Laserfiche WebLink
Staff Approval: <br />REQUEST FOR COUNCIL ACTION <br />�Tau���r ,��� <br />L �L _ �. _ <br />w��I: <br />� ,� <br />Date: 7-10-06 <br />Item No: 5 �f <br />Agenda Section: <br />Consent <br />Item Description: Support for Funding Applications — Central Community Housing <br />Trust — for Renovation of HarMar Apartments at 2225 Snelling <br />Avenue in Roseville (HFQU39) <br />� .�E Requested Action <br />I I The Central Community Housing Tmst (CCHT) is requesting the City Council's <br />resolution of support in its application to the following public agencies for the renovation <br />of Har Mar Apartments located at 2225 Snelling Avenue in Roseville <br />a. Minnesota Housing Finance Agency -$580,000 grant and $770,473 in tax <br />credit allocation. <br />b. Metropolitan Council Livable Communities -$328,100 <br />�.[a Background <br />i.l 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. Apresentation by CCHT was provided to the City Council on March 2Q, 200b <br />and an introduction to their participation in the badly needed renovation of the Har Mar <br />apartments was introduced. <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 property <br />serves a great need for affordable apartment living in the community. Currently the site is <br />50% vacant which indicates, even with its affordable rents, its conditionis not conduciveto a <br />quality living environment. <br />�.'� CCHT has purchased the 120-unit Har Mar Apartments located at Snelling and Hwy 36. <br />CCHT is preparing plans to renovate the existing units and build new housing that would <br />result in a total of approximately 150 miYed-income rental housing units. This will <br />include workforce apartments that are affordable to household earning modest wages as <br />well as those households earning higher wages. CCHT will strive to keep the units <br />affordable which is a key component of their corporate mission. However, to achieve <br />this, public assistance will be needed and funds from MHFA, Metropolitan Council and <br />other public agencies are critical. <br />CCHT Funding Application Support • Page F of 2 <br />