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2A, Presbyterian Homes Tax Increment Financing Discussion
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2A, Presbyterian Homes Tax Increment Financing Discussion
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10/23/2024 12:14:06 AM
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1/31/2011 1:08:52 PM
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12-06-10 City Council Work Session
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TERM SHEET <br /> CONTRACT FOR PRIVATE DEVELOPMENT <br /> BETWEEN CITY OF ARDEN HILLS AND <br /> PRESBYTERIAN HOMES OF ARDEN HILLS, INC. <br /> 1. Minimum Improvements <br /> Phase IA: 54 units independent living <br /> 36 units assisted living - <br /> 18 units memory care <br /> Phase IB: 40 units of assisted living <br /> 1 S units of memory care <br /> Phase 11: 36 units of independent living (brownstones) <br /> Utility Improvements (sanitary sewer repair on the lake) <br /> County Road D Improvements <br /> 2. Required Construction Timelines <br /> Phase IA: Commence by December 31, 2011 <br /> Complete by December 31, 2013 <br /> Phase IB Commence by May 1, 2013 <br /> Complete by December 31, 2014 <br /> Phase II Commence by December 31, 2014 <br /> Complete by December 31, 2016 <br /> Utility <br /> Improvements: Same as Phase 113 <br /> County Road D <br /> Improvements: Same as Phase 11 <br /> Demolition: Must demolish Lakeview within 6 months after the first <br /> certificate of occupancy for Phase IA. <br /> Must demolish Sutton Place within 6 months after the first <br /> certificate of occupancy for Phase 11. <br />
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