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Rice Creek Commons Terms for Final Development Agreement March 2025 Working Draft <br />3 <br /> <br />Affordable Housing Aid (metro area sales tax funding), etc. and <br />with partners such as Habitat for Humanity. <br /> <br />The parties will additionally work toward constructing 10% of <br />the owner-occupied units to accommodate Ramsey County <br />down payment assistance, which is accessible to households <br />who make less than 115% of area median income (AMI) (in <br />2023, that equates to a for-sale price of less than $372,000). <br /> <br />F. Housing Ownership versus Rental <br /> <br />The parties share a goal of providing opportunities for <br />homeownership opportunities in the development, and as part <br />of the final development agreement will come to a mutually <br />agreeable ratio of owner-occupied units to rental units. <br /> <br /> <br /> <br />To be discussed. <br /> <br /> <br />• Number of homeownership and rental units planned <br />• Mechanism for ensuring this balance comes to fruition <br />G. Commercial/Industrial Development and Job Creation <br /> <br />The parties understand that new employment at well-paying <br />jobs is an important objective for Rice Creek Commons, for <br />which reason certain areas have been zoned for commercial or <br />industrial usage. Accordingly, the parties agree to pursue <br />appropriate buyers or tenants for such areas as will maximize <br />the opportunities for such employment. <br /> <br /> <br /> <br />Affirmed. <br /> <br /> <br />• Details about job creation goals <br />• Contracting goals <br />H. Green Energy Goals and Infrastructure <br /> <br />The parties share the goal of building an ambitious, sustainable <br />development. The parties endorse the Rice Creek Common <br />Energy Vision, as adopted by the JDA on 10/2/23, and will <br />collaborate in alignment with the guiding principles therein. As <br />part of working toward this vision, the parties will explore the <br />feasibility of an all-electric development and work with the <br />selected energy consultant to create metrics to be included in <br />the final development agreement to achieve these goals. <br /> <br /> <br /> <br /> <br />Carbon-free is the <br />stated goal of the <br />JDA. Results of clean <br />energy analysis to <br />be incorporated into <br />agreement. <br />Sustainability Design <br />Guidelines will <br />apply. <br /> <br /> <br /> <br />• Energy technologies to be used to achieve carbon-free <br />• Metrics <br />• Financing for green energy work <br />• Other sustainability requirements beyond energy