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02-14-11-R
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02-14-11-R
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10/1/2024 5:00:46 PM
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3/16/2011 9:52:33 AM
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Regular City Council Meeting Minutes
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ARDEN HILLS CITY COUNCIL—February 14, 20l 1 6 rs <br /> 7 B. Approve Resolution 2011-008 in Support of Arden Village HOME/CDBG Application <br /> (continued) <br /> round of tax credit funding. SCI intends to apply for $300,000 in Ramsey County HOME or <br /> CDGB funds. Applications are accepted annually and are due on February 25, 2011. The — <br /> application requires a resolution of support from the City. With the City's March 8, 2010, Iand <br /> use approvals and the June 14, 2010, good faith commitment for up to $225,000 in TIF assistance, — <br /> SCI closed on the purchase of land in December 2010, and is currently pursuing funding to fill its <br /> funding gaps. If SCI is awarded HOME or CDGB funds, and having already received land use <br /> approvals and acquired the land, they should be quite competitive for the next round of MHFA tax <br /> credit funding. An updated letter of support including a restatement of the City's good faith <br /> commitment for TIF assistance will be needed for SCI's June 2011, MHFA tax credit funding <br /> application, which will be requested at a later date. <br /> Mayor Grant clarified the deadline for this application is different from the deadline for the <br /> Housing Tax Credit grant application. — <br /> Community Development Director Hutmacher clarified the grant that is being applied for at <br /> this time is the Ramsey County HOME/CDBG and the deadline for this is February 25, 2011. <br /> The MHFA tax credit funding has two funding cycles with the majority of their funds being <br /> allocated in the June cycle. SCI did receive a small amount of$35,000 from Ramsey County in <br /> November. <br /> Mayor Grant asked if this project was classified as work force housing or affordable housing. <br /> Community Development Director Hutmacher stated the project is classified as work force <br /> housing but the term affordable housing in general includes work force housing. Work force <br /> housing is exclusively for those individuals that are working or have some form of income. <br /> Mr. Jamie Thelen, CEO for Sand Companies, Inc. stated the project is for individuals that have <br /> some form of income and this can include seniors. In other facilities they have built, the one <br /> bedroom design has been popular for seniors and the two and three bedrooms are designed more <br /> for families. He clarified seniors do not have to be working but they must have a form of income. <br /> Councilmember Werner stated there was $1.6 million available with the HOME/CDBG funds. <br /> He asked what the chances were that SCI would be able to secure the $300,000 they would be <br /> requesting. <br /> Mr. Thelen stated he did not know what requests there would be this year. He stated it has been <br /> several years since Arden Hills has received any funds so this may increase the chances that they <br /> are able to receive funds. He stated this application with Ramsey County is the second time SCI <br /> has applied and in June it will be third application for MFHA with last year's application being <br /> the first application in the large allocation round. <br /> Councilmember Holden clarified the only time a person needs to prove income for this <br /> development is at the time of application for an apartment. <br />
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