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VU i :11y OAR <br />RENTAL PROJECT <br />40 <br />Hillside Estatie No. 1,, a Minnesota limited <br />partnership, to be formed with Stratford Investments, Ltd., a <br />Minnesota corporation, as a general partner the "Developer") <br />proposes that, the it of Roseville undertake to finance, <br />throlugh, the issuance of its housilLng r . evenue bonds, the <br />f ly <br />acqui.sition, construction and equipping of a multi- <br />am-1 <br />rental housing development consisting of one building <br />approximately m-lb-ffis ------- square elet to be located at the northwest <br />AI <br />�siect,i,on of the intersection of Highway 36 and Rice Street in <br />$I <br />the Clt,y of Roseville-a The bul"Lliding will contain 10 <br />onle -bedroomunits and 20 two.-bedroom units for a Project total <br />INA of 30 riental units (t le "Pir,oille�ct"), It is expected that <br />one-bedroom, units will, inJ-tially rient for approximate'ly <br />per month and two�bedrioom units will ally rent for <br />approximately per month. The estimated principal amount <br />of revenue bonds or other obiligatilons to be issued to finance <br />thie cost, of' this Project is- $1,900,,0100. The Project will be <br />$I <br />initially owned and operated by the Developer. The Program <br />