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'M~ ,. appropriation to MHFA in 1999, provides a dollar-for-dollar match of every dollar contributed to the development by a corporate entity and a charitable organization · As one of the city's highest priorjty projects, this 231-unit development involves $16.6 million in Hollman monies, $10 million of tax credits, $300,000 in charitable contributions, $1.5 million from MCDA, $2.6 million in tax exempt bonds and a $3 million mortgage from MHFA. · Mineapolis is expected to apply for waiver of SAC (Sewer Availability Char-ge) for 46 units. · Received $700,000 in 1999 for Near Northside bicycle/pedestrian trails. · Received a $100,000 grant from Metropolitan Council Environmental Services for stormwater pond and wetland restoration. ...~:.~': Regional Connections: · Potential link to Northwest Corridor in future--Olson Memorial Highway, to the project's north, is one of two potential routes connecting the Northwest Corridor with downtown Minneapolis. When in the Ground: · Groundbreaking occurred in October, 2000, for public realm construction activities. · Median/greenway features will be implemented beginning April 15, 2001. · First phase of housing construction will begin in Summer 2001 and be ready for occupancy by Spring 2002. · All phases-900 housing units-:-are expected to be complete by 2006-2008. -2. Heart of the City I Burnsville Model: Mixed-Use Town Center Project in Brief: Phase 2 of a project to create a mixed-use cen1er of activity and new downtown in an area of underutilized and blighted uses. Nicollet Commons, a 1.5 acre park framed by three-story mixed-use buildings, will serve as a focus for civic and cultural activities. · An arts/cultural facility, adjacent to the park, will offer opportunities for indoor and outdoor arts and cultural events. · Housing will include rental apartments, owner-occupied condos, townhouses and senior housing; live/work units are permitted; · Twenty percent of the housing will be affordab]e at 50 percent of income for rental, 80 percent for ownership. Advisory Committee Comments: · All of the mixed-use elements are present. · A great model for the inner-ring suburbs. · Includes lots of elements we have not always seen in suburban areas. · Funding request is for a distinct, pivotal piece. Builds on last year's grant (for Phase 1). · Developer and market interest are strong.