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REQUEST FOR COLTNCIL DISCUSSION <br />Date: 3-20-06 <br />Item No: 2. <br />� t.a f� :� E��re�k�:�l � �4i� Et:��� r,�}Fp r«t � 1 :1 ���•���t:t � ��c! i«u = <br />�'1�.� �1 �;� �"� ���_r`�` ,� ;� ,�' � r� ��'i �1�� �g � �i�}� <br />Item Description: Introduction of Central Community Housing Trust — HarM.ar <br />Apartments Renovation (HT`0039) <br />J.i! Background <br />.. . Gina Ciganik with The Central Coinm�.t�lity Ho��si�lg Trust (CCHT) is requesting City <br />Council input associated with the company plans to purchase and renovate the Har Mar <br />Apartments in Roseville. CCHT has a purchase agreement for the 120 unit Har Mar <br />Apartments located at S��elliz�g and Hwy 36. CCHT plans to renovate the existing units and <br />build new housing that would result in a total of approximately 150 mixed-income rental <br />housing units that includes worlcforce apartments that are affordable to household earning <br />n�odest wages as well as those households ea���ing higher wages. <br />CCHT is a leading Twin Cities non profit housing developer and owner of affordable <br />housing. Since 1986, CCHT has built and renovated nearly 1,300 housing units. CCHT <br />strives to provide high-quality, people-oriented design to help stabilize lives and transform <br />communities. <br />;:� The Har Mar Apartments are in need of major renovation and repair. The 40+ year old <br />complex has been experiencing deferred maintenance over the years. However, this propel-ty <br />serves a great need for affordable apartment living in the co���n�uiuiy. Currci�tiy the site is <br />50% vacant w�azc�� indicates, even with its affordable rents, its condition is not conducive to a <br />quality living environment. <br />L� CCHT is proposing to renovate the units, exterior and grounds of the property. In addition, <br />CCHT is proposing to build new units on the site to enhance the mix of unit type and price <br />on the property. CCHT will strive to Beep tl�e units affordable which is a lcey component of <br />t1��ir corporate mission. <br />I.� <br />� <br />CCHT has made a request of $ 800,000 in acquisition �i�tliilg to Ranasey County and is in the <br />process of completing i3-�ore detailed financial analysis on the project. <br />Suggested Council Action <br />Provide input regarding Central Community Housing Trust's plans �r�F renovation and <br />redevelopment of Har Mar Apartments and direct staff to prepare a resolution of support <br />for CCHT's 'fundi��� request to Ranlsey County for March 27t�' Council consideration. <br />Attachz��ent — P��aperty maps, property prof 1e <br />Prepared by: Cathy Bermett (792-70 � 5} <br />CCHT Affordable I I. ii =�i7� Presei�tation - Page 1 of 1 <br />