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Department Approval <br />l�'�, <br />Jy <br />REQUEST FOR COUNCIL ACTION <br />Date: 04/14/2008 <br />Item No.: 7.k <br />City Manager Approval <br />� `� . <br />� <br />Item Description: Approve Extension for Har Mar Apartment Livable Communities Demonstration <br />Account Grant and Tax Base Revitalization Account Grant <br />1.BACKGROUND <br />1.1. The Metropolitan Council awarded the City of Roseville two grants on behalf of Aeon's Har Mar <br />Apartments revitalization project—a $305,000 Livable Communities Demonstration Account <br />(LCDA) grant for stormwater management and other on-site improvements and a$121,500 Tax <br />Base Revitalization Account (TBRA) grant to undertake asbestos abatement within the existing <br />structures. <br />1.2. The City and Aeon entered into a Memorandum of Understanding that outlines the parameters for <br />Aeon to utilize the awarded funds. Item 9 of this agreement states that if Aeon could not <br />implement the grant activities within the grant timeframe, they would need to provide a written <br />explanation as to why the activities have not taken place. Aeon provide this document to the City <br />and requested that the City seek a grant extension from the Metropolitan CounciL (See Attachment <br />A.) <br />1.3. Working with Aeon, the staff submitted the required materials to the Metropolitan Council in <br />order to seek a one-year grant extension. The Metropolitan Council has approved this request. In <br />order to complete this process, the City and the Metropolitan Council must enter in to a Grant <br />Extension Agreement for each grant. (See Attachments B and C.) <br />2. POLICY OBJECTIVE <br />2.1. The use of the LCDA and TBRA grants will foster reinvestment into the community and maintain <br />existing affordable housing units. <br />3. FnvaNCiaL I�acTs <br />3.1. By approving the grant extensions, there are no fiscal impacts to the City as Aeon will be <br />undertaking the work identified in the LCDA and TBRA grants. The memorandum of <br />understanding between the City and Aeon requires Aeon to contribute any required matching funds <br />for both the LCDA and TBRA grants. <br />4. STAFF RECOMMENDATION <br />4.1. Staff recommends that the City Council approve Grant Extension Agreements for the LCDA and <br />TBRA grants in order to facilitate the rehabilitation of the Har Mar Apartments. Without the <br />Page 1 of 2 <br />