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How will Ramsey County Residents Benefit? Ramsey County residents will benefit in three-fold manner. First. seniors already residing within Ramsey County will be the highest percentage of occupants. Secondly. this project will employ a significant number of residents, both short-term during construction and long-term as permanent staff. As seniors age in place requiring more health care services, the number of employees will grow significantly, probably in excess of 100 full and part-time employees being impacted by this project. Thirdly, residents currently residing in Ramsey County will persuade their relatives to move here, approximately eight to eleven percent of the occupants will fall in this category. How Will The CDSG Grant Be UtHized? The CDBG Grant will be utilized to assist in paying for the acquisition of the property. The current program will consist of the following: 5% of the persons occupying the assisted living facility will receive financial stipends, enabling them to be an occupant. As HUD increases the fnadian income guidelines, the developer anticipates that several of the occupa.nts will meet these guidelines. in that seniors direct a much higher percentage of their income to their housing and health care needs. Similarly, 10% of the occupants within the market-rate senior housing facility wi!! receive a direct mone~5ry stipend enabling them to reside in this facility. Here again, 8$ has been experienced in other senior projects, the developer antidpates many of the occupants to have demonstrated incomes thp.~ fo!! within ths low and moderate levels determined by HUD. The developer has further indicated to us that they will try to work close!/ 'Nith Ramsey County on the implementation of this program, in order to meet all of the Ramsey County guidelirids. The non-profit developer is ~Iso seeking to implement a "missionary fund", enabling additional persons as they age in place. to a~ply for financial assistance when that becomes necessG(y. How wiU Ramsey County Residents Be Affected If The Project Is Not Funded? All of the above stated positive factors will not be realized. The CDSG funding is critical to the success of this program, The project cannot turn to HUD for sssistance at this time. Acquisition is very costly. The City has indicated a willingness to assist in funding the demolition costs of the project. Pay-As.You- Go tax incrertient will also be of great assistance as it will enable a much higher number of seniors to move in that have low and moderate iiit,;omes. A CDBG grant will go a long way in comb21ing the escalating the health care costs, as seniors will be afforded the opportunity to p',:-chase cost-effective services as ttlsy af3 needed.