Laserfiche WebLink
December 1, 1976 <br />PL.AiVNING REPQRT <br />CAS� NUMBER: <br />APPi. i CANT : <br />LO CAT i Q�I : <br />ACTION REQUE57ED: <br />PLANNI�tG COfVSIDERATIOMS: <br />1027-76 <br />Canadian Financial Carporation <br />28�0 Narth Sne]Iing Avenue <br />5pecial Use Perm�t, Planned Unit <br />Develo�ment <br />Ti�e a�plicarri proposes to construct a multi-family apartment <br />dev�lopment for modera-�e �o middle.income families. Fhe prvposal <br />cansists of 64 ane bedroom and 64 �wo bedraom uni�s iocated in <br />eight apartment bu�ldings and 7.6 three bedroom townhause units <br />grouped int� seven building�. 7he property in ques�ion is the <br />Glueic properiy, eas� of Snelli�g Avenue, north of the Rose Drive-In <br />Theatre site. The s�bject property tota�s nine acres, eig�� acres <br />of whic� are a7ready zon�d R-3, Multiple Family ResidentTal and <br />one acre is bei�g added from the coniiguous B-2 site as shown in <br />tF�e sketch of the area. This additionai one acre accorrmodates the <br />second aecess to the site (reques�ed by the City) and a storm water <br />ponding area. <br />2. As you will recall, th�s property was the subjeet af a rezoning <br />request by �he Canadian Financ-ial Corporation in April of th�s <br />year. The Ciiy approved tt�e project, however, �he M�nnesata <br />Housfng Finance Agency did not fund the prajeet as expected. As <br />�ou wrtli recal7, the �roject praposed in Rpri� included a seven <br />story mid-rise apartment building for the elderly. <br />3. ihe praject approved in April was a Section $ ho�sing pro�ect which <br />consisted of 196 units, 92 of whic� evere 1n Iow ris� towr�hauses <br />and 104 of which were �n a mid-rise seven story apartment structure <br />for the elderly. ApparentTy, the Canadian F7nancial project has <br />been encouraged to proceed with the family hous�ng portion o� the <br />projec�, w�thout the senior citizens structure. <br />4. As we nated in past communications with �he City Cauncil, the <br />redeeming feature of the project ariginally submitted was the <br />mix of elderly housing u�ith famiTy un�ts and that a praposal to <br />develop the {�roper�y for family ur�its only should r�q.uire care�ul <br />re���w. A Section 8 project is based on 25f of incam� maxim�rm <br />ren�a7 charges. The econo�ric rents, same of which are an�ici�ated <br />io be rented at a regular rate, tivou7d be: <br />a. $300.00 per month far ane bedro�m unit <br />