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<br />EXHIBIT 3 <br /> <br />CALIBRE RIDGE TOVNHOMES <br /> <br />OVERVIEW <br /> <br />The Calibre Ridge Partnersbip, a Minnesota limited partnersbip, is proposing to <br />build a 58 unit townhouse complex called Calibre Ridge Townhomes for families <br />at or below 60% of median income. <br /> <br />PROJECT: <br /> <br />Acquire a 4.5 acre site near the NY corner of Highway 36 <br />& Rice Street in Roseville; construct a 58 unit complex <br />of 30 three-bedroom townhomes and 28 two-bedroom <br />townhomes for affordable family rental housing. <br /> <br />GENERAL <br />PARTNER: <br /> <br />John Duffy (20%) <br />Twin Cities Housing Development Corporation (80%) <br />Twin Cities Housing Development Corporation <br />John Duffy <br /> <br />DEVELOPER: <br /> <br />ARCHITECT: <br /> <br />Criteria Inc., concept architect <br />Korsunsky Krank Erickson, architect of record <br /> <br />GENERAL <br />CONTRACTOR: <br /> <br />Duffy Development Company <br /> <br />PROPERTY <br />MANAGER: <br /> <br />Twin Cities Housing Development Corporation <br /> <br />PROPOSED DEVELOPMENT <br /> <br />Currently, the site, comprised of 4.5 acres, is being zoned as Planned Unit <br />Development. It's a heavily wooded rolling hillside facing Highway 36. As <br />attached, plans have been designed to maximize the topographical assets and, <br />minimize tree loss and impact to the neighborhood. The proposed project <br />includes 28 two-bedroom townhomes of 1,023 square feet each and 30 <br />three-bedroom units at 1,310 square feet. The townhomes have been designed to <br />especially meet the demands of single parent families. Dining area/family <br />rooms with stairs to second floor are located directly off the entrance. <br />Living rooms are located outside the "traffic lanes." <br /> <br />All units have a private entrance, one car attached garage, stove, <br />refrigerator, dishwasher, disposal, and washer/dryer. The three-bedroom <br />townhomes include a 1/2 bath on first floor and compartmentalized full bath on <br />second. Laundries are all located on second floor with the bedrooms. <br />Twenty-five units, facing Rice Street and Highway 36, are designed to include <br />full basements which helps to minimize retaining wall construction and provides <br />a marketing tool to these units with a less desirable location. Three <br />playgrounds and a walking/bike trail are key elements of the proposal to insure <br />that children have adequate play areas. Parking areas provide 65 <br />parking-stalls for residents and visitors in addition to the 58 garage stalls. <br /> <br />-1- <br />