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October 26, 2021 Page 4 (D) Density transfer. The project density may be clustered, basing density on a number of units per acre in place of specific lot dimensions; and (E) District integration. The combination of uses which are allowed in separate zoning districts such as: 1.Mixed residential uses to allow both densities and unit types to be varied within the project; 2.Mixed residential uses with increased density based upon the greater sensitivity of PUD projects to regulation; and 3.Mixed land uses with the integration of compatible land uses within the project. Processing. To accommodate the requested PUD amendment, a two-stage review process is required. The initial application approved in September was the Preliminary PUD Plan stage. Preliminary Plan approval is similar to a rezoning in that it establishes that the proposed use is appropriate for the subject site. Also, as part of Preliminary Plan review, various conditions of approval are typically imposed. The Preliminary Plan was reviewed by the Planning Commission at a public hearing, review and then approved by the City Council. The second stage, currently before the Council, is the Final PUD Plan which serves to implement the various conditions of Preliminary Plan approval and ensure that such conditions have been satisfied. The Final Plan is reviewed by the City Council for adoption as an ordinance. No public hearing is required for Final Plan. Comprehensive Plan. The Metropolitan Council has classified St. Anthony Village as an “urban community.” “Urban communities” are expected to plan for forecasted population and household growth at average densities of at least 10 units per acre for new development and redevelopment. In addition, “urban communities” are expected to target opportunities for intensive development near regional transit investments. The City’s 2040 Comprehensive Plan identifies the subject properties as important redevelopment opportunities. Recognizing that the City is expected to accommodate an increase in population and that little to no vacant land presently exists, redevelopment of previously developed sites is considered the primary means of achieving the City’s residential density objectives. The proposed redevelopment project is considered consistent with the City’s 2040 Comprehensive Plan. Interstate’s goal is to create workforce attainable housing without the utilization of TIF, grants, tax credits or subsidy from government and nongovernment agencies. Interstate is currently targeting rents ranging from $1,300 / month for a 1-bedroom unit and $2,350 for a 3-bedroom unit.