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<br />PUBLIC NOTICE <br /> <br />The City of Roseville has been informed by the Minnesota Housing <br />Finance Agency that the Calibre Ridge apartment project will be <br />seeking tax credits for low income housina. This project, as <br />originally presented to the City Council, qid not include a low <br />income component. However, the developer may apply for such <br />credits without the city's authorization. <br /> <br />The Low Income Housing Tax Credit Program was created by the <br />United states Congress to encourage the production and <br />rehabilitation of rental housing for low and moderate income <br />people. The proposed rents are depicted as follows: <br /> <br /> Proposed proposed <br /> unit Mix Rents <br />2 bedroom 37 $608 <br />3 bedroom 23 $702 <br />4 bedroom 13 $783 <br />Total 73 <br /> <br />Owners and investors in qualified rental property are able to <br />reduce their federal tax liability in exchange for providing <br />rental housing for low income tenants. <br /> <br />The Minnesota Housing Finance Agency is requesting comments <br />regarding this proposal until April 19. 1991. <br /> <br />You are encouraged to express your concerns to the Housing and <br />Redevelopment Authority. Your comments maybe addressed to: <br /> <br />Minnesota Housing Finance Agency <br />Low Income Housing Tax Credit Program <br />MUlti-family Underwriting <br />400 Sibley Street, suite 300 <br />st. Paul, MN 55101 <br /> <br />You may also call'John Madson at 296-3029 regarding any comments <br />or concerns. <br /> <br />Based on <br />project, <br />proposal. <br /> <br />the neighborhood concerns <br />the ci ty will be taking a <br /> <br />regarding the original <br />strong position on this <br /> <br />Public Notice Issued By: <br /> <br />steve Sarkozy, City Manager <br />