Laserfiche WebLink
<br />City Council Study Session - 03/20/06 <br />Minutes - Page 4 <br /> <br />financial issues; vacancy rate (estimated at 50%); and provided a <br />similar project recently completed by CCHT with similar <br />management and maintenances strategies and finances. Ms. <br />Ciganik advised that CCHT had a Purchase Agreement pending <br />for the proj ect; and had been meeting with staff to understand the <br />community's needs related to workforce housing and service- <br />type job statistics. Ms. Ciganik noted that there were currently <br />120 units, all one bedroom, which CCHT planned to reposition <br />to add some two bedroom units; bringing down the total number <br />of units to provide a mix of bedroom sizes and rent levels, with <br />extra land adjacent to the proposed redevelopment for future new <br />construction as part of the project. <br /> <br />Ms. Ciganik noted that CCHT hoped to acquire the site within <br />two months; and had made application to Ramsey County who <br />had available funding to support this type of development <br />acquisition. Ms. Ciganik sought City Council support for their <br />$800,000 requested amount from Ramsey County; ongoing <br />interaction and support of the CCHT working with staff; City <br />Council support of other types of applications; and Council <br />support for the CCHT working with the HRA on additional <br />financial provisions. <br /> <br />Discussion included rent ranges; management oversight of <br />capital improvements and third party management firms for day- <br />to-day management of facilities by firms who understand the <br />vision, goals and mission of CCHT; various social and money <br />management classes provided for residents (i.e., social gatherings <br />of residents, money management and addiction recovery classes <br />with rent credit applied for attendance by residents); screening of <br />residents; and the reputation and history of CCHT. <br /> <br />Ms. Ciganik noted that the summary of the CCHT and their <br />engagement in projects was: "You need to pay your rent; you <br />need to respect the building; and you need to respect the people <br />in and around the facility." Ms. Ciganik advised that if those <br />criteria were not met by residents, the firm would take <br />appropriate action. <br /> <br />Councilmember Ihlan questioned whether the CCHT would <br />require financial aid and/or commitment from the City, given the <br />