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City of Rosevillle Community Development Dept ( ~O-~~ ') Welsch, Dennis From: Sent: To: Cc: Subject: Welsch, Dennis Friday, October 01, 19997:01 AM Bennett, Cathy Burrell, Ed; Sa rkozy , Steve RE:Hamline Center (Commons) - Met Council Grant I. I . j. / -...:::.'-'- ./ , - :... j :2.- ::J CB: Pis. call. The total app project has 21.5 million hard costs and $10m in financing and soft costs(!) in it. (Thurs. aft. - Steve says the best we can hope for is $600,000 from LCDA and $250,000 from Transit. The proforma seeks $$$ in the form of bonding and TIF - 1 question the use of TIF for the commons area becasue of the new TIF law. I need to share this with Steve and Ed B. before we go much further. The history section (I have not read your update) should include some info on the need based on the studies and the J.Carp. maps. The units will be the leasehold co-op variety where each owner will have to put $15,000 into the project and then have a monthly payment of $1250. Does this sound even remotely like moderate cost housing??? Let me kow your ideas. I will be at the Design Center from 10 to noon, back here to finish up from 12:30 to 2:30,when the app will need to be packaged for a courier to take to Met Council at 3pm. We also need to find methods of connecting this project to the Arona site and showing this graphically. -----Orig inal Message----- From: Cathy & Curt Bennett [mailto:cathy.bennett@ci.roseville.mn.us] Sent: Thursday, September 30, 199910:06 PM To: dennis,welsch@ci.roseville,mn.us Subject: Met Council Grant Dennis: 1 wrote a little paragraph in the history section. The total funds on the first page does not match the use of demonstration funds section. Do we want to increase to total or reduce the first amount under common area? I will give you a call in the morning. Cathy ~ Dennis Welsch Community Dev. Director Phone 651-490-2232 Fax: 651-490-2931 City of Roseville Community Development 2660 Civic Center Drive Roseville, Mn. 55113