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• An alternative living arrangement for those individuals age 55 and better who want to remain in <br /> the neighborhood but who no longer want the burden associated with maintaining a house. <br /> • Ownership housing. <br /> • Predictable monthly living expenses. <br /> • Greater control of individual financial resources. <br /> • Resale—ease of entry and exit. <br /> • Resident controlled Board of Directors. <br /> • Housing that remains affordable over the long-term. <br /> The development would have a strong team of experience bringing this cooperative to reality, <br /> including the architects at Miller Hanson Partners and the general contractor will be Frana& Sons. <br /> Nichols Development has a strong belief in the importance of lasting relationships and, in addition to <br /> those listed above, has embraced long-term relationships with such organizations as: <br /> • HUD <br /> • AFL-CIO Housing Investment Trust <br /> • Hedlund Engineering <br /> • BDH & Young. <br /> In order to bring this quality senior cooperative housing development to fruition,Nichols <br /> Development, LLC, working with its team of high-quality and experienced partners, will submit the <br /> necessary materials for a planned unit development (PUD) that will be based upon the feedback from <br /> City staff and the Planning Commission. As we move forward with this project, we will also reach out <br /> to the neighboring area to seek out and listen to their input. <br /> To assist you with your review, the following materials have been included with this letter: <br /> • Photographs of Summerhill of Eden Prairie <br /> • Photographs of Summerhill of Bloomington <br /> • Photographs of Summerhill of Apple Valley <br /> • Marketing packet for Summerhill of Maplewood <br /> • Marketing packet for Gramercy Club of Burnsville <br /> • Marketing packet for Gramercy Park of Chaska <br /> • Video tape promoting Summerhill Cooperatives <br /> • A report titled "More than just housing ... Co-op Housing", drafted in partnership by <br /> University of Wisconsin's Center for Cooperatives and Cooperative Development Services, <br /> that clearly defines cooperative housing and how it compares with condominiums, rental and <br /> single-family homes. <br /> I want to thank you for your time and consideration and, should you have any questions or comments, <br /> please do not hesitate to contact me or Dena Meyer, Director of Sales and Marketing, at 952.224.4904 <br /> or Chuck Armstrong, Director of Business Development, at 952.224.4901. <br /> Sincerely <br /> r ; <br /> mothy F. ich is <br /> President <br /> 952.224.4900 <br /> Cc: Kim Moore-Sykes, Assistant City Manager <br />