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HRA Meeting Minutes –Tuesday, October 15, 2013 Page 5 1 the middle site proposed for 2 stories, and not creating a good transition from his perspective and 2 potential impacts on one-story single-family homes. 3 4 Mr. Saar opined that, the Dale Street was the best option if that height was necessary; but questioned if 5 the buildings shown on the site plan were higher than the existing apartment building located southof 6 the site. 7 8 Mr. Rhoades advised that they look 2.5 stories high from the street with the addition of the berm, with 9 parking located under the berm; but from grade zero, they were actually only 2 stories, but visually 10 appeared to be 2.5 stories. 11 12 Graham Atwood, 841 Lovell 13 Mr. Atwood referenced comments related to phasing the project, suggesting that if the plan doesn’t 14 work out as estimated, the HRA would be open to additional changes; and questioned what limits there 15 would be on potential changes. 16 17 Ms. Kelsey advised that the Development Agreement would place triggers on the project specific to any 18 nonperformance issues, providing safety factors to cover the City’s interests. Even though it was 19 difficult to control economics or environment in a housing situation, Ms. Kelsey advised that, if a point 20 should occur where there is an indication of a significant change, the Development Agreement would 21 hopefully contain language sufficient to and incorporate potentials learned from past experience. 22 23 Mr. Atwood questioned if the previous neighborhood discussion would still apply at that time. 24 25 Chair Maschka noted that the GMHC proposal was for completion by May of 2015; and reiterated his 26 projection that the demand for this type and variety of housing would be found to be incredible. 27 28 Mr. Buelow concurred, further noting that the GMHC was eager to build the units and anticipated that 29 sales would prove popular and brisk requiring non-stop building. However, Mr. Buelow noted that they 30 also wanted to be responsible and not build units that were not moving. 31 32 With applause from the audience, Chair Maschka thanked presenters for their nice presentation and 33 concepts. 34 35 Sand Development, LLC/Twin Cities Habitat for Humanity 36 446 East Fourth Street, Suite 100; St. Paul, MN 55101-1137 37 Phone: 651/289-0100 38 www.SandCompanies.com 39 Mr. Jamie Thelan, Chief Manager of Sand Development, LLC 40 Mr. Thelen provided a history of their firm and other locations they had build similar projects. 41 42 Mike Nelson, Land Acquisition Manager with Twin Cities Habitat for Humanity 43 Mr. Nelson provided a summary of the Twin Cities Habitat for Humanity program in the 7 county 44 metropolitan area; and their portion of this projectproposing 5 single-family homes. 45 46 Jeremy Bork, Vice President of Architecture 47 Mr. Bork reviewed the overall plan for those proposed 5 single-family homes and a 3 story apartment 48 building with various sized units including 1, 2 and 3 bedrooms to provide a mix of housing options for 49 all types of families. Mr. Bork provided concept plans and designs, and included 60 stalls of 50 underground parking. 51 52 Mr. Thelan reviewed their proposed financing structure as detailed in their RFP, with a $.5.3 million 53 bank loan,referencing a similar project of 60 units currently being completed in the City of Arden Hills. 54 Mr. Thelan advised that the financing would include a pay-as-you-go TIF note financed through the