: None. 19 20 3. APPROVAL OF AGENDA 21 22 MOTION/SECOND: Bergeron/Hull. To Approve the September 26, 2022, Agenda as presented. 23 24 Ayes — 5 Nays — 0 Motion carried. 25 26 4. CONSENT AGENDA 27 28 A. September 12, 2022, EDA Minutes. 29 30 MOTION/SECOND: Meehlhause/Cermak. To Approve the Consent Agenda as presented. 31 32 Ayes — 5 Nays — 0 Motion carried. 33 34 5. PUBLIC COMMENT 35 36 None. 37 38 6. EDA BUSINESS 39 40 A. Center for Energy and Environment, Annual Update. 41 42 Assistant City Administrator Beeman reported Jim Hasnik with the Center for Energy and 43 Environment was in attendance to provide the EDA with an update. 44 45 Jim Hasnik, Director of Lending at Center for Energy and Environment, introduced himself to the 46 EDA. He discussed the home improvement programs the CEE offers to Mounds View residents Mounds View EDA September 26, 2022 Regular Meeting Page 2 1 and residents throughout the metro area. He explained five City loans and four other loans had 2 closed this year. He noted several applications were removed, due to the fact bids could not be 3 received for projects. He discussed how interest rates were increasing which was making the City 4 dollars more attractive to homeowners. He thanked the City for their continued partnership with 5 CEE. 6 7 Commissioner Meehlhause asked how many home energy audits CEE had completed for Mounds 8 View residents. Mr. Hasnik stated he did not have this information with him but would report back 9 to the EDA with this information. He then described what was done at a home energy audit. 10 11 Commissioner Meehlhause encouraged residents to consider having a home energy audit 12 completed by CEE. 13 14 B. Resolution 22-EDA-360, Approving a Fourth Amendment to the Loan 15 Origination Agreement with Center for Energy and Environment. 16 17 Assistant City Administrator Beeman requested the EDA approve a fourth amendment to the loan 18 origination agreement with the Center for Energy Environment. He commented on the minor 19 changes that were made within the agreement and recommended approval. 20 21 President Mueller asked how the EDA funds these programs. Assistant City Administrator 22 Beeman explained this was done through the EDA levy, a general fund transfer and TIF district 23 transfers. 24 25 MOTION/SECOND: Meehlhause/Hull. To Waive the Reading and Adopt Resolution 22-EDA- 26 360, Approving a Fourth Amendment to the Loan Origination Agreement with Center for Energy 27 and Environment. 28 29 Ayes — 5 Nays — 0 Motion carried. 30 31 7. REPORTS 32 33 None. 34 35 8. NEXT EDA MEETING: Monday, October 10, 2022 at 6:30 p.m. 36 37 9. ADJOURNMENT 38 39 President Mueller adjourned the meeting at 6:48 p.m. 40 41 Respectfully submitted, 42 43 44 Recorded and transcribed by: Mounds View EDA September 26, 2022 Regular Meeting Page 3 1 Heidi Guenther 2 Minute Maker Secretarial MOUNDS 1VIEW City of Mounds View Staff Report Item No: 6A Meeting Date: November 28, 2022 Type of Business: EDA City Administrator Review: To: Economic Development Authority From: Brian Beeman, Assistant City Administrator Item Title/Subject: Resolution 22-EDA-361, Appointing Members to the Economic Development Commission (EDC) Background The Economic Development Commission (EDC) is comprised of seven members — three business representatives and four resident representatives. The terms are three years. Dan Larson and Gary Rundle's terms expire December 31, 2022. According to the Mounds View City Code Section 408.03: The Commission shall be composed of seven (7) equal voting members, including three (3) business representatives and four (4) residents, appointed by the Authority Board of Commissioners based on the recommendation of the Economic Development Commission, from the applications submitted. Members shall have diverse qualifications with practical experience consisting of, not limited to, but including one (1) of the following areas: economics, finance, accounting, real estate, social services and marketing. While Gary Rundle is reapplying for another term, Dan Larson has not submitted his application and has notified the EDC that this will be his last term. However, Andrina Moe has submitted her application for a Resident Representative. Discussion Staff received two (2) applications for the resident representative opening, Gary Rundle and Andrina Moe. The EDC considered the applications at their November 17th meeting and they are recommending that the EDA consider appointing Gary Rundle and Andrina Moe as the Resident Representatives to the EDC with their terms starting January 1, 2023 and expiring December 31, 2025. Recommendation Consider EDA Resolution 22-EDA-361, a resolution appointing members to the Economic Development Commission (EDC). Respectfully submitted, Brian Beeman Assistant City Administrator Attachment: 22-EDA-361 A Resolution Appointing Members to the Economic Development Commission (EDC) EDA RESOLUTION 22-EDA-361 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA A RESOLUTION APPOINTING MEMBERS TO THE ECONOMIC DEVELOPMENT COMMISSION (EDC) WHEREAS, the Economic Development Commission (EDC) consist of members appointed by the Economic Development Authority (EDA); and and WHEREAS, there are two (2) vacant seats on the EDC effective January 1, 2023; and WHEREAS, Gary Rundle and Dan Larson's EDC term seats expire on December 31, 2022; WHEREAS, Dan Larson is not applying for an additional term; and WHEREAS, City Staff received two (2) commission applications; and WHEREAS, the EDC considered the applications at their November meeting and is recommending Gary Rundle and Andrina Moe as the Resident Representatives for full three (3) year terms to be appointed to the EDC; NOW, THEREFORE, BE IT RESOLVED, that the EDA does hereby appoint the following below to the EDC: Name Term Expiration Gary Rundle December 31, 2025 Andrina Moe December 31, 2025 Adopted this 28th day of November, 2022. Carol A. Mueller, President Attest: Nyle Zikmund, Executive Director (SEAL) . :0., MOUNDS VIEW City of Mounds View Staff Report Item No: 6B Meeting Date: November 28, 2022 Type of Business: EDA Administrator review: To: EDA President and Commissioners From: Brian Beeman, Assistant City Administrator Item Title/Subject: Resolution 22-EDA-362 A Resolution Approving a Preliminary Development Agreement with Reuter Walton Development, Ilc by the Mounds View Economic Development Authority Background The City Council, at its August 1, 2022 worksession, heard a developer proposal and presentation from Reuter/Walton on an approximately 130 unit workforce housing development located at 2310 Mounds View Boulevard as a Phase I project and another 130 unit market rate development fora Phase II project. Reuter/Walton displayed a concept map and the City Council discussed the project and asked questions as appropriate. Several developers were unsuccessful in negotiating a purchase agreement with the current land owner. However, Reuter/Walton was able to successfully negotiate a purchase agreement on the land. The City Council through general consensus expressed support to the developers for the project. Therefore, the developers prepared a more formal proposal for the August 22, 2022 EDA regular meeting. The EDA, at its August 22, 2022 regular meeting, heard and discussed a developer proposal from Reuter Walton who at the time was seeking to construct approximately 130 units, (now 140 units) of workforce housing on the large lot southeast of the Bel Rea Senior Living facility. Reuter/Walton has applied for Low Income Housing Tax Credits (LIHTC) through the State of Minnesota, a grant from Ramsey County, and a Conduit Bond through the City of Mounds View, (typically generating approximately 1 % issuance fee or about $20,000 for this project) as well as a Housing TIF. The EDA asked about management, financing, and a variety of other questions about the project. The EDA acknowledged how difficult it has been for other developers negotiating with the current land owner for the past several years and passed a motion showing support for the project. Motion passed (3 - 2). The Planning Commission, at its November 2, 2022 regular meeting passed a unanimous resolution (6 - 0) recommending approval of amending the zoning map for 2310 Mounds View Boulevard; Preliminary Plat of Woodale Apartments; Planned Unit Development; and Development Review, directing staff and the applicant to provide further information regarding landscaping, proof of parking, snow removal, traffic and exterior lighting. Kennedy & Graven, the City's attorney, Ehler's, the City's financial consultant, City staff, and Reuter/Walton, the developer, has come to a consensus and has completed the Preliminary Development Agreement, and Financial Memorandum, as well as a resolution, for the EDA's consideration. (Attached) Discussion A Preliminary Development Agreement spells out the general guidelines and parameters for development. Although each party can opt out according to the agreement, the intent is for each party to cooperate in good faith with the goal of completing a final Development Agreement or Contract for Private Development. The agreement spells out addition terms such as the developers responsibilities i.e. preparation and submittal of construction plans, building permits, all land use approvals, permits, city fees like park dedication estimated to be $490,000, the securance of Low Income Housing Tax Credits from Minnesota Housing, etc. The agreement also provides for the EDA's responsibilities such as, the creation of a Tax Increment Financing District and drafting and executing a Development Agreement or Contract for Private Development. Key Terms: • This is a $45,889,986 project with $1,300,000 in acquisition costs and $35,053,900 in constructions costs. (This could change due to material price adjustments and other factors) The remaining balance is for professional services, financing costs, developer fee, and cash accounts/escrows/reserves. • The Conduit Bond is estimated to produce about $20,000 to the City. • It is estimated that about $490,000 will be paid to the City in park dedication fees. • The developer's initial ask was for $2,400,000 in TIF over 26 years, however Ehler's has reviewed the numbers and negotiated to a $1,817,000 TIF 3.9% of the total project costs, not to exceed 20 years. (This could change due to construction costs and other factor, however the 20 year maximum is part of the preliminary development agreement) • A minimum market value assessment of $28,700,000 for January 2, 2026 for taxes payable in 2027 is in the agreement which protects the City in case of a decrease in valuation. • Close by July 7, 2023 land, financing etc. • Construction must commence by August 1, 2023, and be completed by April 30, 2025. • A lookback clause has been included allowing the City to reduce public assistance by 50% of such deficiency if the total development costs actually incurred is less than the amount of estimated total development costs. The principal amount of the TIF Note will be adjusted accordingly. • The developer has made an initial escrow deposit to the City of $10,000 for legal and financial consultant services. The developer may be required to deposit up to $30,000 more for public subsidies, drafting of the Development Agreement or Contract for Private Development, analysis, and administrative fees associated with this project. • The developer is required to deposit $5,000 in fees incurred by the City or the EDA for bond counsel services. • The developer is also required to deposit additional funds in the initial escrow deposit or subsequent deposits as needed. • The City acknowledges that the developer is required to take certain actions such as zoning, land use and other land & development actions and is requesting public assistance and will review any TIF arrangement, or other business subsidy, as required by law. The EDA to review and consider 22-EDA-362, A Resolution Approving a Preliminary Development Agreement between Reuter/Walton and the Economic Development Authority, and ask any questions as necessary. The City's legal and financial consultants will be available for questions if needed. Strategic Plan Strategy/Goals • Maintain a positive business climate where businesses want to locate and remain in mounds view. Finance top redevelopment areas Industrial/Commercial/Residential. ;- Support the development of a variety of housing stocks that includes affordable and market rate and the maintenance of properties. ➢ Continue supporting tax increment financing as an economic development tool ➢ Consider more town homes and affordable apartments and other housing options ➢ Ensure the attraction of affordable housing opportunities across all demographics Financial Impact $45,889,986 project ($28,700,000 minimum market value assessment) $49,867 estimated in new taxes generated annually captured by TIF until note paid off $20,000 estimated in Conduit Bond revenue to the City $490,000 estimated to be paid to the City in park dedication fees $366,983 estimated to be paid to the City/EDA in TIF Administrative fees through 20 years Recommendation Staff, and the City's legal & financial consultants recommend that the EDA review and consider 22-EDA-362, A Resolution Approving a Preliminary Development Agreement with Reuter/Walton by the Mounds View EDA via a motion. Respectfully submitted, Brian Beeman Assistant City Administrator Attachment(s): 1) Resolution 22-EDA-362 2) Preliminary Development Agreement with Reuter/Walton 3) Ehler's Financial Memorandum 4) Development & Landscape Concepts The Mounds View Vision A Thriving Desirable Community EDA RESOLUTION 22-EDA-362 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING A PRELIMINARY DEVELOPMENT AGREEMENT WITH REUTER WALTON DEVELOPMENT, LLC BY THE MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY WHEREAS, Reuter Walton Development, LLC, a Minnesota limited liability company (the "Developer") has requested that the Mounds View Economic Development Authority of the City of Mounds View, Minnesota, a public body corporate and politic under the laws of Minnesota ("EDA") enter into a Preliminary Development Agreement with it in order to provide the Developer with certain rights and obligations to facilitate the redevelopment of the WOODALE APARTMENTS Project Area (the "Project"); and WHEREAS, the EDA has found and determined that entering into a Preliminary Development Agreement with the Developer is in the public interest. NOW, THEREFORE, BE IT RESOLVED by the Mounds View Economic Development Authority of the City of Mounds View, Minnesota as follows: 1. That the above -referenced recitals are incorporated into this Resolution. 2. The EDA approves the Preliminary Development Agreement, subject to modifications that do not alter the substance of the transaction and that are approved by the EDA Attorney, provided that execution of the Preliminary Development Agreement shall be conclusive evidence of approval. 3. EDA staff and officials are authorized to take all actions necessary to perform the EDA's obligations under the Preliminary Development Agreement as a whole. 4. That the Preliminary Development Agreement, contained in Exhibit A of this resolution is hereby approved, ratified, established, amended, and adopted and shall be placed on file at City Hall. Adopted this 28th day of November, 2022. Carol A. Mueller, President ATTEST: Nyle Zikmund, Executive Director (SEAL) 1 DOCSOPEN\MU205\59\840926.v3-11/23/22 EXHIBIT A PRELIMINARY DEVELOPMENT AGREEMENT [Insert Preliminary Development Agreement] A-1 DOCSOPEN\MU205\59\840926.v3-11/23/22 11.23.2022 MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY AND REUTER WALTON DEVELOPMENT, LLC PRELIMINARY DEVELOPMENT AGREEMENT THIS AGREEMENT, dated this day of November, 2022 (the "Effective Date"), by and between the Mounds View Economic Development Authority, a public body corporate and politic under the laws of Minnesota ("EDA") and Reuter Walton Development, LLC, a Minnesota limited liability company ("Developer") or its assigns: WITNESSETH: WHEREAS, the EDA desires to promote development of certain property currently owned by private parties which is located at 2310 Mounds View Boulevard, in the City of Mounds View, State of Minnesota, which property is legally described and depicted in Exhibit A attached hereto ("Property"); and WHEREAS, Developer, or a special purpose entity to be formed by the Developer for the purpose of completing this project, has submitted or is in the process of submitting a proposal for development of an approximately four-story, 140-unit affordable residential rental housing -- apartment building in addition to one level of underground parking on a portion of the Property ("Development"), which the terms of such proposal are attached hereto as Exhibit B; and WHEREAS, the Development requires that the Property be subdivided pursuant to the plat of WOODALE APARTMENTS (the "Plat"); and WHEREAS, the Developer agrees to cooperate and work with the EDA and City in developing and effectuating the Plat; and WHEREAS, the Development shall occur on the Property located at 2310 Mounds View Boulevard; and WHEREAS, the EDA and Developer are interested in discussing and further planning for the Developer's proposal for the Development; and WHEREAS, the Developer has indicated that it is seeking business subsidy assistance or financial incentives from the City and/or the EDA to make the Development feasible; and WHEREAS, the EDA and/or the City will need to determine if any studies, as may be determined to be reasonably necessary, should be conducted, including without limitation an environmental impact or related study, an infrastructure feasibility study, an economic impact study, and any other studies which are either required by law or deemed appropriate by the EDA and/or City; and WHEREAS, the EDA will continue to discuss and negotiate with the Developer regarding the overall development of the Property; and 1 MU205\59\835592.v10 11.23.2022 WHEREAS, the EDA is willing to discuss with the Developer any public subsidies which may be available for the Development, however, nothing herein shall be interpreted as an approval or guarantee of any future public financial assistance, including but not limited to tax increment financing, tax abatement, business subsidies, or any other public assistance authorized by law; and WHEREAS, various ordinance, land use, zoning, and subdivision issues and actions related to the Development and the Property are required to be approved by the City in order to facilitate the Development by the Developer; and WHEREAS, the EDA agrees to cooperate with the Developer to review and to assist the Developer, where deemed appropriate by the EDA, with obtaining various ordinance, land use, zoning, and subdivision approvals and actions related to the Development and the Property in order to facilitate the Development by the Developer, provided that nothing herein shall be interpreted as an approval or guarantee of any future land use, zoning, or other required City approvals; and WHEREAS, the EDA is willing to consider and the Developer is desirous to undertake the Development if (i) a satisfactory agreement can be reached regarding the EDA's commitment for public costs, if any, necessary for the Development; (ii) satisfactory mortgage and equity financing, or adequate cash resources for the Development can be secured by Developer; and (iii) the feasibility and soundness of the Development and other necessary preconditions have been determined to the satisfaction of the parties. NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and obligations set forth herein, the parties agree as follows: 1. Future Negotiations. The parties agree to continue negotiations pursuant to the terms of this Agreement in an attempt to formulate a definitive plan for a development agreement based on the following: (a) Developer's proposal, which shows the scope of the proposed Development in its latest form as of the date of this Agreement, together with any changes or modifications required by the City or the EDA; Mutually -satisfactory development agreements or contracts to be negotiated and agreed upon in accordance with negotiations contemplated by this Agreement; (b) Mutually -satisfactory terms that may be required for the Development (e.g. access and utility easements, allocation of infrastructure costs, etc.); and Other terms and conditions of this Agreement. 2. Statement of Intent. Although not conclusive or binding on either party, it is the intention of the parties that this Agreement: (a) documents the present understanding and commitments of the parties; and (b) will lead to the negotiation and execution of a mutually -satisfactory development agreement or contract prior to the termination date of this Agreement. The development agreement (together with any 2 MU205\59\835592.v10 11.23.2022 other agreements entered into between the parties hereto contemporaneously therewith) will supersede all obligations of the parties hereunder. 3. Term; Duties. (a) During the term of this Agreement, the EDA agrees to: (i) Proceed to seek all necessary information with regard to the anticipated public costs, if any, associated with the Development; and Should negotiations be successful, enter into a development agreement and/or contract for private development, satisfactory to the EDA in its sole discretion, with the Developer for the Development. (b) During the term of this Agreement, the Developer agrees to: (i) Develop and submit its detailed proposal, including the plans and specifications, for purchase and development of the Property; Conduct a due diligence review of the portion of the Property included in the Development, including without limitation, which must be acceptable to the Developer in its sole discretion: title, survey, environmental (Phase I & Phase II reports), soils, and market studies; (ii) Obtain approval by the EDA and the City (including its Engineer, Planning and Inspection Department, and any other governing authority) for approval of the site plan, exterior elevations and finishes, and zoning approval; Obtain any other necessary governmental approval from any governing authority; (iii) Obtain financing on terms acceptable to Developer, including but not limited to public subsidies (such as pay-as-you-go TIF in a mutually agreeable amount, and housing tax credits), grants, private loans, or equity investment(s); and Should negotiations be successful, enter into a development agreement and/or contract for private development with the EDA for the Development. 4. Developer Submissions; Business Subsidies; TIF; Housing Tax Credits. (a) The EDA understands that the Developer may be seeking business subsidy assistance from the City and/or the EDA. During the term of this Agreement, Developer shall: (i) Submit to the EDA a design proposal to be reviewed by the EDA showing the location, size, and nature of the proposed Development, including layouts, renderings, elevations, and other graphic or written explanations of the Development. The 3 MU205\59\835592.v10 11.23.2022 design proposal shall be accompanied by a proposed schedule for the starting and completion of the Development; Development; Submit an over-all cost estimate for the design and construction of the (ii) Submit a time schedule for the Development; Undertake and obtain such other preliminary economic feasibility studies, income and expense projections, and such other economic information as Developer may desire to further confirm the economic feasibility and soundness of the Development; (iii) Submit to the EDA the Developer's financing plan showing that the proposed Development is financially feasible; Furnish satisfactory financial data to the EDA evidencing Developer's ability to undertake the Development; and (iv) Furnish information in its possession and assist the EDA with obtaining all available business subsidy assistance which the EDA may deem appropriate. (b) Developer understands that the Tax Increment Financing sought for the proposed Development must be obtained as outlined by law. Developer understands that the Housing Tax Credits sought for the proposed Development must be obtained as outlined by law. 5. Feasibility. It is expressly understood that execution and implementation of any development agreement or contract for private development (together with any other agreements entered into between the parties hereto contemporaneously therewith) shall be subject to: (a) A determination by the EDA in its sole discretion that its undertakings are feasible based on (i) satisfaction of City Code requirements; (ii) the purposes and objectives of any development plan created or proposed for the Development; (iii) the Studies, if any; and (iv) the best interests of the EDA. A determination by Developer that the Development is feasible and in the best interests of Developer. 6. Effective Date; Expiration. This Agreement is effective from the Effective Date until May 31, 2023. After such date, neither party shall have any obligation hereunder except as expressly set forth to the contrary herein. 7. Costs; Escrow. 4 MU205\59\835592.v10 11.23.2022 Developer shall be solely responsible for all costs incurred by Developer. In addition, upon the full execution of this Agreement the Developer has paid the EDA an initial non-refundable sum of $10,000.00 as reimbursement of its Administrative Costs (as defined below) for its evaluation of the Developer's proposal. For the purposes of this Agreement, the term "Administrative Costs" means out of pocket costs incurred by EDA together with staff and consultant (including engineering, legal, financial adviser, environmental advisor, planning advisor, etc.) costs of EDA, all attributable to or incurred in connection with the review of the development agreement or contracts (together with any other agreements entered into between the parties hereto contemporaneously therewith) and review and approvals of any land use, zoning and subdivision applications for the Property, the negotiation and preparation of this Agreement, and other documents and agreements in connection with the Development, excluding Studies that result in the Administrative Costs exceeding the initial $10,000.00 deposit, unless such excess costs are approved by the Developer as provided below. Developer acknowledges that the Developer's proposal will require review by and/or consultation with the EDA's financial advisors, engineers, legal advisors, and other advisors or consultants and staff. Additionally, the EDA may incur expenses of advisors, consultants and staff related to the preparation of the development agreement or contracts for said Development. In addition, Developer shall deposit $5,000 to pay fees incurred by the City or the EDA for bond counsel services to the extent such expenses are not paid from the proceeds of bonds issued by the City. If at any time after full execution and acceptance of this Agreement, the EDA determines that the amount deposited by Developer will be insufficient to pay the EDA's or City's fees and expenses listed above, the EDA may notify the Developer in writing as to any additional amount required to be deposited. The Developer must deposit such additional funds within 10 business days after receipt of the EDA's notice. Any additional funds beyond the initial non-refundable $10,000.00 deposited by Developer and not expended by the EDA for its Administrative Costs will be returned to the Developer on the Closing Date. Any public subsidies applied for by the Developer will require separate application fees and deposits from the fees stated in this Agreement as it pertains to the appropriate public subsidy application. Up to an additional $30,000.00 subsequent deposit will need to be made at the time application is made with the EDA and City for public subsidies, particularly when Developer and the City and EDA agree to move forward with creation of the TIF district for the Property. The foregoing funds will not be credited towards the purchase price or returned if the transaction does not close. This Section 7 shall survive termination of this Agreement and shall be binding on the Developer and the EDA regardless of the enforceability of any other provision of this Agreement. 8. Termination. This Agreement may be terminated if Developer ceases to negotiate in good faith with the EDA, and such failure to negotiate in good faith is not cured after 30 days written notice of such failure by EDA to Developer. 9. Sole Developer. The Developer is designated as sole developer and shall have exclusive rights of the Development of the Property through the entire term of this Agreement (the "Term"), with the following tentative Development milestone dates• finance closing to occur by July 7, 2023, 5 MU205\59\835592.v10 11.23.2022 commencement of construction to begin by August 1, 2023, and completion of construction to occur by April 30, 2025. 10. Severability. If any portion of this Agreement is held invalid by a court of competent jurisdiction, such decision shall not affect the validity of any remaining portion of the Agreement. 11. Breach; Waiver. In the event any covenant contained in this Agreement should be breached by one party and subsequently waived by another party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other concurrent, previous, or subsequent breach. 12. Notice. Notice or demand or other communication between or among the parties shall be sufficiently given if sent by mail, postage prepaid, return receipt requested or delivered personally: (a) As to EDA: Mounds View Economic Development Authority 2401 Mounds View Boulevard Mounds View, MN 55112 Attn: Executive Director (b) As to Developer: Reuter Walton Development, LLC 4450 Excelsior Boulevard, #400 St. Louis Park, MN 55416 Attn: Nick Walton, Manager 13. Counterparts. This Agreement may be executed simultaneously in any number of counterparts, all of which shall constitute one and the same instrument. 14. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the state of Minnesota. Any disputes, controversies, or claims arising out of this Agreement shall be heard in the state or federal courts of Minnesota, and all parties to this Agreement waive any objection to the jurisdiction of these courts, whether based on convenience or otherwise. 6 MU205\59\835592.v10 11.23.2022 15. Additional Actions. The parties hereto understand that additional and separate actions, for which no obligation is created hereunder, will be required before either the EDA or Developer is obligated to take various actions with respect to the Development. Those actions include, but are not limited to: (a) Zoning, comprehensive plan, and subdivision approvals for any land use or development proposed by Developer; and Review of any Tax Increment Financing arrangement, or other business subsidy, as required by law. 16. Incorporation. The Recitals set forth in the preamble to this Agreement and the Exhibits attached to this Agreement are incorporated into this Agreement as if fully set forth herein. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 7 MU205\59\835592.v10 11.23.2022 IN WITNESS WHEREOF, the Developer has caused this Agreement to be duly executed in its name and behalf and the EDA has caused this Agreement to be duly executed in its name and behalf as of the day and year first above written. DEVELOPER: REUTER WALTON DEVELOPMENT, LLC By: Nick Walton Its: Manager EDA: MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY By: Carol Mueller Its: President By: Nyle Zikmund Its: Executive Director 8 MU205\59\835592.v10 11.23.2022 EXHIBIT A DESCRIPTION/DEPICTION OF PROPERTY The property located at 2310 Mounds View Boulevard, Mounds View, Minnesota, as depicted below. Parcel 1: That part of the East 223 feet of the Northeast Quarter of the Southwest Quarter of Section 8, Township 30, Range 23, lying Southerly of the center line of State Trunk Highway #10-62. Ramsey County, Minnesota Abstract Property PID No.: 08.30.23.31.0075 A-1 MU205\59\835592.v10 11.23.2022 EXHIBIT B DEVELOPMENT PROPOSAL — TERM SHEET This Term Sheet is intended to set forth the general terms upon which the parties hereto may be willing to enter into a Development Agreement. Except for Section 10 below (which shall be binding upon the Developer), this Term Sheet shall not be deemed conclusive or legally binding upon either party and neither party shall have any obligations regarding the property defined below unless and until a definitive Development Agreement or Contract for Private Development is approved by the EDA and executed by both parties. 1. Developer: Reuter Walton 2. Property: 2310 Mounds View Blvd (PID: 83023310075) 3. Key Business Terms — Developer: a. Execution of Development Agreement or Contract for Private Development b. Preparation and Submittal of Construction Plans and receipt of Building Permit c. Obtain all land use approvals, permits necessary to construct the project, and payment of customary City fees including park dedication fees estimated at $490,000 d. Secure Low Income Housing Tax Credits from Minnesota Housing 4. Key Business Terms — EDA: a. Creation of a new Tax Increment Financing District for the project, subject to qualification as a Housing Tax Increment District b. Drafting and execution of Development Agreement or Contract for Private Development 5. Minimum Improvements: Construction of a 4-story building with approximately 140 units of affordable rental housing and related amenities. 6. Schedule: Close on financing by July 7, 2023, Commence construction by August 1, 2023, and Complete construction by April 30, 2025. For the purpose hereof, "Commence" shall mean beginning of physical improvement to the Property, including demolition, grading, excavation, or other physical site preparation work. "Complete" shall mean that the Minimum Improvements are sufficiently complete for the issuance of a Certificate of Occupancy. 7. Public Assistance: Subject to all terms and conditions of the Development Agreement or Contract for Private Development, the EDA will reimburse the Developer through Available Tax Increment for up to a total of approximately $1,817,000 (Present Value) of B-1 MU205\59\835592.v10 11.23.2022 Qualified Costs related to the Minimum Improvements. "Qualified Costs" shall mean acquisition, construction of affordable housing, demolition, remediation, site improvement and infrastructure costs incurred in connection with the construction of the Minimum Improvements. Payments will be made through a TIF Note issued on a pay-as- you-go basis over a MAXIMUM of 20 years at a rate the lesser of 5.50% per annum or the rate of the Developer's first mortgage lien. 8. Lookback: The Public Assistance will be subject to a lookback upon construction completion of the Minimum Improvements. If the amount of total development costs actually incurred is less than the amount of estimated total development costs, the Public Assistance will be reduced by 50% of such deficiency and the principal amount of the TIF Note will be adjusted accordingly. 9. Minimum Assessment Agreement: Developer and EDA will enter into a Minimum Market Value Assessment Agreement ("MAA") setting a minimum property tax value for the building of $28,700,000 for January 2, 2026 for taxes payable in 2027. 10. Fees: The City acknowledges the Developer made an initial escrow deposit of $10,000.00 for reasonable out-of-pocket expenses for legal and financial consultant services. Up to an additional $30,000.00 subsequent deposit will need to be made at the time application is made with the EDA and City for public subsidies, particularly when Developer and the City and EDA agree to move forward with creation of the TIF district for the Property, drafting the Development Agreement or Contract for Private Development, analysis, and administrative fees associated with this transaction. In addition, the Developer will be required to deposit additional funds if the initial escrow deposit or subsequent deposits are fully drawn. Any funds deposited by Developer and not expended by the EDA for its legal, financial advisor, or other consultant fees on or before the date of execution of the Development Agreement or Contract for Private Development will be returned to the Developer without interest. The Developer shall pay all other normal and customary EDA fees and expenses, unless otherwise specified in the Development Agreement or Contract for Private Development, for the approval and construction of the Minimum Improvements. 11. Miscellaneous: a. No transfer of Development Agreement without EDA consent. b. Developer covenants to pay property taxes and maintain customary insurance. B-2 MU205\59\835592.v10 MEMORANDUM TO: FROM: DATE: SUBJECT: ...EHLERS PUBLIC FINANCE ADVISORS Brian Beeman, Assistant City Administrator Jason Aarsvold & Schane Rudlang - Ehlers November 22, 2022 Reuter Walton TIF Request - 2310 Mounds View Blvd ("Woodale Apartments") In September 2022, the Mounds View Economic Development Authority (the "EDA") received an application for financial assistance from Reuter Walton Development (the "Developer") requesting Tax Increment Financing (TIF) in the present value amount of $2,400,000 over 26 years. The application detailed a proposal for the construction of a 140-unit affordable tax credit apartment project consisting of 1, 2, and 3-bedroom units. The apartment project would be located 2310 Mounds View Blvd, currently owned by Christen Properties LLC. Ehlers prepared this memorandum, at the request of the EDA and City, to summarize our review of the project, specifically the budget and pro forma based on industry standards for construction, land acquisition, and project costs; as well as to ensure that all development costs, revenues, and expenditures have been appropriately accounted for and considered. Based on our review, the requested TIF assistance is more than what is necessary for the project to be "financially feasible". We've concluded the project could achieve feasibility with TIF assistance up to $1,817,000 an anticipated maximum term of 20-years. The table below provides a synopsis of the sources and uses associated with the project. SOURCES First Mortgage TIF Supported Mortgage Tax Credits Deferred Developer Fee (83% of Total Fee) Local Grants Other Public Sources TOTAL SOURCES Amount 18,675,000 1,817,000 19,244,168 3,628,818 2,500,000 25,000 Pct. 41% 4% 42% 8% 5% 0% Per Unit 133,393 12,979 137,458 25,920 17,857 179 45,889,986 100% 327,786 USES Acquisition Costs Construction Costs Professional Services Financing Costs Developer Fee Cash Accounts/Escrows/Reserves TOTAL USES Amount 1,300,000 35,053,900 1,295,000 3,191,086 4,350,000 700,000 Pct. 3% 76% 3% 7% 9% 2% Per Unit 9,286 250,385 9,250 22,793 31,071 5,000 45,889,986 100% 327,786 BUILDING COMMUNITIES. IT'S WHAT WE DO. E info@ehlers-inc.com 1 (800) 552-1171 www.ehlers-inc.com ...EHLERS PUBLIC FINANCE ADVISORS Pro Forma Analysis: Overall, the information contained in the development pro forma generally meets the expectations of a rental housing project utilizing 4% low-income housing tax credits (LIHTC) and other sources of public financial assistance. 1. Acquisition Costs - The proposed land acquisition cost is anticipated to be $1,300,000, or $9,286 per unit. Similar projects typically range between $10,000 to $18,000 per unit. The cost for land acquisition is acceptable for the project. 2. Total Development Costs (TDC) - The TDC is approximately $45.89 million or $327,786 per unit. Construction costs in the past 9 months have risen precipitously. Under current market conditions, similar projects generally range between $250,000 and $330,000 per unit. 3. Developer Fee - The proposed developer fee is 4,350,000 million, which is 9.5% of the TDC. This is within the typical industry range between 8-10% for LIHTC projects. In addition, the Developer is proposing to defer 84% of its fee to close the financial gap. Instead of being compensated up -front for their time and resources, the Developer will be paid out of available cash flow within the first 10-15 years of operation of the project. 4. Rents - The project will include 14 units affordable to households at or below 30% of the area median income (AMI), and 126-units affordable to households at or below 60% AMI. Rent and income limits are derived by the United States Department of Housing and Urban Development (HUD) on an annual basis and are gross rents, meaning utilities are included in the maximum rent a developer may charge to a qualifying tenant. The incomes and rents noted in the following table are for 2022 and change from year to year. Income Limits by Household Size (2022) 1 2 3 4 5 6 7 8 30% 24 660 28 170 31.680 35-190 38.010 40.830 43.650 46.470 60% 49 320 66 340 63.360 70.380 76.020 81.660 87.300 92.940 Maximum Gross Rents by Bedroom Size (2022) Studio 1 2 3 4 5 . 30% 616 660 792 915 1 020 1 126 1.231 .60% 1.233 1.320 1.584 1.830 2.041 2 263 2.463 5. Operating Expenses - The operating expenses on a per unit basis are $4,243, which is within the typical market range of $3,500 to $4,500 per unit per year. This per unit expense is before management fees, property taxes, and replacement reserves. We conclude the operating expenses are not being overstated for the project. BUILDING COMMUNITIES. IT'S WHAT WE DO. info@ehlers-inc.com 1 (800) 552-1171 www.ehlers-inc.com .EHLERS ii. PUBLIC FINANCE ADVISORS 6. Management Fee - The proposed management fee is 5% of the effective gross income of the project. This is within the typical range of 3% to 5%. 7. Reserves - The annual deposit to replacement reserves is set at $250 per unit per year. Typical deposits to the replacement reserve range between $250 - $450. 8. Low-income Housing Tax Credits (LIHTC) - The developer anticipates tax credit pricing of $0.88 for every $1.00 of available tax credits, which generates approximately $18.68 million of proceeds for the project. Tax credit pricing on many current projects is between $0.85 and $0.95. Based on current conditions, the assumed tax credit equity is reasonable. 9. TIF Note - The requested $2,400,000 of TIF assistance is more than what is necessary for the project to become "financially feasible". We've concluded the project could achieve feasibility with TIF assistance up to $1,817,000 over an anticipated term of 20-years. This represents approximately 3.9% of the total project costs, which is reasonable for a project of this nature. Project Status The project sources outlined by the developer include Low Income Housing Tax Credits and a $2,500,000 grant from Ramsey County ARPA. As of the date of this memorandum, neither funding source has been granted or allocated. If the amount of the sources is different from the proforma that Ehlers reviewed, the level of TIF assistance recommended herein could change. Recommendation: Based on our review of the Developer's current pro forma and under current market conditions, the project may not reasonably be expected to occur solely through private investment within the near future. The cost associated with development of this project is only feasible, in part, through public financial assistance from the EDA. We conclude approving the preliminary development agreement which includes and outlines financial support in an amount not to exceed $1,817,000 is warranted for this project. Please contact Jason Aarsvold or Schane Rudlang at 651-697-8500 with any questions. BUILDING COMMUNITIES. IT'S WHAT WE DO. E info@ehlers-inc.com 1 (800) 552-1171 www.ehlers-inc.com Reuter Walton - Woodale Apartments 2310 Mounds View Blvd, Mounds View, MN 11.01.22 #22-07-C Yi CONTENTS COVER PROJECT SUMMARY SITE PLAN PROJECT DATA FLOOR PLANS - GARAGE & LEVEL 1 FLOOR PLANS - LEVELS 2-3 FLOOR PLANS - LEVEL 4 RENDERINGS RENDERINGS RENDERINGS EXTERIOR MATERIALS EXTERIOR ELEVATIONS EXTERIOR ELEVATIONS EXTERIOR ELEVATIONS EXTERIOR ELEVATIONS SECTION 0.0 0.1 2.0 2.1 3.0 3.1 3.2 5.0 5.1 5.2 6.0 6.1 6.2 6.3 6.4 7.0 COVER Reuter Walton - Woodale Apartments kaas wilson architects 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C PROJECT TEAM DEVELOPMENT Reuter Walton Development 4450 Excelsior Blvd St. Louis Park, MN 55416 (612) 823-3489 ARCHITECT Kaas Wilson Architects 1301American Blvd E, Suite 100 Bloomington, MN 55425 (612) 879-6000 SITE METRICS PARCEL ID 083023310075 ADDRESS 2310 Mounds View Blvd Mounds View, MN 55112 PARCEL AREA 129,783 SQ.FT. (2.9794 ACRES) ZONING R-1 Single -Family Residential PROJECT SUMMARY Reuter Walton - Woodale Apartments kaas wilson architects 0.1 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C I‘ kaas wilson architects N\ PHASE II SURFACE PARKING 4-STORY BUILDING PHASE II - 130 UNIT SITE PLAN 2.0 o 32' SITE PLAN KEY O BUILDING ENTRANCE © GARAGE ENTRANCE © DOG RUN 11 PLAYGROUND 64' Reuter Walton - Woodale Apartments 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C GROSS AREA - TOTAL Level Area Level 4 42,263 ft2 Level 3 42,263 ft2 Level 2 42,263 ft2 Level 1 42,263 ft2 Level -1 42,852 ft2 Grand total 211,904 ft2 PARKING Level Type Count Level 1 Phase I - Surface 80 Level -1 Phase I - Underground 120 200 UNIT MIX - GROSS AREA Name 1 BR Count Unit Gross Area Main Floor Total Area Unit 1-0 32 683 ft2 21,848 ft2 23% Unit 1-2 3 715 ft2 2,144 ft2 2% 35 2BR 23,992 ft2 25% Unit 2-0 42 986 ft2 41,395 ft2 30% Unit 2-1 12 1,043 ft2 12,518 ft2 9% Unit 2-2 4 1,110 ft2 4,440 ft2 3% Unit 2-3 12 927 ft2 11,120 ft2 9% 70 3BR 69,473 ft2 50% Unit 4-0 7 1,254 ft2 8,775 ft2 5% Unit 4-2 4 1,267 ft2 5,067 ft2 3% Unit 4-3 24 1,223 ft2 29,358 ft2 17% 35 43,200 ft2 25% Grand total 140 136,665 ft2 100% PROJECT DATA Reuter Walton - Woodale Apartments kaas wilson architects 2.1 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C Unit 2-1 Unit 2-1 TRASH/RECYLING Level 1 1" = 40'-0" MAIL OFFICE STORAGE/MAINTENENCE BIKE RACKS D1__LILJ D Unit 2-0 Unit 4 3 Jnit 2-0 6.3 TRASH/RECYLING OLevel -1 1" = 40'-0" I‘ kaas wilson architects GARAGE PARKING: 120 STALLS Unit 4-0 1 STORAGE/MAINTENENCE BIKE RACKS 1 STORAGE/MAINTENENCE Unit 2-3 Unit 2-0 i Unit 2-1 rji Unit 1-0 Unit 2-0 Unit 2-2 WORK/STUDY LOUNGE CONFERENCE ROOM 1 4 6.4 FLOOR PLANS - GARAGE & LEVEL 1 Reuter Walton - Woodale Apartments 3.0 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C Unit 2-1 Unit 2-3 GAME ROOM f Unit 2-0 3 STORAGE/MAINTENENCE nit 1-0 9. . Ian 7 I I Ev . ■ :8: - I� um. .' : :a II gym.' , (1 I� fie`` "Isl d U 4 3 litU 4-3 / riF 1 i" TRASH/RECYLING Level 3 1" = 40'-0" Unit 2-3 62 3 ENTERTAINING SUITE Unit 2-1 TRASH/RECYLING OLevel 2 1" = 40'-0" Unit 2-1 Unit 4-3 Unit 2 0 3 STORAGE/MAINTENENCE I Unit 2 Unit 4-2 411 Unit 4-0 ill ID Unit 4-3 1 STORAGE/MAINTENENCE Imtin: . �:-.I �Im:-7 tum , Ell 1.1 ri Unit 1-0 Unit 4-3 6.4 Unit 1-0 WORK/STUDY LOUNGE Unit 1-0 Unit 2-3 rffri Unit 2-0 Unit 4-3 Unit 2-3 Unit 2-1 plUnit 1-0 Unit 2-2 1 Unit 2-1 i Unit 1-0 fiUnit 2-0 Unit 1-0 Unit 2-2 WORK/STUDY LOUNGE BOOK/MEDIA LIBRARY BOOK/MEDIA LIBRARY FLOOR PLANS - LEVELS 2-3 Reuter Walton - Woodale Apartments kaas wilson architects 3.1 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C 3 ENTERTAINING SUITE TRASH/RECYLING OLevel 4 1" = 40'-0" STORAGE/MAINTENENCE WORK/STUDY LOUNGE CONFERENCE ROOM I‘ kaas wilson architects FLOOR PLANS - LEVEL 4 Reuter Walton - Woodale Apartments 3.2 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C I‘ kaas wilson architects Main Entry RENDERINGS Reuter Walton - Woodale Apartments 5.0 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C North East Corner RENDERINGS Reuter Walton - Woodale Apartments kaas wilson architects 5.1 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C North West Corner I‘ kaas wilson architects 5.2 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C EXTERIOR MATERIALS EXTERIOR MATERIALS Material Mark Description 4.1 BRICK - 3 5/8" DARK GRAY BLEND 4.2 CMU - COLORED SMOOTH FACE - COLOR: DARK GRAY 7.1 FIBER CEMENT SIDING - SMOOTH HORIZONTAL LAP - 4" 8", 4" EXPOSURE - COLOR: LIGHT GRAY 7.2 WOODTONE HORIZONTAL SIDING - COLOR: SUMMER WHEAT Image MIEM:73 MIME MI 51 Material Mark Description 7.3 FIBER CEMENT SIDING - SMOOTH HORIZONTAL LAP - 4", 8", 4" EXPOSURE - COLOR: DARK GRAY 7.4 VERTICAL CORRUGATED METAL CLADDING - COLOR: BLACK 8.1 GLAZING Image EXTERIOR MATERIALS Reuter Walton - Woodale Apartments kaas wilson architects 6.0 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C 7.4 Elevation - South 2 1/16" = 1'-0" M 0 Co M co N Elevation - East 1/16" = 1'-0" 42 7.4 Elevation - East 2 1/16" = 1'-0" 4.2 4.2 Truss B 138'-0 3/4" Level 4 129'-11 5/8" Level 3 120'-3 3/4" Level 2 110'-7 7/8" Level 1 100'-0" 6.1 EXTERIOR ELEVATIONS Reuter Walton - Woodale Apartments kaas wilson architects 6.1 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C co LO N M M O N Y. 4.2 Elevation - North End 1/16" = 1'-0" co r- N Elevation - East End 2 1/16" = 1'-0" 4.2 7.4 Truss Br 138'-0 3/4" Level 4 129'-11 5/8" Level 3 120'-3 3/4" Level 2 110'-7 7/8" Level1 100'-0" Elevation - East 3 1/16" = 1'-0" 7 8.1 11 MN 911 4.2 7.2 Elevation - North 2 1/16" = 1'-0" 4.2 8.1 11 M MN ■ 7.4 7.3 m 11 7.1 EXTERIOR ELEVATIONS Reuter Walton - Woodale Apartments kaas wilson architects 6.2 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C 7.4 4.2 41 42 7.4 4.2 • 7.4 7.3 MN ■■ OElevation - West 2 1/16" = 1'-0" 7.4 ■■ 7.1 MN := ■■ 7.4 M EI Elevation - West 1 1/16" = 1'-0" 74 7.4 IIIIIIIIIIIIIIII zii 4.2 4.2 +nu- 7 8.1 4.1 7.3 7.1 4.2 7.4 MOUE 7.2 7.4 7.1 EXTERIOR ELEVATIONS Reuter Walton - Woodale Apartments kaas wilson architects 6.3 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C 9 7.2 9 73 7.4 8.1 4.1 OElevation - North 1/16" = 1'-0" 5.1 OElevation - East End 1/16" = 1'-0" 4.2 10111 1111111111111 Truss Brg. 138'-0 3/4" Level 4 4 129'-115/8" 110- Level3 120'-3 3/4" -!Pr Level 2 110'-7 7/8" Level 1 100'-0" Level -1 88'-8" 4.2 7.4 7.2 I EN Ei] 41 7.1 7.4 I II MI T177 EH Elevation - South 1/16" = 1'-0" ME NM MN 7.3 MN MN 4.2 8.1 7.4 a-� 11 NM ■ ■ IIIIIII � L NM W M MN EN NM 7.4 7 EXTERIOR ELEVATIONS Reuter Walton - Woodale Apartments kaas wilson architects 6.4 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C .60 I‘ kaas wilson architects UNITS UNITS Section 1 3/32" = 1'-0" PARKING GARAGE UNITS \UNITS `111 ;1 UNITS UNITS I � ICI H Truss Brq. 138'-0 3/4" Level 4 iikk 129'-11 5/8" 12 Level 3 0'-3 3/4" Level 2 Ai 110'-7 7/8" Level 1 100'-0" Level -1 alk 88'-8" SECTION Reuter Walton - Woodale Apartments 7.0 2310 Mounds View Blvd, Mounds View, MN 11.01.22 22-07-C ED Z 0 V / 0 FO DOUBLE SHREDDED I DARK BROW BARK MULCH I 0 0 8—QF 1—BS 2—NS- 3—BS 1—NS 2—BS 3—NS \\ 2—BS , 9 2—NS 3—BS 3—NS — 4—BS v v 1.5"-2" MULTICOLORED RIVER ROCK MULCH OVER FILTER FABRIC 6" DEPTH TYP. 19—MFG O. .4 OraT0404,400701Wel erla NW? — 1q rumor , e qu i Ir ■.■m1—RO Sri � AEI =r, *Am- _ 9 0 4 DOUBLE SHREDDED DARK BROW BARK MULCH 1—HL 4—GG PROVIDE 2' STONE MULCH MAINTENANCE STRIP ALONG SPACE BETWEEN BOTTOM OF — WALL AND BACK OF CURB UNDERGROUND STORMWATER TANK REFER TO UTILITY PLAN FOR ADDITIONAL INFORMATION O PROVIDE 2' STONE MULCH MAINTENANCE STRIP ALONG SPACE BETWEEN BOTTOM OF WALL AND BACK OF CURB DOUBLE SHREDDED DARK BROW BARK MULCH 1—RO EL— 8-SJ 41 Liuuluup! � a � � 14—LBS 4—HL SOD AREA, REPAIR DISTURBED AREAS AFTER CONSTRUCTION ACTIVITIES v- v 1 \ \ \ \ \ \ 970 906) 906, \ \ \ \ \ \ \ \ \\ , DOUBLE SHREDDED '/ DARK BROW BARK 0) MULCH PROVIDE 2' STONE MULCH MAINTENANCE STRIP AT TOP OF WALL, ALONG FENCE LINE t✓ SOD AREA PROVIDE MULCH RINGS AROUND BASE OF TREES WITHIN SODDED AREAS TYP. SEE NOTES HYDRANT W/ 89 LF LEAD & 6" G.V. — (2) 45" BENDS SOD AREA 5 CONNECT TO EXISTING —Q WATERMAIN W/8" TEE AND 8" G.V. 8"x6" REDUCER PROVIDE 2' STONE MULCH MAINTENANCE STRIP AT TOP OF WALL, ALONG FENCE LINE LI 8" PVC E00 WATERMAIN IIIIII 1.5"-2" MULTICOLORED RIVER ROCK MULCH OVER FILTER FABRIC 6" DEPTH TYP. — —910 I v V !7 I L I\ 116 LF of 8" PVC C-900 WATERMAIN FO FO 15bO — 904- 11 \--904 -904 ------- 9 0 E ----- 904------ ----900—------------ - 898 ------------ 894-------- _ _ _ _ -------- --892---------- 890 LL [S89°19'21"E 270.98] ALE DRIVE f\ (PUBLIC) 89� E- / Fa FO LANDSCAPE SCHEDULE: QUANTITY KEY COMMON NAME SCIENTIFIC NAME SIZE/ROOT TYPE NOTES OVERSTORY TREES 6 HL Skyline Honey Locust Gleditisia tricanthos var. inermis 'Skycole' 2.5" Cal. B&B Straight Trunk, No V-Crotch 5 RO Red Oak Quercus rubra 2.5" Cal. B&B Straight Trunk, No V-Crotch 4 RM Red Maple Acerx fremanii 'Jeffersred' 2.5" Cal. B&B Straight Trunk, No V-Crotch 3 WO White Oak Quercus alba 2.5" Cal. B&B Straight Trunk, No V-Crotch Total 18 EVERGREEN TREES 15 BS Black Hills Spruce Picea densata 6' ht. B&B Full Form 11 NS Norway Spruce Picea abies 6' ht. B&B Full Form Total 26 ORNAMENTAL TREES 13 TA Techny Arborvitae Thuja occidentalis 'Techny' 6' B&B Full Form Total 13 SHRUBS 13 AB Annabelle Hydrangea Hydrangea arborescens 'Annabelle' 24" Height Cont. Min. 5 canes at ht. spec. 6 AW Anthony Waterer Spirea Spirea x bumalda 'Anthony Waterer' 24" Height Cont. Min. 5 canes at ht. spec. 16 BW Bridalwreath Spirea Spirea x Vanhouttei 'Renaissance' 36" Height Cont. Min. 5 canes at ht. spec. 27 GG Glow Girl Spirea Spirea betulifolia 'TorGold' 24" Height Cont. Min. 5 canes at ht. spec. 8 ID Isanti Dogwood Cornus sericea 'Isanti' 24" Height Cont. Min. 5 canes at ht. spec. 11 MD MedoraJuniper Juniperus scopulorum 'Medora' 5' B&B Full Form 15 MJ MintJulepJuniper Juniperus chinensis 'Sea Green' 48" Height Cont. Full Form 17 QF Quickfire Hydrangea Hydrangea paniculata 'Bulk' 36" Height Cont. Min. 5 canes at ht. spec. 19 SJ ScandiaJuniper Juniperus sabina 'Scandia' 36" Dia. Min. Full Form 16 TS Tor Spirea Spirea betulifolia 'Tor' 24" Height Cont. Min. 5 canes at ht. spec. Total 135 PERENNIALS & ORNAMENTAL G RASSES 22 BES Goldstrum Black Eyed Susan Rudbeckia fulgida 'Goldstrum' 1 Gal. Cont. 4 KFG Karl Foerster Grass Calamagrostis x acutifolia 'Karl Foerster' 3 Gal. Cont. 77 LBS Little Bluestem Schizachrium scoparium 1 Gal. Cont. 42 MFG Miscanthus Flame Grass Miscanthus sinensis 'Purpurascens' 3 Gal. Cont. 35 PCF Purple Coneflower Echinacea purpurea 1 Gal. Cont. LANDSCAPE REQUIREMENTS: REQUIRED OVERSTORY TREES: REQUIRED PLANT MATERIALS PLANT MATERIALS PROVIDED 43,609 S.F. BUILDING AREA 43,609 S.F. / 2000 = 43,609 S.F. BUILDING AREA 43,609 S.F. / 2000 = REQUIRED TREE REPLACEMENT (SEE TREE REMOVALS PLAN L-1.0) 22 DECIDUOUS TREE REQUIRED 22 EVERGREEN TREES REQUIRED 18 TREES PROVIDED 22 EVERGREEN PROVIDED MAXIMUM TREE REPLACEMENTS REQUIRED ON SITE: 10 REPLACEMENT TREES REQUIRED 0 REPLACEMENT TREES PROVIDED REQUIRED ORNAMENTAL TREES: 43,609 S.F. BUILDING AREA 43,609 S.F. / 2000 = 22 ORNAMENTAL TREES REQUIRED 13 ORNAMENTAL TREES PROVIDED REQUIRED SHRUBS: 43,609 S.F. BUILDING AREA 43,609 S.F. / 300 = 145 SHRUBS REQUIRED 135 SHRUBS PROVIDED MINIMUM SIZING OF PLANT MATERIALS: DECIDUOUS TREES: CONIFER TREES: SHRUBS: ORNAMENTAL TREES: 2.5" CALIPER 6' HEIGHT FROM GRADE 24" HEIGHT PLANT 2" CALIPER LANDSCAPE LEGEND Oaf -DO CONIFEROUS TREES ORNAMENTAL TREES SHRUBS PERENNIALS POLY EDGING LANDSCAPING LIMITS 1.5"-2" MULTICOLORED RIVER ROCK MULCH N 0 20 40 80 SCALE IN FEET ALLIANT 733 Marquette Avenue Suite 700 Minneapolis, MN 55402 612.758.3080 www.alliant-inc.com WOODALE APARTMENTS MOUNDS VIEW, MINNESOTA J a 2 co cn Z W 2 a 0 J W W Z W Z z J a LANDSCAPE PLAN I hereby certify that this plan, specification, or report was prepared by me or under my direct supervision and that I am a duly Licensed LANDSCAPE ARCHITECT %ay.*nder`/ the laws of thea4 `Q` MINNESOTA skEJ r. Fo" MAN �s604 M1 C IB'Ecft<, (20 ASLA 10-10-22 26222 Date License No. BY DATE DATE ISSUE 10-7-22 PROGRESS SET 10-10-22 CITY PUD SUBMITTAL PROJECT TEAM DATA DESIGNED: DRAWN: PROJECT NO: DS GPL 220147 L-2.O 0 0 0