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. <br />. <br />� <br />EN HILLS <br />MEMORANDUM <br />DATE: May 9, 2011 <br />TO: Honorable Mayor & City Counci3members <br />Patrick Klaers, City Administrator <br />FROM: Meagan Beekman, City Planner �`� <br />SUBJECT: Planning Case #09-021 <br />Applicant: Arden Village, LLC <br />Property Location: 1296 County Road F <br />Request: Building Permit Extension <br />Repuested Action <br />Approve Amending Section 5.0 Subd A.2 of the Arden Village Development Agreement to <br />Extend the Building Permit Deadline for one year to June 30, 2012. <br />Background <br />Gn March 8, 20I0, the Arden HiIIs City CounciI approved a Preliminary and rinal Piat, IVlaster <br />and Final PUD, Rezoning, CUP Amendment, Comprehensive Plan Amendment, and <br />Development Agreement to permit Arden Village, LLC to construct a 55-unit apartment building <br />at 1296 County Road F. Section 5.0 Subd A.2 of the Development Agreement required Arden <br />Village to obtain a building permit for the development on or before June 30, 2011 (Attachment <br />A). <br />Since the initial approval of the project, Arden Village has moved forward with purchasing the <br />parcel, and has filed the Final Plat to subdivide the property with the County. Arden Village is <br />working with the Minnesota Housing Finance Authority (MHFA} on an application for housing <br />tax credits that wouId allow the project to be constructed. Arden Village did not receive funding <br />in the last MHFA funding cycle in October, but is reapplying and anticipates being awarded tax <br />credits this fall. <br />City ofArden Hills <br />City Council Meeting for May 9, Z011 <br />C:IDOCUME-lIMEAGAN I.BEEILOCAL�/lTempIELF70/lO505_104516I05-09-I/-RegularMeeting-ArdenVillageExtenstion-Memo.doc <br />• Page 1 of 2 <br />