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A" Metropolitan Council <br />30/66 n <br />,�a� Q� <br />February 22, 2005 �Mo <br />io" <br />Fritz Magnuson <br />City Clerk <br />City of Gem Lake <br />1369 County Road E East <br />Gem Lake, MN 55110-5231 <br />Dear Mr. Magnuson: <br />Thank you for your letter dated February 6 inquiring about the Council's position regarding the <br />situation you describe. The city's participation in a life -cycle housing project by way of issuing <br />housing revenue bonds is consistent with regional housing goals and policy that call for the <br />judicious use of public financing tools to facilitate such housing opportunities. <br />The issues of covenants or conversion of rental units to cooperative ownership units are not <br />appropriately the concern of the Metropolitan Council as we are not party to this housing. The <br />situation appears more an issue for the communities and the private parties involved in the <br />development which may have benefited from the use of the public financing vehicle. <br />Regardless of whether the units remain rental in nature or are converted to an ownership model, <br />they will continue to provide a life -cycle housing option for residents of northern Ramsey <br />County and in doing so fulfill this local housing need and goal. <br />Please fe61 free to contact me at 651.602.1418 if you have any questions. <br />Udy D. Peterson <br />Acting Director, Housing and Redevelopment Authority and Livable Communities Programs <br />CC: Georganne Hilker, Metropolitan Council District 11 <br />Bob Mazanec, Sector Representative <br />J <br />www.metWfoiuncikf,rg Metro Into Line 602-1888 <br />im m 1"rr nl i\lihr-nijn •1, r�nn1700i\0l270i g{.0Lake let lcr dck <br />230 East Fifth Street • St. Paul, Minnesota 55101-1626 • (651) 602-1000 • Fax 602-1550 • TTY 291-0904 <br />An Equal Opportunity Employer <br />