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Y�2 Bin3ryvabd <br />11r�epe <br />6,:,i" Rd Co"V F t 2 <br />f'.:77A' <br />631C119a'%4: <br />[isms <br />K <br />rn <br />x <br />R. <br />7'-M si n� p <br />Plymouth Housing Partners, LLC proposes to use $352,709.87 of CDBG funds for site <br />acquisition from the WC HRA for development of a 78 -unit Senior Housing facility with <br />underground parking located in downtown Mahtomedi. This project involves the redevelopment <br />of the former Piccadilly Restaurant site located at the intersection of Stillwater Road (CR 12) <br />and Wildwood Road (State Hwy 244). This site was closed in 2006 and has remained vacant. <br />The project will serve 78 low/mod income senior citizen households (31 % to 80% of AMI), which <br />meet High Priorities in the 2011-2014 Consolidated Plan. The project will also have five <br />handicapped accessible units. <br />The scope of the project includes: acquisition of land for development of a 78 -unit independent <br />senior (62 years of age and older) housing project consisting of 39 one bedroom and 39 two <br />bedroom units. Five units will be handicapped accessible. The site was acquired by the <br />Washington County Housing and Redevelopment Authority who will complete clearance and <br />site remediation that are scheduled for Spring 2014. The property would be sold to this <br />developer and construction would follow in Fall 2013. During our meetings with the developer, <br />Sands Companies, the construction period is approximately 10 months and the proposed <br />construction completion is projected to occur by August 2014. The requested federal funds <br />represent approximately 2% of the total project cost. <br />2013 HOME funds were also reserved to this project to fill some of the remaining funding gap. <br />The total amount of funds Washington County awarded to the project in 2013 totaled <br />$352,709.87, or CDBG funds and $198,013.08 in HOME funds. <br />Based on HUD regulations, the county is not able to commit HOME funds to a project until all <br />other sources of funding are committed. This project did not receive final funds from Minnesota <br />Housing Finance Agency (MHFA) in November 2013 and will need to reapply with the state in <br />