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Stille – Keep in mind usage of TIF in future request for just bring the cost down for affordability. Twenty-five years <br />is a long time. <br />Jenson – are remaining 80% of units projected rent level? <br />Brama - private pay units would be market rate. <br />O’Brien – facility will be for those needing assistance, tiered based on need. Subsidized mainly through Medicaid <br />Elderly Waivers, then County assistance. <br />Jenson – Mix of units/any-independent living? <br />O’Brien – yes, independent living would be available, but intended for those needing assistance. <br />Gray – Same type of building as Legacy. <br />Casey – Yes. <br />Gray – what percent of rent is not covered by assistance? <br />O’Brien – dependent on situation of each resident <br />Faust– market study? <br />O’Brien – yes <br />Stille - occupancy of Legacy? <br />O’ Brien - assuming 95% <br />Rude – How far out did market study go in years? <br />O’Brien – anticipated it will go up in demand will peak in 2028-2032 <br />Rude – what is the life of the proposed building? <br />O’Brien - anticipate 30-40 years depending on market needs <br />Stille – Environmental review. <br />Fahning– gas station in 1940’s, then dry cleaner. Phase II review done. Brownfield classification. County funds may <br />be available. Bowling Alley site would need a Phase I completed. <br />Papatola – history of AEON process that led to Trident. <br />Fahning – AEON did not get tax credit, which pushed the project out too far. Terminated agreement for Bremer to <br />move forward. <br />Casey – staff discussed reorienting new Bremer building to face existing commercial. <br />Fahning - Bremer open to other orientation options <br />Rude – discussed need to consider the look and feel of the entrance corridor <br />Faust – discussed history of development in the area <br />Stille – likes gateway feel. Good beginning to frame corridor. <br />Jenson – creative proposal. Would like to see how it comes together. <br />Adjourn: <br />The meeting adjourned at 8:04 p.m. <br /> <br />Minutes respectfully submitted by Mark Casey, City Manager.