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in order to close the financing gap left by the affordable housing component of the project. The Council's letter of support is included with this packet (Attachment B). Sand Companies, Inc has secured a purchase agreement for the property and has since submitted a request to the MHFA for tax credits. They will be notified by the end of January 2010 if they will receive the tax credits; however, they are moving forward with the planning review process and are seeking Planning Commission and City Council approval of their application. The request for City financial assistance will be reviewed separately. The proposal requires the property to be rezoned from the current I-1, Limited Industrial District, to R-4, Multiple Dwelling District. In order to rezone the property, the City's future land use map in the 2030 Comprehensive Plan must also be amended to reflect the new Multiple Family use for the property, which is currently identified as Utility in the City's Comprehensive Plan. This requires Metropolitan Council approval as well as City approval. In addition to the rezoning of the property and the Comprehensive Plan Amendment, the applicants are also requesting a Preliminary and Final Plat to subdivide the property into two parcels, and a Master and Final PUD for the development itself. The property currently operates under a Conditional Use Permit (CUP) that was approved in 1972. Because the CUP encompasses the entire property it will need to be amended as well to reflect the proposed legal description for the subdivided lot. The City Council will hold the public hearing for the CUP Amendment because notice was not published in time for this meeting; however, the applicant is requesting the Planning Commission recommend approval of the CUP Amendment at this time. Project Proposal and Process 1. Planned Unit Development (PUD) Process: The PUD process is a tool that provides additional flexibility for developments that an underlying zoning district would not otherwise allow. For example, a PUD may change the setbacks, lot coverage, lot sizes, parking requirements, building height, building materials, landscaping requirements, etc. Additionally, the PUD process allows the City to negotiate certain aspects of the development to help achieve City goals. With any development, the conditions imposed on the project must have a rational basis related to the impacts of the development. The process is meant to create a better development than the standard regulations may otherwise allow. While each PUD process is unique, it is a common process used by many cities. The PUD process cannot be used to permit uses that would not otherwise be permitted in the underlying zone. City of Arden Hills Planning Commission Meeting for December 9, 2009 IlMetro-inet.uslardenhillslPlanninglPlanning Cases 12009109-021 Arden Village PUD, Plat, Rezoning (Pending)112-09-09 - PC Report -Arden Village.doc Page 2 of 14