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MINNESOTA 1, <br />HOUSING r� <br />FINANCE <br />AGENCY <br />November 27, 1985 <br />The Honorable June Demos <br />Mayor of Roseville <br />City Hall <br />2660 Civic Center Drive <br />Roseville, MN 55113 <br />RE: VICTORIA PLACE <br />Roseville <br />MH A 085-026 <br />Dear Mayor Demos: <br />We are pleased to informer you that the Minnesota Housing finance Agency (Agency) <br />has completed the feasibility underwriting and technical review for the <br />referenced housing development proposal. On Hovember 21, 1985, the Agency <br />hoard determined that this proposed development appears feasible for mortgage <br />flwcing under the Agency's Market Rate Graduated Payment Mortgage Program <br />and omthori -ed the issuance of a feasibility Letter to J.A. Developoent, Inc.; <br />Newport. <br />Please note that this action does not constitute a co►itnt on the part of <br />the Agency to finance the development. Additional analysis oust be done before <br />the final decision is wide on providing a mortgage. <br />Our action now is a deteination by the Ancy that the proposal, as currently <br />ructurad, has a site which Is acceptable, a a4rlret exists for the units, and <br />the davelop nt plan as proposed is basically ,acceptable to the Agency. (chile <br />this action does not commit E.".- Agency to issue a mortgage for the development, <br />it does provide assurance to the developer that the proposal at this stage is <br />acceptable and the Aeo-ncy will continua to pursue mort.9aae funds. <br />This letter is to assist you in understanding the current status of this proposed <br />mental housin development with the Agency. It is not intended to influence <br />the outcome o any delkoerations regarding zoning or other land use considerations <br />you may currently have with the developer. <br />Thank you for your continued cooperation and commitawnt to the goal of providing <br />decent and affordable housing for the citizens of your cowunity. If you have <br />any questions, please contact Marcia Kolb, Hlousing Development Officer, at <br />M-3028. <br />Sincerely <br />me 1. loIem <br />LMUtyve ugec9or <br />cc: James An , City Manager <br />400 Sibley Street, Suits 300, St. Raul, Minnesota 55101 (612) 296.7606 <br />Equal Opportunity Housing and Equal Opportunity Employment <br />