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Rls�kspvlffi� <br />REQUEST FOR COUNCIL ACTION <br />Date: 4/14/08 <br />Item: T m <br />1. BACKGROUND <br />1.1. The Metropolitan Council has awarded the City of Roseville two grants on behalf of Aeon's Har <br />Mar Apartments revitalization project, including a $305,000 Livable Communities Demonstration <br />Account (LCDA) grant for stormwater management and other on -site improvements and a <br />$121,500 Tax Base Revitalization Account (TBRA) grant to undertake asbestos abatement within <br />the existing structures. (See Attachments A and S.) <br />1.2. Staff has worked with the City's attorney to draft a memorandum of understanding between the <br />City and Aeon. This memorandum identifies the City's expectations of Aeon pertaining to the <br />implementation of these grants. (See Attachment C.) <br />2. POLICY OBJECTIVE <br />2.1. The use of the LCDA and TBRA grants will foster reinvestment into the community and maintain <br />existing affordable housing units. <br />3. FINANCIAL IMPACTS <br />3.1. By approving these contracts, there are no fiscal impacts to the City as Aeon will be undertaking <br />the work identified in the LCDA and TBRA grants. <br />3.2. The proposed memorandum of understanding requires Aeon to contribute any required matching <br />funds for both the LCDA and TBRA grants. <br />4. STAFF RECOMMENDATION <br />4.1. Staff recommends that the City Council approve the execution of the LCDA and TBRA grant <br />contracts between the City and the Metropolitan Council in order to facilitate the rehabilitation of <br />the Har Mar Apartments. <br />4.2 Staff also recommends that the City Council approve a memorandum of understanding between <br />the City and Aeon that outlines the <br />5. REQUESTED COUNCIL ACTION <br />5.1. By motion, approve grant contracts between the City and the Metropolitan Council for $305,000 <br />in LCDA funds and $121,500 in TBRA funds. <br />Page 1 of 2 <br />