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HRA Meeting Minutes – Tuesday, October 15, 2013 Page 9 1 tax credit developments completed to-date, based on their practice and reputation in delivering quality 2 products. 3 4 At the request of Ms. Kelsey, Mr. Eilers confirmed that a total number of 73 rental units were proposed; 5 with 9 townhomes; that demolition costs, SAC and WAC had been included in their projected 6 construction costs in the proposal; and beyond the $100,000 purchase price of the land, they were 7 requesting no additional financial assistance from Roseville. Mr. Eilers reviewed their projected project 8 timeframe, if financing was established in 2014, construction in 2015, and 6-month lease-up period; 9 anticipating occupancy by the spring of 2016. Given the size of this project, and their past experience 10 in managing various properties across three states, Mr. Eilers advised that they anticipated a full-time, 11 on-site property manager 12 13 At the request of Ms. Kelsey, Ms. Myer provided a summary for their intent to preserve existing trees 14 and include new growth, as realistic to the site itself and development; hoping to utilize several of the 15 mature trees as site amenities in open space. While the project requires a level of density, Ms. Myer 16 recognized that buffering between single-family and the multi-family building, as well as connecting to 17 the community were all important aspects in a final site design. 18 19 At the request of Member Willmus, Ms. Myer noted that for the 73 units, 63 below grade and 18 above 20 grade parking stalls were proposed for the multi-family building; and consolidated parking lot stalls to 21 address the community feeling for the townhomes and courtyards for them. 22 23 Public Comment 24 Kari Gelly, 777 Lovell Avenue 25 Ms. Gelly sought clarification on the client anticipated for renters in “affordable rate” rental units; and 26 questioned if they would be open to people having government assistance or fully employed, and the 27 parameters for affordable housing. Ms. Gelly also questioned how the units would be marketed. 28 29 Mr. Eilers clarified the definition of “affordable housing,” often referred to as workforce housing; 30 noting that CommonBond tried to keep the majority of its units with income ceilings based on a 31 percentage of median income. Mr. Eilers advised that these would not be Section 8 HUD housing units, 32 but renters would pay full rent, with those rents charged slightly below market rate. Mr. Eilers advised 33 that proposed rents would be between $900 and $1,050 depending on the size of the unit; and 34 anticipated that the population for this building would include working families, singles and the elderly, 35 a mix which their sites invited. Mr. Eilers noted that the majority of market rate apartments would have 36 no income restrictions; but that the affordable housing tax credit equity did include a ceiling as to how 37 much a tenant could make to live in a unit. 38 39 Regarding marketing, Mr. Eilers advised that they typically did outreach to all types of populations 40 through all available media; and would work with the City and HRA for referrals for that marketing, 41 seeking as many viable options as possible. 42 43 Ken Warwick, 748 Grandview 44 In his personal calculations of parking spaces with this proposal, Mr. Warwick questioned the 45 availability of parking with the units; whether below grade or in the parking lots; and questioned the 46 number of 3-bedroom units in the multi-family building. Mr. Warwick expressed concern with the need 47 for on-street parking and activity due to not providing sufficient parking on site. 48 49 Mr. Eilers estimated 15-16, 3-bedroom units. 50 51 Ms. Myer advised that the proposed parking was a starting point to reach the sustainable growth goal, 52 and provided 1 to 1 parking. As they worked with the community as project development moved 53 forward, Ms. Myer advised that more parking could be incorporated to the north to accommodate 54 several more stalls. Ms. Myer reminded all that this was only a concept plan to be used as a starting