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-2- Present to speak for the request were Mike Miller, Assistant Administrator of the • Health Center, and Bill Goblursh representing Juran & Moody, bonding company for the project. Mr. Miller indicated he was now a minor partner and owner of the health center and distributed copies of the promotional literature on Chandler Place which included a sketch of a typical 616 square foot, one bedroom unit which, he said, the majority of the units would be. The architect had been able to provide two more units than had been shown on the original plans for_ the development, the health center partner indicated. Mr. Miller said Health Center officials had no desire to generate a long waiting list of applicants for the units although in spite of a minium of advertising, the project had already generated about a hundred inquiries from interested persons. The Health Center spokesman said he anticipated invitations to bid on the project would be issued by July 15th and the bids awarded sometime in August, so the pro- ject could be up and operating by next April . Mr. Goblursh told Councilmember Marks that, although the financing would be made as Industrial Revenue Bonds, they would actually be issued as Housing Revenue Bonds, which, he added, would be exempt from the usual allocation restrictions. The City would only serve as a conduit for the financing which would constitute no debt for St.. Anthony, Mr. Goblursh said. The Manager indicated the City Housing Plan which the Council had been requested to accept for this project had originally been developed for the Arkell project two years ago but had never been used for that purpose because the developers had decided not to use Housing Revenue Bonds for the Kenzington Project. • Mayor Sundland noted that a portion of the residents in the Chandler Place would be low and moderate income persons and said he was glad to see market rent rates charged for the units instead of endowments, which a senior couple had told him could often turn out to be poor investments if the buyers failed to live long enough to benefit from the large sum required. Councilmember Marks stated that he perceived this project, along with other housing developments the City has started or expects to start in the next few years, would. effectively form a continuum of housing in the City which would fill a gap he believed had been left open for elderly housing. Mr. Miller said the Council might be interested to learn about 40% of the 100 persons who had talked to him about the project were from St. Anthony, with half of those owning their own homes. He saw their move to Chandler Place as freeing up housing for young families in the City. The persons he was referring to, Mr. Miller told Councilmember Enrooth, were between 75 and 80 years of age, living alone, and finding it more and more difficult to take care of themselves in their own homes. The Health Center administrator also anticipated there might be a real interest on the part of elderly who live in the inner city to seek greater security in St. Anthony which is not so far from their own homes. The hearing closed at 7:59 P.M. Motion by Councilmember Marks and seconded by Councilmember Ranallo to adopt the resolution which would accept the City Housing Plan for Chandler Place pursuant to Minnesota Statutes, Chapter 462C. RESOLUTION 85-032 A RESOLUTION ADOPTING A HOUSING PLAN FOR THE CITY OF ST. ANTHONY UNDER MINNESOTA STATUTES, CHAPTER 462C