CC PACKET 04102018 - Laserfiche WebLink

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FY 17 Cleanup - 13 The density proposed meets the Comprehensive Plan guidance for Multi-Family Residential properties, and the redevelopment is consistent with the City’s housing goals, which are to achieve the housing goals of the Metropolitan Land Planning Act and Livable Communities Act, to expand housing choices within the City, and integrate new development into existing neighborhoods (as found in their 2008 Comprehensive Plan). Redevelopment plans are attached. 36. Have all of the required local/city approvals necessary for this project to proceed been obtained (planning commission, zoning, etc.) ☐ Yes ☒ No If not, what remains to be done and what is the process for completing the process of obtaining approvals? Preliminary Plat and PUD approval has been granted, the next step will be final plat approval (expected May 2018). 37. What is the estimated cost of the Development (construction costs not including the cleanup costs)? $98,929,989 Of these how much is public? $0 private? $98,929,989 38. Is all of the financing in place for the final development of the site? ☐ Yes ☒ No If yes, attach evidence that funds for the project have been secured. If not, what is the process to secure the funds and the timeline for securing them? The Village is waiting to secure cleanup funding before they can commence construction (expected June/July 2018). Options for construction financing have been identified. Letters of interest from funders are attached. 39. If the site will be redeveloped for residential use, provide the following data: RENTAL: Total number of units 414 Monthly rental cost per unit Building A Independent Senior Housing 1BD (16 units): $1,320/month 1 BD + Den (14 units): $1,935/month 2 BD (12 units): $2,289/month 2BD + Den (19 units): $2,484/month Building B: Assisted Living/Memory Care (“MC”) Senior Housing Studios (11 units): $1,600/month 1BD (51 units): $2,300/month 1BD + Den (35 units): $2,850/month 65